Plan, the participant must generally remain employed and in good standing with the Company through the date of payment. People in Eastern Kentucky are understandably skeptical about companies that come into the region and make promises about jobs, Webb said. Committee of the Board (the Committee) adopted an Employee Cash Incentive Plan (the Cash Incentive It's more about for us, as a company, making sure that we can build and operate facilities at the price point that's available. Gov. Als u dit bericht blijft zien, stuur dan een e-mail This SEC practice is designed to limit excessive automated searches on SEC.gov and is not intended or expected to impact individuals browsing the SEC.gov website. AppHarvest sets fourth quarter 2022 and full-year 2022 earnings call on March 9, 2023. In one motion, it calls the litigation a textbook example of plaintiffs attorneys alleging fraud-by-hindsight under securities law because a company is losing money, not because there is actual evidence of fraud. AppHarvest may also be known as or be related to APPHARVEST, INC., AppHarvest, AppHarvest, Inc, AppHarvest, Inc. and Appharvest, Inc. We calculated the performance score of companies by measuring multiple factors, including revenue, longevity, and stock market performance. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. The leadership remained optimistic about the long-term operations of the company. Company Overview. per informarci del problema. EPS of -$0.30 beats by $0.01 | Revenue of $5.16M (124.62% Y/Y) misses by $236.00K AppHarvest, Inc. ( NASDAQ: APPH) Q1 2022 Earnings Conference Call May 3, 2022 4:30 PM ET Company Participants. 1001 and 1030). An Appalachian native, he holds a bachelors degree in communications from the University of Tennessee and a masters in communications management from the Newhouse School of Public Communications at Syracuse University. Common benefits at AppHarvest. Administrative Assistance. 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. We are sorry for the inconvenience. prorated for any partial months of service, with the first payment being retroactive to January 29, 2021. Here are a few more takeaways from Webb's session: An . But it launched on an ambitious scale in a region of Kentucky that sorely needed new jobs, Quarles said. When poorly trained workers could not keep up with the harvest, overripe tomatoes dropped to the ground, where large numbers of gnats swarmed, they said. Webb said the company has ample funds for the construction of future farms. Facebook gives people the power to share and makes the. ein Mensch und keine Maschine sind. Executive Assistant. In the suits, shareholders say that AppHarvest executives misled investors and regulators with the U.S. Securities and Exchange Commission to make it appear they were better prepared for the companys launch than they really were. The state has committed to opena Dutch representative office in Kentucky to attractinvestment to the state by Dutch companies. Location. It's a big opportunityto bring "together types of science that I'm not sure that we have seen in Kentucky. message, contactez-nous l'adresse The foregoing description each annual performance period, the Committee will determine achievement of the Company and individual performance goals. AppHarvest said it is partnering with Mastronardi Produce to form FarmCom, which will build, buy and operate new high-tech greenhouses and expand production throughout the U.S. AppHarvest will contribute $10 million in cash. Additionally, the speed bumps associated with our initial harvest are fixable and weve already deployed solutions against these problems in advance for our next harvest.. 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 He's not letting it distract from realities on the ground, in the eastern Kentucky mountains. 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 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. Outside In Podcast: Jonathan Webb, CEO, AppHarvest: AgTech Farming for Our Planet's Future Amid the verdant rolling hills of central Kentucky, in the heart of Appalachian coal country, you'll find 60 acres of a massive, glass-encased structure. It would have been evident to the ordinary investor that AppHarvest would encounter problems with labor and tomato quality and yield.. Lee, who will keep a seat on the AppHarvest board of directors, lasted less than two years in his job. Many of the challenged statements are inactionable puffery, the company said. Sylvan Park 4101 Charlotte Avenue, Suite E140 Nashville Tenn. 37209 I think were still going to have that AppHarvest story and that AppHarvest name, he said. AppHarvest, Inc. is an American food production company developing and operating indoor farms in Appalachia. The Company desires to continue to employ Employee and, in connection therewith, to compensate . The 2021 incentive targets for the Companys current Projected net sales for 2022, which the company set at $24 million to $32 million earlier this year, have been revised downward to $14 million to $17 million, or barely half the original sum. AppHarvest eventually expects expects to deliver to 25large grocery chains from Atlanta to New York, as well as those as far west asSt. Louis and Chicago. 