SunOpta Inc. Terminates Chief Customer Officer’s Employment

SunOpta Inc. recently filed a Form 8-K with the Securities and Exchange Commission, reporting the termination of Chad Hagen, Chief Customer Officer, effective immediately. The termination was effective on December 12, 2024. In connection with Mr. Hagen’s departure, SunOpta Inc. entered into a Separation Agreement and Full and Final Release with him.

As per the Separation Agreement, Mr. Hagen is entitled to certain benefits, including severance pay totaling $175,000 in a lump sum payment, coverage of employer portions and COBRA fees for medical and dental insurance for up to three months if he elects COBRA, and the vesting of 36,667 unvested Restricted Stock Units. Additionally, Mr. Hagen will receive accrued but unused vacation pay, regardless of signing the Separation Agreement. The Company will deduct standard tax and other applicable withholdings from the payments. Furthermore, Mr. Hagen must release the Company from any and all claims, charges, causes of action, and damages by agreeing to the terms outlined in the Separation Agreement.

The Separation Agreement allows Mr. Hagen a seven-day window to revoke the agreement in writing after signing it. If revoked, Mr. Hagen will not receive the outlined payments and benefits. The Separation Agreement was effective as of December 18, 2024.

Additionally, SunOpta Inc. reported in Exhibit 99.1 within the filing that DIRTT Environmental Solutions Ltd., a leader in industrialized construction, announced a normal course issuer bid for common shares. The bid, approved by the Toronto Stock Exchange, allows DIRTT to repurchase up to 7,515,233 common shares over the course of a year. The repurchases will be made on the open market through TSX and/or alternate Canadian trading systems.

It’s important to note that the statements in the filing are forward-looking and subject to certain risks and uncertainties. SunOpta Inc. emphasized the need for investors and stakeholders not to place undue reliance on these forward-looking statements as they involve inherent risks and uncertainties.

For further information regarding the filing, investors and stakeholders can refer to the official filing on the Securities and Exchange Commission’s website.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read SunOpta’s 8K filing here.

About SunOpta

SunOpta Inc engages in manufacture and sale of plant-based and fruit-based food and beverage products in the United States, Canada, and internationally. The company provides plant-based beverages utilizing oat, almond, soy, coconut, rice, hemp, and other bases under the Dream and West Life brands; oat-based creamers under the SOWN brand; ready-to-drink protein shakes; and nut, grain, seed, and legume based beverages; packaged teas and concentrates; and meat and vegetable broths and stocks.