Alico, Inc. (NASDAQ:ALCO) Files An 8-K Results of Operations and Financial Condition

On August7, 2017, Alico, Inc. issued a press release announcing its financial results for the three and nine months ended June30, 2017. A copy of the press release is furnished within this report as Exhibit 99.1.

The information contained in Item 2.02 of this report and related financial information in the press release attached to this report is being furnished to the Securities and Exchange Commission and shall not be deemed “filed” for purposes of Section18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, or incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

The Board of Directors of Alico, Inc. (the “Company”) appointed Richard Rallo as the Company’s Chief Accounting Officer, effective as of June 30, 2017. Mr. Rallo will be responsible for all corporate treasury and accounting functions for Alico, Inc. and its subsidiaries.

Mr. Rallo, age 53, was employed by American Medical Alert Corp. ("AMAC"), a company involved in the manufacturing and distribution of personal emergency response systems and provider of telephone answering services, over the past 16 years in different capacities including Chief Financial Officer and most recently served as AMAC’s Chief Operating Officer and Chief Service Officer. AMAC was a publicly traded company until it was acquired by Turnstall in December 2011 at which time AMAC began doing business as Turnstall Americas. Prior to his involvement with AMAC, he held similar financial positions with Tradewell, Inc., a barter company, and Connoisseur Communications Partners L.P., a company that owned and operated radio stations. Mr. Rallo started his career in public accounting for Touche Ross & Co. and Margolin, Winer & Evens LLP.He is a Certified Public Accountant and has a BS in accounting from the University of Denver.

There are no arrangements or understandings between Mr. Rallo and any other persons to which he was selected as Chief Accounting Officer. There are no family relationships between Mr. Rallo and any director or executive officer of the Company and he has no direct or indirect material interest in any transaction required to be disclosed to Item 404(a) of Regulation S-K promulgated under the Securities Act of 1933, as amended.

On June 19, 2017, the Company entered into an employment offer letter (the “Offer Letter”) with Mr. Rallo establishing his compensation. Mr. Rallo’s annual base salary will be $225,000 and he will be eligible for discretionary performance bonuses of up to 25% of his annual salary. Mr. Rallo’s employment with the Company is at-will.

The foregoing is only a brief description of the Offer Letter and is qualified in its entirety by reference to the Offer Letter, a copy of which is filed as Exhibit 10.1 to this Form 8-K. A copy of the press release dated August7, 2017 publicly announcing Mr. Rallo’s appointment is filed with this Form 8-K as Exhibit 99.1.

ALICO INC ExhibitEX-10.1 3 ralloletterjune162017.htm EXHIBIT 10.1 Exhibit Exhibit 10.1June 16,…To view the full exhibit click here
About Alico, Inc. (NASDAQ:ALCO)
Alico, Inc. is an agribusiness and natural resources management company. The Company’s segments include Orange Co., Conservation and Environmental Resources and, Other Operations. Its principal lines of business are citrus groves, cattle ranching and conservation. The Orange Co. segment includes activities related to planting, owning, cultivating and/or managing citrus groves in order to produce fruit for sale to fresh and processed citrus markets, including activities related to the purchase and resale of fruit and value-added services, which include contracting for the harvesting, marketing and hauling of citrus. The conservation and environmental resources segment includes activities related to cattle grazing, sod, native plant and animal sales, leasing, management and/or conservation of unimproved native pasture land. The other operations segment consists of activities related to rock mining royalties, oil exploration and other insignificant lines of business.