", "What Will the Rise of Giant Indoor Farms Mean for Appalachian Kentucky? Groups of shareholders including a public pension fund in Plymouth, Mass. Act of 1934 (240.12b-2 of this chapter). Celebrities on the board of directors included lifestyle entrepreneur Martha Stewart and investor and Hillbilly Elegy author J.D. I dont even believe it yet. 11th Region shocker dethrones perennial champion. AppHarvest discloses substantial doubt about its future, Southern Kentucky Health & Family Magazine, Braiden Myers signs with the University of Kentucky, Potential severe weather forces postponement of, Pulaski County overcomes slow start, takes down, Jaclyn Davis signs with the University of the C. Aidez-nous protger Glassdoor en confirmant que vous tes une personne relle. Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Please enable Cookies and reload the page. appropriate or equitable. to let us know you're having trouble. a Non-Employee Director Compensation Policy (the Non-Employee Director Compensation Policy). [1] AppHarvest's greenhouses aim to primarily use sunlight in lieu of LEDs for growing plants hydroponically. March 23, 2021, (Exact name of registrant as specified in its See the latest outages from Kentucky Utilities, Blue Grass Energy and more, My favorite reporter is back: Familiar face returns to Lexington TV news, Flash flooding, tornadoes possible Friday in Lexington. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. employee will be assigned an individual incentive target expressed as a percentage of the employee's annual base salary . scaling up the Morehead facility to 400 employees. You may retrieve the full proxy statement by going to the Securities and Exchange Commission (SEC) website at www.sec.gov and entering the company's name and then looking in the first column for an entry of "Form DEF 14A" (or any similar code). To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. After years of study and gathering support from inside and outside the region, Jonathan is turning his dream of a high-tech farming hub in Appalachia into reality. AppHarvest sets fourth quarter 2022 and full-year 2022 earnings call on March 9, 2023. Andy Beshear unveiled an ambitious vision to grow fresh produce in the eastern U.S.,create jobs fora region slammed by coal's collapseand build an "ag-tech"epicenter. AppHarvest is a sustainable food company in Appalachia developing and operating some of the worlds largest high-tech indoor farms with robotics and artificial intelligence to build a reliable, climate-resilient food system. Coronavirus Tips Working and Protection. para informarnos de que tienes problemas. The Berea farm, which will grow salad greens, was intended to be the newest jewel in AppHarvests crown. Wenn The year 2020 has been especially eventful for the company, which raised $28 million in August and finished building out its 2.76 million-square foot flagship facility a few months ago. AppHarvest also invested $5 million in Red Sea Farms, an AgTech company based in the Middle East for sustainable farming in water-scarce areas by using saltwater for both growing and cooling. And thats where these facilities start throwing off tens of millions of pounds of vegetables and fruits and were optimizing production and that cash is thrown back into the company.. EMPLOYMENT AGREEMENT . The company operates a 60-acre tomato farm in Morehead, Kentucky,[1][2] with plans to operate an additional 3 farms across Kentucky. Mr. Jonathan Webb is Founder and Chief Executive Officer at AppHarvest, Inc since January 2018 and is its Chairman of the Board. He has been a Director at AppHarvest, Inc. since January 2018. Gov. Kentucky and West Virginia once helped power America with low-cost coal. One salary reported. The problems are fixable, AppHarvest President David Lee said. each annual performance period, the Committee will determine achievement of the Company and individual performance goals. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. The Cash Incentive Plan provides UPS has a new facility in Louisville to distribute coronavirus supplies for FEMA, Your California Privacy Rights / Privacy Policy. Share prices nosedived from more than $30 in February 2021, when the company went public on the NASDAQ exchange, to about $1.20 this week. Aaron and Jonathan discuss the major challenges we are facing when it comes to food shortages and . Emily brings a wealth of knowledge and experience to her current role, having earned her SHRM certification and a bachelor's in interdisciplinary studies from Western Kentucky University. . You have to say, Gee, do you have today the cash on hand to get through the next 12 months? And if you dont, you need to insert this language into your SEC filing., In the end, its possible that AppHarvest itself, not just a farm, could be acquired by a larger company, Webb said. Meanwhile, top executives were being awarded millions of dollars in compensation, the suits allege. . positions our company to be a global leader in this industry," said Jonathan Webb, founder and CEO of AppHarvest. Drawing inspiration from a National Geographic article he read on sustainable indoor farming in the Netherlands, Webb traveled with friends to Holland in 2015 to see the farms for himself. One salary reported . We're building a sustainable, homegrown food supply that's accessible to all, all year long. In re: AppHarvest Securities Litigation, U.S. District Court, Southern District of New York In reality, they said, many of the tomatoes grown in Morehead fell short of the USDA Grade No. That know-how is expected to spark a collaboration between the companies, as well as two Dutch-based higher-ed institutions and five in Kentucky Morehead State University, Berea College and Eastern Kentucky University, University of Kentucky and University of Pikeville, which has discussed a certificate program forstudents seeking careers in the industry. ein Mensch und keine Maschine sind. Gov. Thorough reviews have been conducted to assure this data accurately reflects disclosures. AppHarvest ( APPH) CEO Jonathan Webb said the company has its eyes on