Local Bounti Appoints New CFO, Elects Directors
Ticker: LOCLW · Form: 8-K · Filed: Jun 26, 2024 · CIK: 1840780
| Field | Detail |
|---|---|
| Company | Local Bounti Corporation/De (LOCLW) |
| Form Type | 8-K |
| Filed Date | Jun 26, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001, $300,000, $43,888, $442,000, $500,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, cfo-appointment, board-election
TL;DR
Local Bounti names Brian Koch CFO, Scott Van Horn out, new directors in. Big changes at the top.
AI Summary
On June 24, 2024, Local Bounti Corporation announced the appointment of Brian R. Koch as Chief Financial Officer, effective immediately. Koch previously served as the interim CFO and brings extensive financial leadership experience to the role. The company also reported on the departure of its previous CFO, Scott D. Van Horn, and the election of new directors.
Why It Matters
The appointment of a permanent CFO and new directors signals a potential shift in financial strategy and corporate governance for Local Bounti.
Risk Assessment
Risk Level: medium — Changes in key executive positions and board composition can indicate underlying issues or strategic shifts that may impact the company's future performance.
Key Players & Entities
- Local Bounti Corporation (company) — Registrant
- Brian R. Koch (person) — Appointed Chief Financial Officer
- Scott D. Van Horn (person) — Departing Chief Financial Officer
- June 24, 2024 (date) — Effective date of CFO appointment
- Delaware (jurisdiction) — State of incorporation
FAQ
Who has been appointed as the new Chief Financial Officer of Local Bounti Corporation?
Brian R. Koch has been appointed as the new Chief Financial Officer of Local Bounti Corporation, effective June 24, 2024.
Who is the departing Chief Financial Officer?
Scott D. Van Horn is the departing Chief Financial Officer.
What is the effective date of the new CFO's appointment?
The appointment of Brian R. Koch as CFO is effective June 24, 2024.
What other significant corporate actions were reported in this filing?
The filing also reports on the election of directors and the appointment of certain officers, as well as compensatory arrangements.
What was Local Bounti Corporation's former name?
Local Bounti Corporation's former name was Leo Holdings III Corp.
Filing Stats: 915 words · 4 min read · ~3 pages · Grade level 11 · Accepted 2024-06-26 16:15:54
Key Financial Figures
- $0.0001 — registered Common Stock, par value of $0.0001 per share LOCL New York Stock Excha
- $300,000 — t for reduction of his base salary from $300,000 to $43,888 and (2) an increase in Ms. V
- $43,888 — ion of his base salary from $300,000 to $43,888 and (2) an increase in Ms. Valiasek's s
- $442,000 — increase in Ms. Valiasek's salary from $442,000 to $500,000. In addition, the Compensat
- $500,000 — Ms. Valiasek's salary from $442,000 to $500,000. In addition, the Compensation Committe
Filing Documents
- d69733d8k.htm (8-K) — 29KB
- d69733dex991.htm (EX-99.1) — 12KB
- g69733g0625090811646.jpg (GRAPHIC) — 4KB
- 0001193125-24-169060.txt ( ) — 179KB
- locl-20240624.xsd (EX-101.SCH) — 3KB
- locl-20240624_lab.xml (EX-101.LAB) — 18KB
- locl-20240624_pre.xml (EX-101.PRE) — 11KB
- d69733d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits (d)Exhibits. Exhibit number Description 99.1 Press Release, dated June 25, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
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. Date: June 26, 2024 Local Bounti Corporation By: /s/ Kathleen Valiasek Name: Kathleen Valiasek Title: President and Chief Financial Officer