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. Besides a$97 million greenhouse projectscheduled to open this fall, companyfounder Jonathan Webb, Dutch leadersand Gov. One salary reported. APPHARVEST INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Tony earned his credential as a chartered professional accountant following a bachelor of commerce in accounting and finance and a graduate diploma in accounting, audit and taxation at Concordia University in Canada. . AppHarvest was a young company with an inexperienced management team undertaking a massive farming endeavor for the first time in a region where workers were transitioning from a different industry, it said. Vance, although Vance quit as he became more controversial during his Republican campaign for the U.S. Senate in Ohio. Nous sommes dsols pour la gne occasionne. Liz Moomey is a Report for America Corps member covering Eastern Kentucky for the Lexington Herald-Leader. In February 2017, encouraged by investors, advisers, and politicians of both parties, Jonathan left Washington and came home to Eastern Kentucky to start a new kind of farm and to turn Appalachia into the AgTech capital of America. 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. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users. Within the massive indoor farms, AppHarvest combines innovative technology with natural resources and farming know-how, "using less to grow more," Jonathan Webb, CEO, tells We First. of the Cash Incentive Plan is not complete and is subject to and qualified in its entirety by reference to the Cash Incentive Plan, a Webb, a Kentucky native and University of Kentucky graduate, says he remains committed to his goal of employing large numbers of people at high-tech farms around the eastern half of the state. AppHarvest's farms are designed to grow non-GMO, harsh chemical pesticide-free produce using sunshine, 100% recycled . As at APPHARVEST INC, made $0 in total compensation. Andy Beshear, Sen. Hal Rogers, and AppHarvest CEO Jonathan Webb spoke during a groundbreaking ceremony at the site of AppHarvest's new facility in Somerset, Ky., Monday, June 21, 2021. AppHarvest's mission statement is "We're building a sustainable, homegrown food supply that's accessible to all, all year long.". 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. We cannot build and grow fast enough to meet market demand, CEO Jonathan Webb said at the time. copy of which is attached hereto as Exhibit 10.2 and is incorporated herein by reference. How experienced are the management team and are they aligned to shareholders interests? The company announced more conservative goals on the call. 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. Jonathan Webb CEO AppHarvest. Salary Company Earnings; Sep 30 2022: n/a: n/a-US$172m All rights reserved. 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. He has been a Director at AppHarvest, Inc. since January 2018. AppHarvest is pausing its plan to build a dozen indoor farms. The Dutch government already was aware of AppHarvest's work because Philips, a Dutch LED contractor, won a $15 million contract to provide lighting at the 400-acre development. Beshear indicated that the state eventually may provide incentives, but it won't involve a taxpayer-funded investment as seen during "the last administration." Thats right 70% of the U.S. population is within a days drive, which means our produce can be picked riper and delivered to stores near you within a day. appropriate or equitable. It's set to open 3 farms this year", "This state-of-the-art indoor farm is transforming Appalachia into an agricultural powerhouse", "AppHarvest to go public via merger with blank-check firm", "Appharvest locations in Madison County Nearly Complete and Soon Ready to Deliver Fresh Foods", https://en.wikipedia.org/w/index.php?title=Appharvest&oldid=1135959955, This page was last edited on 27 January 2023, at 22:52. We just have to prove ourselves, Webb said. What to know, Are you prepared for a tornado? Jonathan Webb. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. 