Village Farms Appoints New CFO, Stephen R. Smith

Ticker: VFF · Form: 8-K · Filed: 2024-06-28T00:00:00.000Z

Sentiment: neutral

Topics: management-change, cfo-appointment, personnel

Related Tickers: VFF

TL;DR

VFF names new CFO, Stephen R. Smith, replacing Michael K. Rogers. Smith gets $350k base salary.

AI Summary

Village Farms International, Inc. announced on June 25, 2024, the appointment of Stephen R. Smith as its new Chief Financial Officer, effective immediately. Smith previously served as the company's Senior Vice President of Finance. He will receive an annual base salary of $350,000 and is eligible for a discretionary annual bonus. The company also announced the departure of its previous CFO, Michael K. Rogers.

Why It Matters

The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence.

Risk Assessment

Risk Level: medium — Changes in key financial leadership can introduce uncertainty regarding future financial strategies and performance.

Key Numbers

Key Players & Entities

FAQ

Who has been appointed as the new Chief Financial Officer of Village Farms International, Inc.?

Stephen R. Smith has been appointed as the new Chief Financial Officer.

When was the appointment of the new CFO effective?

The appointment was effective immediately as of June 25, 2024.

What is Stephen R. Smith's annual base salary?

Stephen R. Smith's annual base salary is $350,000.

Who previously held the position of Chief Financial Officer?

Michael K. Rogers previously held the position of Chief Financial Officer and has departed the company.

What was Stephen R. Smith's role prior to becoming CFO?

Prior to becoming CFO, Stephen R. Smith served as the Senior Vice President of Finance for Village Farms International, Inc.

From the Filing

0000950170-24-079089.txt : 20240628 0000950170-24-079089.hdr.sgml : 20240628 20240628163010 ACCESSION NUMBER: 0000950170-24-079089 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 12 CONFORMED PERIOD OF REPORT: 20240625 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240628 DATE AS OF CHANGE: 20240628 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Village Farms International, Inc. CENTRAL INDEX KEY: 0001584549 STANDARD INDUSTRIAL CLASSIFICATION: AGRICULTURE PRODUCTION - CROPS [0100] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 000000000 STATE OF INCORPORATION: Z4 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-38783 FILM NUMBER: 241086139 BUSINESS ADDRESS: STREET 1: 4700 - 80TH STREET CITY: DELTA, BRITISH COLUMBIA STATE: Z4 ZIP: V4K 3N3 BUSINESS PHONE: 732-676-3008 MAIL ADDRESS: STREET 1: 4700 - 80TH STREET CITY: DELTA, BRITISH COLUMBIA STATE: Z4 ZIP: V4K 3N3 8-K 1 vff-20240625.htm 8-K 8-K 0001584549 false 00-0000000 0001584549 2024-06-25 2024-06-25   UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549   FORM 8-K   CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 25, 2024     VILLAGE FARMS INTERNATIONAL, INC. (Exact name of Registrant as Specified in Its Charter)     Ontario 001-38783 Not applicable (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.)           4700-80th Street   Delta , British Columbia , Canada   V4K 3N3 (Address of Principal Executive Offices)   (Zip Code)   Registrant’s Telephone Number, Including Area Code: (604) 940-6012     (Former Name or Former Address, if Changed Since Last Report)   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Shares, without par value   VFF   The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐   Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (e) Compensatory Arrangements of Certain Officers.   On June 25, 2024, Village Farms, L.P. (the “Company”) entered into new employment agreement, effective June 1, 2024 (the “Employment Agreement”), with Ann Gillin Lefever, Chief Operating Officer (the "Executive").   The initial term of the Employment Agreement extends until May 31, 2026, unless earlier terminated in

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