PriceSmart finalizes amended employment agreement with President and COO Hildebrandt; salary $850k, equity $1.5M

PRICESMART INC

John D. Hildebrandt appointed President and COO effective Dec 9, 2022; compensation set retroactively.
Annual salary $850,000, target cash incentive $638,000, annual equity incentive $1.5 million.
Severance: 1x base salary paid over 12 months, COBRA for 12 months, accelerated equity vesting if terminated without cause after Robert Price steps down as CEO.
Agreement auto-renews annually unless either party provides 60-day notice.
Compensation approved by Compensation Committee on Jan 26, 2023; agreement executed March 22, 2023.

item 5.02 item 9.01

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Appointed

John D. Hildebrandt

President and Chief Operating Officer

PSMT · PRICESMART INC

Effective: 2022-12-09
Filed: March 24, 2023, 7:59 PM ET

John D. Hildebrandt had been appointed President and Chief Operating Officer, effective December 9, 2022.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

John D. Hildebrandt was appointed as President and Chief Operating Officer at PRICESMART INC.

Action: appointed
Role: President and Chief Operating Officer

Exact text from the filing

John D. Hildebrandt had been appointed President and Chief Operating Officer, effective December 9, 2022.

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PRICESMART INC filing history →

Source: SEC EDGAR

accession 0001041803-23-000026

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