NORTHLAKE, Texas, July 15, 2022 (GLOBE NEWSWIRE) -- Farmer Bros. Co. (NASDAQ: FARM) (“Farmer Brothers” or the “Company”) today announced that the Company issued the following restricted stock unit awards consisting of a total of 71,834 shares of the Company’s common stock under the Farmer Bros. Co. 2020 Inducement Incentive Plan (the “Inducement Plan”):
- An award of 32,851 restricted stock units on November 2, 2021, to Amber Jefferson, its new Chief Human Resources Officer. This award will vest in full on November 1, 2024, subject to Ms. Jefferson’s continued employment with the Company through the vesting date.
- An award of 31,034 restricted stock units on April 14, 2022, to Jared Vitemb, its new General Counsel, Chief Compliance Officer, and Corporate Secretary. This award will vest in full on April 1, 2025, subject to Mr. Vitemb’s continued employment with the Company through the vesting date.
- An award of 7,949 restricted stock units on May 3, 2022, to Matt Coffman, its new Vice President and Controller. This award will vest in full on May 2, 2025, subject to Mr. Coffman’s continued employment with the Company through the 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. The Company is issuing this press release to comply with Nasdaq Listing Rule 5635(c)(4).
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
Jen Milan & Kyle King
Investor.relations@farmerbros.com
(646) 776-0886
