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

Issuer:     BGSF, INC. (BGSF)
CIK:        0001474903
Form:       8-K
Filed at:   2025-03-18T23:59:59+00:00
Accession:  0001474903-25-000018
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BGSF appoints Keith Schroeder as CFO, replacing John Barnett in planned succession
--------------------------------------------------------------------------------

- John Barnett resigned as CFO and Secretary effective March 17, 2025; will stay as advisor during transition.
- Keith Schroeder, age 69, appointed CFO and Secretary effective March 18, 2025.
- Initial base salary $350,000, increasing to $375,000 on March 13, 2026, and $400,000 on March 13, 2027.
- Sign-on equity grant of $200,000 (50% stock options, 50% restricted stock) with three-year cliff vesting on March 13, 2028.
- Eligible for annual bonus based on adjusted EBITDA and acquisition bonus of 1% of acquired company's 12-month adjusted EBITDA.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1474903/000147490325000018/0001474903-25-000018-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1474903/000147490325000018/bgsf-20250312.htm
  HTML page:      https://secwatch.observer/filing/0001474903-25-000018

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