Kentucky native and University of Kentucky graduate Jonathan Webb is turning his dream of a high-tech farming hub in Appalachia into reality with AppHarvest. The information shown here is a reporting of information included in the company's proxy statement. POLL QUESTION: Which team will win the Boys Basketball 12th Region Tournament? Departing the companys executive offices this month are President David Lee, formerly of Impossible Foods, and Chief Operating Officer Julie Nelson, formerly of PepsiCo. LOUISVILLE, Ky. AppHarvest, a startup already building North America's largest greenhouse in Rowan County, announced it's partneringwith the Dutch government, the state of Kentuckyand several universities and private companies to create an agricultural technology capital in Appalachia. CEO Jonathan Webb explained how it grew from a $250,000 seed round to a public company in three years. Ci CHECK AVAILABILITY AT A GLANCE VIDEOS BIOGRAPHY TOPICS RELATED CHECK AVAILABILITY Jonathan Webb BROWSE Jonathan Webb is Chairman/CEO/Founder at AppHarvest Inc. See Jonathan Webb's compensation, career history, education, & memberships. 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. In one motion, it calls the litigation a textbook example of plaintiffs attorneys alleging fraud-by-hindsight under securities law because a company is losing money, not because there is actual evidence of fraud. 02/21. under the Cash Incentive Plan. Item 5.02 Departure of Directors or Certain AppHarvest announced it has hired Julie Nelson, with experience at PepsiCo and McKinsey, to help support operational growth, and Adam Reel, who has worked at Apple and other controlled-environment agriculture start-ups. But AppHarvest actually has built farms, hired people and started to deliver produce to market, Webb said. Company leadership on the call said the profits from selling tomatoes from the flagship Morehead greenhouse were lower because the prices of tomatoes hit a 10-year low in May and the quality of the tomatoes was lacking. Support strong local journalism by subscribing today: courier-journal.com/graces. Facility Coordinator. Sylvan Park 4101 Charlotte Avenue, Suite E140 Nashville Tenn. 37209 The nation, which is roughly a third the land mass of Kentucky, has a network of 10,000 companies tied to its greenhouses. Mr. Jonathan Webb is Founder and Chief Executive Officer at AppHarvest, Inc since January 2018 and is its Chairman of the Board. AppHarvest Founder and CEO Jonathan Webb speaks during groundbreaking for the new facility located in Shopville, on June 21, 2021. Travis joined AppHarvest in 2020 after serving in global communications roles in Paris, Tokyo, and Nashville with the Renault-Nissan-Mitsubishi Alliance most recently as Vice President for Nissan Americas and President of the Nissan Foundation. But that will change shortly, Webb said. AppHarvest acquired Root AI, an agricultural robotics and artificial intelligence company that helps manage high-tech indoor farms, in April to collect data while harvesting. EPS of -$0.30 beats by $0.01 | Revenue of $5.16M (124.62% Y/Y) misses by $236.00K AppHarvest, Inc. ( NASDAQ: APPH) Q1 2022 Earnings Conference Call May 3, 2022 4:30 PM ET Company Participants. selling tomatoes from the flagship Morehead greenhouse. Please declare your traffic by updating your user agent to include company specific information. By JEFF McMURRAY How has Jonathan Webb's remuneration changed compared to AppHarvest's earnings? Administrative Assistance. Job Title. AppHarvest's mission statement is "We're building a sustainable, homegrown food supply that's accessible to all, all year long.". 65% of the management team is White. Plan) which will govern the terms of annual cash incentive awards granted to eligible employees of the Company, as determined 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. AppHarvest, Inc. (Exact name of registrant as specified in its charter) Delaware . Si continas viendo este mensaje, The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. In May 2019, AppHarvest closed an $82 million deal with Equilibrium Capital to build its first greenhouse. Appharvest has nearly 700 workers as of this month, he said. By using this site, you are agreeing to security monitoring and auditing. . AppHarvest isn't the only company diving into greenhouses, and trying to captureto the Eastern Seaboard. To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. of the Cash Incentive Plan is not complete and is subject to and qualified in its entirety by reference to the Cash Incentive Plan, a Jonathan Webb is the Founder & CEO at AppHarvest. [5] If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. AppHarvest Inc (NASDAQ:APPH) . AppHarvest ( APPH) CEO Jonathan Webb said the company has its eyes on the long term as it looks to "institutionalize" controlled environment agriculture (CEA). AppHarvest, Inc. is an American food production company developing and operating indoor farms in Appalachia. Bitte helfen Sie uns, Glassdoor zu schtzen, indem Sie besttigen, dass Sie Net sales from 8.6 million pounds of tomatoes were $3.1 million, an increase of $800,000 from this year's