Village Farms Announces Executive and Board Changes

Ticker: VFF · Form: 8-K · Filed: 2024-08-19T00:00:00.000Z

Sentiment: neutral

Topics: management-change, board-of-directors, executive-compensation

Related Tickers: VFF

TL;DR

VFF board shakeup, new execs in, some old ones out. Keep an eye on strategy shifts.

AI Summary

Village Farms International, Inc. announced on August 15, 2024, changes in its executive team and board of directors. The filing details the departure of certain officers and directors, the election of new directors, and updates to compensatory arrangements for its officers. Specific details regarding the individuals involved and the exact nature of the compensatory arrangements were not fully disclosed in this initial filing.

Why It Matters

Changes in executive leadership and board composition can signal shifts in company strategy, operational focus, or governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: medium — Executive and board changes can introduce uncertainty regarding future strategy and leadership stability.

Key Players & Entities

FAQ

Who are the specific officers and directors departing from Village Farms International, Inc.?

The filing indicates the departure of certain officers and directors but does not name them specifically in the provided text.

Who are the newly elected directors to the board of Village Farms International, Inc.?

The filing states that directors have been elected but does not provide their names in the provided text.

What are the details of the compensatory arrangements for the officers of Village Farms International, Inc.?

The filing mentions updates to compensatory arrangements for certain officers but does not specify the details of these arrangements.

What is the primary business of Village Farms International, Inc.?

Village Farms International, Inc. is in the AGRICULTURE PRODUCTION - CROPS industry.

When was this 8-K filing submitted to the SEC?

This 8-K filing was submitted on August 19, 2024.

From the Filing

0000950170-24-098279.txt : 20240819 0000950170-24-098279.hdr.sgml : 20240819 20240819085101 ACCESSION NUMBER: 0000950170-24-098279 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 12 CONFORMED PERIOD OF REPORT: 20240815 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: 20240819 DATE AS OF CHANGE: 20240819 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: 241218364 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-20240815.htm 8-K 8-K 0001584549 false 00-0000000 0001584549 2024-08-15 2024-08-15   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): August 15, 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 August 15, 2024, Village Farms, L.P. (the “Company”) entered into new employment agreement, effective August 15, 2024 (the “Employment Agreement”), with Michael A. DeGiglio, Chief Executive Officer (the "Executive").   The initial term of the Employment Agreement extends until August 15, 2027, unless earlier te

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