COFFEE HOLDING CO INC 8-K

What Happened

• Coffee Holding Co., Inc. (JVA) filed an 8-K on Feb 27, 2026 disclosing that its board approved an amendment (dated Feb 26, 2026) to the employment agreement with Andrew Gordon, who serves as President, CEO, CFO and Treasurer. The amendment reduces Mr. Gordon’s base salary and establishes a future incentive payment contingent on continued employment.

Key Details

• Base salary reduced from $325,000 to $80,000 per year (effective per the Feb 26, 2026 amendment).
• Mr. Gordon granted the right to receive a $1,600,000 incentive bonus if he remains employed through January 1, 2030; the bonus is payable by March 16, 2030.
• Receipt of severance benefits under the amendment requires Mr. Gordon to execute a general release.
• The amendment to the April 11, 2008 employment agreement is filed as Exhibit 10.1 to the 8-K.

Why It Matters

• For investors, this changes the company’s near-term cash compensation for its top executive (much lower annual salary) while creating a sizable contingent long-term payout if the CEO stays through 2030. It affects executive pay disclosure and future cash flow timing but does not, by itself, change reported earnings or revenue.