UNIFI, INC. (NYSE:UFI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 28, 2019, John D. Vegas, Executive Vice President & Global Chief Human Resources Officer of Unifi, Inc. (the “Company”), resigned from his position, effective March 1, 2019.Subject to his execution of a general release of claims in favor of the Company and continuing compliance with certain restrictive covenants, Mr. Vegas will be entitled to receive severance payments and health and welfare benefits consistent with the terms of his employment agreement.A copy of Mr. Vegas’ employment agreement was attached as Exhibit 10.23 to the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on September 1, 2017.
About UNIFI, INC. (NYSE:UFI)
Unifi, Inc. is a manufacturing company. The Company processes and sells commodity yarns, specialized yarns and premier value-added (PVA) yarns. The Company operates through three segments: Polyester segment, Nylon segment and International segment. The Company’s polyester products include polyester polymer beads (Chip), partially oriented yarn (POY), textured, solution and package dyed, twisted, beamed and draw wound yarns. Each polyester product is available in virgin or recycled varieties, where the recycled is made from both pre-consumer yarn waste and post-consumer waste, including plastic bottles. The Company’s nylon products include textured, solution dyed and spandex covered products. The Company’s products include REPREVE, Sorbtek, Reflexx, aio, Augusta and A.M.Y. The Company’s principal geographic markets for its products are located in North America, Central America, South America and Asia.