Craig Hurlbert is the current CEO of Local Bounti, a company focused on sustainable agriculture and innovative food production. He took on this role in December 2023 after previously serving as Co-CEO. Hurlbert has a solid background in strategic planning...

Craig Hurlbert is the current CEO of Local Bounti, a company focused on sustainable agriculture and innovative food production. He took on this role in December 2023 after previously serving as Co-CEO. Hurlbert has a solid background in strategic planning and leadership, with experience that ranges from founding growth equity companies to leading major projects at General Electric. Notably, instead of taking a bigger salary or stock options, he chose to keep his compensation modest at around $58,173 in 2023 to show commitment to his employees during tough times. Interestingly, Hurlbert's wealth fluctuated dramatically, reaching $162.4 million in late 2021 but dropping significantly by late 2023 as he focused more on building the company for the long haul. This decision underscores his long-term vision for Local Bounti and the agricultural sector. His educational background includes a degree in finance, which pairs nicely with his practical experience in various leadership roles. Hurlbert is known for prioritizing employee interests, which is an important aspect of his leadership style.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Local Bounti CEOs

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Craig Hurlbert

CEO of Local Bounti

Education

Bachelor's degree in a relevant field

Field of Expertise

Business & Management

Sector of Economy

Consumer Defensive

Born

January 1, 1973 - 52 years ago

CEO of Local Bounti for

1 year 5 months (Dec 2023 - Present)

Previous Experience

Co-CEO and Chairman of Local Bounti Corporation; experience in strategic roles

Rivals

Competitors/colleagues of Craig Hurlbert

Holdings

See how much did Craig Hurlbert make over time.

Craig Hurlbert's holdings have gone through significant changes since he became deeply involved with Local Bounti. At his peak in November 2021, his holdings were valued at around $162.4 million. However, by November 2023, this value dropped to just $18.37...

Craig Hurlbert's holdings have gone through significant changes since he became deeply involved with Local Bounti. At his peak in November 2021, his holdings were valued at around $162.4 million. However, by November 2023, this value dropped to just $18.37 million. This major decline reflects his choice to prioritize organizational stability over personal wealth, as he did not take new stock or options to reinforce this commitment. These fluctuations illustrate not just market dynamics but also his strategic decisions regarding the company's future. As he leads Local Bounti, Hurlbert remains focused on building long-term value in a challenging economic environment.

Total Stock Sold

$4.38M

LOCL

$4.38M

6,492.769 LOCL shares

What if they kept their stock?

If Craig Hurlbert didn't sell their stock, today they would have:
Extra LOCL6,492.769 shares worth $835.62K.
This is -80.91% and $3.54M less than what they got when they sold the stock.

Charitable Transactions

LOCL

253,846.154 shares

LOCL

Recent Charitable Transactions

LOCL

3,300,000 shares

LOCL

Dec 22, 2022

Charity

Insider Trading

See recent insider trades of Craig Hurlbert.

LOCL

120,000 shares

LOCL

Apr 25, 2024

Received

LOCL

$142.87K

LOCL at $1.35/share

Oct 31, 2023

Purchase

LOCL

3,300,000 shares

LOCL

Dec 22, 2022

Charity

LOCL

$100.00K

LOCL at $2.50/share

Oct 21, 2022

Received

LOCL

$221.72K

LOCL at $4.01/share

Aug 25, 2022

Sale

LOCL

$92.89K

LOCL at $4.00/share

Aug 22, 2022

Sale

LOCL

$17.83K

LOCL at $4.00/share

Jul 20, 2022

Sale

LOCL

$5.76K

LOCL at $4.04/share

Jul 15, 2022

Sale

LOCL

2,000,000 shares

LOCL

Jan 24, 2022

Received

LOCL

$765.79K

LOCL at $6.83/share

Dec 2, 2021

Purchase

Compensation History

See how much did Craig Hurlbert make over time.

In 2023, Craig Hurlbert earned $58,173 as the CEO of Local Bounti. His salary is notably lower than what might be expected for a CEO of a growing food production company. He chose not to accept a bonus or stock awards, which shows his desire to align with the broader team during hard times. Instead, his compensation mainly reflects his salary and a modest 401(k) contribution. This compensation approach underlines his priority of focusing on the company's core mission rather than personal financial gain. Hurlbert's strategy emphasizes long-term development and employee alignment, which are essential for Local Bounti’s success. His compensation choice makes a statement about his leadership style: he wants to build a team-oriented culture while ensuring that the company remains resilient.

Year

2023

Total Compensation

$58.17K

Salary

$56.42K

Board Justification

The compensation philosophy emphasizes alignment with employee interests and long-term stockholder value, with a focus on retaining key executives while ensuring competitive compensation.

Bonus

$0.00

Board Justification

No bonus was awarded in 2023.

Other

$1.75K

Board Justification

This amount represents Local Bounti 401(k) contributions for Mr. Hurlbert.

Restricted Stock

$0.00(0 N/A)

Board Justification

No stock awards were granted to Mr. Hurlbert in 2023 as he requested not to receive any to reinforce his commitment to employees.

Performance Metrics

The performance metrics for determining compensation in 2023 were not specified in the provided information.

Other Local Bounti CEOs

Here are other CEOs of Local Bounti

Anna Fabrega

Ex-CEO of Local Bounti

June 2023 - December 2023