FARM - Farmer Brothers Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) | Benzinga
IRVING, Texas, July 02, 2024 (GLOBE NEWSWIRE) -- Farmer Brothers Co., a Delaware corporation, (NASDAQ:FARM) reported today the company issued certain inducement awards under the Farmer Bros. Co. 2020 Inducement Incentive Plan to Chief Financial Officer Vance Fisher pursuant to Nasdaq Listing Rule 5635(c)(4).
The inducement awards, granted effective as of July 1, 2024, were previously approved by the company's board of directors and its compensation committee thereof and consist of 60,000 time-vesting restricted stock units (RSUs) and 120,000 performance-based restricted stock units (PBRSUs). The RSUs will ratably vest in shares of the company's common stock over three years on each anniversary of the award date, subject to Mr. Fisher's continued employment with the company through each vesting date. The PBRSUs will vest, if at all, in shares of ...