ALICO, INC. - Form 8-K Filing

Alico, Inc. has amended its employment agreement with CEO John Kiernan, extending his term through September 30, 2030. His base salary will increase from $550,000 to $650,000 over five years. In case of termination without cause or for good reason after a change in control, he will receive 200% of his base salary as severance. Kiernan is also eligible for an annual bonus of up to $250,000 and real estate incentive bonuses, payable in cash and/or restricted stock units. Additionally, he was granted performance-based restricted stock units (PSUs) with targets ranging from $40 to $110 per share, subject to time-based vesting and continued service. These PSUs may vest earlier upon a change in control or certain termination scenarios.