Farmer Bros. Co. Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
January 04 2023 - 3:05PM
Farmer Bros. Co. (NASDAQ:FARM) ( “Farmer Brothers” or the
“Company”) today announced that the Company issued the following
restricted stock unit award consisting of a total of 10,845 shares
of the Company’s common stock under the Farmer Bros.
Co. 2020 Inducement Incentive Plan (the “Inducement Plan”)
through an award of 10,845 restricted stock units on January 3,
2023 to Gregory Newham, its new Vice President, Planning and
Procurement. This award will ratably vest over three years on each
anniversary of the award date, subject to Mr. Newham’s continued
employment with the Company through each vesting date.
The Inducement Plan is used exclusively for the grant of equity
awards to individuals who were not previously employees
of Farmer Brothers, as an inducement material to such
individuals entering into employment with the Company, pursuant to
Rule 5635(c)(4) of the Nasdaq Listing Rules.
About Farmer Brothers
Founded in 1912, Farmer Bros. Co. is a national coffee
roaster, wholesaler, and distributor of coffee, tea, and culinary
products. The Company’s product lines include organic, Direct
Trade, and sustainably produced coffee. With a robust line of
coffee, hot and iced teas, cappuccino mixes, spices, and
baking/biscuit mixes, the Company delivers extensive beverage
planning services and culinary products to its U.S. based
customers. The Company serves a wide variety of customers, from
small independent restaurants and foodservice operators to large
institutional buyers like restaurant, department and convenience
store chains, hotels, casinos, healthcare facilities, and gourmet
coffee houses, as well as grocery chains with private brand coffee
and consumer branded coffee and tea products, and foodservice
distributors.
Marketing Contact
Nathalie Oetzel noetzel@farmerbros.com
Investor Relations Contact
Ellipsis Jeff MajtykaInvestor.relations@farmerbros.com (646)
776-0886
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