secwatch.observer — SEC 8-K summary
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Issuer:     PRICESMART INC (PSMT)
CIK:        0001041803
Form:       8-K
Filed at:   2022-12-09T23:59:59+00:00
Accession:  0001041803-22-000048
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PriceSmart CEO Sherry Bahrambeygui to resign Feb 3, 2023; founder Robert Price becomes Interim CEO
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- Sherry Bahrambeygui resigns as CEO effective Feb 3, 2023, remains on Board.
- Founder/Chairman Robert Price named Interim CEO; John Hildebrandt promoted to President & COO.
- David Price promoted to EVP and Chief of Staff to Interim CEO.
- Bahrambeygui receives $1.5M severance plus $2.25M cash incentive; retains 97,122 RSUs/PSUs.
- Board amends bylaws to exclude broker non-votes from shares considered present for stockholder votes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1041803/000104180322000048/0001041803-22-000048-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1041803/000104180322000048/psmt-20221208x8k.htm
  HTML page:      https://secwatch.observer/filing/0001041803-22-000048

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer