LAKELAND INDUSTRIES INC 8-K

What Happened

• Lakeland Industries, Inc. filed an 8-K on January 9, 2026 reporting that former Chief Financial Officer Roger D. Shannon’s employment terminated effective December 31, 2025. The company and Mr. Shannon executed a General Release and Separation Agreement on January 6, 2026 that provides specified severance and benefit protections in exchange for a release of claims.

Key Details

• Separation agreement execution/date: January 6, 2026; 7‑day revocation period for Mr. Shannon (agreement becomes effective after that period).
• Cash severance: four months of Mr. Shannon’s base salary, payable in substantially equal bi-weekly installments after the agreement becomes effective.
• Bonus and equity: a pro‑rated FY26 short‑term incentive cash bonus (if any) to be determined by the Compensation Committee and paid within 90 days after the FY26 year end (FY ends Jan 31, 2026); continued vesting of Mr. Shannon’s unvested equity awards that are scheduled to vest prior to April 30, 2026.
• Benefits: COBRA continuation payments for up to six months. Severance payments are subject to forfeiture/clawback if Mr. Shannon breaches the agreement.
• The full Separation Agreement will be included with the company’s Form 10‑K for the fiscal year ending January 31, 2026.

Why It Matters

• For investors, this filing confirms a CFO turnover and outlines the near‑term cash and equity items the company may incur (four months’ salary, possible pro‑rated bonus, COBRA costs, and continued vesting for certain awards).
• The agreement limits potential legal claims against the company but contains clawback/forfeiture provisions that could reduce payments if breached.
• The 8‑K does not name a replacement CFO; investors should watch for subsequent filings or announcements about a permanent successor and any potential impact on financial leadership or reporting continuity.