secwatch.observer — SEC 8-K summary
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Issuer:     INNOVATIVE FOOD HOLDINGS INC (IVFH)
CIK:        0000312257
Form:       8-K
Filed at:   2024-01-03T23:59:59+00:00
Accession:  0001185185-24-000018
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Innovative Food Holdings names Gary Schubert new CFO, effective Jan 1, 2024
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- CFO Richard Tang stepped down Dec 31, 2023; departure not due to disagreement with management.
- Gary Schubert appointed CFO effective Jan 1, 2024; brings experience from Walmart and Tyson Foods.
- Employment agreement: $280k base salary, $30k signing bonus, $60k annual target bonus, plus stock awards.
- Stock awards tied to price thresholds ($1.23 to $4.08); up to 131,085 shares at lowest threshold.
- Severance of nine months base salary if terminated without cause or for good reason; at-will through June 30, 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/312257/000118518524000018/0001185185-24-000018-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/312257/000118518524000018/innovfood20240103_8k.htm
  HTML page:      https://secwatch.observer/filing/0001185185-24-000018

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