Filing Analysis
Superior Group of Companies, Inc. entered into an Amended and Restated Credit Agreement with PNC Bank as administrative agent, providing up to $200 million in senior secured credit facilities ($125M revolving, $75M term loan) plus potential incremental capacity. The new agreement was used to refinance existing debt and features variable interest rates tied to SOFR.
🚩 Red Flags
- Variable interest rate exposure (SOFR-based) in a potentially volatile rate environment.
- Strict financial covenants (Fixed charge coverage and Net leverage) could trigger default if operational performance dips.
📋 Key Facts
- Entered into A&R Credit Agreement on August 7, 2026.
- Total credit facilities: $125 million revolving credit facility and $75 million term loan.
- Potential for an additional $75 million in incremental revolving or term loan capacity subject to lender commitment.
- Interest rate: SOFR plus a margin of 1.125% to 2.125% based on consolidated total net leverage ratio.
- Term length: Five years.
- Collateral: Substantially all operating assets of the Company and guarantees from domestic subsidiaries.
- Financial Covenants: Fixed charge coverage ratio ≥ 1.25x; Net leverage ratio ≤ 4.0x.
Superior Group of Companies, Inc. filed an 8-K to announce its results of operations for the fiscal quarter ended June 30, 2026. The filing serves as a formal notice that a press release containing these financial results was issued on August 4, 2026.
📋 Key Facts
- Reporting period: Quarter ended June 30, 2026.
- Filing date: August 4, 2026.
- The company is reporting under Item 2.02 (Results of Operations and Financial Condition).
- Financial results are contained in Exhibit 99.1.
Superior Group of Companies, Inc. entered into a new employment agreement with CEO Michael Benstock on May 26, 2026, extending his term through May 31, 2029. The agreement establishes a high base salary and significant guaranteed bonuses and severance protections.
🚩 Red Flags
- High fixed compensation relative to micro-cap scale: Base salary exceeds $1M with additional $500k guaranteed bonuses.
- Generous 'Good Reason' and severance terms (2.0x multiplier) may create significant liability for the company.
📋 Key Facts
- CEO Michael Benstock's contract expires May 31, 2029.
- Initial annual base salary is set at $1,044,399.
- Guaranteed annual bonus of at least $500,000 for fiscal years 2026, 2027, and 2028.
- Retention bonus of $2,100,000 payable within 240 days of voluntary retirement or resignation for 'Good Reason'.
- Severance payout is 2.0x highest annual compensation plus prorated minimum guaranteed bonus if terminated without Cause or resigning for Good Reason.
- Agreement voids a previous Severance Protection Agreement from November 23, 2005.
Superior Group of Companies, Inc. disclosed the results of its Annual Meeting of Shareholders held on May 7, 2026, where shareholders elected seven directors and ratified the company's independent auditor.
🚩 Red Flags
- High level of shareholder opposition for director Andrew D. Demott, Jr., with approximately 27.2% of votes cast against his election
📋 Key Facts
- Annual Meeting of Shareholders held on May 7, 2026
- 13,718,077 shares present out of 15,704,912 outstanding (87.3% quorum)
- Seven directors elected: Michael Benstock, Paul Mellini, Todd Siegel, Michael Koempel, Andrew D. Demott, Jr., Susan Lattmann, and Loreen Spencer
- Grant Thornton LLP ratified as independent auditor for 2026 with 13,676,626 'For' votes
- Andrew D. Demott, Jr. received 3,101,869 'Against' votes, significantly higher than other nominees
Superior Group of Companies, Inc. reported its financial results for the first quarter ended March 31, 2026. The filing includes a press release and an investor presentation as exhibits.
📋 Key Facts
- Reported financial results for the fiscal quarter ended March 31, 2026.
- The filing was made under Item 2.02 (Results of Operations and Financial Condition).
- Included Exhibit 99.1 (Press Release) and Exhibit 99.2 (Investor Presentation).
