secwatch.observer — SEC 8-K summary
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Issuer:     PRICESMART INC (PSMT)
CIK:        0001041803
Form:       8-K/A
Filed at:   2023-03-24T23:59:59+00:00
Accession:  0001041803-23-000026
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1041803/000104180323000026/0001041803-23-000026-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1041803/000104180323000026/psmt-20221208.htm
  HTML page:      https://secwatch.observer/filing/0001041803-23-000026

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