[8-K] Local Bounti Corporation/DE Reports Material Event
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Local Bounti Corporation reported that its Chief Commercial Officer, Dane Almassy, ended his employment with the company effective May 14, 2026, which is defined as the Separation Date. Under his employment agreement dated July 15, 2025, he is entitled to receive salary and other benefits accrued through that date. If he signs a general release of claims within the 21-day consideration period and complies with applicable restrictive covenants, he will receive continued salary payments and COBRA reimbursement payments for six months following the Separation Date. The company attached the form of the separation and release agreement as an exhibit.
Positive
- None.
Negative
- None.
8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Washington, D.C. 20549
FORM 8-K
______________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 14, 2026
LOCAL BOUNTI CORPORATION
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (IRS Employer Identification No.) | |||||||||
(Address of principal executive offices, including zip code) | |||||||||||
Registrant’s telephone number, including area code: (800 ) 640-4016
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On May 14, 2026, Local Bounti Corporation (the “Company”) notified Dane Almassy, the Company’s Chief Commercial Officer, that his employment with the Company ended effective May 14, 2026 (the “Separation Date”). The Company presented Mr. Almassy with a separation agreement with the severance benefits specified in his employment agreement dated July 15, 2025, and a general release of claims, which he has 21 days to accept, if at all. Under his employment agreement, Mr. Almassy is entitled to receive his salary and other benefits accrued through the Separation Date and, subject to Mr. Almassy executing the general release of claims and adhering to the applicable restrictive covenants (other than with respect to accrued benefits), Mr. Almassy will be entitled to continuing salary payments and COBRA reimbursement payments for a period of six months following the Separation Date. The form of separation agreement presented to Mr. Almassy is attached hereto as Exhibit 10.1.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
(d) Exhibits.
Exhibit No. | Description | ||||
10.1 | Form of Separation and Release Agreement | ||||
104 | Cover Page Interactive Data File (formatted as inline XBRL) | ||||
SIGNATURE
Pursuant to the requirements of the Exchange Act, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Local Bounti Corporation | |||||
/s/ Kathleen Valiasek | |||||
Name: Kathleen Valiasek | |||||
Title: President and Chief Executive Officer | |||||
Date: May 15, 2026