secwatch.observer — SEC 8-K summary
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Issuer:     SOUTH DAKOTA SOYBEAN PROCESSORS LLC (SDSYA)
CIK:        0001163609
Form:       8-K
Filed at:   2023-01-04T23:59:59+00:00
Accession:  0001163609-23-000002
Event type: leadership
Sentiment:  neutral
Materiality: 0.45
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CEO Thomas J. Kersting signs new 5-year employment agreement with $400k base salary and profit sharing
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- New employment agreement effective Jan 1, 2023 through Dec 31, 2027.
- Base salary fixed at $400,000 per year, with no increases unless material change in duties.
- Annual profit sharing bonus equals 0.7% of net income over $2 million.
- Without-cause termination entitles CEO to base salary for greater of remaining term or 52 weeks.
- Non-compete applies during term plus two years; non-solicit during term plus one year.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1163609/000116360923000002/0001163609-23-000002-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1163609/000116360923000002/sdsp-20230101.htm
  HTML page:      https://secwatch.observer/filing/0001163609-23-000002

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