Local Bounti appoints co-founder Craig Hurlbert as CEO; FY2023 sales guided to ~$28M

Local Bounti Corporation/DE

Co-founder Craig Hurlbert appointed CEO effective Dec 14, 2023; annual salary $35,568.
Anna Fabrega's employment terminated; offered separation with severance and release (45 days to accept).
Company expects ~$3.2M annualized cost savings from restructuring and organizational optimization.
Georgia facility doubled run-rate production in December; FY2023 sales expected ~$28M (+44% YoY).
Washington facility seeding expected early Jan; Texas facility delayed to late Jan due to equipment delays.

item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Craig Hurlbert

Chief Executive Officer

LOCL · Local Bounti Corporation/DE

Effective: 2023-12-14
Filed: December 15, 2023, 6:59 PM ET

On December 14, 2023, the Board of Directors (the “Board”) of Local Bounti Corporation (the “Company”) appointed Craig Hurlbert as the Chief Executive Officer and principal executive officer of the Company, effective immediately.

Departed

Anna Fabrega

Chief Executive Officer

LOCL · Local Bounti Corporation/DE

Effective: 2023-12-14
Filed: December 15, 2023, 6:59 PM ET

On December 14, 2023, the Company determined that Anna Fabrega’s last day of employment as the Chief Executive Officer of the Company was December 14, 2023.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Craig Hurlbert was appointed as Chief Executive Officer at Local Bounti Corporation/DE.

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On December 14, 2023, the Board of Directors (the “Board”) of Local Bounti Corporation (the “Company”) appointed Craig Hurlbert as the Chief Executive Officer and principal executive officer of the Company, effective immediately.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Anna Fabrega departed as Chief Executive Officer at Local Bounti Corporation/DE.

Action: determined that her last day of employment was
Role: Chief Executive Officer

Exact text from the filing

On December 14, 2023, the Company determined that Anna Fabrega’s last day of employment as the Chief Executive Officer of the Company was December 14, 2023.

View on SEC.gov

Local Bounti Corporation/DE filing history →

Source: SEC EDGAR

accession 0001193125-23-296655

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