UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) February 9, 2023
Superior Group of Companies, Inc.
(Exact name of registrant as specified in its charter)
Florida | 001-05869 | 11-1385670 |
(State or other jurisdiction
of incorporation) | (Commission
File Number) | (IRS Employer
Identification No.) |
| | | |
10055 Seminole Blvd.,Seminole,Florida (Address of principal executive offices) | | 33772 (Zip Code) |
Registrant's telephone number including area code: (727) 397-9611
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| | ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230 .425) |
| | | |
| | ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| | | |
| | ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| | ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock | SGC | NASDAQ |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 9, 2023, Superior Group of Companies, Inc., a Florida corporation (the “Company”), was notified by Andrew D. Demott, Jr. that he intends to retire, effective as of March 31, 2023 (the “Effective Date”), from the position of Chief Operating Officer of the Company. Mr. Demott will remain on the Board of Directors of the Company and on its Executive Committee, and will receive compensation in accordance with the Company’s compensation practices with respect to non-employee directors.
In connection with Mr. Demott’s retirement and in recognition of Mr. Demott’s almost 25 years of service to the Company, the Compensation Committee of the Company’s Board of Directors determined to accelerate the vesting of 4,461 restricted stock awards held by Mr. Demott and granted under the Company’s 2013 Equity Incentive and Awards Plan, as amended, to the Effective Date.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits:
Exhibit No. Description
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunder duly authorized.
| | SUPERIOR GROUP OF COMPANIES, INC. | |
| | | | |
| | | | |
| | By: | /s/ Michael J. Koempel | |
| | | Michael J. Koempel | |
| | | Chief Financial Officer | |
Date: February 9, 2023