- The report was signed by Michael Koempel, President and Chief Financial Officer.
Superior Group of Companies, Inc. reported its financial results for the fourth quarter ended December 31, 2025, and released an updated investor presentation.
📋 Key Facts
- The company announced results of operations for the quarter ended December 31, 2025
- An investor presentation was posted to the company's website on March 3, 2026
- The filing includes Exhibit 99.1 (Press Release) and Exhibit 99.2 (Investor Presentation)
- The report was signed by Michael Koempel, President & Chief Financial Officer
Superior Group of Companies, Inc. filed an 8-K to announce its results of operations for the quarter ended September 30, 2025. The filing serves as a formal announcement of the upcoming earnings release.
📋 Key Facts
- The company is announcing financial results for the quarter ending September 30, 2025.
- The announcement was made via press release dated November 3, 2025.
- The filing includes Exhibit 99.1 containing the press release.
Superior Group of Companies, Inc. has entered into a Rule 10b5-1 trading plan to execute an authorized share repurchase program. The plan is intended to facilitate the repurchasing of common stock starting September 20, 2025.
📋 Key Facts
- Entered into a 10b5-1 trading plan on September 19, 2025.
- Plan purpose: Repurchase up to a specified number of shares (Repurchase Limit) under the program authorized on March 11, 2025.
- Execution window: Commencing September 20, 2025, until the limit is reached or other plan-specified events occur.
- Administration: Repurchases will be managed by an independent broker subject to market constraints.
Superior Group of Companies, Inc. announced a leadership restructuring where Michael W. Koempel has been appointed President while retaining his role as CFO. Concurrently, CEO Michael Benstock has relinquished his position as President.
🚩 Red Flags
- None identified in this filing.
📋 Key Facts
- Effective September 12, 2025, Michael W. Koempel was appointed President of the Company.
- Michael W. Koempel will continue to serve as Chief Financial Officer (CFO), principal financial officer, and principal accounting officer.
- CEO Michael Benstock has relinquished his position as President of the Company.
- Mr. Koempel brings experience from leadership roles at IT'SUGAR, Victoria’s Secret Lingerie, and Mast Global (L Brands Inc.).
Superior Group of Companies, Inc. filed an 8-K to announce its results of operations for the quarterly period ended June 30, 2025.
📋 Key Facts
- The filing is a routine announcement of quarterly earnings (Results of Operations).
- Reporting period: Quarter ended June 30, 2025.
- Filing date: August 5, 2025.
- The company's ticker symbol is SGC and it trades on NASDAQ.
Superior Group of Companies, Inc. announced the establishment of a Rule 10b5-1 trading plan to facilitate share repurchases. This plan is part of a broader share repurchase program previously authorized by the Board on March 11, 2025.
📋 Key Facts
- The Company entered into a 10b5-1 trading plan on June 19, 2025.
- The purpose of the plan is to repurchase common stock up to a specified Repurchase Limit.
- Repurchases are scheduled to commence on June 20, 2025.
- The program was originally authorized by the Board of Directors on March 11, 2025.
- Repurchases will be administered through an independent broker subject to market constraints.
Superior Group of Companies, Inc. filed an 8-K to announce its quarterly results for the period ended March 31, 2025 and provided an updated investor presentation.
📋 Key Facts
- Report date: May 8, 2025
- Reporting Period: Quarter ended March 31, 2025
- The filing includes a press release regarding results of operations (Exhibit 99.1)
- The filing includes an investor presentation (Exhibit 99.2)
Superior Group of Companies, Inc. held its Annual Meeting of Shareholders on May 8, 2025. The meeting resulted in the election of seven directors and the ratification of Grant Thornton LLP as the independent auditor for the upcoming fiscal year.
📋 Key Facts
- Annual Meeting of Shareholders held on May 8, 2025.
- Seven directors were elected to hold office until the next annual meeting or successors are qualified.
