secwatch.observer — SEC 8-K summary
======================================

Issuer:     PRICESMART INC (PSMT)
CIK:        0001041803
Form:       8-K/A
Filed at:   2025-06-20T23:59:59+00:00
Accession:  0001041803-25-000037
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1041803/000104180325000037/0001041803-25-000037-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1041803/000104180325000037/psmt-20250228.htm
  HTML page:      https://secwatch.observer/filing/0001041803-25-000037

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