UNIFI Files 8-K on Q4 2023 Results & Officer Changes

Ticker: UFI · Form: 8-K · Filed: Jan 31, 2024 · CIK: 100726

Unifi Inc 8-K Filing Summary
FieldDetail
CompanyUnifi Inc (UFI)
Form Type8-K
Filed DateJan 31, 2024
Risk Levelmedium
Pages3
Reading Time3 min
Key Dollar Amounts$0.10
Sentimentmixed

Complexity: moderate

Sentiment: mixed

Topics: financial-condition, officer-changes, compensatory-arrangements, regulation-fd

TL;DR

**UNIFI just dropped an 8-K covering Q4 2023 financials and executive changes.**

AI Summary

UNIFI, Inc. filed an 8-K on January 31, 2024, reporting on its financial condition and results of operations as of December 31, 2023. The filing also disclosed information regarding the departure or appointment of certain officers and their compensatory arrangements, along with Regulation FD disclosures. This matters to investors because it provides an update on the company's financial health and any significant changes in its executive leadership, which can impact future performance and strategic direction.

Why It Matters

This filing provides crucial updates on UNIFI's financial performance and executive team, which are key indicators for investors assessing the company's stability and future growth prospects.

Risk Assessment

Risk Level: medium — The filing indicates changes in officers and compensatory arrangements, which can introduce uncertainty regarding leadership stability and future strategic direction, warranting a medium risk assessment.

Analyst Insight

A smart investor would closely review the detailed financial statements and the specifics of the officer changes and compensatory arrangements once they become available to assess the full impact on UNIFI's future outlook and leadership stability.

Key Numbers

  • 2023-12-31 — Conformed Period of Report (The end date of the financial period covered by this 8-K filing.)
  • 2024-01-31 — Filed As Of Date (The date the 8-K filing was submitted to the SEC.)
  • 1-10542 — Commission File Number (UNIFI's SEC file number, identifying its registration.)
  • 336 294-4410 — Registrant's Telephone Number (The primary contact number for UNIFI, INC.)
  • 11-2165495 — IRS Employer Identification No. (UNIFI's IRS Employer Identification Number.)

Key Players & Entities

  • UNIFI, INC. (company) — Registrant
  • New York (company) — State of Incorporation
  • Greensboro (company) — City of Principal Executive Offices
  • North Carolina (company) — State of Principal Executive Offices
  • $0.10 (dollar_amount) — par value per share of Common Stock

Forward-Looking Statements

  • UNIFI's stock price (UFI) will experience short-term volatility due to the disclosed officer changes. (UFI) — medium confidence, target: 2024-02-15
  • Analysts will update their financial models for UNIFI based on the 'Results of Operations and Financial Condition' reported for December 31, 2023. (UNIFI, INC.) — high confidence, target: 2024-03-31

FAQ

What specific items are reported in this 8-K filing by UNIFI, INC.?

This 8-K filing includes 'Results of Operations and Financial Condition,' 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers,' 'Regulation FD Disclosure,' and 'Financial Statements and Exhibits' as per the ITEM INFORMATION section.

What is the 'Date of earliest event reported' for this 8-K filing?

The 'Date of earliest event reported' for this 8-K filing is December 31, 2023.

What is the trading symbol and the exchange on which UNIFI, INC.'s Common Stock is registered?

UNIFI, INC.'s Common Stock has the trading symbol 'UFI' and is registered on 'Name of each exchange on which registered' (the filing does not explicitly state the exchange name, only the column header).

What is the address of UNIFI, INC.'s Principal Executive Offices?

The address of UNIFI, INC.'s Principal Executive Offices is 7201 West Friendly Avenue, Greensboro, North Carolina, 27410.

What is the par value per share of UNIFI, INC.'s Common Stock?

The par value per share of UNIFI, INC.'s Common Stock is $0.10 per share.

Filing Stats: 768 words · 3 min read · ~3 pages · Grade level 10.2 · Accepted 2024-01-31 17:00:49

Key Financial Figures

  • $0.10 — ch registered Common Stock, par value $0.10 per share UFI New York Stock Exchan

Filing Documents

02. Results of Operations and Financial Condition

Item 2.02. Results of Operations and Financial Condition. On January 31, 2024, the Company issued a press release announcing its operating results for the fiscal second quarter ended December 31, 2023, a copy of which is attached hereto as Exhibit 99.1. Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 30, 2024, the Board of Directors of the Company appointed Andrew J. ("A.J.") Eaker as the Company's Executive Vice President, Chief Financial Officer (principal financial officer and principal accounting officer), and Treasurer, effective immediately. Mr. Eaker, age 38, previously served as Treasurer and Interim Chief Financial Officer (interim principal financial officer and interim principal accounting officer) of the Company since August 25, 2023, Treasurer of the Company since December 2022, and Vice President of Finance for the Company's primary domestic operating subsidiary since June 2017. A copy of the press release regarding Mr. Eaker's appointment as Chief Financial Officer is filed herewith as Exhibit 99.3. There are no arrangements or understandings between Mr. Eaker and any other persons pursuant to which he was selected as an officer. Mr. Eaker has no family relationships with any of the Company's directors or executive officers. There are no transactions involving the Company and Mr. Eaker that the Company would be required to report pursuant to Item 404(a) of Regulation S-K.

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. On February 1, 2024, the Company will host a conference call to discuss its operating results for the fiscal second quarter ended December 31, 2023. A copy of the materials prepared for use by management during this conference call is attached hereto as Exhibit 99.2.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press Release of Unifi, Inc., dated January 31, 2024. 99.2 Earnings Call Presentation Materials. 99.3 News Release of Unifi, Inc., dated January 31, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). The information in this Current Report on Form 8-K, including the exhibits attached hereto, is being furnished and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in any such filing.

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. UNIFI, INC. Date: January 31, 2024 By: /s/ GREGORY K. SIGMON Gregory K. Sigmon Executive Vice President General Counsel and Corporate Secretary

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