Filing Analysis
Alico, Inc. filed an 8-K to announce the release of its financial results for the three and nine months ended June 30, 2026.
📋 Key Facts
- Company issued a press release on August 10, 2026, regarding quarterly earnings.
- Financial results cover the periods ending June 30, 2026 (three and nine months).
- The filing is pursuant to Item 2.02 of Form 8-K.
Alico, Inc. entered into a third amended and restated employment agreement with its President and CEO, John Kiernan, effective July 14, 2026. The agreement extends his term through September 30, 2030, and includes updated salary, bonus structures, and performance-based restricted stock units (PSUs).
🚩 Red Flags
- Significant change in compensation structure for the CEO, including high severance multipliers (200%) triggered by Change in Control events.
📋 Key Facts
- CEO John Kiernan's employment term extended through September 30, 2030.
- Base salary starts at $550,000 for year one, increasing by $25,000 annually to a cap of $650,000.
- Enhanced severance provision: 200% of annual base salary if terminated without 'Cause' or for 'Good Reason' following a Change in Control.
- New bonus structure includes discretionary performance bonuses up to $250,000 and real estate incentive awards (75% cash / 25% RSUs).
- Grant of up to 160,000 Performance-Based Restricted Stock Units (PSUs) tied to 60-day VWAP targets ranging from $40 to $110 per share.
- PSU vesting is subject to both performance achievement and time-based service requirements through 2030.
Alico, Inc. entered into an Agricultural Lease Agreement with United States Sugar Corporation for approximately 3,280 acres in Hendry County, Florida. The agreement includes a one-year initial term starting July 1, 2026, and provides the lessee with an option to purchase the land at $9,000 per acre.
🚩 Red Flags
- The agreement includes a purchase option which may lead to the loss of land assets in exchange for cash, potentially impacting long-term real estate holdings depending on market valuation vs. strike price.
📋 Key Facts
- Agreement entered into on June 18, 2026, with United States Sugar Corporation.
- Lease covers approximately 3,280 acres in Hendry County, Florida.
- Initial lease term: July 1, 2026, to June 30, 2027.
- Option for a ten-year extension period included.
- Purchase option price set at $29,520,000 (based on ~$9,000 per acre) if exercised by June 30, 2029.
Alico, Inc. announced a quarterly cash dividend of $0.05 per share for the first quarter of fiscal year 2026.
📋 Key Facts
- Dividend amount: $0.05 per share on outstanding common stock.
- Record date: January 2, 2026.
- Payment date: Expected on January 16, 2026.
- Fiscal Period: Q1 of fiscal year 2026.
Alico, Inc. has amended and restated its bylaws to adjust the permitted size of its Board of Directors.
📋 Key Facts
- The Board approved and adopted the Third Amended and Restated Bylaws on December 11, 2025.
- The amendment changes the Board size range to be between five (5) and eleven (11) directors.
- The changes were effective immediately upon Board approval.
Alico, Inc. filed an 8-K to furnish its quarterly and annual financial results for the periods ended September 30, 2025. The filing serves as a formal announcement of the company's earnings release.
📋 Key Facts
- The company issued a press release on November 24, 2025, regarding financial results.
- Results cover the three and twelve months ended September 30, 2025.
- The filing is made pursuant to Item 2.02 of Form 8-K.
Alico, Inc. announced that its Stewardship District entered into a Locally Funded Agreement with the Florida Department of Transportation (FDOT) to fund infrastructure and wildlife corridor projects. The company is required to deposit $5,071,439.33 within 14 days of execution.
🚩 Red Flags
- Related-party transaction: The Company's CEO, John Kiernan, serves as the Board Chairman of the Stewardship District involved in this agreement.
- Potential for uncapped liability: The agreement requires advancing additional amounts 'without delay' if project costs increase.
📋 Key Facts
- Agreement date: October 27, 2025.
- The Stewardship District (established June 2025) entered into a Locally Funded Agreement with FDOT.
- Company must deposit $5,071,439.33 with FDOT within 14 days of execution.
- The funds are for the construction of a wildlife-crossing culvert under State Road 82 and raising the road profile.
- Additional funding may be required if project costs increase; refunds are possible if final costs are lower than deposits.
Alico, Inc. completed a refinancing transaction to repay $10 million in outstanding debt to Prudential Mortgage Capital Company, LLC. This was achieved by entering into an Eighth Amendment to its existing MetLife Credit Agreement, which includes incurring $10 million in additional indebtedness and modifying LTV covenants.
🚩 Red Flags
- Increased total debt load through the incurrence of $10 million in new indebtedness.
