secwatch.observer — SEC 8-K summary
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Issuer:     INNOVATIVE FOOD HOLDINGS INC (IVFH)
CIK:        0000312257
Form:       8-K
Filed at:   2023-02-07T23:59:59+00:00
Accession:  0001185185-23-000092
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CEO transition: Sam Klepfish steps down Feb 28; Bill Bennett appointed CEO, remains Chairman
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- Bill Bennett named CEO; base salary $375k with 3% annual increases, $50k signing bonus, performance bonuses up to $300k.
- Bennett eligible for stock grants at $0.60–$2.00 price thresholds, up to 2%–0.5% of outstanding shares per tranche.
- Sam Klepfish resigns as CEO on Feb 28, stays Chairman; receives $250k upfront, $6,410.26/week for ~3 years, 400k shares now, additional shares by 2027.
- Bennett most recently Kroger VP of eCommerce, led $10B digital business; also held eCommerce roles at Walmart and leadership at General Mills.
- Trailing 12-month revenue of $77M; company cites record Q3 sales and momentum as foundation for growth.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/312257/000118518523000092/0001185185-23-000092-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/312257/000118518523000092/innovfood20230206_8k.htm
  HTML page:      https://secwatch.observer/filing/0001185185-23-000092

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