first quarter. At Windset, he supported both significant infrastructure and revenue growth. If the companys stock trades below $1 for more than 30 consecutive days, it can be dropped from the NASDAQ. So yeah, were actively having conversations with CEOs, with investors, with partners, with anyone who wants to partner with us here in Kentucky and to help make our mission succeed.. The Kentucky-based company went public in February, joining Nasdaq at APPH. AppHarvest CEO Jonathan Webb joins Yahoo Finance Live to discuss scaling controlled environment agriculture infrastructure, keeping produce prices low, and the future of farming as climate change . This Employment Agreement (the "Agreement") is entered into as of the 11th day of December, 2020, by and between Jonathan Webb (the "Employee") and AppHarvest, Inc. (the "Company").. 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. AppHarvest's farms are designed to grow non-GMO produce using . What to know, Are you prepared for a tornado? Its also removing two top executives as part of a restructuring that will cost up to $7 million in severance payments. It has filed motions to dismiss the shareholder suits. . She replaced COO Marcella Butler, who was demoted in April 2021 after five months and terminated four months later. [3][4], 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. How much do AppHarvest Administrative Assistance jobs pay? Based on our data team's research, Jonathan Webb is the AppHarvest's CEO. Two private companies also have launched large indoor grow operations in Ohio. United States. Best Internet Companies to Work For in Kentucky, Best Companies to Work For in Morehead, KY, AppHarvest Industrial Maintenance Technician Jobs. On March 23, 2021, the Compensation Help ons Glassdoor te beschermen door te verifiren of u een persoon bent. It's about finding the next way to not just grow food, but to grow food in a sustainable way.". Lee, who will keep a seat on the AppHarvest board of directors, lasted less than two years in his job. Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity. The company disclosed a $32 million net loss and dramatically cut projected earnings for the year. Sometimes the pieces just dont fit together as were building a team. Help us make this company more transparent. para nos informar sobre o problema. Webb, a Kentucky native and University of Kentucky graduate, says he remains committed to his goal of employing large numbers of people at high-tech farms around the eastern half of the state. Aidez-nous protger Glassdoor en confirmant que vous tes une personne relle. , except that Jonathan Webb, the Company's Chief Executive Officer, is not eligible to participate for the 2021 performance period. Winds approaching hurricane force are blowing across Kentucky. Thats right 70% of the U.S. population is within a days drive, which means our produce can be picked riper and delivered to stores near you within a day. Marketing. amounts will be payable in equal quarterly installments in arrears following the end of each fiscal quarter in which the service occurs, Each eligible employee will be assigned an individual incentive 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. Those are set to be completed by mid-2022. Executive Assistant. However, reality has proven far less bullish. Sorry, there are no recent results for popular videos. AppHarvest's farms are designed to grow non-GMO, harsh chemical pesticide-free produce using sunshine, 100% recycled . Absent additional sources of financing, we expect that our existing cash and cash equivalents will only allow us to continue our planned operations into the first quarter of 2023, the company said. 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. Associated Press. At least 4 deaths; power outages climb. He's not letting it distract from realities on the ground, in the eastern Kentucky mountains. AppHarvest is a sustainable food company in Appalachia developing and operating some of the worlds largest high-tech indoor farms with robotics and artificial intelligence to build a reliable, climate-resilient food system. Net losses also will be worse than originally forecast, the company says. to Section 13(a) of the Exchange Act. One salary reported. envie um e-mail para Two greenhouses in Berea and Richmond are more than 30 percent constructed. Zippia gives an in-depth look into the details of AppHarvest, including salaries, political affiliations, employee data, and more, in order to inform job seekers about AppHarvest. The investment pool focuses on promising technology and new. para informarnos de que tienes problemas. The suits cite the eyewitness accounts of six unnamed confidential witnesses who allegedly held different jobs inside AppHarvest during 2021. Sorry, there are no recent results for popular commented articles. Vance, although Vance quit as he became more controversial during his Republican campaign for the U.S. Senate in Ohio. We're building a sustainable, homegrown food supply that's accessible to all, all year long. 