the long term as it looks to "institutionalize" controlled environment agriculture (CEA). The first AppHarvest tomatoes were delivered to grocery stores last year. The applied technology company is developing and operating some of the world's largest high-tech indoor farms. At times, the company had to bring in contract labor from outside the region, according to the suits. AppHarvest's (APPH) CEO Jonathan Webb on Q1 2021 Results - Earnings Call Transcript May 17, 2021 12:38 PM ET AppHarvest, Inc. (APPH) SA Transcripts 128.21K Follower s Play Earnings Call. Exhibit 10.24 . Management believes there is substantial doubt about our ability to continue as a going concern, AppHarvest warned investors Nov. 7 in its 10-Q filing for the third quarter of 2022. If you continue to see this Hopefully when we have this conversation in the end of 23, youll see a company that is less about talk and less about me talking, candidly and more about results.. There are large conglomerates in auto manufacturing. The company, which has raised more than $100 million in funding, is building some of the largest indoor farms in the world, combining conventional agricultural techniques with today's . Gov. Inside, you'll find row after row of tomatoes. "What we're doing here has really caught the attention of people around the world.". Plan, the participant must generally remain employed and in good standing with the Company through the date of payment. Help us make this company more transparent. AppHarvest acquired Root AI, an agricultural robotics and artificial intelligence company that helps manage high-tech indoor farms, in April to collect data while harvesting. If youre asking today, were going to focus on saying, lets get these four farms up and running in 2023, and month by month in 2023, well continue to evaluate options to expand the business, Webb said. How has Jonathan Webb's remuneration changed compared to AppHarvest's earnings? Check the appropriate box below if the Form 8-K filing is intended Before founding AppHarvest, Jonathan worked with the U.S. Department of Defense on a massive solar project to help achieve a White House goal of ensuring the military . You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. Kentucky native and University of Kentucky graduate Jonathan Webb is turning his dream of a high-tech farming hub in Appalachia into reality with AppHarvest. Sorry, there are no recent results for popular commented articles. envie um e-mail para However, given the financial challenges facing the company, his original plan to open 12 mega-farms by 2025 is off the table for now, he said. Who has power? AppHarvest's farms are designed to grow non-GMO produce using . On today's show, AppHarvest Founder & CEO Jonathan Webb talks about AgTech (agriculture tech), the third wave of sustainable infrastructure. The Committee (or its delegate) will administer the Cash Incentive Plan and will have the authority to determine all of the awards granted A look at forecast, timeline. AppHarvest CEO Jonathan Webb has given dozens of interviews to promote the company. Company leadership on the call said the profits from selling tomatoes from the flagship Morehead greenhouse were lower because the prices of tomatoes hit a 10-year low in May and the quality of the tomatoes was lacking. Support strong local journalism by subscribing today: courier-journal.com/graces. MT. AppHarvest has rounded up $120 million in venture capital, including cash from AOL co-founder Steve Case's Rise of the Rest fund. The chart on this page features a breakdown of the total annual pay for , at APPHARVEST INC as reported in their proxy statements. For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. Facility Coordinator. One salary reported. I think were still going to have that AppHarvest story and that AppHarvest name, he said. Webb said the company has ample funds for the construction of future farms. Were releasing the race cars onto the track, but were still kind of in ramp-up mode on the race cars, he said. Please declare your traffic by updating your user agent to include company specific information. AppHarvest has sold 13.4 million pounds of tomatoes since its inaugural harvest in January, but in an earnings call Wednesday, the mega-greenhouse company announced it recorded a net loss of $32 million in its second quarter. of the Non-Employee Director Compensation Policy is not complete and is subject to and qualified in its entirety by reference to the Non-Employee Inside, you'll find row after row of tomatoes. She replaced COO Marcella Butler, who was demoted in April 2021 after five months and terminated four months later. Jonathan is an entrepreneur and the founder and CEO of AppHarvest (@appharvest), a company that is helping to turn his dream of a high-tech farming hub in Appalachia into reality. When Webb gave optimistic interviews, such as describing the good, healthy, consistent supply of tomatoes, that was not fraud by any legal definition, the company said. If an emerging growth company, indicate by check mark if the registrant The investment pool focuses on promising technology and new companies in middle America, which Case has argued are too often passed over in favor ofSilicon Valley and East Coast tech hubs. Of this total $0 was received as a salary, $0 was received as a bonus, $0 was received in stock options, $0 was awarded as stock and $0 came from other types of compensation. All rights reserved. Jonathan Webb's Post Jonathan Webb CEO at AppHarvest 1y CEO Jonathan Webb explained how it grew from a $250,000 seed round to a public company in three years. AppHarvest Founder & CEO Mar 2017 Related Hubs Education Jonathan Webb studied at University of Kentucky. "This startup is going to put one of the world's largest sustainable greenhouses in coal country", "Could the biggest greenhouse in the US be the future of farming? So yeah, were actively having conversations with CEOs, with investors, with partners, with anyone who wants to partner with us here in Kentucky and to help make our mission succeed..
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