- Grant Thornton LLP was ratified as the independent registered public accounting firm for the year ending December 31, 2025.
- Shareholders approved executive compensation on an advisory basis.
- Shareholders voted to set the frequency of future advisory votes on executive compensation at every three years.
- Total shares entitled to vote: 16,477,805; Shares present (in person or by proxy): 14,719,216.
Superior Group of Companies, Inc. announced the establishment of a Rule 10b5-1 trading plan to execute an authorized share repurchase program. The plan is designed to facilitate the repurchasing of common stock starting March 21, 2025.
📋 Key Facts
- Entered into a 10b5-1 trading plan on March 20, 2025.
- The plan follows a share repurchase program previously authorized by the Board and announced on March 11, 2025.
- Repurchases are scheduled to commence on March 21, 2025.
- Repurchases will be administered through an independent broker subject to price, market, volume, and timing constraints.
Superior Group of Companies, Inc. filed an 8-K to announce its quarterly results for the period ended December 31, 2024, and released a new investor presentation.
📋 Key Facts
- Announced financial results for the quarter ended December 31, 2024 (Item 2.02).
- Released an updated investor presentation on March 11, 2025 (Item 7.01).
- Filed a Second Amendment to its Credit Agreement (Exhibit 10.1).
Superior Group of Companies, Inc. has entered into a 10b5-1 trading plan to execute its previously authorized share repurchase program. The plan allows for the repurchasing of up to $2.58 million in common stock through March 13, 2025.
📋 Key Facts
- Entered into a 10b5-1 trading plan on December 20, 2024.
- Repurchase limit is set at $2,580,000.00 in outstanding common stock.
- The plan was authorized by the Board of Directors on August 9, 2024.
- Plan duration: Commencing December 20, 2024, until March 13, 2025, or until the limit is reached.
Superior Group of Companies, Inc. filed an 8-K to announce its quarterly results for the period ended September 30, 2024 and provided an updated investor presentation.
📋 Key Facts
- The filing reports results of operations and financial condition for the quarter ended September 30, 2024 (Item 2.02).
- An investor presentation was released via Regulation FD disclosure (Item 7.01).
- The report was signed by CFO Michael Koempel on November 6, 2024.
Superior Group of Companies, Inc. has entered into a 10b5-1 trading plan to execute a share repurchase program. The plan aims to repurchase up to $4,308,737.04 in common stock through November 8, 2024.
📋 Key Facts
- Entered into a 10b5-1 trading plan on September 19, 2024.
- Repurchase limit set at $4,308,737.04.
- Plan commences September 20, 2024, and ends November 8, 2024 (or when the limit is reached).
- The repurchase program was previously authorized by the Board of Directors on August 9, 2024.
- Repurchases will be administered through an independent broker subject to market constraints.
Superior Group of Companies, Inc. has authorized a new stock repurchase plan to buy back up to $10 million of its common stock over the next 12 months. This replaces a previous plan from May 2019 which had only repurchased 92,549 shares.
🚩 Red Flags
- The company's forward-looking statements disclaimer mentions a 'previously disclosed material weakness in internal control over financial reporting' and the ongoing need to remediate it.
📋 Key Facts
- Board approved new stock repurchase plan on August 9, 2024.
- Authorization amount: up to $10 million of common stock.
- Duration: 12 months from the approval date.
- Replaces the May 2, 2019 plan (which authorized 750,000 shares).
- Previous plan status: 92,549 shares repurchased as of August 9, 2024.
Superior Group of Companies, Inc. filed an 8-K to announce its quarterly results for the period ended June 30, 2024 and released a new investor presentation.
📋 Key Facts
- The filing announces results of operations for the quarter ended June 30, 2024 (Item 2.02).
- An investor presentation was posted to the company website on August 6, 2024 (Item 7.01).
- The report was signed by CFO Michael Koempel.
