Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 7, 2020, the Board of Directors (the "Board") of Vital Farms, Inc.
(the "Company") appointed Bo Meissner to serve as Chief Financial Officer and as
the principal financial officer and principal accounting officer of the Company,
effective December 28, 2020, the beginning of the Company's fiscal year ending
2021. The Board's appointment of Mr. Meissner to this role marks the successful
completion of a previously disclosed transition period following Mr. Meissner's
commencement of employment with the Company in July 2020. Jason Dale, who is
currently the Company's Chief Operating Officer and Chief Financial Officer, as
well as its principal financial officer and principal accounting officer, will
continue to serve as the Company's Chief Operating Officer as of December 28,
2020.
Mr. Meissner, age 59, has served as the Company's Executive Vice President,
Finance, since July 2020. Prior to joining the Company, Mr. Meissner served as
Vice President and Chief Financial Officer and a board member of NatureSweet, a
company selling greenhouse grown vegetables, from May 2016 to May 2020. Prior to
NatureSweet, Mr. Meissner served in various roles, including most recently as
Senior Vice President of Finance and Treasury at Boulder Brands, a food company,
from December 2010 to August 2015 and as the Vice President of Financial
Planning and Analysis from November 2008 to December 2010. Prior to that,
Mr. Meissner served in a broad range of finance and accounting roles at Dr
Pepper Snapple Group (formerly Cadbury Schweppes Americas Beverages and now part
of Keurig Dr Pepper, Inc.), a multinational beverage company, from 2001 to 2008,
and at Procter & Gamble, a multinational consumer goods company, in Canada,
Europe and the United States, from 1989 to 2000. Mr. Meissner received his B.Sc.
from Carleton University in Ottawa, Canada and his M.B.A. from Queen's
University in Kingston, Canada.
There are no family relationships among Mr. Meissner and any of the Company's
directors or other executive officers, nor are there any related party
transactions between Mr. Meissner and the Company.
Like the Company's other executive officers, Mr. Meissner is an at-will
employee. Pursuant to his offer letter entered into with the Company in July
2020, as Chief Financial Officer, Mr. Meissner will continue to receive an
annual base salary of $320,000 per year and will remain eligible for a
discretionary annual bonus at an annual target amount of 60% of his base salary,
as and if determined by the Board. Mr. Meissner is also eligible to participate
in the Company's employee benefit plans, including its medical, dental, vision,
disability and life insurance plans, in each case on the same basis as all of
the Company's other employees.
On December 17, 2020, the Company issued a press release announcing
Mr. Meissner's appointment as Chief Financial Officer. A copy of the press
release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is
incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit
No. Description
99.1 Press Release, dated December 17, 2020--------------------------------------------------------------------------------
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VITAL FARMS, INC. 
