Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 12, 2021, Hydrofarm Holdings Group, Inc. (the 'Company') appointed Mr. Joseph Rumley, 62, as the Company's Chief Accounting Officer, effective as of the same date. Mr. Rumley will serve as the Company's principal accounting officer and will report to the Company's Chief Financial Officer, B. John Lindeman.
Prior to joining the Company, Mr. Rumley served as the Chief Financial Officer of West Coast Berry Farms LLC since January 2018. Mr. Rumley previously served as the Chief Financial Officer and Principal Accounting Officer of Limoneira Company (Nasdaq: LMNR) from June 2010 until January 2018. Mr. Rumley has 20 years of public accounting experience, including serving an audit partner at Grant Thornton, LLP and McGladrey & Pullen, LLP. Mr. Rumley received a Bachelor of Science in Accounting from California State University Northridge and a Master of Business Administration from Pepperdine University. He is a California Certified Public Accountant.
Mr. Rumley's annual base salary is $300,000, and he is eligible for an annual performance bonus of up to fifty percent (50%) of his annual base salary and other benefits customarily available to the Company's employees, including an award of restricted stock units valued at $425,000 under the Company's 2020 Employee, Director and Consultant Equity Incentive Plan.
Mr. Rumley has no family relationships with any of the Company's directors or executive officers. There are no related party transactions between the Company and Mr. Rumley in excess of $120,000.
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Hydrofarm Holdings Group Inc. published this content on 13 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 July 2021 12:18:03 UTC.
Hydrofarm Holdings Group, Inc. is an independent manufacturer and distributor of hydroponics equipment and supplies for controlled environment agriculture (CEA). The products offered by the Company include agricultural lighting devices, indoor climate control equipment, nutrients, and plant additives used to grow, farm, and cultivate cannabis, flowers, fruits, plants, vegetables, grains, and herbs in controlled environment settings that allow end users to control farming variables including temperature, humidity, carbon dioxide, light intensity and color, nutrient concentration, and the potential of hydrogen (pH). Its CEA product categories include lighting solutions, growing media (premium soils and soil alternatives), nutrients, equipment, and supplies. The Company's brands include Active Air, Active Aqua, Aurora Peat Products, HEAVY 16, House & Garden, Gaia Green, Grotek, Innovative Growers Equipment, Mad Farmer, Phantom, PHOTOBIO, Procision, Roots Organics, Soul, and SunBlaster.
HYDROFARM HOLDINGS GROUP, INC. 
