United Fire Group Files 8-K Amendment

TL;DR

UFG filed an 8-K amendment on 3/22 regarding exec/director changes and financials.

AI Summary

United Fire Group, Inc. filed an amendment (8-K/A) on March 22, 2024, to its previous filing dated March 18, 2024. This amendment pertains to the departure of directors or certain officers, the election of directors, the appointment of certain officers, and compensatory arrangements of certain officers. It also includes financial statements and exhibits.

Why It Matters

This filing provides updated information regarding changes in the company's board of directors and executive officers, which can impact corporate governance and strategic direction.

Risk Assessment

Risk Level: low — The filing is an amendment to a previous report and concerns standard corporate governance matters, not immediate financial distress or significant operational changes.

Key Players & Entities

• UNITED FIRE GROUP INC (company) — Registrant
• March 18, 2024 (date) — Earliest event reported date
• March 22, 2024 (date) — Filing date of the amendment
• Iowa (location) — State of incorporation
• Cedar Rapids, Iowa (location) — Principal executive office address

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value UFCS The NASDAQ Global Sele
• $200,000 — one-time bonus payment in the amount of $200,000, payable on the first payroll date foll
• $94,153.85 — ve a severance payment in the amount of $94,153.85 (representing 12 weeks of pay) and a pa
• $48,858 — d unused paid time off in the amount of $48,858 following the separation date. He will

Filing Documents

• tm249527d1_8ka.htm (8-K/A) — 27KB
• tm249527d1_ex10-1.htm (EX-10.1) — 82KB
• tm249527d1_8kaimg001.jpg (GRAPHIC) — 28KB
• 0001104659-24-037878.txt ( ) — 378KB
• ufcs-20240318.xsd (EX-101.SCH) — 3KB
• ufcs-20240318_lab.xml (EX-101.LAB) — 33KB
• ufcs-20240318_pre.xml (EX-101.PRE) — 22KB
• tm249527d1_8ka_htm.xml (XML) — 4KB

02. Departure of Directors or Certain

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On March 18, 2024, United Fire & Casualty Company, a wholly owned subsidiary of the Company, and Mr. Cataldo entered into a Transition & Separation Agreement and Addendum (collectively, the "Separation Agreement"). Pursuant to the Separation Agreement, Mr. Cataldo will continue to be employed by the Company during a transition period until April 30, 2024, unless terminated earlier, and after that time will continue to be available for consultations on an as-needed basis until the separation date, to occur June 30, 2024, unless terminated earlier. The Separation Agreement provides that Mr. Cataldo is entitled to a one-time bonus payment in the amount of $200,000, payable on the first payroll date following the successful completion of the transition period. Mr. Cataldo is also entitled to receive a severance payment in the amount of $94,153.85 (representing 12 weeks of pay) and a payment for accrued and unused paid time off in the amount of $48,858 following the separation date. He will also receive a cash replacement value of 3,490 unvested restricted stock units based on the closing price of the Company's stock on the separation date. Mr. Cataldo's participation in company benefits, the accrual of bonuses, and vesting of equity awards will cease on the separation date. As part of the Separation Agreement, Mr. Cataldo agreed to a general release of claims, a non-solicitation covenant effective for 12 months following the separation date, and to other customary confidentiality and cooperation covenants. The foregoing summary of the Separation Agreement is qualified in its entirety by reference to the full text of the Separation Agreement, a copy of which is filed herewith as Exhibit 10.1 and is incorporated herein by reference.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d)Exhibits Exhibit No. Description 10.1 Transition & Separation Agreement and Addendum, dated March 18, 2024, by and between United Fire & Casualty Company and Robert Cataldo. 104 Cover Page Interactive Data File (the cover page tags are 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. United Fire Group, Inc. (Registrant) Dated: March 22, 2024 /s/ Kevin Leidwinger Kevin Leidwinger, Chief Executive Officer

View Full Filing

View this 8-K/A filing on SEC EDGAR