2 unchanged sentences
Every day, we aim to raise the standards in the food industry and disrupt industrial, factory food norms.
−Removed: Our eggs and butter are sourced through a distributed supply chain of small farms that uphold our high animal welfare standards and produce an exceptional product.
+Added: Our eggs and butter are sourced through a distributed supply chain of small farms that uphold our high animal welfare standards and produce exceptional products.
We believe this approach creates a more resilient business that has enabled us to continue growing through a dynamic chapter in our industry.
2 unchanged sentences
We are committed to Conscious Capitalism, which prioritizes positive, long-term outcomes for all of our stakeholders – farmers and suppliers, customers and consumers, communities and the environment, employees, who we refer to as crew members, and stockholders.
+Added: Vital Farms was founded in 2007 on a 27-acre plot of land in Austin, Texas.
+Added: Starting with a small flock of hens, we maintained a strong belief that a varied diet and better animal welfare practices would lead to superior eggs.
+Added: Our first sales came from farmers markets and restaurants around Austin and, less than a year later, our eggs were discovered by Whole Foods Market, Inc., or Whole Foods.
+Added: From the beginning, we sought to not simply sell eggs to a few stores, but to build a sustainable company that aligned with the family farming community and was able to profitably deliver quality products to a devoted consumer base.
Our approach has been validated by our financial performance and our impact on the food industry.
3 unchanged sentences
Farmers and Suppliers
−Removed: Forming strong relationships with our network of more than 425 family farms, who are the foundation of our resilient and reliable supply chain
+Added: Forming strong relationships with our network of more than 600 small farms, who are the foundation of our resilient and reliable supply chain
Customers and Consumers
−Removed: Delivering the transparency and quality around food products that today’s consumers demand
+Added: Delivering the transparency, authenticity and quality that today’s consumers demand from food products
Empowering our crew members by investing in their financial security, development and overall well-being
3 unchanged sentences
We have built our business through our strong relationships with family farms and deliberate efforts to design and build the infrastructure to bring our products to a national audience.
−Removed: Today, with a network of more than 425 family farms, we believe we have set the national standard for pasture-raised eggs.
−Removed: We continue to innovate to support these family farms – our “accelerator farms” project, launched in 2024, envisions a small number of farms that we own, where we can implement innovative farming practices that we can scale to the family farms in our network.
−Removed: We believe our relationships with family farms, the benefits presented by our planned accelerator farms and the efficiency of our supply chain provide us with a competitive advantage in the consumer packaged goods industry, in which achieving reliable supply at a national scale can be challenging.
−Removed: In 2017, we opened Egg Central Station, a shell egg processing facility in Springfield, Missouri, which is conveniently located within the PASTURE BELT, the U.S.
+Added: Today, with a network of more than 600 small farms, we believe we have set the national standard for pasture-raised eggs.
+Added: We continue to innovate to support these family farms.
+Added: Our “accelerator farms” project, launched in 2024, envisions a small number of farms that we own and operate, where we can implement innovative farming practices that can be scaled to the family farms in our network.
+Added: We began placing birds on accelerator farms in 2025.
+Added: We believe our relationships with our contracted family farms, the benefits presented by our accelerator farms and the efficiency of our supply chain provide us with a competitive advantage in the consumer packaged goods industry, in which achieving reliable supply at a national scale can be challenging.
+Added: In 2017, we opened Egg Central Station, a shell egg processing facility in Springfield, Missouri, which is located within a region we refer to as the PASTURE BELT, the U.S.
region where weather is conducive to hens being outside as much as possible.
In April 2022, we completed an expansion of this facility that nearly doubled its square footage and capacity.
−Removed: Egg Central Station in Missouri is capable of packing six million eggs per day and has achieved Safe Quality Food, or SQF, Excellent rating, the highest level of such certification recognized by the Global Food Safety Initiative, or GFSI.
−Removed: In addition, the facility has received the Safe Quality Food Institute, or SQFI, Select Site certification, indicating that the facility has voluntarily elected to undergo annual unannounced recertification audits by SQFI, the organization responsible for administering a global food safety and quality program known as the SQF Program.
