ITEM 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
Appointment of Chief Financial Officer
On September 23, 2021, Maui Land & Pineapple Company, Inc. (the "Company"),
appointed Wade K. Kodama as Chief Financial Officer, effective October 1, 2021.
Mr. Kodama will also serve as the Company's Principal Financial Officer and
Treasurer.
Mr. Kodama has more than 30 years of executive management experience in the real
estate and construction industries in Hawaii. Prior to joining the Company, Mr.
Kodama worked in several financial management roles since 2016, including Chief
Financial Officer of Hawaii Unified Industries, LLC, Vice President of Finance
of Grace Pacific LLC, Controller of Pulama Lanai, and Project Controller of
Granite Construction, Inc,. Mr. Kodama received his bachelor's degree in
Business Administration with a major in Accounting from the University of
Hawaii.
In connection with Mr. Kodama's appointment as Chief Financial Officer, the
Company and Mr. Kodama entered into an employment agreement (the "Employment
Agreement"). Pursuant to the terms of the Employment Agreement, Mr. Kodama will
receive an annual base salary of $190,000 and is eligible to receive annual and
long-term incentive compensation. Payment of incentive compensation is payable
in common stock of the Company and based on achieving predetermined thresholds
under performance measurements established by the Board's Compensation
Committee.
The foregoing description of the Employment Agreement is a summary only and is
qualified in its entirety by reference to the full text of the Employment
Agreement.
There are no family relationships between Mr. Kodama and any director or
executive officer of the Company or its subsidiaries.
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Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
MAUI LAND & PINEAPPLE COMPANY, INC.
Date: September 24, 2021 By: /s/ WARREN H. HARUKI
Warren H. Haruki
Chairman and Chief Executive Officer
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MAUI LAND & PINEAPPLE COMPANY, INC. 
