---
schema_version: "secwatch.filing_event.v1"
accession: "0001041803-25-000033"
form_type: "8-K"
ticker: "PSMT"
cik: "0001041803"
company_name: "PRICESMART INC"
filed_at: "2025-05-09T23:59:59+00:00"
generated_at: "2026-05-22T01:11:06.799131+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# PriceSmart appoints Gualberto Hernandez as CFO effective June 1; Michael McCleary to retire

## Summary
- Hernandez, 61, joins from Estée Lauder where he was VP Finance & Strategy for Latin America since 2016.
- Current CFO Michael McCleary resigned by mutual agreement, will serve as EVP through Sep 30, then consult up to 40 hrs/month for 3 months.
- Hernandez receives $720K base salary, $180K target bonus, $4.5M stock award (vesting $900K/yr), $150K sign-on bonus, and relocation.
- McCleary severance: $721K over 1 year, up to $180,250 cash incentive tied to FY2025, health coverage for 18 months, and continued vesting on 12,074 shares.

## SEC filing metadata
- accession: 0001041803-25-000033
- form_type: 8-K
- ticker: PSMT
- cik: 0001041803
- company_name: PRICESMART INC
- filed_at: 2025-05-09T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1041803/000104180325000033/0001041803-25-000033-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1041803/000104180325000033/psmt-20250508.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001041803-25-000033
- JSON: https://secwatch.observer/filing/0001041803-25-000033.json
- Plain text: https://secwatch.observer/filing/0001041803-25-000033.txt

## Key facts
- Executive change
  Michael McCleary resigned as Executive Vice President and Chief Financial Officer at PRICESMART INC.
  - Action: resigned
  - Role: Executive Vice President and Chief Financial Officer
  source text: PriceSmart’s current Executive Vice President and Chief Financial Officer Michael McCleary resigned by mutual agreement with the Company, but will continue to serve as an Executive Vice President of the Company through September 30, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1041803/000104180325000033/0001041803-25-000033-index.htm
- Executive change
  Gualberto Hernandez was appointed as Executive Vice President and Chief Financial Officer at PRICESMART INC.
  - Action: appointed
  - Role: Executive Vice President and Chief Financial Officer
  source text: PriceSmart, Inc., a Delaware corporation (“PriceSmart” or the “Company”), today announced the appointment of Gualberto Hernandez as Executive Vice President and Chief Financial Officer effective June 1, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1041803/000104180325000033/0001041803-25-000033-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.