Marzetti's Retail Division President Tanya Berman Is Out As Of October 6, 8-K Says
Berman stays an employee through December 31, 2026, and her severance terms have not been set, the company said.
Tanya Berman, president of the retail division of T. Marzetti Company, is no longer serving in that role as of October 6, according to an 8-K that Marzetti filed Friday. The company announced the change on Monday, October 5.
What the 8-K says
The filing falls under Item 5.02, the section of an 8-K that covers departures of certain officers. T. Marzetti Company is a subsidiary of The Marzetti Company, which trades on the Nasdaq under the symbol MZTI.
Marzetti said it expects Berman to remain an employee until December 31, 2026. So the title ends on October 6, but the employment relationship continues past it.
The company also expects to enter a severance agreement with her in connection with her separation. The filing says the terms "have not been determined at this time."
The 8-K was signed Friday by Thomas K. Pigott, the company's vice president, chief financial officer and assistant secretary.
What it changes for holders
The filing names no successor for the retail division role. A holder reading it learns that the position's current status is a departure, with the replacement left to a later announcement.
The cost of the exit is also open. Severance terms are still to be negotiated, and Marzetti says it will describe the agreement in a future SEC filing once it is signed.
Marzetti shares closed at $102.19 at Thursday's close, a session before the 8-K was filed, according to market data. That price predates the disclosure and is not a reaction to it.
What to watch
The next document to look for is the filing that describes Berman's severance agreement. The company has tied it to the agreement's execution and has given no date.
Berman's employment runs to December 31, 2026, and the severance filing is the next place her terms should appear.
Sources
- 8-K Filing — MARZETTI CO (MZTI) — SEC EDGAR
