secwatch.observer — SEC 8-K summary
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Issuer:     MGP INGREDIENTS INC (MGPI)
CIK:        0000835011
Form:       8-K
Filed at:   2025-02-13T23:59:59+00:00
Accession:  0001628280-25-005449
Event type: other_material
Sentiment:  neutral
Materiality: 0.35
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MGP Ingredients approves amended Short Term Incentive Plan effective Jan 1, 2025
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- Amended STIP effective Jan 1, 2025; cash bonus pool set at at least 80% of collective target bonuses.
- Performance goals based on criteria like EPS, revenue, EBITDA, margins, safety; Committee may adjust.
- Participant must be employed on payment date; termination for cause forfeits awards entirely.
- Change in control with qualifying termination entitles pro-rated award based on actual performance.
- Clawback policy applies; Committee may reduce or increase awards at its discretion.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/835011/000162828025005449/0001628280-25-005449-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/835011/000162828025005449/mgpi-20250212.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-005449

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