MARRONE BIO INNOVATIONS, INC. (NASDAQ:MBII) 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.

Executive Officer Base Salary Increases

On May 3, 2018, the Board of Directors of Marrone Bio Innovations, Inc. (the “Company”) approved of increases in the annual base salaries of each of the Company’s named executive officers, with an increase for Dr. Pamela G. Marrone, Chief Executive Officer, from $300,000 to $350,000, an increase for James B. Boyd, Chief Financial Officer and President, from $285,000 to $300,000, and an increase for Linda V. Moore, Executive Vice President, General Counsel and Secretary, from $260,000 to $270,000. The base salary increases were effective immediately.

Hiring of Chief Commercial Officer

On May 7, 2018, the Company announced the appointment of Kevin Hammill as the Company’s Chief Commercial Officer, effective May 7, 2018.

Mr. Hammill previously served as chief operating officer of Pivot Bio, a crop nutrition company, from January 2016 to April 2018. Prior to Pivot Bio, from 2004 to January 2016, Mr. Hammill served in various roles at Valent USA (a division of Sumitomo Chemical), including as vice president of Agriculture Business Operations and Strategy and as the senior director for U.S. Marketing. In addition to these positions, Mr. Hammill served as a member on the board of directors of Valent USA from January 2015 to January 2016. From 1992 to 2004, Mr. Hammill held multiple positions at BASF, a major chemical company, and American Cynamid (acquired by BASF in 2000). Mr. Hammill earned his Bachelor of Science degree in Agriculture and a Master’s degree in Agriculture Business from the University of Guelph in Ontario, Canada. He is 51.

Under the terms of the Company’s offer letter with Mr. Hammill, he is entitled to receive a base salary of $320,000 per year. Mr. Hammill will also be eligible to participate in the Company’s bonus plan, with any award for 2018 prorated based on the portion of the year worked for the Company. His target bonus may be up to 40% of his base salary. Mr. Hammill will also receive an option to purchase 400,000 shares of the Company’s common stock under the Company’s 2013 Stock Incentive Plan, which will vest over four (4) years, with 25% of the total shares vesting on the first anniversary of the date on which the option is granted and the remainder vesting in equal monthly installments over the following three (3) years. Mr. Hammill is also eligible for a monthly auto allowance of $900-$950 per month, which is designed to cover all costs of owning and operating a vehicle.

In the event that the Company actually or constructively terminates Mr. Hammill’s employment without cause, it will provide Mr. Hammill, at the time of his termination, a lump sum payment of six (6) months’ salary, and upon his election of COBRA, will pay for the first six (6) months of COBRA premium for medical, dental and vision coverage.

No “family relationship,” as that term is defined in Item 401(d) of Regulation S-K, exists among Mr. Hammill, on the one hand, and any of the Company’s directors or executive officers, on the other hand.

A copy of the Company’s press release announcing the appointment of Mr. Hammill is furnished as Exhibit 99.1 hereto.

MARRONE BIO INNOVATIONS INC Exhibit
EX-99.1 2 ex99-1.htm       Marrone Bio Innovations Appoints Kevin Hammill as New Chief Commercial Officer   Executive With Proven Track Record Brings MBI Over 25 Years of Agrochemical and Biologicals Experience   DAVIS,…
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About MARRONE BIO INNOVATIONS, INC. (NASDAQ:MBII)

Marrone Bio Innovations, Inc. offers bio-based pest management and plant health products. The Company’s bio-based products include naturally occurring microorganisms, such as bacteria, fungi and plant extracts. It sells its products to crop protection market. Its four crop protection products include Regalia, Grandevo, Venerate and Majestene. Its products are used in both conventional and organic crop production, and are sold to growers of specialty crops, such as grapes, citrus, tomatoes, vegetables, nuts, leafy greens and ornamental plants. It offers Regalia for large-acre row crops, such as corn and soybeans. Its pipeline of early-stage discoveries and product candidates extends across a range of product types for end markets, including herbicides, fungicides, nematicides, insecticides, algaecides (for algae control), molluscicides (for mussel and snail control), and plant growth and plant stress regulators. It is engaged in developing MBI-010, MBI-110, Haven (MBI-505) and MBI-601.