−Removed: The design of our Egg Central Station facility in Missouri includes investments that support our stakeholders, from our crew members (daylighting, climate control and slip resistant floors in the egg grading room), to the community and environment (consulting with the community before we built the facility, restoring native vegetation on the property, water retention and stormwater management measures and the use of solar panels), to our customers and consumers (food safety and maintenance investments far beyond regulatory requirements).
+Added: To help meet the continued demand for our shell eggs, we installed and began operating an additional Moba egg grading system, the primary automation technology used in washing, sorting, and packing shell eggs, at Egg Central Station in 2025.
+Added: Egg Central Station is capable of packing more than 7.5 million eggs per day and has achieved Safe Quality Food, or SQF, Excellent rating, the highest level of such certification recognized by the Global Food Safety Initiative, or GFSI.
+Added: In addition, the facility has received the Safe Quality Food Institute, or SQFI, Select Site certification, indicating that the facility has voluntarily elected to undergo annual unannounced recertification audits by SQFI, the organization responsible for administering the SQF Program.
+Added: The design of our Egg Central Station facility in Missouri includes investments that support our stakeholders, from our crew members (daylighting, climate control and slip resistant floors in the egg grading room), to the community and environment (consultation with the community before we built the facility, restoration of native vegetation on the property, water retention and stormwater management measures and the use of solar panels), to our customers and consumers (food safety and maintenance investments far beyond regulatory requirements).
Our efforts to build a sustainable, stakeholder-focused facility are evidenced by the facility’s 2022 “Green Plant of the Year” award from the industry publication Food Processing , along with LEED Gold certification in 2024.
We believe owning and operating this important element of our supply chain is a key differentiator and provides us with a competitive advantage, which we intend to continue to leverage to grow both our net revenue and gross margin.
−Removed: To help support continued supply and further growth, we announced in 2024 that we plan to build a second egg washing and packing facility in Seymour, Indiana, which we anticipate will be fully operational in 2027.
+Added: In 2025, we began using a new dedicated cold storage and fulfillment center less than one mile from Egg Central Station, operated and owned by our longtime cold storage provider, to improve operational efficiency.
+Added: To help ensure continued supply and support further growth, we are in the process of constructing Vital Crossroads, a second automated egg washing and packing facility with onsite cold storage in Seymour, Indiana, which we anticipate will be fully operational in 2027.
We intend to build upon the foundational key learnings and successes from our Egg Central Station facility in Missouri with this second facility and further expand our already resilient supply chain.
−Removed: To help meet the continued demand for our shell eggs, we announced that we plan to install an additional Moba egg grading system, the primary automation technology used in washing, sorting, and packing shell eggs, at Egg Central Station.
−Removed: Installation of this new system is expected to begin in the first quarter of 2025 and to be fully operational by the end of fiscal 2025.
−Removed: Our loyal and growing consumer base has fueled the continued growth of our brand in the natural and mainstream retail channels and has facilitated our growth within the foodservice channel.
−Removed: As of December 2024, we offered 23 retail stock keeping units, or SKUs, through a multi-channel retail distribution network across approximately 24,000 stores.
−Removed: Our products generate stronger velocities and, we believe, greater profitability per unit for our retail customers in key traffic-generating categories as compared to products offered by our competitors.
+Added: Our loyal and growing consumer base has fueled the continued growth of our brand in the natural and mainstream retail channels and has facilitated our growth in the foodservice channel.
+Added: As of December 2025, we offered 23 retail stock keeping units, or SKUs, through a multi-channel retail distribution network across more than 24,000 stores.
+Added: Our products generate stronger velocities and, we believe, greater profitability per unit for our retail customers in key traffic-generating categories compared to products offered by our competitors.
We believe we have significant room for growth within the retail and foodservice channels, and we believe that we can capture this opportunity by growing brand awareness and through new product innovation.
−Removed: We also believe there are incremental growth opportunities in additional distribution channels, including the convenience, drugstore, club, military and international markets, which we may access along with retail and foodservice growth opportunities to enable us to continue our net revenue growth.
+Added: We also believe there are incremental growth opportunities in additional distribution channels, including the convenience, drugstore and club channels.
+Added: Consumer demand for our high-quality products and our conscious efforts to develop a sustainable supply chain have enabled the continued growth of our brand in the natural and mainstream retail channels through relationships with Albertsons Companies, Inc., or Albertsons, The Kroger Co., or Kroger, Publix Super Markets, Inc., or Publix, Target Corporation, or Target, Walmart Inc., or Walmart, Sprouts Farmers Market, or Sprouts, Whole Foods, and numerous other national and regional food retailers.