- Tightened LTV covenant (must remain < 50%), which may limit future borrowing capacity or asset flexibility.
📋 Key Facts
- Repaid full amount of Prudential Credit Agreement (up to $10 million plus prepayment premiums) on September 29, 2025.
- Entered into Eighth Amendment ('MetLife Amendment') with MetLife Investment Management, LLC.
- Incurred $10 million in additional indebtedness under the MetLife Credit Agreement.
- New debt maturity date set for May 1, 2034.
- Modified LTV (Loan-to-Value) Ratio covenant to require it be at all times less than 50%.
- Amended mortgages to add additional real property as collateral.
Alico, Inc. announced a cash dividend of $0.05 per share for the fourth quarter of fiscal year 2025. The dividend is payable to shareholders of record as of September 26, 2025.
📋 Key Facts
- Dividend amount: $0.05 per share
- Dividend period: Fourth quarter of fiscal year 2025
- Record date: September 26, 2025
- Payment date: Expected October 10, 2025
Alico, Inc. filed an 8-K to announce the release of its financial results for the three and nine months ended June 30, 2025.
📋 Key Facts
- The filing is a standard announcement of quarterly/periodical financial results (Item 2.02).
- Reporting period covers the three and nine months ended June 30, 2025.
- Financial results were released via press release on August 12, 2025.
Alico, Inc. announced the resignation of its President of Alico Citrus and a significant amendment to the employment agreement of its Executive Vice President – Real Estate.
🚩 Red Flags
- Departure of a key divisional officer (President of Alico Citrus) can signal internal friction or strategic shifts.
- The PSU award for Mitch Hutchcraft is highly contingent on long-term milestones (2035), creating significant potential dilution and long-term liability.
📋 Key Facts
- Danny Sutton resigned as President of Alico Citrus, effective August 1, 2025.
- Mitch Hutchcraft (EVP - Real Estate) entered into a letter agreement amending his employment terms through at least September 30, 2030.
- Mr. Hutchcraft's base salary will increase by $25,000 per year starting in fiscal year 2026 (new base: $360,000).
- The amendment includes a performance-based RSU award tied to the completion of permits for the Corkscrew Grove Villages project by September 30, 2035.
- The PSU Award value is pegged at $1 million, with share quantity determined by the average stock price over the 10 trading days preceding the Completion Date.
Alico, Inc. announced a cash dividend of $0.05 per share for the third quarter of fiscal year 2025. The dividend is payable to shareholders of record as of June 27, 2025.
📋 Key Facts
- Dividend amount: $0.05 per share
- Record date: June 27, 2025
- Payment date: July 11, 2025
- Fiscal period: Q3 Fiscal Year 2025
Alico, Inc. has mutually terminated its Orange Purchase Agreement with Tropicana Manufacturing Company, Inc., effective May 23, 2025. The termination includes a mutual release clause and requires the settlement of all outstanding obligations by July 15, 2025.
🚩 Red Flags
- Termination of a material supply/purchase agreement can impact predictable revenue streams or cost structures for micro-cap agricultural companies.
📋 Key Facts
- The parties entered into a Mutual Contract Termination Agreement on May 23, 2025.
- The agreement being terminated is the Orange Purchase Agreement dated April 11, 2024 (Agreement Number: R641).
- Termination is effective immediately by mutual consent.
- All obligations for the 2024/2025 Crop Year must be fulfilled.
- Outstanding accounts and obligations are to be settled by July 15, 2025.
- The termination includes a mutual release clause discharging both parties from claims related to the agreement.
Alico, Inc. filed an 8-K to announce the release of its financial results for the three and six months ended March 31, 2025.
📋 Key Facts
- Reporting period: Three and six months ended March 31, 2025.
- Filing date: May 13, 2025.
- The filing includes a press release (Exhibit 99.1) detailing financial results.
Alico, Inc. entered into a $183.7 million agreement to sell land and assets to Harford Farms LLC, but the buyer subsequently terminated the deal on May 1, 2025, due to an inability to secure financing.
🚩 Red Flags
- Significant loss of potential capital inflow ($183.7M deal collapsed within 9 days)
- Deal failure due to buyer's inability to secure financing, indicating high execution risk for large asset sales
- Multiple material items in a single filing (Entry and Termination)
📋 Key Facts
- Original Agreement Date: April 22, 2025
- Termination Date: May 1, 2025
- Total Purchase Price: Approximately $183.7 million
- Sellers: Alico, Inc., 734 LMC Groves, LLC, and Harford Farms LLC (Note: Text identifies Buyer as Harford Farms LLC but lists Sellers including Harford Farms; likely a typo in filing or complex structure)
- Termination Reason: Buyer unable to meet the Financing Contingency
- Penalty: No early termination penalties incurred by either party
Alico, Inc. is winding down its primary citrus production operations due to financial challenges from citrus greening disease and environmental factors. The company plans to pivot toward a long-term diversified land usage and real estate development strategy.
