NORTHLAKE, Texas, Aug. 03, 2022 (GLOBE NEWSWIRE) — Farmer Bros. Co. (NASDAQ: FARM) (“Farmer Brothers” or the “Company”) today announced that the Company has issued the following restricted stock unit award consisting of: a total of 39,062 common shares of the Company under the Farmer Bros. 2020 Incentive Plan. Co. (the “Incentive Plan”) through an award of 39,062 restricted stock units on August 1, 2022 to Charles Cahn, its new Vice President of Restarting Service Restoration™. This grant will vest pro rata over three years on each anniversary of the grant date, subject to Mr. Cahn’s continued employment with the Company until each vesting date.
The Incentive Plan is used exclusively for the granting of stock awards to individuals who were not previously employees of Farmer Brothers, as incentive material for such individuals entering into the employment of the company, pursuant to Nasdaq Rule 5635(c)(4) Listing Rules.
About Farmer Brothers
Founded in 1912, Farmer Bros. Co. is a national 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 coffees, hot and iced teas, cappuccino mixes, spices and baking/cookie mixes, the company offers extensive beverage and culinary planning services to its US-based customers. United. The company serves a wide variety of customers, from small independent restaurants and foodservice operators to large institutional buyers such as chain restaurants, department and convenience stores, hotels, casinos, healthcare facilities and gourmet cafes. , as well as grocery chains with private label coffee. and consumer-branded coffee and tea products, and foodservice distributors.
Jeff Majtyka and Kyle King