Our products resonate with our consumers, who are incredibly loyal to Vital Farms.
4 unchanged sentences
We have increased net revenue from $260.9 million in fiscal 2021 to $759.4 million in fiscal 2025, which represents a 30.6% compounded annual growth rate, or CAGR.
−Removed: Going forward, we believe that consumer movement away from factory farming practices will continue to fuel demand for our products, and in September 2023, we announced updated long-term financial targets reflecting our continued confidence in the potential of our business that we reiterated in November 2024.
+Added: We believe that consumer movement away from factory farming practices will continue to fuel demand for our products, and in September 2023, we announced long-term financial targets for 2027 reflecting our confidence in the potential of our business.
+Added: In December 2025, we announced updated long-term financial targets for 2030, demonstrating our belief that our growth is sustainable over a long-term horizon.
Our management team is committed to ensuring our values remain aligned with those of our consumers while delivering stockholder value.
2 unchanged sentences
Number of Stores
−Removed: Vital Farms was founded in 2007 on a 27-acre plot of land in Austin, Texas.
−Removed: Starting with a small flock of hens, the company maintained a strong belief that a varied diet and better animal welfare practices would lead to superior eggs.
−Removed: Our first sales came from farmers markets and restaurants around Austin and, less than a year later, our eggs were discovered by Whole Foods Market, Inc., or Whole Foods.
−Removed: From the beginning, we sought to not simply sell eggs to a few stores, but to build a sustainable company that aligned with the family farming community and was able to profitably deliver quality products to a devoted consumer base.
−Removed: As our business has continued to grow, our model remains rooted in trust and mutual accountability with our farmers, who are and will remain core to our business.
−Removed: In 2014, our current President and Chief Executive Officer Russell Diez-Canseco joined Vital Farms and led the development of our large and scalable network of family farms.
−Removed: In 2015, recognizing the opportunity to elevate our production process and bolster long-term growth and profitability, we began the design process for our Egg Central Station facility in Springfield, Missouri, which opened in 2017.
−Removed: Today, this facility is capable of packing six million eggs per day and has achieved an SQF Excellent rating, the highest level of such certification from the GFSI.
−Removed: In 2024, we announced plans for a second world-class egg washing and packing facility in Seymour, Indiana, which we anticipate will be fully operational in 2027.
−Removed: Demand for our high-quality products has enabled us to expand our brand beyond the natural channel and into the mainstream channel through relationships with Albertsons Companies, Inc., or Albertsons, The Kroger Co., or Kroger, Publix Super Markets, Inc., or Publix, Target Corporation, or Target, Walmart Inc., or Walmart, and numerous other national and regional food retailers.
−Removed: As of December 2024, our products were sold in approximately 24,000 stores nationwide.
−Removed: Over the course of our journey, our founder Matthew O’Hayer has continued to inform our strategic vision and remains closely involved with our business as the Executive Chairperson of our Board of Directors.
Industry Overview
9 unchanged sentences
According to Circana data, the U.S.
−Removed: pasture-raised retail egg market accounted for approximately $994.4 million in retail sales in 2024 and grew at a CAGR of 34.5% between December 2020 and December 2024, while the specialty egg (including pasture-raised and free-range) market accounted for approximately $8.3 billion in retail sales in 2024 and grew at a CAGR of 21.4% between December 2020 and December 2024.
+Added: pasture-raised retail egg market accounted for approximately $1.3 billion in retail sales in 2025 and grew at a CAGR of 37.5% between December 2021 and December 2025, while the specialty egg (including pasture-raised and free-range) market accounted for approximately $12.6 billion in retail sales in 2025 and grew at a CAGR of 26.4% between December 2021 and December 2025.
According to Circana data, the U.S.
butter market accounted for approximately $5.9 billion in retail sales in 2025 and grew at a CAGR of 10.0% between December 2021 and December 2025.
−Removed: We believe the strength of our platform, coupled with significant investments in our crew members and infrastructure, position us to continue to deliver industry-leading growth across new and existing categories.
+Added: We believe the strength of our platform, coupled with ongoing investments in our crew members, infrastructure and supply chain capacity, position us to continue to deliver industry-leading growth across new and existing categories.
