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Stock impact report

Farmer Brothers Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Farmer Brothers Company (FARM) 
Last farmer brothers company earnings: 2/6 04:05 pm Check Earnings Report
Company Research Source: GlobeNewswire
NORTHLAKE, Texas, April 02, 2020 (GLOBE NEWSWIRE) -- Farmer Bros. Co. (NASDAQ:FARM) ( “Farmer Brothers” or the “Company”) today announced that on April 1, 2020, the Company issued a non-qualified stock option to purchase shares of the Company’s common stock with an aggregate grant date Black-Scholes value of $200,000, consisting of the option to purchase 88,495 shares with an exercise price of $6.72 per share (the “Grant”), which is equal to the closing price of the Company’s common stock on the date of grant to its new Chief Financial Officer, Scott R. Drake, under the Farmer Bros. Co. 2020 Inducement Incentive Plan (the “Inducement Plan”).  The stock option has a seven-year term and will ratably vest over three years on each anniversary of the award date, subject to Mr. Drake’s continued employment through each vesting date. The Company’s Board of Directors approved the Grant on March 4, 2020. The Inducement Plan is used exclusively for the grant of equity awards to individuals w Show less Read more
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