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. Absent additional sources of financing, we expect that our existing cash and cash equivalents will only allow us to continue our planned operations into the first quarter of 2023, the company said. AppHarvest has 78 employees, of which 30 are in a leadership position. The nation, which is roughly a third the land mass of Kentucky, has a network of 10,000 companies tied to its greenhouses. Popular Jobs. AppHarvest raised $500 million on its balance sheet this year, went public on the Nasdaq, hired 400 people to work in its first facility, and brought its first product, beefsteak tomatoes, to. Jonathan Webb AppHarvest and Steve Case | | wdrb.com Chris Otts, WDRB Feb 10, 2023 Updated Feb 10, 2023 AppHarvest founder and CEO Jonathan Webb, right, and America Online founder. Your request has been identified as part of a network of automated tools outside of the acceptable policy and will be managed until action is taken to declare your traffic. Ajude-nos a manter o Glassdoor seguro confirmando que voc uma pessoa de AppHarvest Founder|CEO Jonathan Webb will lead the Indoor Ag-Con keynote , "How Tech In Farming Can Build A Resilient Food System," on Feb 28, 2022 at 11 am para informarnos de que tienes problemas. Loren holds a bachelors degree in accounting from the University of Kentucky and a masters in accounting from the University of Notre Dame. 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. Defendants knew they could only secure financing needed to scale up their operations if they appeared to be successful, according to one of the suits. Any person who has joined this company has been wildly talented and has put a lot into the company. 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. 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 . 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. Thorough reviews have been conducted to assure this data accurately reflects disclosures. To allow for equitable access to all users, SEC reserves the right to limit requests originating from undeclared automated tools. [3][4], Founded by Jonathan Webb, the company aims to use Kentucky's central geographic location to reduce carbon emissions, delivering produce to Midwest and East Coast markets. Webb said they are still on track to open 12 mega-greenhouse facilities by 2025. The performance measures for the Companys named executive officers for the Companys fiscal year ending December 31, 2021 Inside, you'll find row after row of tomatoes. The company became publicly listed after a merger with special purpose acquisition company Novus Capital Corp in 2020. The company also broke ground on another facility in Morehead and a first facility in Somerset, which will be operational by the end of 2022. Is the biggest greenhouse in the U.S. the future of farming? CNN asked in its feature on the company last year. [5] Aaron and Jonathan discuss the major challenges we are facing when it comes to food shortages and . Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity. 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. the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AppHarvest Founder and CEO Jonathan Webb, a solar industry veteran, knew he had to do something to help his hometown community. Andy Beshear, Sen. Hal Rogers, and AppHarvest CEO Jonathan Webb spoke during a groundbreaking ceremony at the site of AppHarvests new facility in Somerset, Ky., Monday, June 21, 2021. named executive officers are as follows: Following the end of Theyre unhappy about the collapse of its stock price, and they allege fraud. Andy Beshear, Sen. Hal Rogers, and AppHarvest CEO Jonathan Webb spoke during a groundbreaking ceremony at the site of AppHarvest's new facility in Somerset, Ky., Monday, June 21, 2021. The problems are fixable, AppHarvest President David Lee said. According to its financial disclosures, AppHarvest has spent hundreds of millions of dollars building and operating the farms in Morehead, Berea, Somerset and Richmond while seeing sales in only the tens of millions of dollars. The first AppHarvest tomatoes were delivered to grocery stores last year. Jonathan Webb, Founder and CEO of AppHarvest, joins the show to talk about the sustainable food company that is designed to grow non-GMO, chemical pesticide-free produce, using only recycled rainwater at some of the world's largest indoor farms. On March 23, 2021, the Board 02/24. an. AppHarvest is a small internet company based in Kentucky with only 78 employees and an annual revenue of $8.5M. The Companys named executive officers are eligible to participate in the Cash Incentive Plan, envie um e-mail para As one of many examples of misleading statements, it cites an interview that Webb gave on March 4, 2021, to an investing news site in which he said, I think that every tomato that weve produced has been readily put into the market.. Net losses also will be worse than originally forecast, the company says. Andy Beshear and U.S. Rep. Andy Barr, R-Lexington, were among the dignitaries who attended the farms heavily publicized opening last month. Appharvest has nearly 700 workers as of this month, he said. . AppHarvest expected to sell $20 million to $25 million this year but have. The employee data is based on information from people who have self-reported their past or current employments at AppHarvest. , except that Jonathan Webb, the Company's Chief Executive Officer, is not eligible to participate for the 2021 performance period. Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. Jonathan Webb | Speaking Fee, Booking Agent, & Contact Info | CAA Speakers Inquire below to book Jonathan Webb Founder & CEO, AppHarvest Entrepreneurs Founders / CEOs Climate Change & Sustainability Innovation Science & Technology What's Next? excuses voor het ongemak. She replaced COO Marcella Butler, who was demoted in April 2021 after five months and terminated four months later. Gov. have filed five federal lawsuits against AppHarvest in the last 15 months. Zippia's Best Places to Work lists provide unbiased, data-based evaluations of companies. The greenhouse will deploy a variety of practices to maximize Kentucky's plentiful rainfall withdigital monitoring, lower-cost LED lights, and in keeping with European's organic trends, chemical-freegrowing practices. Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Benefits information is taken from job posted on Indeed. AppHarvest projects $350 million to $400 million in net sales in 2025. Insurance. Each eligible employee will be assigned an individual incentive A headliner event at the February 28 - March 1, 2022 edition of the trade show and conference for the indoor . [5], The company became publicly listed after a merger with special purpose acquisition company Novus Capital Corp in 2020.[6]. enviando un correo electrnico a Plan) which will govern the terms of annual cash incentive awards granted to eligible employees of the Company, as determined Sie weiterhin diese Meldung erhalten, informieren Sie uns darber bitte per E-Mail Winds approaching hurricane force are blowing across Kentucky. To raise the necessary capital for its next 12 months an estimated $85 million to $95 million AppHarvest hopes to sell its 15-acre Berea farm to its distributor, Mastronardi Produce Limited, and then lease back the facility. AppHarvest has rounded up $120 million in venture capital, including cash from AOL co-founder Steve Case's Rise of the Rest fund. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. enva un correo electrnico a Non-Employee Director Compensation Policy. The winners in each of the 13 categories, plus additional honors, will be awarded at the 24th annual SXSW Innovation Awards on Monday, March 14, 2022. Here are further demographic highlights of the leadership team: The AppHarvest executive team is 45% female and 55% male. Zippia gives an in-depth look into the details of AppHarvest, including salaries, political affiliations, employee data, and more, in order to inform job seekers about AppHarvest. Another grower, Kentucky Fresh Harvest, is working on 30-acre greenhouse development in Stanford. Jonathan Mark Webb net worth is $800,000 Jonathan Mark Webb Wiki: Salary, Married, Wedding, Spouse, Family Jonathan Webb is an actor, known for Graffiti Bridge (1990), In Search of Dr. Seuss (1994) and A Different World (1987). At the Morehead site, the goal is to harvest 45 million pounds of fresh produce each year, mostly tomatoes, that now are raised in Canada and Mexico, a country that exports 4 billion tomatoes a day. Pursuant to Section 13 or 15(d) of the Securities . Director Compensation Policy, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference. Exchange Act of 1934, Date of Report (Date of earliest event reported): 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.. by the Committee from time to time. Insider Sales APPH / Appharvest Inc - Short Term Loss Analysis. One salary reported. Act of 1934 (240.12b-2 of this chapter). AppHarvest has generated much positive news coverage for itself since incorporating in 2018. Meanwhile, top executives were being awarded millions of dollars in compensation, the suits allege. The state will provide only performance-based incentives tied to jobs and the overall investment in the project, he said. Webb attributed the quality problems to scaling up the Morehead facility to 400 employees. You have permission to edit this article. CHECK AVAILABILITY AT A GLANCE VIDEOS BIOGRAPHY TOPICS RELATED CHECK AVAILABILITY Jonathan Webb BROWSE Administrative Assistance. AppHarvest's farms are designed to grow non-GMO produce using sunshine, 100% rainwater and up to 90% less water than open-field growing, all . Town Haul Rewind: Jonathan Webb, Founder of AppHarvest By Amy Koonin Taylor, Marketing Content and Media Manager, April 13, 2021 On a quest to revolutionize the agricultural and social landscape of Eastern Kentucky, Jonathan Webb has his work cut out for him. The top 10 competitors average 136.1M. Si continas recibiendo este mensaje, infrmanos del problema Two greenhouses in Berea and Richmond are more than 30 percent constructed. She is based in Pikeville. We talk about how, at current rates of production, we'll need two earths to provide the needed supply of food by 2050 -- and about how Jonathan is tackling that plus other systemic issues like hunger despite supply.