🚩 Red Flags
- Significant loss of core operating assets (90% of producing acres abandoned).
- Accelerated depreciation will likely result in substantial non-cash impairment charges/write-downs.
- Core business model is being dismantled due to environmental and disease-related financial challenges.
📋 Key Facts
- Company will wind down substantially all Citrus' primary operations after the current crop harvest in H1 2025.
- Approximately 90% of total producing acres will be abandoned at the end of the Fiscal year 2025 harvest season.
- The company will accelerate depreciation of trees through April 2025 as they are considered disposed of under GAAP.
- Strategic shift from citrus production to land usage and real estate development.
Alico, Inc. announced that its Board of Directors approved a new stock repurchase program on March 25, 2025. The program authorizes the company to buy back up to $50 million of common stock through April 1, 2028.
📋 Key Facts
- Board approval date: March 25, 2025
- Maximum repurchase amount: $50.0 million
- Expiration date of program: April 1, 2028
- Repurchases to be conducted under Rule 10b-18 and potentially via Rule 10b5-1 plans
- Common stock par value: $1.00
Alico, Inc. entered into a Seventh Amendment to its existing Credit Agreement with MetLife Investment Management on March 31, 2025. The amendment modifies reporting requirements, affirmative covenants, and restrictive covenants related to liquidity and debt disbursement.
🚩 Red Flags
- Frequent amendments (this is the 7th amendment) to a long-standing credit agreement may indicate ongoing tension or evolving financial conditions regarding covenant compliance.
- Modifications to 'minimum liquidity requirements' and 'disbursement requests' can sometimes signal a need for more flexible terms due to cash flow management.
📋 Key Facts
- Entered into Seventh Amendment to Credit Agreement on March 31, 2025.
- Counterparties include MetLife Investment Management, LLC (Metropolitan Life Insurance Company and New England Life Insurance Company).
- Amendment modifies reporting requirements under the existing December 1, 2014 agreement.
- Modifications include changes to Affirmative Covenants and Restrictive Covenants.
- Specific focus on Third Amended and Restated RLOC Note disbursement requests, planned paydowns, catastrophic insurance coverage, LT Covenant, and minimum liquidity requirements.
Alico, Inc. announced a cash dividend of $0.05 per share for the second quarter of fiscal year 2025. The dividend is payable to shareholders of record as of March 28, 2025.
📋 Key Facts
- Dividend amount: $0.05 per share
- Record date: March 28, 2025
- Payment date: April 11, 2025
- Fiscal period: Q2 Fiscal Year 2025
Alico, Inc. held its 2025 Annual Meeting of Shareholders on February 28, 2025. Shareholders approved the election of eight directors, the ratification of Grant Thornton LLP as independent auditors, and an amendment to the company's Stock Incentive Plan.
📋 Key Facts
- Annual Meeting held on February 28, 2025.
- Shareholders approved the amendment and restatement of the Alico, Inc. Stock Incentive Plan of 2015, extending its term to December 17, 2035.
- Eight directors were elected: George R. Brokaw, Katherine R. English, Benjamin D. Fishman, John E. Kiernan, W. Andrew Krusen, Jr., Toby K. Purse, Adam H. Putnam, and Henry R. Slack.
- Grant Thornton LLP was ratified as the independent registered public accounting firm for the fiscal year ending September 30, 2025.
- Quorum was established with 5,667,530 shares represented in person or by proxy.
Alico, Inc. filed an 8-K to announce the release of its financial results for the three months ended December 31, 2024.
📋 Key Facts
- The filing is a standard announcement of quarterly earnings (Item 2.02).
- Financial results cover the period ending December 31, 2024.
- A press release containing the results was issued on February 12, 2025.
Alico, Inc. is undergoing a strategic pivot to wind down its citrus production division due to environmental challenges and disease. This includes a workforce reduction of up to 172 employees and the termination of certain orange purchase obligations with Tropicana Manufacturing Company.
🚩 Red Flags
- Significant workforce reduction (up to 172 employees) indicating operational distress in the core citrus division.
- Strategic wind-down of a major business segment (Alico Citrus division).
- Explicit mention of 'increasing financial challenges' and risks related to debt service and cash flow in forward-looking statements.
