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John B. Sanfilippo & Son, Inc. (NASDAQ:JBSS) disclosed Monday that it has entered into a separation agreement with Gina Lakatos, its former Vice President and General Counsel. The company had previously announced the elimination of the Vice President, General Counsel position on August 5.
According to a statement filed with the Securities and Exchange Commission, the agreement was reached on August 12. Under the terms, Ms. Lakatos will receive a separation payment of $150,000 and reimbursement for 26 weeks of health insurance premiums under COBRA. In return, she has agreed to provide certain customary releases and to enter into restrictive covenants with the company. The company maintains a strong financial position with a healthy current ratio of 2.01 and operates with moderate debt levels.
The filing notes that the full text of the agreement is included as an exhibit to the current report on Form 8-K. John B. Sanfilippo & Son, Inc. is incorporated in Delaware and is headquartered in Elgin, Illinois. The company’s common stock is listed on the Nasdaq Stock Market under the symbol JBSS.
This information is based on a press release statement included in the company’s SEC filing.
In other recent news, John B. Sanfilippo & Son, a processor of nuts and dried fruits, has announced a special cash dividend of $0.60 per share. This comes in addition to the company’s regular annual cash dividend of $0.90 per share. The combined dividends will result in a return of approximately $17.7 million to shareholders. These dividends will be distributed to stockholders of record as of August 19, 2025, with payment scheduled for September 11, 2025. This announcement highlights the company’s ongoing commitment to returning value to its investors.
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