Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) OnMarch 26, 2020 , in response to the potential effect of the COVID-19 pandemic on revenue, the Board of Directors (the "Board") ofFarmer Bros. Co. (the "Company") approved the implementation of a 15-percent salary reduction for all of the Company's named executive officers, startingApril 1, 2020 . The salary reduction will be reviewed periodically for reinstatement. In addition, the Board approved that it will forego its quarterly compensation payable inApril 2020 . Item 7.01. Regulation FD Disclosure. OnMarch 30, 2020 , the Company issued a press release announcing the executive and Board compensation adjustment, which is being furnished herewith as Exhibit 99.1. As provided in General Instruction B.2. of Form 8-K, the information and exhibit furnished pursuant to Item 7.01 of this report are being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section, shall not be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, regardless of any general incorporation language in such filing. In addition, the exhibit furnished herewith contains statements intended as "forward-looking statements" that are subject to the cautionary statements about forward-looking statements set forth in such exhibit. Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press release datedMarch 30, 2020 .
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