📋 Key Facts
- Company to reduce workforce by up to 172 employees (135 effective ~Jan 6, 2025; 37 effective ~April 1, 2025).
- Estimated restructuring charges of $1.5 million to $2.0 million for severance and benefits.
- Notice delivered to Tropicana Manufacturing Company, Inc. to remove non-economically viable acreage from the Orange Purchase Agreement No. R641.
- Strategic shift from citrus production to long-term diversified land usage and real estate development.
- The decision is driven by 'increasing financial challenges' from citrus greening disease and environmental factors.
Alico, Inc. entered into an amended and restated employment agreement with its President and CEO, John Kiernan, extending his term through September 30, 2027. The agreement includes updated salary terms, bonus structures, and performance-based restricted stock units (PSUs) tied to specific share price targets.
🚩 Red Flags
- The inclusion of significant 'Change in Control' bonuses can sometimes create misalignment between management and shareholders if not structured carefully.
📋 Key Facts
- CEO John Kiernan's employment term extended through September 30, 2027.
- Annual base salary set at $525,000.
- A long-term return of capital bonus for the period Oct 1, 2021 – Sept 30, 2024, is scheduled to be paid in full on January 1, 2025.
- Performance-Based RSUs (PSUs) totaling up to 38,000 units are tied to stock price milestones: $35 (5,000 units), $40 (12,500 units), and $45 (20,500 units).
- Includes a transaction bonus triggered by a Change in Control occurring before Sept 30, 2027.
Alico, Inc. announced a cash dividend declaration for the first quarter of fiscal year 2025. The dividend is set at $0.05 per share.
📋 Key Facts
- Dividend amount: $0.05 per share on outstanding common stock.
- Record date: December 27, 2024.
- Payment date: Expected January 10, 2025.
- Fiscal period: Q1 of fiscal year 2025.
Alico, Inc. issued an 8-K to furnish its quarterly and annual financial results for the periods ended September 30, 2024.
📋 Key Facts
- The filing is a standard announcement of financial results (Item 2.02).
- Covers three and twelve months ended September 30, 2024.
- Results were released via press release on December 2, 2024.
Alico, Inc. announced the publication of its 2024 Sustainability Report covering environmental, social, and governance (ESG) topics. This is a routine disclosure under Item 7.01.
📋 Key Facts
- Company published its 2024 Sustainability Report on November 21, 2024.
- The report highlights progress across environmental, social, and governance (ESG) topics.
- The disclosure is made under Item 7.01 (Regulation FD Disclosure).
Alico, Inc. entered into a Sixth Amendment to its Credit Agreement, significantly increasing its revolving line of credit capacity and extending the maturity date. The company also replaced an existing $70 million working capital line of credit with Rabo Agrifinance.
🚩 Red Flags
- The company replaced an existing $70 million line of credit, indicating a restructuring of debt obligations.
- High default interest rate of 15% per annum.
📋 Key Facts
- Increased RLOC Loan borrowing capacity from $25 million to $95 million.
- Extended the revolving credit facility maturity date to May 1, 2034.
- The RLOC Loan is secured by approximately 36,800 gross acres of citrus land.
- Paid off current borrowings under a $70 million working capital line from Rabo Agrifinance, Inc.
- Repayment structure: Interest-only until maturity; accrued interest payable quarterly starting October 1, 2024.
- Interest rate is based on SOFR plus a credit spread determined by MetLife Investment Management, LLC.
- Default interest rate set at 15% per annum.
Alico, Inc. announced a fourth quarter fiscal year 2024 cash dividend of $0.05 per share. The dividend is payable to shareholders of record as of September 27, 2024.
📋 Key Facts
- Dividend amount: $0.05 per share
- Record date: September 27, 2024
- Payment date: Expected October 11, 2024
- Reporting period: Fourth quarter of fiscal year 2024
Alico, Inc. filed an 8-K to announce the release of its financial results for the three and nine months ended June 30, 2024.
📋 Key Facts
- The filing pertains to the reporting of quarterly and year-to-date financial results.
- Reporting period: Three and nine months ended June 30, 2024.
- The announcement was made via press release on August 5, 2024.
Alico, Inc. announced a cash dividend of $0.05 per share for the third quarter of fiscal year 2024. The dividend is payable to shareholders of record as of June 28, 2024.
📋 Key Facts
- Dividend amount: $0.05 per share.
- Record date: June 28, 2024.
- Payment date: Expected July 12, 2024.
- Fiscal period: Third quarter of fiscal year 2024.
