Limoneira Announces Board and Executive Compensation Changes
Ticker: LMNR · Form: 8-K · Filed: Aug 23, 2024 · CIK: 1342423
Sentiment: neutral
Topics: governance, executive-compensation, board-changes
Related Tickers: LMNR
TL;DR
LMNR board shakeup and comp plan updates filed. Watch for new director impact.
AI Summary
Limoneira Company (LMNR) announced on August 22, 2024, changes in its board of directors and executive compensation arrangements. The filing details the departure of a director and the election of a new director, along with updates to executive compensation plans.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing primarily concerns routine corporate governance and executive compensation matters, with no immediate financial distress or significant operational changes indicated.
Key Players & Entities
- Limoneira Company (company) — Registrant
- LMNR (company) — Ticker Symbol
- August 22, 2024 (date) — Date of Report
- Delaware (jurisdiction) — State of Incorporation
- 1141 Cummings Road, Santa Paula, CA 93060 (address) — Principal Executive Offices
FAQ
Who departed from the Limoneira Company's board of directors?
The filing indicates the departure of a director, though the specific name is not detailed in the provided text.
When was the report filed?
The report was filed on August 23, 2024, and the date of the earliest event reported is August 22, 2024.
What are the main items covered in this 8-K filing?
The filing covers the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers, as well as financial statements and exhibits.
What is Limoneira Company's state of incorporation?
Limoneira Company is incorporated in Delaware.
What is the principal executive office address for Limoneira Company?
The principal executive office is located at 1141 Cummings Road, Santa Paula, CA 93060.
Filing Stats: 1,160 words · 5 min read · ~4 pages · Grade level 12.9 · Accepted 2024-08-23 06:04:44
Key Financial Figures
- $0.01 — ch Registered Common Stock, par value $0.01 per share LMNR The NASDAQ Stock Mark
- $3,750,000 — . Edwards provides for a base amount of $3,750,000 provided that the price per share of Co
- $28.00 — received in any Transaction is at least $28.00 per share (the " Base Share Price "). M
- $0.25 — are price above the Base Share Price in $0.25 increments up to, but not including $40
- $40.00 — .25 increments up to, but not including $40.00 per share (the " Target Share Price "),
- $5,250,000 — rds will receive a Transaction Bonus of $5,250,000 (the " Edwards Target Transaction Bonus
- $1.00 — Transaction Bonus Amount "). For every $1.00 increase above the Target Share Price,
- $62,500 — ction Bonus Amount will be increased by $62,500. The Transaction Bonus Agreement betwe
- $2,225,000 — amountain provides for a base amount of $2,225,000 provided that the price per share of Co
- $3,150,000 — rds will receive a Transaction Bonus of $3,150,000 (the " Palamountain Target Transaction
- $37,500 — ction Bonus Amount will be increased by $37,500. If the Transaction Bonuses become pay
Filing Documents
- tm2422511d1_8k.htm (8-K) — 30KB
- tm2422511d1_ex10-1.htm (EX-10.1) — 74KB
- tm2422511d1_ex10-2.htm (EX-10.2) — 74KB
- 0001104659-24-092145.txt ( ) — 375KB
- lmnr-20240822.xsd (EX-101.SCH) — 3KB
- lmnr-20240822_lab.xml (EX-101.LAB) — 33KB
- lmnr-20240822_pre.xml (EX-101.PRE) — 22KB
- tm2422511d1_8k_htm.xml (XML) — 3KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits 10.1 Transaction Bonus Agreement, dated August 22, 2024, between Harold Edwards and Limoneira Company. 10.2 Transaction Bonus Agreement, dated August 22, 2024, between Mark Palamountain and Limoneira Company. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: August 22, 2024 LIMONEIRA COMPANY By: /s/ Mark Palamountain Mark Palamountain Executive Vice President, Chief Financial Officer, and Treasurer