Local Bounti chair granted 75,000 RSUs
Local Bounti Corporation Executive Chairman Craig M. Hurlbert reported a compensation-related equity award and updated share holdings.
Rhea-AI Filing Summary
Local Bounti Corporation Executive Chairman Craig M. Hurlbert reported a compensation-related equity award and updated share holdings. He received 75,000 shares of Common Stock in the form of RSUs at $0.00 per share, classified as a grant or award acquisition. These RSUs vest in three equal installments on November 1, 2026, November 1, 2027, and November 1, 2028, conditioned on his continued service. After this award, he directly holds 889,803 shares of Common Stock and has an indirect position of 1,177,386 shares held by Wheat Wind Farms, LLC, where he serves as Member-Manager with sole voting and dispositive power, while disclaiming beneficial ownership except to the extent of his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 75,000 shares
Grant/Award
2 txns
Insider
Hurlbert Craig M.
Role
Executive Chairman
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 75,000 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 889,803 shares (Direct);
Common Stock — 1,177,386 shares (Indirect, By Wheat Wind Farms, LLC)
Footnotes (2)
- F1. The RSUs will vest in three equal installments on November 1, 2026, November 1, 2027, and November 1, 2028, subject to the continuous service of the Reporting Person on each vesting date.
- F2. These shares are held by Wheat Wind Farms, LLC ("Wheat Wind"). The Reporting Person serves as Member-Manager of Wheat Wind and as such, has sole voting and dispositive power with respect to the shares held by Wheat Wind and may be deemed to beneficially own the shares held by Wheat Wind. The Reporting Person disclaims beneficial ownership of such shares and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such shares for purposes of Section 16 or for any other purpose, except to the extent of his pecuniary interest therein.
Key Figures
RSU grant size: 75,000 shares
Grant price: $0.00 per share
Direct holdings after grant: 889,803 shares
+4 more
7 metrics
RSU grant size
75,000 shares
Grant/award acquisition of Common Stock RSUs
Grant price
$0.00 per share
Price per share for RSU grant
Direct holdings after grant
889,803 shares
Common Stock directly held after transaction
Indirect holdings via Wheat Wind
1,177,386 shares
Common Stock held by Wheat Wind Farms, LLC
First vesting date
November 1, 2026
First third of RSUs vest
Second vesting date
November 1, 2027
Second third of RSUs vest
Final vesting date
November 1, 2028
Final third of RSUs vest
Key Terms
RSUs, beneficially own, pecuniary interest, Section 16, +1 more
5 terms
RSUs financial
"The RSUs will vest in three equal installments on November 1, 2026"
RSUs, or restricted stock units, are a form of company shares given to employees as part of their compensation. They are typically awarded with certain restrictions, such as a waiting period before they can be fully owned or sold, similar to earning a gift that becomes fully yours over time. For investors, RSUs can impact a company's stock offerings and reflect how much the company relies on stock-based incentives to attract and retain talent.
beneficially own financial
"may be deemed to beneficially own the shares held by Wheat Wind"
Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.
pecuniary interest financial
"except to the extent of his pecuniary interest therein"
Section 16 regulatory
"beneficial owner of such shares for purposes of Section 16"
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
voting and dispositive power financial
"has sole voting and dispositive power with respect to the shares"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Local Bounti (LOCL) report for Craig M. Hurlbert?
Local Bounti reported that Executive Chairman Craig M. Hurlbert received a grant of 75,000 shares of Common Stock in the form of restricted stock units (RSUs) at $0.00 per share. The filing also updates his direct and indirect Common Stock holdings following this award.
What is the vesting schedule for Craig M. Hurlbert’s 75,000 Local Bounti RSUs?
The 75,000 RSUs granted to Craig M. Hurlbert vest in three equal installments. One-third vests on November 1, 2026, another third on November 1, 2027, and the final third on November 1, 2028, provided he remains in continuous service on each vesting date.
What is Wheat Wind Farms, LLC’s role in Craig M. Hurlbert’s Local Bounti holdings?
Wheat Wind Farms, LLC holds 1,177,386 Local Bounti Common Stock shares indirectly attributed to Craig M. Hurlbert. He is Wheat Wind’s Member-Manager with sole voting and dispositive power, yet he disclaims beneficial ownership except for his pecuniary interest, as described in the filing’s footnote.
AI-generated analysis. How Rhea-AI works. Not financial advice.
