secwatch.observer — SEC 8-K summary
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Issuer:     CAL-MAINE FOODS INC (CALM)
CIK:        0000016160
Form:       8-K
Filed at:   2023-03-27T23:59:59+00:00
Accession:  0001562762-23-000134
Event type: leadership
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cal-Maine Foods appoints Todd Walters COO, Matt Whiteman VP Operations; adopts executive retirement plans
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- Todd Walters named COO effective March 27, 2023; base salary $229,341, eligible for bonus and LTIP.
- Matt Whiteman promoted to VP Operations; previously General Manager of Waelder, Texas operations.
- Company adopted SERP providing $500,000 retirement benefit (10 annual $50k payments) for CEO, CFO, General Counsel.
- Split Dollar Life Insurance Plan provides $500,000 pre-retirement death benefit for the same three executives.
- SERP vests over 5 years at 20% per year; accelerated on disability, age 65, or change in control.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/16160/000156276223000134/0001562762-23-000134-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/16160/000156276223000134/calm8k20230327.htm
  HTML page:      https://secwatch.observer/filing/0001562762-23-000134

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