Alico Extends CEO Kiernan's Term to 2030; Revises Compensation

Alico, Inc. entered into a third amended and restated employment agreement with its President and CEO, John Kiernan, extending his term through September 30, 2030. The agreement sets his annual base salary starting at $550,000, increasing to $650,000 over five years, and revises his bonus structure to include an annual discretionary performance bonus up to $250,000 and real estate incentive bonuses. Additionally, Mr. Kiernan was granted up to 160,000 performance-based restricted stock units (PSUs) tied to stock price targets ranging from $40 to $110 per share.