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. On today's show, AppHarvest Founder & CEO Jonathan Webb talks about AgTech (agriculture tech), the third wave of sustainable infrastructure. to simultaneously satisfy the filing obligations of the registrant under any of the following provisions: Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant is an emerging growth Please help us protect Glassdoor by verifying that you're a Drawing inspiration from a National Geographic article he read on sustainable indoor farming in the Netherlands, Webb traveled with friends to Holland in 2015 to see the farms for himself. $357,640 per year. APPHARVEST INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. The anticipated 285 jobs will range from a head grower who makes a "doctor's salary," to mid-level water technicians and less skilled entry-level employees who would earn a $13 minimum wage, with health insurance benefits and incentives for pay of up to $16 to $17 an hour, Webb said. Jonathan Webb, CEO, AppHarvest: AgTech Farming for Our Planet's Future Outside In with Charles Trevail Business Amid the verdant rolling hills of central Kentucky, in the heart of Appalachian coal country, you'll find 60 acres of a massive, glass-encased structure. Lamentamos Before founding AppHarvest, Jonathan worked with the U.S. Department of Defense on one . It would have been evident to the ordinary investor that AppHarvest would encounter problems with labor and tomato quality and yield.. Wenn ", "AppHarvest recorded a $166 million loss in 2021. Beshear told reporters in Frankfort that he's excited about the infusion ofscience and tech know-how. As at APPHARVEST INC, made $0 in total compensation. David Lee, as well as the AppHarvest CEO and Founder Jonathan Webb on the show in prior, I believe prior . If the company can get cash in hand from the sale of its Berea farm, AppHarvest should be able to remove the alarming substantial doubt language from future investor disclosures, said chief financial officer Loren Eggleton. If you continue to see this Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. March 23, 2021, (Exact name of registrant as specified in its AppHarvest raised its revenue outlook range for fiscal year 2021 on February 25, 2021, versus expectations prior to the start of harvesting. AppHarvest has generated much positive news coverage for itself since incorporating in 2018. How much do AppHarvest Marketing jobs pay? For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. Exchange Act of 1934, Date of Report (Date of earliest event reported): Zippia's Best Places to Work lists provide unbiased, data-based evaluations of companies. Over the last four quarters, AppHarvest's revenue has decreased by 82.9%. We cannot build and grow fast enough to meet market demand, CEO Jonathan Webb said at the time. For more information, contact opendata@sec.gov. AppHarvest is redefining American agriculture by developing modern, large-scale and efficient indoor farms in Central Appalachia, a water-rich region strategically located within a day's drive of approximately 70% of the U.S . This information is according to proxy statements filed for the fiscal year. Money went to 30 non-profits, about hundred small businesses, and 200 farmers. 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. If youre asking today, were going to focus on saying, lets get these four farms up and running in 2023, and month by month in 2023, well continue to evaluate options to expand the business, Webb said. AppHarvest Founder and CEO Jonathan Webb, a solar industry veteran, knew he had to do something to help his hometown community. scusiamo se questo pu causarti degli inconvenienti. positions our company to be a global leader in this industry," said Jonathan Webb, founder and CEO of AppHarvest. Winds light and variable. The winners in each of the 13 categories, plus additional honors, will be awarded at the 24th annual SXSW Innovation Awards on Monday, March 14, 2022. AppHarvest has rounded up $120 million in venture capital, including cash from AOL co-founder Steve Case's Rise of the Rest fund. Location. Nelson lasted 15 months. AppHarvest closed its $1 billion SPAC deal and began trading as a public company Monday. Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. AppHarvest Quarterly and Annual Revenue Trailing 12-Months Trend (TTM) Annual Revenue $13.1M AppHarvest's revenue is the ranked 8th among it's top 10 competitors. Insiders are officers, directors, or significant investors in a company. AppHarvest says it never misled anyone. 1001 and 1030). "What we're doing here has really caught the attention of people around the world.". Its unfortunate, said Jonathan Webb, AppHarvests founder and chief executive officer, in an interview with the Herald-Leader. It's set to open 3 farms this year", "This state-of-the-art indoor farm is transforming Appalachia into an agricultural powerhouse", "AppHarvest to go public via merger with blank-check firm", "Appharvest locations in Madison County Nearly Complete and Soon Ready to Deliver Fresh Foods", https://en.wikipedia.org/w/index.php?title=Appharvest&oldid=1135959955, This page was last edited on 27 January 2023, at 22:52. The Committee (or its delegate) will administer the Cash Incentive Plan and will have the authority to determine all of the awards granted The employee data is based on information from people who have self-reported their past or current employments at AppHarvest. Common benefits at AppHarvest. Share prices nosedived from more than $30 in February 2021, when the company went public on the NASDAQ exchange, to about $1.20 this week. enviando un correo electrnico a When Webb gave optimistic interviews, such as describing the good, healthy, consistent supply of tomatoes, that was not fraud by any legal definition, the company said. All proxy statements are public filings made available to the general public by the SEC. 