Alico, Inc. entered into a new supply agreement with its largest customer, Tropicana Manufacturing Company, Inc., covering approximately 65% of the company's planted acres through July 2027 at significantly higher prices. Additionally, the company amended its credit agreement to allow for increased asset dispositions/sales.
🚩 Red Flags
- Increased reliance on asset dispositions (land sales) to meet credit agreement terms/liquidity needs.
📋 Key Facts
- New supply agreement with Tropicana effective June 5, 2024, through July 31, 2027.
- Agreement covers approximately 65% of Alico's currently planted acres.
- Contracted prices per pound solids are 33% to 50% higher than the average price from the previous season.
- Fifteenth Amendment to Credit Agreement with Rabo AgriFinance LLC entered into on June 5, 2024.
- Amendment permits asset dispositions of $15M (standard) plus up to $80M for non-citrus ranch land sales in FY2024.
- Potential additional $10.4M disposition allowance if the 'Hendry Land Sale' is consummated.
Alico, Inc. entered into two separate letter agreements with James Sampel and Bradley Heine regarding severance benefits and restrictive covenants in the event of termination or change in control.
🚩 Red Flags
- The filing involves amendments to employment agreements for key officers (CFO), which can sometimes precede leadership turnover or be a precursor to restructuring.
📋 Key Facts
- On May 28, 2024, the Company entered a 'Sampel Agreement' with James Sampel.
- James Sampel's severance includes one year of base salary and 12 months of continued health benefits upon termination without cause or for good reason following a change in control.
- On June 3, 2024, the Company entered into the 'Heine Amendment' with Bradley Heine (CFO).
- Bradley Heine's severance includes one year of base salary and 12 months of continued health benefits upon termination without cause or for good reason following a change in control.
- Severance payments are contingent upon release of claims and compliance with non-compete, non-solicitation, confidentiality, and non-disparagement covenants.
Alico, Inc. filed an 8-K to furnish its quarterly financial results for the three and six months ended March 31, 2024 via a press release.
📋 Key Facts
- The filing was made on May 6, 2024.
- The report covers financial results for the periods ending March 31, 2024 (three and six months).
- Financial results were released via a press release attached as Exhibit 99.1.
Alico, Inc. announced its participation in the Planet MicroCap Showcase on May 1, 2024. The company intends to provide updates regarding long-term debt and capital returned as of March 31, 2024.
🚩 Red Flags
- Management notes that preliminary financial results are estimates and may differ from final reported figures in the upcoming 10-Q due to year-end accounting procedures.
📋 Key Facts
- Company will present at the Planet MicroCap Showcase in Las Vegas on May 1, 2024.
- Presentation topic includes an update on long-term debt and capital returned as of March 31, 2024.
- The company provided a cautionary note that preliminary financial results for the quarter ended March 31, 2024 are estimates and subject to change.
Alico, Inc. announced a cash dividend of $0.05 per share for the second quarter of fiscal year 2024. The dividend is payable to shareholders of record as of March 28, 2024.
📋 Key Facts
- Dividend amount: $0.05 per share.
- Record date: March 28, 2024.
- Payment date: Expected on April 11, 2024.
- Fiscal period: Second quarter of fiscal year 2024.
Alico, Inc. held its 2024 Annual Meeting of Shareholders on February 23, 2024. The filing reports the results of shareholder voting regarding director elections, auditor ratification, and executive compensation.
📋 Key Facts
- Annual Meeting held on February 23, 2024.
- Eight director nominees were elected to serve until the 2025 Annual Meeting: George R. Brokaw, Katherine R. English, Benjamin D. Fishman, John E. Kiernan, W. Andrew Krusen, Jr., Toby K. Purse, Adam H. Putnam, and Henry R. Slack.
- Shareholders ratified the appointment of Grant Thornton LLP as the independent registered public accounting firm for the fiscal year ending September 30, 2024.
- Shareholders approved executive compensation on an advisory (non-binding) basis.
Alico, Inc. filed an 8-K to furnish its quarterly earnings press release for the three months ended December 31, 2023. This is a routine regulatory filing used to communicate financial results to the market.
📋 Key Facts
- The filing was made on February 7, 2024.
- The report pertains to the three-month period ending December 31, 2023.
- The company issued a press release (Exhibit 99.1) containing its financial results.
Alico, Inc. has released its 2023 Sustainability Report detailing the company's ESG (Environmental, Social, and Governance) progress and approach.
📋 Key Facts
- The Company published its 2023 Sustainability Report on January 16, 2024.
- The report covers environmental, social, and governance topics.
- Information is provided via Regulation FD disclosure under Item 7.01.