Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 20, 2022, Bernie Adcock notified Beyond Meat Inc. (the "Company")
that he is stepping down as the Company's Chief Supply Chain Officer effective
September 30, 2022 to pursue another opportunity. The role of Chief Supply Chain
Officer has been eliminated.
Mr. Adcock's responsibilities will be performed by Jonathan Nelson, the
Company's current Senior Vice President, Manufacturing Operations.
Mr. Nelson, age 57, has served as the Company's Senior Vice President,
Manufacturing Operations since December 1, 2021. Prior to that, Mr. Nelson
served as the Company's Vice President, NA Manufacturing Operations from May 3,
2021 to November 30, 2021, assuming additional responsibilities on an interim
basis pending the search for a chief operating officer from August 27, 2021 to
December 8, 2021. Prior to joining the Company, from March 2021 to May 2021, Mr.
Nelson served as Chief Executive Officer of JP Nelson Consulting, a private
consulting firm. From January 2012 to January 2021, Mr. Nelson served in various
roles with SunOpta, Inc. (NASDAQ: STKL), a global company focused on plant-based
foods and beverages, fruit-based foods and beverages, and organic ingredient
sourcing and production, including as Vice President, Operations - Ingredients
from January 2012 to March 2016, and Vice President, Operations - Plant Based
Food and Beverage from March 2016 to January 2021. Mr. Nelson received his BS in
Paper Science and Engineering from the University of Minnesota, and his MBA from
the University of Mary.
Mr. Nelson's compensation will not change in connection with his performance of
these responsibilities.
Mr. Nelson previously entered into the Company's standard form of
indemnification agreement, a copy of which is filed as Exhibit 10.11 to the
Company's Registration Statement on Form S-1/A filed with the SEC on January 9,
2019. Pursuant to the terms of the indemnification agreement, the Company may be
required, among other things, to indemnify Mr. Nelson for certain expenses,
including attorneys' fees, judgments, fines and settlement amounts incurred by
him in any action or proceeding arising out of his service as an officer of the
Company.
There is no arrangement pursuant to which Mr. Nelson was selected as an officer,
no family relationships between him and any director or other executive officer
of the Company, and no transactions involving him or a member of his immediate
family, that would require disclosure by the Company under Item 404(a) of SEC
Regulation S-K.
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