secwatch.observer — SEC 8-K summary
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Issuer:     BGSF, INC. (BGSF)
CIK:        0001474903
Form:       8-K
Filed at:   2025-06-23T23:59:59+00:00
Accession:  0001474903-25-000076
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BGSF sells Professional Division to INSPYR Solutions for $99M; CEO resigns, interim Co-CEOs appointed
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- Sale of Professional Division (BG F&A, BGSF Professional, foreign subs) to INSPYR Solutions for $99M cash, subject to working capital adjustments.
- CEO Beth Garvey resigns effective July 1, 2025; Kelly Brown (Property Mgmt Pres.) and CFO Keith Schroeder appointed interim Co-CEOs.
- Brown receives 50k restricted shares + 25k options; Garvey gets 12-month salary continuation, COBRA, accelerated vesting, and $300k if deal closes within 12 months.
- Director Cynt Marshall resigns effective July 1, 2025; no disagreement cited.
- Sale requires stockholder vote; BGSF pays $2.97M termination fee if it accepts a superior proposal.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1474903/000147490325000076/0001474903-25-000076-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1474903/000147490325000076/bgsf-20250620.htm
  HTML page:      https://secwatch.observer/filing/0001474903-25-000076

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