PriceSmart sets CEO David Price's compensation: $1.5M salary, $500K cash target, $3M equity target

PRICESMART INC

Base salary set at $1,500,000; target annual cash incentive $500,000; target annual equity incentive $3,000,000 grant-date value.
Severance on qualifying termination: 1x base salary paid in 24 installments over 12 months, plus 12 months COBRA, pro-rata bonus, and accelerated vesting of shares vesting in next 12 months.
Employment agreement automatically renews each year unless either party provides 60 days' notice of non-renewal.
Company may terminate without cause on 30 days' notice; executive may resign for good reason on 45 days' notice with 30-day cure period.

item 5.02 item 9.01

Executive movements

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Role change

David Price

Chief Executive Officer

PSMT · PRICESMART INC

Effective: 2025-09-01
Filed: June 20, 2025, 7:59 PM ET

PriceSmart previously announced that David Price will become Chief Executive Officer, effective September 1, 2025.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

David Price changed role as Chief Executive Officer at PRICESMART INC.

Action: promoted
Role: Chief Executive Officer

Exact text from the filing

PriceSmart previously announced that David Price will become Chief Executive Officer, effective September 1, 2025.

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PRICESMART INC filing history →

Source: SEC EDGAR

accession 0001041803-25-000037

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