Our Strengths
Trusted Brand Aligned with Consumer Demands
−Removed: We believe consumers have grown to trust our brand because of our adherence to our values and a high level of transparency.
−Removed: We believe consumers are increasingly focused on the source of their food and are willing to pay a premium for brands that deliver transparency, sustainability and integrity.
+Added: We believe consumers have grown to trust our brand because of our adherence to our values and our high level of transparency.
+Added: We believe consumers are increasingly focused on understanding the source of their food and are willing to pay a premium for brands that deliver trust, transparency and authenticity.
As a company focused on driving the success of our stakeholders, our brand resonates with consumers who seek to align themselves with companies that share their values.
−Removed: Through our Vital Times newsletter, social media outlets and our high-touch consumer engagement marketing campaigns, we cultivate and support our relationship with consumers by communicating our values, building trust and promoting brand loyalty.
+Added: Through our Vital Times newsletter, social media outlets and our high-touch consumer engagement and marketing campaigns, we cultivate and support our relationship with consumers by communicating our values, building trust and promoting brand loyalty.
Strategic and Valuable Brand for Retailers
−Removed: Our historical performance has demonstrated that we are a strategic and valuable partner to retailers.
−Removed: We have reached a broad set of consumers through a variety of retail partners, including Albertsons, Kroger, Publix, Whole Foods, Sprouts Farmers Market, or Sprouts, Target and Walmart.
−Removed: As of December 2024, we were either the number one or two egg brand by retail dollar sales for branded eggs with key customers such as Albertsons, Kroger, Sprouts, Target and Whole Foods.
+Added: Our performance has demonstrated that we are a strategic and valuable partner to retailers.
+Added: We have reached a broad set of consumers through a variety of retail partners, including Albertsons, Kroger, Publix, Target, Walmart, Sprouts and Whole Foods.
+Added: As of December 2025, we were either the number one or two egg brand by retail dollar sales for branded eggs with nine of our ten largest retail customers.
We believe the success of our brand in both the natural and mainstream retail channels demonstrates that consumers are demanding premium products that meet a higher ethical standard.
9 unchanged sentences
Experienced and Passionate Team
−Removed: We have an experienced and passionate senior leadership team that has over 120 years of combined industry experience and includes our President and Chief Executive Officer Russell Diez-Canseco, a seasoned food industry expert with over 20 years of relevant experience, including at H-E-B, a privately held supermarket chain.
−Removed: Our leadership team works in partnership with Matthew O’Hayer, our founder and the Executive Chairperson of our Board of Directors, who continues to inform our strategic vision with the entrepreneurial perspective gained through over 40 years of building businesses.
−Removed: We also have a deep bench of talent with strong business and operational experience, and crew members at all levels of our organization who are passionate about addressing the needs of our stakeholders.
−Removed: We have leveraged the experience and passion of our leadership team, our founder and Executive Chairperson, and our other crew members to grow net revenue at a CAGR of 29.7% since 2020, and we continue to grow our butter business and build out our shell egg processing capacity through our Egg Central Station facility in Missouri and our planned facility in Indiana.
+Added: We have an experienced and passionate senior leadership team that has nearly 150 years of combined industry experience.
+Added: Russell Diez-Canseco, our President and Chief Executive Officer, has been with Vital Farms since 2014 and has over 25 years of food industry experience.
+Added: We also have a deep bench of talent with strong business and operational experience and crew members at all levels who are passionate about addressing the needs of our stakeholders.
+Added: We have leveraged the experience and passion of our senior leadership team, our Board of Directors and our other crew members to grow net revenue at a CAGR of 30.6% since 2021, and we continue to grow our butter business and build out our shell egg processing capacity through our Egg Central Station facility in Missouri and our planned Vital Crossroads facility in Indiana.
Our Growth Strategies
2 unchanged sentences
We continue to compete at the top of our current categories, which helps fuel our continued, profitable growth, and we believe there is significant opportunity to further grow volume with existing retail customers by building consumer awareness and demand for our brand.
−Removed: Our products generate stronger velocities and, we believe, greater profitability per unit for our retail customers in the categories in which we compete.
−Removed: By capturing greater shelf space, driving higher product velocities and increasing our average SKU count per retail partner, we believe there is meaningful runway for further growth with existing retail customers.
