UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On July 12, 2021, Hydrofarm Holdings Group, Inc. (the “Company”) appointed Mr. Joseph Rumley, 62, as the Company’s Chief Accounting Officer, effective as of the same date. Mr. Rumley will serve as the Company’s principal accounting officer and will report to the Company’s Chief Financial Officer, B. John Lindeman.
Prior to joining the Company, Mr. Rumley served as the Chief Financial Officer of West Coast Berry Farms LLC since January 2018. Mr. Rumley previously served as the Chief Financial Officer and Principal Accounting Officer of Limoneira Company (Nasdaq: LMNR) from June 2010 until January 2018. Mr. Rumley has 20 years of public accounting experience, including serving an audit partner at Grant Thornton, LLP and McGladrey & Pullen, LLP. Mr. Rumley received a Bachelor of Science in Accounting from California State University Northridge and a Master of Business Administration from Pepperdine University. He is a California Certified Public Accountant.
Mr. Rumley’s annual base salary is $300,000, and he is eligible for an annual performance bonus of up to fifty percent (50%) of his annual base salary and other benefits customarily available to the Company’s employees, including an award of restricted stock units valued at $425,000 under the Company’s 2020 Employee, Director and Consultant Equity Incentive Plan.
Mr. Rumley has no family relationships with any of the Company’s directors or executive officers. There are no related party transactions between the Company and Mr. Rumley in excess of $120,000.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Hydrofarm Holdings Group, Inc. | |||
| Date: July 13, 2021 | By: | /s/ William Toler | |
| Name: | William Toler | ||
| Title: | Chief Executive Officer | ||