Arcadia Biosciences launches CEO search; Matt Plavan to step down when successor named

Arcadia Biosciences, Inc.

National CEO search underway as Arcadia expands CPG portfolio; successor expected by year-end 2021.
CEO Matt Plavan will step down once successor is named; he has led since 2019, transitioning Arcadia from ag-biotech to CPG.
Transition Agreement: if terminated without cause before Dec 1 2021, Plavan receives $30,833/month consulting through Nov 30 2021.
Severance: $61,666 on Jan 1 2022, $61,666 on Feb 1 2022, $143,278 on Mar 1 2022; full option vesting conditioned on release.
Chairman Kevin Comcowich thanked Plavan for leading through a critical transformation and pandemic.

item 5.02 item 9.01

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Departed

Matthew Plavan

Chief Executive Officer

RKDA · Arcadia Biosciences, Inc.

Filed: September 7, 2021, 7:59 PM ET

the Company and Matthew Plavan, the Company’s current Chief Executive Officer, entered into a Transition Agreement on September 3, 2021

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Executive change SEC 8-K Item 5.02 confidence 0.8

Matthew Plavan departed as Chief Executive Officer at Arcadia Biosciences, Inc..

Role: Chief Executive Officer

Exact text from the filing

the Company and Matthew Plavan, the Company’s current Chief Executive Officer, entered into a Transition Agreement on September 3, 2021

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Source: SEC EDGAR

accession 0000950170-21-001688

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