Lifecore Biomedical Reports Board and Executive Changes
Ticker: LFCR · Form: 8-K · Filed: Sep 26, 2025 · CIK: 1005286
| Field | Detail |
|---|---|
| Company | Lifecore Biomedical, Inc. \De\ (LFCR) |
| Form Type | 8-K |
| Filed Date | Sep 26, 2025 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, compensation
Related Tickers: LFCR
TL;DR
Lifecore Biomedical shakes up board and exec pay - new faces, new terms.
AI Summary
On September 22, 2025, Lifecore Biomedical, Inc. reported a change in its board of directors and executive compensation arrangements. The filing indicates a departure of directors or certain officers, the election of new directors, and updates to compensatory arrangements for key personnel. Specific details regarding the individuals involved and the financial implications of these changes were not fully elaborated in the provided text.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy, governance, or financial priorities, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in leadership and compensation can introduce uncertainty regarding future strategy and operational stability.
Key Numbers
- 000-27446 — SEC File Number (Identifies the company's filing history with the SEC.)
- 94-3025618 — IRS Employer Identification No. (Company's tax identification number.)
Key Players & Entities
- Lifecore Biomedical, Inc. (company) — Registrant
- Delaware (jurisdiction) — State of incorporation
- Chaska, Minnesota (location) — Principal executive offices
FAQ
What specific roles have been affected by the director or officer departures?
The filing indicates departures of directors or certain officers but does not specify the exact roles affected in the provided text.
Who are the newly elected directors?
The filing mentions the election of directors but does not name the individuals elected in the provided text.
What are the key changes in the compensatory arrangements for certain officers?
The filing notes updates to compensatory arrangements but does not detail the specific changes or the officers involved in the provided text.
What is the effective date of these reported changes?
The earliest event reported is dated September 22, 2025.
What was Lifecore Biomedical's former company name and state of incorporation?
Lifecore Biomedical, Inc. was formerly known as Landec Corp \CA\ and was incorporated in Delaware.
Filing Stats: 1,107 words · 4 min read · ~4 pages · Grade level 15.1 · Accepted 2025-09-26 16:33:59
Key Financial Figures
- $0.001 — ich registered Common stock, par value $0.001 per share LFCR The NASDAQ Global Select
Filing Documents
- lfcr-20250922.htm (8-K) — 27KB
- 0001005286-25-000133.txt ( ) — 141KB
- lfcr-20250922.xsd (EX-101.SCH) — 2KB
- lfcr-20250922_lab.xml (EX-101.LAB) — 21KB
- lfcr-20250922_pre.xml (EX-101.PRE) — 12KB
- lfcr-20250922_htm.xml (XML) — 3KB
02 Departure of Directors or Certain Officers; Election of Directors; Appointment of
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On September 22, 2025, the Compensation Committee of the Board of Directors (the "Compensation Committee") of Lifecore Biomedical, Inc. (the "Company") approved a cash incentive pay plan (the "CY 2025 Transition Period Bonus Plan") for the approximately seven-month period from May 26, 2025 through December 31, 2025 ("CY 2025 Transition Period"). The CY 2025 Transition Period Bonus Plan was developed and approved to correspond to the Company's recent change from a fiscal year that ends on the last Sunday of May to a fiscal year that corresponds with the calendar year, ending on December 31 (the "Fiscal Year Change"). The cash incentive pay plan for the Company's fiscal year 2026 ending May 31, 2026 (the "2026 Bonus Plan"), which the Compensation Committee and the Board approved prior to the Fiscal Year Change and the Company disclosed in its Current Report on Form 8-K filed with the Securities and Exchange Commission on July 18, 2025, has been terminated and is being replaced by the CY 2025 Transition Period Bonus Plan. The Compensation Committee also approved the cash bonus opportunities and individual performance objectives under the CY 2025 Transition Period Bonus Plan for each of the Company's executive officers: Paul Josephs, President and Chief Executive Officer; Ryan D. Lake, Chief Financial Officer; and Thomas D. Salus, Chief Legal and Administration Officer. Under the CY 2025 Transition Period Bonus Plan, each executive officer's cash bonus opportunity is weighted 10% to his individual performance objectives and weighted 10% to four equally-weighted Company business goals and objectives. Under the CY 2025 Transition Period Bonus Plan, each executive officer's cash bonus opportunity is weighted 80% to Company financial performance goals of Adjusted EBITDA and total revenue. Achievement of either Adjus