NORTHLAKE, Texas, USA – Farmer Bros. Co. announces that Tom Bauer has been appointed as the Company’s new Vice President of its Direct Store Delivery (DSD) segment. Mr. Bauer will be responsible for leading the entire DSD function moving forward with the goal of driving growth and efficiencies while improving focus and profitability in this key area of the business.
Prior to joining the Company, Mr. Bauer worked in several sales and operational roles including leading the largest U.S. Coffee Division and Water Division at DS Services.
Most recently, he worked as Vice President of Sales and National Accounts at Emerald Brand, a manufacturer of sustainable disposable products, where he led national distribution and sales.
In conjunction with this appointment, the Company announced the issuance of the following restricted stock unit award consisting of a total of 9,980 shares of the Company’s common stock under the Farmer Bros. Co. 2020 Inducement Incentive Plan (the “Inducement Plan”) through an award of 9,980 restricted stock units on January 3, 2023, to Tom Bauer, its new Vice President, DSD.
This award will ratably vest over three years on each anniversary of the award date, subject to Mr. Bauer’s continued employment with the Company through each 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 has also announced that it will publish its 2023 fiscal second quarter financial results for the period ended December 31, 2022, in its inaugural quarterly shareholder letter which will be posted on Farmer Brothers investor relations website at https://farmerbrothers.gcs-web.com/ after market close on Wednesday, February 8th, 2023.
Following the posting of the shareholder letter to the investor relations website, management will host an audio-only investor conference call and webcast the same day at 5:00 p.m. Eastern time (4:00 p.m. Central time) to discuss the Company’s results.
Conference Call and Webcast Details:
When: Wednesday, February 8, 2023, at 5:00 p.m. ET (4:00 p.m. CT)
Live Call Pre-Registration: Callers who pre-register will be given dial-in details and a unique PIN via email to gain immediate access to the call and bypass the live operator. To pre-register, please go here.
The audio-only webcast replay will be archived for at least 30 days on the investor relations section of the Farmer Brothers website and will be available approximately two hours after the end of the live webcast.