Salary information comes from 70 data points collected directly from employees, users, and past and present job advertisements on Indeed in the past 36 months. Employee is employed by the Company as its Chief Executive Officer. AppHarvest is a public benefit corporation and a Certified B Corp. Our Farms Our Leadership Our Board of Directors Our Farms Morehead, KY 60-Acres Tomatoes Berea, KY 15-Acres Salad Greens Somerset, KY 30-Acres Berries Richmond, KY 60-Acres Tomatoes Central to Our Mission We're within a day's drive of 70% of the population. , except that Jonathan Webb, the Company's Chief Executive Officer, is not eligible to participate for the 2021 performance period. Andy Beshear unveiled an ambitious vision to grow fresh produce in the eastern U.S.,create jobs fora region slammed by coal's collapseand build an "ag-tech"epicenter. High 59F. The farms grow tomatoes, leafy greens for salads and berries. . 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 is a small internet company based in Kentucky with only 78 employees and an annual revenue of $8.5M. A proxy statement (or "proxy") is a form that every publicly traded U.S. company is required to file with the U.S. Securities & Exchange Commission (SEC) within 120 days after the end of its fiscal year. Today on Work In Progress, Sophia is joined by Jonathan Webb (@webbjonathan). The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. The company became publicly listed after a merger with special purpose acquisition company Novus Capital Corp in 2020. Were disappointed with these results, but the good news is that prevailing market prices for tomatoes have already rebounded from the lows we experienced in the second quarter, Lee said. For security purposes, and to ensure that the public service remains available to users, this government computer system employs programs to monitor network traffic to identify unauthorized attempts to upload or change information or to otherwise cause damage, including attempts to deny service to users. An agreement signed Wednesday between the parties would create a series of research programs into sustainable agriculture and a center for excellence to boostagricultural innovation and new technologies. Theyre unhappy about the collapse of its stock price, and they allege fraud. AppHarvest has rounded up $120 million in venture capital, including cash from AOL co-founder Steve Case's Rise of the Rest fund. David Lee, as well as the AppHarvest CEO and Founder Jonathan Webb on the show in prior, I believe prior . You may retrieve the full proxy statement by going to the Securities and Exchange Commission (SEC) website at www.sec.gov and entering the company's name and then looking in the first column for an entry of "Form DEF 14A" (or any similar code). for a cash incentive award determined based on the achievement of specified annual Company performance goals, which include net revenue, amounts will be payable in equal quarterly installments in arrears following the end of each fiscal quarter in which the service occurs, While we more than doubled production from our first quarter, we have a moment in time opportunity to create more long-term shareholder value by doubling down on investments that help us reduce risk going forward by developing and deploying our leading technology, and operational best practices for CEA, and enhancing our brand power by launching value-added products next year, Lee said. ein Mensch und keine Maschine sind. Of this total $0 was received as a salary, $0 was received as a bonus, $0 was received in stock options, $0 was awarded as stock and $0 came from other types of compensation. 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. The foregoing description We hope that they are able to prosper.. He has a bachelors degree in business from the University of Kentucky. We would like to show you a description here but the site won't allow us. The company blames supply chain-related delays in opening three new farms. 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. Si continas recibiendo este mensaje, infrmanos del problema 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. Help other job seekers by rating AppHarvest. Stars Sophia Bush Jonathan Webb See production, box office & company info Add to Watchlist Photos Add photo Top cast Edit Sophia Bush Self - Host Jonathan Webb Instead, it will focus on trying to turn a profit over the next few years at its three existing farms, in Morehead, Berea and Somerset, and a fourth, in Richmond, that should be operating soon. Aaron and Jonathan discuss the major challenges we are facing when it comes to food shortages and . Of this total $250,000 was received as a salary, $1,500,000 was received as a bonus, $0 was received in stock options, $31,282,077 was awarded as stock and $55,782 came from other types of compensation. Plan, the participant must generally remain employed and in good standing with the Company through the date of payment. Jonathan is an entrepreneur and the founder and CEO of AppHarvest (@appharvest), a company that is helping to turn his dream of a high-tech farming hub in Appalachia into reality. It has filed motions to dismiss the shareholder suits. Bitte helfen Sie uns, Glassdoor zu schtzen, indem Sie besttigen, dass Sie In its Nov. 7 filing, AppHarvest reported net losses of $83 million for the first nine months of the year and net sales of $10 million, with an accumulated deficit of $270 million. scaling up the Morehead facility to 400 employees. Heres some tips to shelter at home and stay safe, Lexington doctor took part in Medicare fraud of more than $28 million, indictment says, Kentucky man who died at W. Va. coal mine was thrown from bulldozer as it rolled. First Amendment: Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances. . Kentucky and West Virginia once helped power America with low-cost coal. 2024 is gonna look a lot different than 2022, the CEO said. That includes businesswoman and celebrity Martha Stewart, who Webb said hasjoined the company board of directors. Yes, we had a challenge of hiring 400 people and training them and hitting the yield, not only the yield, but the quality, Webb said. Snapshot Industry Manufacturing & Automotive Market Cap $64 million Net Income. CHECK AVAILABILITY AT A GLANCE VIDEOS BIOGRAPHY TOPICS RELATED CHECK AVAILABILITY Jonathan Webb BROWSE Jonathan Webb. 