Vital Farms, Inc 8-K, filed Jan 16, 2025
Vital Farms, Inc. (VITL)
About this 8-K
Vital Farms, Inc filed this 8-K on January 16, 2025.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 16, 2025, Vital Farms, Inc. (the “Company”) announced the appointment of Peter Pappas, the Company’s current Chief Sales Officer, as Chief Sales Officer and President, Eggs and Kathryn McKeon, the Company’s current Chief Marketing Officer, as Chief Marketing Officer and General Manager, Butter, in each case effective as of January 1, 2025. Mr. Pappas and Ms. McKeon will retain their respective current roles and will additionally have day-to-day oversight authority over the Company’s eggs business and butter business, respectively.
Biographical information for each of Mr. Pappas, age 60, and Ms. McKeon, age 42, was included on page 39 of the Company’s definitive proxy statement filed with the Securities and Exchange Commission on April 29, 2024, and is incorporated by reference herein. No amendments were made to either Mr. Pappas’s or Ms. McKeon’s offer letters with the Company in connection with the title changes.
There are no family relationships between either Mr. Pappas or Ms. McKeon and any of the Company’s directors or executive officers, nor are there any related party transactions between Mr. Pappas or Ms. McKeon and the Company that would be required to be reported under Item 404(a) of Regulation S-K.
Item 7.01 Regulation FD Disclosure.
On January 16, 2025, the Company issued a press release announcing the executive appointments above, a copy of which is attached hereto as Exhibit 99.1 and is hereby incorporated by reference.
The information set forth under Item 7.01 of this Current Report, including Exhibit 99.1 attached hereto, is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
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99.1 |
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104.1 |
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Cover Page Interactive Data File (embedded within the inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Vital Farms, Inc. |
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Date: |
January 16, 2025 |
By: |
/s/ Joanne Bal |
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Joanne Bal |
Vital Farms Announces Expanded Roles for Two Senior Leaders
Pete Pappas will serve as Chief Sales Officer and President, Eggs; Kathryn McKeon will serve as Chief Marketing Officer and General Manager, Butter
AUSTIN, Texas, Jan. 16, 2025 (GLOBE NEWSWIRE) – Vital Farms (Nasdaq: VITL), a Certified B Corporation that offers a range of ethically produced foods nationwide, today announced expanded roles for two members of its Senior Leadership Team. Pete Pappas, Vital Farms’ Chief Sales Officer, will expand his role to Chief Sales Officer and President, Eggs. Kathryn McKeon, Vital Farms’ Chief Marketing Officer, will serve as Chief Marketing Officer and General Manager, Butter. Both appointments support the continued growth of Vital Farms’ eggs and butter businesses as the company pursues its target of $1 billion in annual net revenue by 2027.
In his expanded role, Pappas will assume leadership over Vital Farms’ eggs business while retaining leadership of Vital Farms’ sales organization. This expanded role includes direct oversight of Vital Farms’ robust farm network of more than 425 family farms. Pappas joined Vital Farms in 2020, bringing more than 30 years of experience working with consumer brands, grocery retailers, and food manufacturers. He has been a key leader in scaling Vital Farms’ sales team and ensuring consumers are able to find Vital Farms eggs and butter on the shelves at approximately 24,000 stores nationwide.
McKeon will assume leadership over Vital Farms’ growing butter business in addition to her leadership of the marketing organization. McKeon is Vital Farms’ most tenured marketing leader and joined the company in 2016, bringing more than 15 years of experience building global and emerging consumer food brands. She was promoted to the Chief Marketing Officer role in 2022 and has played an instrumental role in evolving the Vital Farms brand, building a world-class marketing team, and attracting and retaining new households.
“Vital Farms is well-positioned to continue delivering strong growth against our goal to achieve at least $1 billion in annual net revenue by 2027, and these key leadership scope expansions ensure we continue to have the right focus on our eggs and butter business,” said Russell Diez-Canseco, Vital Farms’ President and CEO. “I have the utmost respect for and trust in Pete and Kathryn as stewards of our business and our brand. I am excited to continue working with them in these expanded roles as we advance our growth strategy and mission to bring ethical food to the table.”
ABOUT VITAL FARMS
Vital Farms (Nasdaq: VITL) is a Certified B Corporation that offers a range of ethically produced foods nationwide. Started on a single farm in Austin, Texas in 2007, Vital Farms is now a national consumer brand that works with over 425 family farms and is the leading U.S. brand of pasture-raised eggs by retail dollar sales. Vital Farms’ ethics are exemplified by its focus on the humane treatment of farm animals and sustainable farming practices. In addition, as a Delaware public benefit corporation, Vital Farms prioritizes the long-term benefits of each of its stakeholders, including farmers and suppliers, customers and consumers, communities and the environment, and crew members and stockholders. Vital Farms’ products, including shell eggs, butter,
hard-boiled eggs, and liquid whole eggs, are sold in approximately 24,000 stores nationwide. Vital Farms pasture-raised eggs can also be found on menus at hundreds of foodservice operators across the country. For more information, visit https://vitalfarms.com/.
Media:
Rob Discher
Rob.Discher@vitalfarms.com
Investors:
Anthony Bucalo
Anthony.Bucalo@vitalfarms.com