Farmer Bros. Co. (NASDAQ:FARM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
Bros. Co., a Delaware corporation (the Company), approved a form
of First Amendment to Employment Agreement and form of First
Amendment to Change in Control Severance Agreement (collectively,
the Amendments), to be entered into between the Company and each
of the following executive officers:
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Name
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Title
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Michael H. Keown
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President and Chief Executive Officer
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David G. Robson
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Treasurer and Chief Financial Officer
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Ellen D. Iobst
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Chief Operations Officer
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Scott W. Bixby
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Senior Vice President and General ManagerDSD
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Scott A. Siers
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Senior Vice President and General ManagerDirect Ship
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Thomas J. Mattei, Jr.
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General Counsel and Assistant Secretary
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previously filed employment agreements and change in control
severance agreements which clarifies that nothing contained in
the applicable agreement is intended to or shall be construed as
prohibiting the executive from voluntarily communicating with the
U.S. Securities and Exchange Commission (the Commission) about
possible violations of law or from accepting a Commission
whistleblower award. On May 3, 2017, the Board also amended the
Companys standard form of change in control severance agreement
for executive officers (the Amended CIC Agreement) to include
this provision going forward.
Agreement is qualified in its entirety by the full text of the
Amendments and the Amended CIC Agreement, the forms of which will
be filed as exhibits to the Companys Quarterly Report on Form
10-Q for the three months ended March 31, 2017. A brief
description of the terms and conditions of the Companys standard
form of employment agreement for executive officers and standard
form of change in control severance agreement for executive
officers was previously filed by the Company in its definitive
Proxy Statement to Section 14(a) of the Securities Exchange Act
of 1934, as amended, filed with the Commission on October 27,
2016 and incorporated herein by reference. As previously
disclosed, the Company has updated the standard form of change in
control severance agreement to reflect Texas choice of law
provisions.
quarterly dividend in the upcoming first quarter of fiscal 2018.
About Farmer Bros. Co. (NASDAQ:FARM)
Farmer Bros. Co. is a national coffee roaster, wholesaler and distributor of coffee, tea and culinary products. The Company offers private brand and consumer-branded coffee products to small independent restaurants and foodservice operators, and institutional buyers. Its product line includes organic, Direct Trade, Direct Trade Verified Sustainable (DTVS) coffees and other coffees, iced and hot teas, cappuccino, spices, and baking/biscuit mixes. Its primary brands include Farmer Brothers, Artisan Collection by Farmer Brothers, Superior and Metropolitan. Its Artisan coffee products include Direct Trade, Fair Trade Certified, Rainforest Alliance Certified organic blends. It sells whole bean and roast and ground flavored and unflavored coffee products under the Un Momento, Collaborative Coffee, Cain’s and McGarvey brands at retail. Its roast and ground coffee products are sold in traditional packaging, including bags and fractional packages, as well as single-serve packaging. Farmer Bros. Co. (NASDAQ:FARM) Recent Trading Information
Farmer Bros. Co. (NASDAQ:FARM) closed its last trading session up +0.30 at 33.90 with 97,137 shares trading hands.