SUPERIOR GROUP OF COMPANIES, INC. 8-K

What Happened
Superior Group of Companies, Inc. announced on May 26, 2026 that it entered into a new employment agreement with Chief Executive Officer Michael Benstock. The agreement runs through May 31, 2029 (unless earlier terminated) and sets Mr. Benstock’s initial annual base salary at $1,044,399. It replaces his prior Severance Protection Agreement dated November 23, 2005.

Key Details

• Employment term: through May 31, 2029 (starts per agreement dated May 26, 2026).
• Base salary: $1,044,399 initially.
• Guaranteed annual bonus: at least $500,000 for each of fiscal years 2026, 2027 and 2028 if employed on December 31 of the applicable year (prorated for earlier departures).
• Retention and severance: $2,100,000 retention bonus payable within 240 days after voluntary retirement or resignation for Good Reason; if terminated without Cause within 12 months after a Change in Control, or terminated without Cause or resigns for Good Reason during the term, he is entitled to 2.0x his highest annual compensation plus the prorated minimum guaranteed bonus, plus accrued pay, expenses and earned benefits (subject to a release and other post‑termination obligations).
• Other provisions: non-compete, non-solicitation and confidentiality obligations; prorated acceleration of unvested restricted stock upon retirement; office and up to 25 hours/month of administrative assistant services for personal/professional use.

Why It Matters
This agreement formalizes CEO Michael Benstock’s compensation and retention through 2029 and includes guaranteed bonuses and a substantial retention/severance package that could increase the company’s cash or non-cash compensation costs in the near term or upon certain termination events. Investors should note the specific payout triggers (Change in Control, termination without Cause, Good Reason) and the 2.0x severance multiplier, which are the primary potential sources of material cash obligations tied to executive transition events.