HF Foods (HFFG) CEO Lin Xi granted 69,718 performance stock units tied to revenue, EBITDA targets

Rhea-AI Filing Summary

HF Foods Group Inc. President and CEO Lin Xi received a grant of 69,718 Performance Stock Units (PSUs), each linked to the issuer's Class A common stock. Each PSU represents a contingent right to receive between 1 and 1.5 shares of Class A common stock if specific conditions are met.

The PSUs are scheduled to vest on April 15, 2027, provided the company achieves defined revenue and adjusted EBITDA targets for the years ended December 31, 2024, 2025, and 2026. Following this grant, Lin Xi holds 69,718 PSUs directly, with no exercise price and no immediate cash transaction.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Lin Xi

Role President and CEO

Type	Security	Shares	Price	Value
Grant/Award	Performance Stock Units	69,718	$0.00	--

Holdings After Transaction: Performance Stock Units — 69,718 shares (Direct, null)

Footnotes (1)

1. Each performance stock unit ("PSU") represents a contingent right to receive 1 to 1.5x shares of the Issuer's Class A Common Stock upon satisfaction of applicable vesting conditions. The PSUs are scheduled to vest on April 15, 2027, if the Company achieves certain revenue and adjusted EBITDA targets for each year ended on December 31, 2024, 2025, and 2026.

Key Figures

PSUs granted: 69,718 units Underlying common stock: 69,718 shares Share conversion range: 1 to 1.5 shares per PSU +3 more

6 metrics

PSUs granted 69,718 units Grant of Performance Stock Units to CEO Lin Xi

Underlying common stock 69,718 shares Common Stock underlying granted PSUs

Share conversion range 1 to 1.5 shares per PSU Contingent conversion into Class A common stock

Vesting date April 15, 2027 Scheduled vesting of PSUs if conditions are met

Exercise price $0.00 per unit No exercise price for PSUs granted

Holdings after transaction 69,718 PSUs Total PSUs held directly by Lin Xi after grant

Key Terms

Performance Stock Units, adjusted EBITDA, vesting conditions

3 terms

Performance Stock Units financial

"Each performance stock unit ("PSU") represents a contingent right to receive 1 to 1.5x shares..."

Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.

adjusted EBITDA financial

"The PSUs are scheduled to vest... if the Company achieves certain revenue and adjusted EBITDA targets..."

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

vesting conditions financial

"represents a contingent right to receive 1 to 1.5x shares... upon satisfaction of applicable vesting conditions."

Vesting conditions are the rules that determine when someone earning company stock or stock options actually gains the right to keep or sell them, typically based on staying with the company for a set time or meeting performance targets. Think of it like keys that unlock gradually — some unlock by calendar date, others only after agreed milestones. Investors care because vesting shapes management incentives, the timing of share sales, and the number of shares that can enter the market, which can affect a company's valuation and ownership mix.

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Lin Xi

(Last) (First) (Middle)

C/O HF FOODS GROUP INC

6325 SOUTH RAINBOW BOULEVARD, SUITE 420

(Street)

LAS VEGAS NEVADA 89118

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
HF Foods Group Inc. [ HFFG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/05/2024

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)
06/07/2024

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Performance Stock Units	(1)	06/05/2024		A		69,718		(2)	(2)	Common Stock	69,718	$0	69,718	D

Explanation of Responses:

1. Each performance stock unit ("PSU") represents a contingent right to receive 1 to 1.5x shares of the Issuer's Class A Common Stock upon satisfaction of applicable vesting conditions.

2. The PSUs are scheduled to vest on April 15, 2027, if the Company achieves certain revenue and adjusted EBITDA targets for each year ended on December 31, 2024, 2025, and 2026.

Remarks:

This amendment has been filed to include PSU awards that were erroneously omitted from the originally filed Form 4 which was filed with the Securities and Exchange Commission on June 7, 2024.

	/s/ Xi Lin	06/05/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did HF Foods Group (HFFG) CEO Lin Xi receive in this Form 4/A?

Lin Xi received a grant of 69,718 Performance Stock Units (PSUs) tied to Class A common stock. These units are a form of equity compensation that may convert into shares if future performance and vesting conditions are satisfied.

How many Performance Stock Units were granted to HF Foods (HFFG) CEO Lin Xi?

Lin Xi was granted 69,718 Performance Stock Units. Each unit is linked to Class A common stock and may convert into 1 to 1.5 shares per unit if the company meets specified revenue and adjusted EBITDA performance targets through 2026.

When do Lin Xi’s Performance Stock Units at HF Foods (HFFG) vest?

The Performance Stock Units are scheduled to vest on April 15, 2027. Vesting depends on HF Foods achieving defined revenue and adjusted EBITDA targets for the years ended December 31, 2024, 2025, and 2026 under the PSU award terms.

What performance conditions apply to HF Foods (HFFG) CEO Lin Xi’s PSUs?

The PSUs vest only if HF Foods hits certain revenue and adjusted EBITDA targets for 2024, 2025, and 2026. These financial performance measures determine whether the units vest on April 15, 2027, and how many common shares each unit ultimately delivers.

How many HF Foods (HFFG) shares can Lin Xi’s PSUs convert into?

Each PSU represents a contingent right to receive between 1 and 1.5 shares of Class A common stock. The actual number of shares issuable per PSU depends on how HF Foods performs against the specified revenue and adjusted EBITDA targets through 2026.

What is Lin Xi’s holding after this HF Foods (HFFG) PSU grant?

After this grant, Lin Xi directly holds 69,718 Performance Stock Units. These derivative securities carry no exercise price and will only convert into Class A common shares if the vesting and performance conditions through April 15, 2027 are satisfied.