Local Bounti Corporation Announces Annual Meeting of Stockholders on June 13, 2024
Ticker: LOCLW · Form: DEF 14A · Filed: Apr 19, 2024 · CIK: 1840780
| Field | Detail |
|---|---|
| Company | Local Bounti Corporation/De (LOCLW) |
| Form Type | DEF 14A |
| Filed Date | Apr 19, 2024 |
| Risk Level | low |
| Pages | 16 |
| Reading Time | 19 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: Proxy Statement, Annual Meeting, Director Election, Equity Incentive Plan, Auditor Ratification
TL;DR
<b>Local Bounti Corporation is holding its Annual Meeting on June 13, 2024, to elect directors, approve charter amendments, and ratify auditor appointments.</b>
AI Summary
Local Bounti Corporation/DE (LOCLW) filed a Proxy Statement (DEF 14A) with the SEC on April 19, 2024. Local Bounti Corporation will hold its Annual Meeting of Stockholders on June 13, 2024. The meeting agenda includes the election of three Class III directors. Stockholders will vote on an amendment to the Certificate of Incorporation for officer exculpation. An amendment to the 2021 Equity Incentive Plan to increase share awards by 510,000 is proposed. The appointment of WithumSmith+Brown, PC as independent auditor for 2024 will be ratified.
Why It Matters
For investors and stakeholders tracking Local Bounti Corporation/DE, this filing contains several important signals. The election of directors and proposed amendments to the Certificate of Incorporation and Equity Incentive Plan are key governance decisions for shareholders. Ratification of the independent auditor is a standard but important step in financial oversight.
Risk Assessment
Risk Level: low — Local Bounti Corporation/DE shows low risk based on this filing. The filing is a routine proxy statement for an annual meeting, with no immediate financial or operational concerns highlighted.
Analyst Insight
Stockholders should review the director nominees and proposed amendments before the June 13, 2024 meeting.
Key Numbers
- 3 — Directors to be elected (Election of three Class III directors.)
- 510,000 — Additional Shares (Increase in shares for awards under the 2021 Equity Incentive Plan.)
- 2024-06-13 — Annual Meeting Date (Date of the Annual Meeting of Stockholders.)
- 2024-04-15 — Record Date (Record date for stockholder eligibility to vote.)
Key Players & Entities
- Local Bounti Corporation (company) — Registrant and filer of the proxy statement.
- June 13, 2024 (date) — Date of the Annual Meeting of Stockholders.
- April 15, 2024 (date) — Record date for determining stockholders eligible to vote.
- April 19, 2024 (date) — Date materials are first delivered to stockholders.
- WithumSmith+Brown, PC (company) — Proposed independent registered public accounting firm.
- 2021 Equity Incentive Plan (plan) — Plan for which an amendment is proposed.
FAQ
When did Local Bounti Corporation/DE file this DEF 14A?
Local Bounti Corporation/DE filed this Proxy Statement (DEF 14A) with the SEC on April 19, 2024.
What is a DEF 14A filing?
A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by Local Bounti Corporation/DE (LOCLW).
Where can I read the original DEF 14A filing from Local Bounti Corporation/DE?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Local Bounti Corporation/DE.
What are the key takeaways from Local Bounti Corporation/DE's DEF 14A?
Local Bounti Corporation/DE filed this DEF 14A on April 19, 2024. Key takeaways: Local Bounti Corporation will hold its Annual Meeting of Stockholders on June 13, 2024.. The meeting agenda includes the election of three Class III directors.. Stockholders will vote on an amendment to the Certificate of Incorporation for officer exculpation..
Is Local Bounti Corporation/DE a risky investment based on this filing?
Based on this DEF 14A, Local Bounti Corporation/DE presents a relatively low-risk profile. The filing is a routine proxy statement for an annual meeting, with no immediate financial or operational concerns highlighted.
What should investors do after reading Local Bounti Corporation/DE's DEF 14A?
Stockholders should review the director nominees and proposed amendments before the June 13, 2024 meeting. The overall sentiment from this filing is neutral.
Risk Factors
- Officer Exculpation Amendment [low — regulatory]: Approval of an amendment to the Certificate of Incorporation to provide for officer exculpation is sought.
- 2021 Equity Incentive Plan Amendment [low — financial]: An amendment to increase the number of shares available for awards under the 2021 Plan by 510,000 shares is proposed.
- Independent Auditor Ratification [low — financial]: The appointment of WithumSmith+Brown, PC as the independent registered public accounting firm for the year ending December 31, 2024, is subject to ratification.
Key Dates
- 2024-06-13: Annual Meeting of Stockholders — Key date for voting on director elections and corporate proposals.
- 2024-04-15: Record Date — Determines which stockholders are eligible to vote at the Annual Meeting.
- 2024-04-19: Materials Delivery Date — Date proxy materials are first sent to stockholders.
Glossary
- DEF 14A
- Definitive Proxy Statement filed with the SEC. (Indicates the filing is a formal proxy statement for shareholder voting.)
Filing Stats: 4,743 words · 19 min read · ~16 pages · Grade level 12.8 · Accepted 2024-04-19 16:30:43
Filing Documents
- ny20021053x2_def14a.htm (DEF 14A) — 590KB
- sig_mmccandless.jpg (GRAPHIC) — 12KB
- ny20021053x2_pc01.jpg (GRAPHIC) — 617KB
- ny20021053x2_pc02.jpg (GRAPHIC) — 474KB
- 0001140361-24-020795.txt ( ) — 2111KB
Executive Compensation
Executive Compensation ​ ​ 22 Equity Compensation Plan Information ​ ​ 24
Security Ownership of Certain Beneficial Owners and Management
Security Ownership of Certain Beneficial Owners and Management ​ ​ 25 Proposal 2 – Approval of an Amendment to our Certificate of Incorporation to Provide for Officer Exculpation ​ ​ 27 Proposal 3 – Approval of an Amendment to the 2021 Plan regarding Share Increase ​ ​ 29 Proposal 4 – Ratification of Appointment of Independent Registered Public Accounting Firm ​ ​ 38 Principal Accountant Fees and Services ​ ​ 38 Report of the Audit Committee ​ ​ 39 Where You Can Find More Information ​ ​ 39 Form 10-K ​ ​ 40 Other Matters ​ ​ 40 Annex A ​ ​ A-1 i TABLE OF CONTENTS Local Bounti Corporation 400 W. Main St., Hamilton, MT 59840 Proxy Statement for 2024 Annual Meeting of Stockholders The Board of Directors (the “Board”) of Local Bounti Corporation, a Delaware corporation (“Local Bounti,” “we,” “us,” or “our”), is soliciting your proxy to vote at the 2024 annual meeting of stockholders (the “Annual Meeting”) of Local Bounti to be held exclusively via live audiocast at virtualshareholdermeeting.com/LOCL2024 on June 13, 2024, at 9 a.m. mountain time, including at any adjournments or postponements of the Annual Meeting. The Annual Meeting will be held in a virtual-only format. You are invited to attend and vote your shares electronically at the Annual Meeting and submit questions by following the instructions available on the meeting website. You are encouraged to log in to the website above before the Annual Meeting begins. Online check in will be available approximately 15 minutes before the meeting starts. If you encounter any difficulties accessing or participating in the Annual Meeting through the meeting website, please call the support team at the number listed on the website