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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

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FORM 8-K

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CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

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Date of Report (Date of earliest event reported): February 17, 2021

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GRANITE FALLS ENERGY, LLC

(Exact name of small business issuer as specified in its charter)

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Minnesota

000-51277

41-1997390

(State or other jurisdiction of incorporation or organization)

(Commission File Number)

(I.R.S. Employer Identification No.)

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15045 Highway 23 SE, Granite Falls, MN

56241-0216

(Address of principal executive offices)

(Zip Code)

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(320) 564-3100

(Issuer's telephone number)

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Securities registered pursuant to Section 12(b) of the Act: 

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Title of each class: 

     

Trading Symbol 

     

Name of each exchange on which registered: 

None

 

NA

 

 NA

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

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Item 5.02. DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS

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On or about February 17, 2021, Granite Falls Energy, LLC (the “Company”) executed a separation agreement (the “Agreement”) with its CEO and General Manager Steve Christensen, providing that Christensen’s services to the Company are expected terminate on or before December 31, 2021. Christensen has been employed by the Company since 2012 and intends to retire at or before the end 2021. Pursuant to the Agreement, Christensen’s services to the Company will terminate at the earlier of December 31, 2021, or the hiring of a new General Manager and the completion of a transition period. Christensen will be paid in full pursuant to the terms of his employment agreement through December 31, 2021, even if his services terminate earlier due to the hiring of his replacement. In any event, Christensen’s services to the Company are expected to terminate no later than December 31, 2021. This description of the Agreement is qualified in its entirety by reference to the actual Agreement, a copy of which is attached hereto as an exhibit and incorporated herein by reference.

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ITEM 9.01 - Financial Statements and Exhibits

 

(a)None.

(b)None.

(c)None.

(d)Exhibits.

 

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Exhibit No.

Description

10.1

Separation Agreement dated February 17, 2021

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SIGNATURES

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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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GRANITE FALLS ENERGY, LLC

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Date: February 19, 2021

/s/ Stacie Schuler

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Stacie Schuler, Chief Financial Officer

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Granite Falls Energy (CE) (USOTC:GFGY)
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