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. "We're collecting data all through the . All proxy statements are public filings made available to the general public by the SEC. PU. the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. If you continue to see this AppHarvest has rounded up $120 million in venture capital, including cash from AOL co-founder Steve Case's Rise of the Rest fund. message, contactez-nous l'adresse AppHarvest's flagship 60-acre indoor farm in Morehead, Ky., produces non-GMO sustainably grown tomatoes that are available in more than 1,000 top national grocery stores and food service outlets. Inside, you'll find row after row of tomatoes. AppHarvest, Inc. (Exact name of registrant as specified in its charter) Delaware . To allow for equitable access to all users, SEC reserves the right to limit requests originating from undeclared automated tools. Act of 1934 (240.12b-2 of this chapter). The unveilingwas the culmination of months of discussions, includingtravel to the Netherlands by U.S. Agriculture Secretary Sonny Perdue, before coronavirus outbreaksarrived in Europe and this country. AppHarvest also invested $5 million in Red Sea Farms, an AgTech company based in the Middle East for sustainable farming in water-scarce areas by using saltwater for both growing and cooling. This report is not for commercial use. 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. questo messaggio, invia un'email all'indirizzo You may also find the annual proxy statement by going directly to the company's website. The cars are really going to be driving by the end of 23 going into 24. The data presented on this page does not represent the view of AppHarvest and its employees or that of Zippia. One analyst described the report as well below expectations. The companys stock price plunged. By using this site, you are agreeing to security monitoring and auditing. 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. 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. How much do AppHarvest employees make? Disculpa She replaced COO Marcella Butler, who was demoted in April 2021 after five months and terminated four months later. 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.. Another grower, Kentucky Fresh Harvest, is working on 30-acre greenhouse development in Stanford. AppHarvest has 78 employees, of which 30 are in a leadership position. Here are a few more takeaways from Webb's session: An . You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. 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. AppHarvest raised its revenue outlook range for fiscal year 2021 on February 25, 2021, versus expectations prior to the start of harvesting. Webb attributed the quality problems to scaling up the Morehead facility to 400 employees. 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. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. 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.. an. AppHarvest's farms are designed to grow non-GMO produce using . AppHarvest discloses substantial doubt about its future, Southern Kentucky Health & Family Magazine, Braiden Myers signs with the University of Kentucky, Potential severe weather forces postponement of, Pulaski County overcomes slow start, takes down, Jaclyn Davis signs with the University of the C. 65% of the management team is White. Executive Assistant. Prior to her current role at AppHarvest, Emily was a Human Resources Manager at Luckett & Farley and an HR Business Partner at CHI Saint Joseph Health. Facility Coordinator. Posted in Press Releases. In order to receive an award under the Cash Incentive Insurance. AppHarvests farms are designed to grow produce using sunshine, rainwater and up to 90% less water than open-field growing, all while producing yields up to 30 times that of traditional agriculture and preventing pollution from agricultural runoff. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Money went to 30 non-profits, about hundred small businesses, and 200 farmers. Location. Webb said the company has ample funds for the construction of future farms. AppHarvest's stock is currently trading around $4.15 per share, as of 2:30 p.m. Friday, up roughly 10% from when the market opened. $357,640 per year. How has Jonathan Webb's remuneration changed compared to AppHarvest's earnings? 02/24. excuses voor het ongemak. by the Committee from time to time. Low 34F. 1001 and 1030). Before founding AppHarvest, Jonathan worked with the U.S. Department of Defense on one . Vance, although Vance quit as he became more controversial during his Republican campaign for the U.S. Senate in Ohio. Its a technical formula, Eggleton said. Sign up now to get our FREE breaking news coverage delivered right to your inbox. Webb said they are still on track to open 12 mega-greenhouse facilities by 2025. For more information, please see the SECs Web Site Privacy and Security Policy. The country wasravaged and starved by food shortages after World War II, and it's spent decades engineering its own sustainable food supply. But AppHarvest actually has built farms, hired people and started to deliver produce to market, Webb said. You look at the average US consumer, 50% or more of people going to the grocery store don't have the luxury to spend more for a premium product. 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. AppHarvest board member Martha Stewart teaching AppHarvest Founder & CEO Jonathan Webb her No-Knife Pasta recipe using fresh AppHarvest tomatoes grown in the company's 60-acre high-tech farm in Morehead, Ky. AppHarvest is now commercially shipping tomatoes from its third harvest season to top national grocers, food service outlets and restaurants through its distributor, Mastronardi Produce. AppHarvest's farms are designed to grow non-GMO, harsh chemical pesticide-free produce using sunshine, 100% recycled . But it launched on an ambitious scale in a region of Kentucky that sorely needed new jobs, Quarles said.
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