+Added: Our products generate stronger velocities and, we believe, greater profitability per unit for our retail customers in our current categories.
+Added: By capturing greater shelf space, driving higher product velocities and increasing our average SKU count per retailer, we believe there is meaningful runway for further growth with existing retail customers.
Beyond our existing retail footprint, we believe there are significant opportunities to gain incremental stores from existing retail customers and to add new retail customers.
Additionally, we believe there is significant demand for our products in the foodservice channel since we offer versatile ingredients with high menu penetrations across commercial and non-commercial operator segments.
−Removed: We also believe there are significant further long-term opportunities in additional distribution channels, including the convenience, drugstore and club channels.
We see considerable opportunity for medium- to long-term growth in this channel by increasing our category market share through sales to values-aligned foodservice operators and their distributors.
+Added: We also believe there are significant further long-term opportunities in additional distribution channels, including the convenience, drugstore and club channels.
Expand Our Portfolio
1 unchanged sentence
We believe making strategic bets on larger-scale opportunities will help advance our vision of becoming America’s most trusted food company.
−Removed: The successes of our core products have confirmed our belief that there is significant demand for ethically produced food products, and our proprietary consumer surveys confirm our belief that there is significant demand for our brand across a wide spectrum of food categories.
+Added: The successes of our core offerings have confirmed our belief that there is significant demand for ethically produced food products, and our proprietary consumer surveys confirm our belief that there is significant demand for our brand across a wide spectrum of food categories.
We are committed to continuing to introduce consumers to an expanding range of product offerings.
8 unchanged sentences
Scale a World-Class Organization
−Removed: We have always believed that our most important competitive advantage is great people, operating as one high-performing team in a strong culture, with the right tools to help us reach our potential, both individually and collectively.
+Added: We believe that our most important competitive advantage is great people, operating as one high-performing team in a strong culture, with the right tools to help us reach our potential, both individually and collectively.
Our people function prioritizes attracting and developing talent that supports our strategic plan, our growth initiatives and our culture.
This effort is critical not only to our current success but the direction of our company in the future.
−Removed: As we continue our focus on scaling a world-class organization, we believe this tighter link between where we are going, the processes we will put in place to get there and, most importantly, how we engage, inspire, and develop our crew members will fuel our continued growth.
+Added: We are also committed to ensuring that our talent has access to the systems and processes necessary to continue to meet stakeholder demands as we scale.
+Added: In the fourth quarter of fiscal 2025, we completed a multi-year process to implement and launch a new cloud-based enterprise resource planning system.
+Added: As we continue to scale a world-class organization, we believe our focus on where we are going, the systems and processes necessary to get there and, most importantly, how we engage, inspire, and develop our crew members will fuel our continued growth.
Products and Innovation
4 unchanged sentences
The retail varieties of our shell eggs are based on supplemental feed type (certified organic and conventional), egg size (medium, large, extra-large and jumbo) and pack size (6, 12, 18 and 24 count).
−Removed: Our shell egg varieties also include True Blues (pasture-raised heirloom eggs with distinct blue shells) and Restorative Eggs (eggs from farms employing enhanced regenerative agricultural standards).
+Added: Our shell egg varieties also include True Blues (pasture-raised heirloom eggs with distinct blue shells) and Restorative Eggs (eggs from farms employing enhanced regenerative agricultural standards certified by Regenified).
In 2015, we saw an opportunity in the U.S.
−Removed: refrigerated value-added dairy market for premium butter with artisanal qualities, such as higher butterfat content, sea salt and traditional slow-churn methods.
+Added: refrigerated value-added dairy market for premium butter with artisanal qualities, such as higher butterfat content, salt and traditional slow-churn methods.
Our consumer research and basket analysis also identified butter as a highly complementary product category to eggs in terms of usage and buyer profile.
−Removed: Today, we offer unsalted and sea salted varieties of our butter, which is sold in two-stick and four-stick packs.
+Added: Today, we offer unsalted and salted varieties of our butter, which is sold in two-stick and four-stick packs.
Hard-Boiled Eggs and Liquid Whole Eggs
13 unchanged sentences
natural channel and #2 U.S.
−Removed: overall egg brand by retail dollar sales, with an over 54% share of the U.S.
−Removed: pasture-raised retail egg segment for the 52-week period ended December 29, 2024.
