8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 14, 2012

Alico Inc.

(Exact name of registrant as specified in its charter)

Florida	0-261	59-0906081
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

10070 Daniels Interstate Court Suite 100

Fort Myers, FL 33913

(Address of principal executive offices and zip code)

Registrant’s telephone number, including area code: (239) 226-2000

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

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

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

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

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

Section 5	Corporate Governance and Management
Item 5.02	Departure of Directors or Certain Officers: Election of Directors; Appointment of certain Officers; Compensatory Arrangements of Certain Officers

On March 13, 2012, JD Alexander accepted an offer from the Alico Board of Directors to serve as the company’s full-time Chief Executive Officer and President, effective April 2, 2012.

As a result of his acceptance of this position, the Board of Directors has approved a new compensation package for Mr. Alexander. Under the terms of the compensation package, which is effective April 2, 2012, Mr. Alexander will receive an annual salary of $380,000 and he is eligible for a discretionary cash bonus to be determined by the Board of Directors on an annual basis. Mr. Alexander is also entitled to a reasonable housing allowance for six months and is eligible to participate in all employee benefit programs. Additionally, Mr. Alexander is eligible for the same Long Term Incentive Program as the other Named Executive Officers.

If his employment is terminated for any reason, he is entitled to payment of his base salary through the date of termination and a cash severance agreement in the amount of $190,000.

Section 9	Financial Statements and Exhibits
Item 9.01	Financial Statements and Exhibits

(d)	Exhibits.
99.1	Alico, Inc. Press Release dated March 14, 2012.

SIGNATURES

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.

Date: March 14, 2012

ALICO, INC.
By:	/s/ W. Mark Humphrey
	W. Mark Humphrey
	Senior Vice President and Chief Financial Officer

EX-99.1

Exhibit 99.1

Investor Contact:

JD Alexander

Chief Executive Officer and President

239-226-2000

            

Alico, Inc. Announces Appointment of JD Alexander as Full-Time Chief Executive Officer and President

Fort Myers, FL, March 14, 2012 – The Board of Directors of Alico, Inc. (NASDAQ: ALCO) (“Alico”), a land management company, today announced the appointment of JD Alexander as its full-time Chief Executive Officer and President, effective April 2, 2012.

Mr. Alexander has served as Alico’s Chief Executive Officer and President on a less than full-time basis since February 2010. He previously served as a director of Alico, Inc. in 2004 and 2005 and has served on the Alico Board from January 2008 to the present. He also serves as the Board’s Vice-Chairman and will continue to serve in that capacity.

Mr. Alexander also served as the President and Chief Executive Officer of Alico’s controlling shareholder, Atlantic Blue Group, Inc., a position from which he will resign effective March 31, 2012. Mr. Alexander will continue as the Chairman of the Board of Atlantic Blue Group, Inc. Mr. Alexander has served as a Florida State Senator from 2002 to the present and previously served as a Florida State Representative from 1998 to 2002. His term as a Florida State Senator ends November 6, 2012 and he is not eligible for re-election due to term limits.

“The Board believes that JD Alexander and his team have been very effective in reducing operating costs and improving the efficiency of the company’s operations since his appointment in February 2010,” said Ramon Rodriguez, Chairman of Alico’s Audit Committee. Further, Mr. Rodriguez said, “We recognize there is work to be done to broaden the shareholder base and increase capital market awareness. The Board believes that JD is uniquely qualified to lead the company in these efforts.”

Mr. Alexander stated, “I am excited about the opportunity to focus my efforts exclusively on Alico. We have made tremendous progress since my appointment in February 2010, and while our work is not complete, I am confident we will continue to build our operating results and focus significant effort on broadening the capital market awareness of the company. I thank the Board for their continued trust and confidence in me and look forward to working with them for the future of Alico.”

About Alico, Inc.

Alico, headquartered in Fort Myers, FL, is a land management company operating in Central and Southwest Florida. Alico owns approximately 139,600 acres of land located in Collier, Glades, Hendry, Lee and Polk counties, Florida. Alico is involved in citrus, sugarcane, cattle and other agricultural operations and real estate activities. Alico’s mission is to grow its asset values through its agricultural and real estate activities to produce superior long-term returns for its shareholders. For more about Alico, Inc., visit www.alicoinc.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on Alico’s current expectations about future events and can be identified by terms such as “expect,” “may,” “anticipate,” “intend,” “should be,” “will be,” “is likely to,” “strive to,” and similar expressions referring to future periods.

Alico believes the expectations reflected in the forward-looking statements are reasonable but cannot guarantee future results, level of activity, performance or achievements. Actual results may differ materially from those expressed or implied in the forward-looking statements. Therefore, Alico cautions you against relying on any of these forward-looking statements. Factors which may cause future outcomes to differ materially from those foreseen in forward-looking statements include, but are not limited to: changes in laws, regulation and rules; weather conditions that affect production, transportation, storage, import and export of fresh product; increased pressure from disease, insects and other pests; disruption of water supplies or changes in water allocations; pricing and supply of raw materials and products; market responses to industry volume pressures; pricing and supply of energy; changes in interest exchange rates; availability of financing for land development activities; political changes and economic crises; international conflict; acts of terrorism; labor disruptions; inability to pay debt obligations; inability to engage in certain transactions due to restrictive covenants in debt instruments; government restrictions on land use; market and pricing risks due to concentrated ownership of stock. Other risks and uncertainties include those that are described in Alico’s SEC filings, which are available on the SEC’s website at http://www.sec.gov. Alico under takes no obligation to subsequently update or revise the forward-looking statements made in this press release, except as required by law.