---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-103017"
form_type: "8-K"
ticker: "FARM"
cik: "0000034563"
company_name: "FARMER BROTHERS CO"
filed_at: "2023-09-22T23:59:59+00:00"
generated_at: "2026-06-10T09:56:47.875548+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# CEO Deverl Maserang to depart Sept 30; board slate set for 2023 annual meeting

## Summary
- CEO Deverl Maserang's employment terminated without cause effective Sept 30, 2023; receives severance per prior agreement.
- Partial acceleration of 35,806 RSUs vesting on Sept 30 (92% of units originally scheduled for Nov 1, 2023 vesting).
- Directors David A. Pace and Bradley L. Radoff intend to stand for re-election at the 2023 annual meeting.
- Board to be fixed at seven members after annual meeting; slate includes Loretz-Congdon, Pace, Poe, Radoff, Zaman, one agreed director, and new CEO.
- Proposed slate would have extended standstill under October 2022 Cooperation Agreement if agreed earlier; current standstill not extended.

## SEC filing metadata
- accession: 0001104659-23-103017
- form_type: 8-K
- ticker: FARM
- cik: 0000034563
- company_name: FARMER BROTHERS CO
- filed_at: 2023-09-22T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/34563/000110465923103017/0001104659-23-103017-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/34563/000110465923103017/tm2326615d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-103017
- JSON: https://secwatch.observer/filing/0001104659-23-103017.json
- Plain text: https://secwatch.observer/filing/0001104659-23-103017.txt

## Key facts
- Executive change
  Deverl Maserang was terminated as President and Chief Executive Officer at FARMER BROTHERS CO.
  - Action: terminated
  - Role: President and Chief Executive Officer
  source text: the Company and Deverl Maserang, the Company’s President and Chief Executive Officer and a member of the Company’s Board of Directors (the “Board”), had agreed that Mr. Maserang’s employment with the Company would be terminated, without cause, effective September 30, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/34563/000110465923103017/0001104659-23-103017-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.