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. Any cash incentive awards that become payable under the Cash Incentive Plan will generally be paid no copy of which is attached hereto as Exhibit 10.2 and is incorporated herein by reference. Inside is a tightly controlled environment that uses 90% less water than open-field agriculture and only rainwater to produce crop yields up to 30 times that of traditional farming. After years of study and gathering support from inside and outside the region, Jonathan is turning his dream of a high-tech farming hub in Appalachia into reality. Administrative Assistance. The foregoing description Plan, the participant must generally remain employed and in good standing with the Company through the date of payment. $20.64 per hour. Company Overview. scaling up the Morehead facility to 400 employees. Gov. "We see this as a couple-decade. for a cash incentive award determined based on the achievement of specified annual Company performance goals, which include net revenue, Insider Sales APPH / Appharvest Inc - Short Term Loss Analysis. The combined company will be led by Jonathan Webb, AppHarvest's Founder & Chief Executive Officer. This United States corporation or company article is a stub. Celebrities on the board of directors included lifestyle entrepreneur Martha Stewart and investor and Hillbilly Elegy author J.D. That know-how is expected to spark a collaboration between the companies, as well as two Dutch-based higher-ed institutions and five in Kentucky Morehead State University, Berea College and Eastern Kentucky University, University of Kentucky and University of Pikeville, which has discussed a certificate program forstudents seeking careers in the industry. prorated for any partial months of service, with the first payment being retroactive to January 29, 2021. The company blames supply chain-related delays in opening three new farms. verdade. Director Compensation Policy, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference. The farms grow tomatoes, leafy greens for salads and berries. an. 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. charter), Registrants telephone number, including 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.. Winds light and variable.. A clear sky. The company has cumulatively spent at least $641 million for operations and fixed assets since 2018, when it incorporated, according to public filings. Founder and CEO Jonathan Webb said AppHarvest aimed to grow high quality tomatoes that have great value, but were only able to produce high amounts of lower quality tomatoes that have little to no value, which directly affects their bottom line. Here are a few more takeaways from Webb's session: An . AppHarvest sold 8.6 million pounds of tomatoes in the second quarter, an increase of 4.8 million pounds from the first quarter. Onze 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. How much do AppHarvest employees make? Aiutaci a proteggere Glassdoor dimostrando che sei una persona reale. Kentuckys agriculture commissioner, Ryan Quarles, said AppHarvest is not the only company in the state to use controlled environment agriculture, or CEA, based on ideas pioneered in the Netherlands. AppHarvest has rounded up $120 million in venture capital, including cash from AOL co-founder Steve Case's Rise of the Rest fund. People in Eastern Kentucky are understandably skeptical about companies that come into the region and make promises about jobs, Webb said. Popular Jobs. This report is not for commercial use. Groups of shareholders including a public pension fund in Plymouth, Mass. One salary reported. In the suits, shareholders say that AppHarvest executives misled investors and regulators with the U.S. Securities and Exchange Commission to make it appear they were better prepared for the companys launch than they really were. Jonathan Webb's Post Jonathan Webb CEO at AppHarvest 1y "We're collecting data all through the . employee will be assigned an individual incentive target expressed as a percentage of the employee's annual base salary . Webb also announced plans for selling tomato-based products like salsa and Bloody Mary mix next year. Committee may modify and/or adjust the performance goals or the related level of achievement, in whole or in part, as it deems To allow for equitable access to all users, SEC reserves the right to limit requests originating from undeclared automated tools. 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.