ALICO, INC. Form 8-K Summary
Business Context and Reporting Period
This Form 8-K Current Report was filed by ALICO, INC. on June 13, 2011. The filing reports a material corporate governance event: the appointment of a new Chief Financial Officer.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on executive compensation and appointment details.
Material Changes
The primary material change is the appointment of Mark Humphrey as Chief Financial Officer, effective June 20, 2011. Mr. Humphrey will oversee all corporate finance, treasury, and accounting functions for Alico, Inc. and its subsidiaries.
Management Commentary and Compensation
Management has outlined the following compensation package for the new CFO:
- Base Salary: $200,000 annually.
- Signing Bonus: $25,000.
- Incentives: Eligible for an annual discretionary bonus and participation in the 2011 Long Term Incentive Program.
- Benefits: Eligible for health and benefits, profit sharing, and 401(k) plans subject to normal vesting.
- Vacation: Three weeks annually.
Investor Verification Checklist
- Verify the effective date of the CFO appointment (June 20, 2011).
- Confirm the total initial cash compensation ($225,000 including signing bonus).
- Review the attached press release (Exhibit 99.1) for additional biographical details on Mark Humphrey.
- Note that no financial performance data or guidance is included in this specific filing.