Sanfilippo John B & Son Inc: ceo transition and officer appointments

What happened The company announced that Mr. Jeffrey T. Sanfilippo transitioned from chief executive officer to executive chair of the board and that Mr. Jasper B. Sanfilippo, Jr. assumed the role of chief executive officer, effective Oct 1, 2026. The board also appointed Mr. Frank Pellegrino, the company’s chief financial officer, executive vice president, finance and administration, as president and chief financial officer, and Mr. Pellegrino assumed that role on Oct 1, 2026. In connection with his appointment, Mr. Pellegrino signed an employment letter with the company on Oct 1, 2026.

Key details (bullet points)

• Mr. Pellegrino’s base salary was increased to $700,000 per year and his target bonus is 100% of his salary.
• Mr. Pellegrino will receive an annual equity award for fiscal 2027 of $600,000 and an additional one-time equity award of $750,000 when the company grants equity awards for fiscal 2027.
• The employment letter provides cash severance benefits equal to either 1 times or 2 times the sum of Mr. Pellegrino’s salary and target bonus if the company terminates him without cause or he resigns for “Good Reason,” and provides for accelerated vesting of certain equity awards in those circumstances.
• Receipt of severance or accelerated vesting requires certain customary releases and restrictive covenants; the company said it will file the employment letter with the periodic report covering the Oct 1, 2026 transition date.

Why it may matter This Item 5.02 filing reports departures, elections and appointments of certain officers and describes compensatory arrangements for the newly appointed president and chief financial officer, including salary, bonus, equity awards and severance provisions. A filing does not show why the insider traded or why the company acted.