Superior Group of Companies, Inc. held its Annual Meeting of Shareholders on May 9, 2024. The meeting resulted in the election of seven directors and the ratification of Grant Thornton LLP as the company's independent auditor for the fiscal year ending December 31, 2024.
📋 Key Facts
- Annual Meeting held on May 9, 2024.
- Seven directors were elected to hold office until the next annual meeting or their respective successors are qualified.
- Grant Thornton LLP was ratified as the independent registered public accounting firm for the year ending December 31, 2024.
- Total shares outstanding and entitled to vote: 16,709,591.
- Shares present in person or by proxy: 14,355,198.
Superior Group of Companies, Inc. filed an 8-K to announce its quarterly results of operations for the period ending March 31, 2024.
📋 Key Facts
- The filing is a standard announcement of quarterly earnings (Item 2.02).
- Reporting period: Quarter ended March 31, 2024.
- Filing date: May 7, 2024.
- The company's ticker is SGC and it trades on NASDAQ.
Superior Group of Companies, Inc. filed an 8-K to announce its quarterly results for the period ended December 31, 2023, and to provide an updated investor presentation.
📋 Key Facts
- The filing announces results of operations for the quarter ended December 31, 2023 (Item 2.02).
- An investor presentation was posted on the company's website on March 13, 2024 (Item 7.01).
- The report was signed by CFO Michael Koempel on March 13, 2024.
Superior Group of Companies, Inc. announced the resignation of Philip Koosed from his position as Chief Strategy Officer, effective April 19, 2024. As part of his departure, the Board approved the accelerated vesting of 28,820 shares of restricted stock.
🚩 Red Flags
- Departure of a long-tenured officer (nearly 8 years) can sometimes signal internal shifts, though not explicitly stated here.
📋 Key Facts
- Philip Koosed is resigning as Chief Strategy Officer.
- The resignation becomes effective on April 19, 2024.
- The Compensation Committee approved accelerating the vesting of 28,820 shares of restricted stock previously granted on July 1, 2021.
- Mr. Koosed has served the company for nearly 8 years.
Superior Group of Companies, Inc. entered into a new employment agreement with its CFO, Michael Koempel, effective February 13, 2024. The agreement supersedes his previous offer letter and includes updated compensation, equity grants, and severance terms.
🚩 Red Flags
- Significant severance obligations (up to 2x annual compensation) in the event of a Change in Control or termination without cause.
- Guaranteed equity awards for 2024/2025 regardless of performance metrics, though subject to continued employment.
📋 Key Facts
- New employment agreement for CFO Michael Koempel signed on February 13, 2024.
- Agreement term expires December 31, 2028, unless terminated earlier.
- Annual base salary is approximately $426,400.
- Target annual incentive bonus of 61% of base salary based on net earnings performance.
- Guaranteed minimum bonus of $100,000 for fiscal year 2024 if employed throughout the year.
- Guaranteed equity awards with fair market value of at least $304,500 for 2024 and $389,000 for 2025.
- Grant of 17,233 shares of restricted stock vesting on February 12, 2027.
- Severance provisions include 2x annual compensation if terminated without cause before Dec 31, 2026, or 1.1x if between Jan 1, 2027 and Dec 31, 2028.
Superior Group of Companies, Inc. announced the appointment of two new directors, Loreen Spencer and Susan Lattmann, to its Board effective February 12, 2024. Additionally, a long-standing director, Ms. Hensley, has announced her retirement after more than 23 years of service.
📋 Key Facts
- Loreen Spencer appointed to the Board and Audit Committee; former Deloitte & Touche Audit Partner.
- Susan Lattmann appointed to the Board and Corporate Governance, Nominating and Ethics Committee; former CFO of Bed Bath & Beyond Inc.
- Ms. Hensley is retiring from the Board after 23+ years and will not seek reelection at the 2024 Annual Meeting.
- New directors are eligible for participation in the Company’s 2022 Equity Incentive and Awards Plan.