UNIFIRST CORP Reports Officer Changes, Compensation, Shareholder Vote

TL;DR

**UNF just filed an 8-K about executive changes and compensation, watch for details.**

AI Summary

UNIFIRST CORP filed an 8-K on January 12, 2024, reporting events from January 9, 2024, concerning changes in directors or officers, their compensation, and matters submitted to a security holder vote. This filing indicates potential shifts in leadership and governance, which could impact the company's strategic direction and operational efficiency. For investors, these changes are crucial as they can signal future performance and stability, making it important to monitor the specifics of these personnel and compensation adjustments.

Why It Matters

Changes in leadership and executive compensation can significantly influence a company's future strategy and financial health, directly affecting shareholder value.

Risk Assessment

Risk Level: medium — Changes in executive leadership and compensation can introduce uncertainty regarding future company direction and performance, warranting careful investor attention.

Analyst Insight

Investors should monitor UNIFIRST CORP's subsequent filings for specific details on the executive changes, compensation structures, and the outcomes of any security holder votes, as these will provide clarity on the company's future direction and potential impact on stock performance.

Key Numbers

• $0.10 — par value per share (This is the stated par value for UNIFIRST CORP's Common Stock.)

Key Players & Entities

• UNIFIRST CORP (company) — the registrant filing the 8-K
• January 9, 2024 (date) — date of earliest event reported
• January 12, 2024 (date) — date the 8-K was filed
• Massachusetts (company) — state of incorporation for UNIFIRST CORP
• 001-08504 (dollar_amount) — Commission File Number
• 04-2103460 (dollar_amount) — IRS Employer Identification No.
• 68 Jonspin Road, Wilmington, Massachusetts 01887 (company) — Address of Principal Executive Offices
• (978) 658-8888 (dollar_amount) — Registrant’s Telephone Number
• Common Stock, $0.10 par value per share (company) — Title of each class of securities registered
• UNF (company) — Trading symbol for Common Stock

Forward-Looking Statements

• UNIFIRST CORP will provide more detailed information regarding the specific officer changes and compensatory arrangements in subsequent filings or communications. (UNIFIRST CORP) — high confidence, target: Q1 2024
• The 'Submission of Matters to a Vote of Security Holders' indicates an upcoming shareholder meeting or proxy statement detailing the proposals. (UNIFIRST CORP shareholders) — high confidence, target: Q2 2024

FAQ

Key Financial Figures

• $0.10 — nge on which registered Common Stock, $0.10 par value per share UNF New York St

Filing Documents

• unf-20240109.htm (8-K) — 128KB
• unf-ex10_1.htm (EX-10.1) — 129KB
• 0000950170-24-004173.txt ( ) — 398KB
• unf-20240109.xsd (EX-101.SCH) — 29KB
• unf-20240109_htm.xml (XML) — 4KB

07 Submission of Matters to a Vote of Security Holders

Item 5.07 Submission of Matters to a Vote of Security Holders. At the Annual Meeting, the Company’s shareholders voted on and approved (1) the election of Michael Iandoli and Joseph M. Nowicki as Class I Directors, each to serve for a term of three years until the 2027 Annual Meeting of Shareholders and until their respective successors are duly elected and qualified, (2) on a non-binding, advisory basis, the compensation of the Company’s named executive officers as more fully described in the Proxy Statement, (3) on a non-binding, advisory basis, the holding of future non-binding, advisory votes on the compensation of the Company’s named executive officers every year, (4) the 2023 Plan, and (5) the ratification of the appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for the fiscal year ending August 31, 2024. The votes cast by the holders of the Company’s Common Stock and Class B Common Stock on each of the foregoing proposals were as follows: Proposal 1 : Election of two Class I Directors, nominated by the Board of Directors, each to serve for a term of three years until the 2027 Annual Meeting of Shareholders and until their respective successors are duly elected and qualified. Common Stock Class B Common Stock Broker Broker For Withheld Non-Votes For Withheld Non-Votes Michael Iandoli 5,356,746 8,710,225 462,783 35,339,740 146,770 — Joseph M. Nowicki 13,836,004 230,967 462,783 — — — Based on the votes set forth above, each of the two nominees listed above was duly elected as a Class I Director to serve for a term of three years until the 2027 Annual Meeting of Shareholders and until their respective successors are duly elected and qualified. Proposal 2 : Approval, on a non-binding advisory basis, of the compensation of the Company’s named executive officers as more fully described in the Prox

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 10.1 UniFirst Corporation 2023 Equity Incentive Plan 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. UNIFIRST CORPORATION Date: January 12, 2024 By: /s/ Shane O’Connor Shane O’Connor Executive Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR