{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-24-096167","form_type":"8-K","ticker":"VITL","cik":"0001579733","company_name":"Vital Farms, Inc.","filed_at":"2024-04-15T23:59:59+00:00","discovered_at":"2026-05-14T18:03:19.057233+00:00","generated_at":"2026-06-03T22:54:59.637703+00:00","sec_items":["1.01","1.02","2.03"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Vital Farms enters $60M senior secured revolving credit facility with JPMorgan","bullets":["New $60M 5-year revolving credit facility replaces prior $20M PNC facility, which terminated concurrently.","JPMorgan Chase acts as administrative agent; $0 drawn as of filing date.","Interest: SOFR + 0.10% plus margin 0.75%-1.25% or base rate plus 1.75%-2.25%, based on net leverage.","Covenants: net leverage ≤3.25x (up to 4.00x after M&A); fixed charge coverage ≥1.35x.","Includes $5M LC sub-limit and accordion option for up to $35M or 100% consolidated adjusted EBITDA."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-24-096167","json":"https://secwatch.observer/filing/0001193125-24-096167.json","markdown":"https://secwatch.observer/filing/0001193125-24-096167.md","text":"https://secwatch.observer/filing/0001193125-24-096167.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1579733/000119312524096167/0001193125-24-096167-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1579733/000119312524096167/d824960d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-03T22:54:59.637703+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"db8db9ddeafca0194d337a6f7c6bde922b2d9ea2","claim":"Vital Farms, Inc. incurred revolving credit of $60.0 million with JPMorgan Chase Bank, N.A. at adjusted term Secured Overnight Financing Rate or adjusted daily Secured Overnig maturing five years.","evidence_excerpt":"On April 9, 2024, Vital Farms, Inc. (the “Company”) entered into a credit agreement with the other loan parties party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent, which provides for a five-year $60.0 million senior secured revolving credit facility (the “2024 Credit Facility”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1579733/000119312524096167/0001193125-24-096167-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"$60.0 million"},{"label":"Counterparty","value":"JPMorgan Chase Bank, N.A."},{"label":"Rate","value":"adjusted term Secured Overnight Financing Rate or adjusted daily Secured Overnig"},{"label":"Maturity","value":"five years"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"61cd5a431214cf46f7229bea95755418a838136b","claim":"Vital Farms, Inc. terminated previous $20.0 million revolving credit and term loan facility entered into on October 4, 2017 with PNC Bank, National Association with PNC Bank, National Association valued at $20.0 million (effective 2024-04-09).","evidence_excerpt":"The 2024 Credit Facility replaced the Company’s previous $20.0 million revolving credit and term loan facility entered into on October 4, 2017 with PNC Bank, National Association, which terminated concurrently with the establishment of the 2024 Credit Facility.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1579733/000119312524096167/0001193125-24-096167-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"termination"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"PNC Bank, National Association"},{"label":"Value","value":"$20.0 million"},{"label":"Effective","value":"2024-04-09"}],"fact_type":"material_agreement"},{"claim_id":"a3c7d38313b017470a1e006f6a1cf346cd20fa6a","claim":"Vital Farms, Inc. entered into 2024 Credit Facility with JPMorgan Chase Bank, N.A., as administrative agent valued at $60.0 million senior secured revolving credit facility (effective 2024-04-09).","evidence_excerpt":"On April 9, 2024, Vital Farms, Inc. (the “Company”) entered into a credit agreement with the other loan parties party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent, which provides for a five-year $60.0 million senior secured revolving credit facility (the “2024 Credit Facility”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1579733/000119312524096167/0001193125-24-096167-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"JPMorgan Chase Bank, N.A., as administrative agent"},{"label":"Value","value":"$60.0 million senior secured revolving credit facility"},{"label":"Effective","value":"2024-04-09"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}