Highwater Ethanol LLC
09/28/2026 | Press release | Distributed by Public on 09/28/2026 11:08
Management Change/Compensation (Form 8-K)
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 23, 2026, the Board of Directors of Highwater Ethanol, LLC (the "Company") approved amendments to the executive bonus plan for the fiscal year ended October 31, 2026 (the "2026 Bonus Plan"). The Amended and Restated 2026 Executive Bonus Plan is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
The amendments to the 2026 Bonus Plan provide additional bonus eligibility for the Chief Executive Officer and Chief Financial Officer based on (i) the Company meeting certain goals for net income above $10,000,000; and (ii) the receipt by the Company of incentives under tax credits associated with the U.S. federal clean fuel production incentives under Section 45Z of the Internal Revenue Code. Under the plan as modified, the Chief Executive Officer can earn an annual bonus up to 59% of his base salary and the Chief Financial Officer can earn an annual bonus up to 56% of his base salary. All other material terms and conditions of the 2026 Bonus Plan remain in full force and effect. The goals will be assessed as of the end of our fiscal year on October 31, 2026.
This Report on Form 8-K is being furnished pursuant to Item 7.01 Regulation FD Disclosure. The information furnished, including exhibits, is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to the liabilities of that section and is not deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.
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