PriceSmart names Gualberto Hernandez CFO effective June 1; McCleary resigns
PriceSmart appointed Gualberto Hernandez as Executive Vice President and Chief Financial Officer effective June 1, 2025, replacing Michael McCleary, who resigned by mutual agreement. The filing sets out Hernandez's pay package and McCleary's separation terms, which include severance of $721,000 and a transition period through September 30, 2025.
Key points
- Gualberto Hernandez becomes EVP and CFO effective June 1, 2025, with a base salary of $720,000 and a target annual bonus of $180,000.
- Hernandez's initial stock award has an initial value of $4,500,000, and he receives a $150,000 cash sign-on bonus.
- Michael McCleary resigned by mutual agreement and remains an EVP through September 30, 2025, then provides up to 40 hours per month of consulting for three months.
- McCleary will receive severance of $721,000, payable over one year, plus 12,074 restricted stock and performance stock unit shares that continue to vest.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:05 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 09, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.