+Added: overall egg brand by retail dollar sales.
Our brand awareness is represented by a strong social media following, with approximately 162,000 Instagram followers and 128,000 TikTok followers.
−Removed: Building on prior success, we will continue to invest in the brand through digitally integrated national media campaigns and build customer loyalty through other media formats, including our quirky Vital Times newsletter, now in its thirteenth year of print, which is placed in each egg carton.
+Added: Building on prior successes, we will continue to invest in the brand through digitally integrated national media campaigns and build customer loyalty through other media formats, including our quirky Vital Times newsletter, now in its fourteenth year of print, which is placed in each egg carton.
We have circulated more than 400 million copies of our Vital Times newsletter since 2021.
4 unchanged sentences
We market our products throughout the United States, with the majority of our net revenue coming from sales of our shell egg products.
−Removed: As of December 2024, we distribute through third parties and direct to retailers to reach approximately 24,000 stores.
+Added: As of December 2025, we distribute through third parties and direct to retailers to reach more than 24,000 stores.
With significant expansion in recent years, our retail sales are distributed between the natural channel and mainstream channel.
Because of our brand equity, loyal consumer base and line of high-quality products, we believe there are attractive growth opportunities across these channels, in addition to a sizable opportunity in the foodservice channel.
−Removed: We believe there are also incremental growth opportunities in additional distribution channels, including the convenience, drugstore, club, military and international markets, which we may access along with retail growth opportunities to enable us to continue our net revenue growth.
+Added: We believe there are also incremental growth opportunities in additional distribution channels, including the convenience, drugstore and club channels, which we may access along with retail growth opportunities to enable us to continue our net revenue growth.
Natural Channel
14 unchanged sentences
We have strategically designed our supply chain to ensure high production standards and optimal year-round operation.
−Removed: We are motivated by the positive impact we have on rural communities and enjoy a strong relationship and reputation with our network of more than 425 family farms.
−Removed: In order to capitalize on this strong supply network, we built a state-of-the-art shell egg processing facility, Egg Central Station in Springfield, Missouri.
+Added: We are motivated by the positive impact we have on rural communities and enjoy a strong relationship and reputation with our network of more than 600 small farms.
+Added: To capitalize on this strong supply network, we own and operate a state-of-the-art shell egg processing facility, Egg Central Station in Springfield, Missouri.
Following its expansion in April 2022, Egg Central Station is approximately 153,000 square feet and utilizes highly automated equipment to grade and package our shell egg products.
The design of our facility includes investments in support of each of our stakeholders, from our crew members, to the community and the environment, to our customers and consumers.
−Removed: To help support continued supply and further growth, we announced in 2024 that we plan to locate a second world-class egg washing and packing facility in Seymour, Indiana, which we anticipate will be fully operational in 2027.
−Removed: In addition, we announced in January 2025 that we plan to install an additional Moba egg grading system, the primary automation technology used in washing, sorting, and packing shell eggs, in Egg Central Station.
−Removed: Installation of this new system is expected to begin in the first quarter of 2025 and to be fully operational by the end of fiscal 2025.
+Added: To help meet the continued demand for our shell eggs, we installed and began operating an additional Moba egg grading system, the primary automation technology used in washing, sorting, and packing shell eggs, at Egg Central Station in fiscal 2025.
+Added: To support continued supply and further growth, we broke ground in 2025 on Vital Crossroads, our planned second world-class egg washing and packing facility with onsite cold storage in Seymour, Indiana, which we anticipate will be fully operational in 2027.
Our eggs are kept in on-farm coolers using equipment that meets our precise standards.
−Removed: The eggs are then collected on a regular basis by a third-party freight carrier and placed in cold storage until packing for shipment to customers.
−Removed: Each of our butter, hard-boiled egg and liquid whole egg products is produced by a co-manufacturer (with eggs from our network of family farms used for our hard-boiled egg and liquid whole egg products).
+Added: The eggs are then collected on a regular basis by a third-party freight carrier and placed in a new dedicated cold storage and fulfillment facility, located less than one mile from Egg Central Station and operated by our longtime cold storage provider, until packing for shipment to customers.
+Added: Each of our butter, hard-boiled egg and liquid whole egg products is produced by a co-manufacturer (with eggs from our network of small farms used for our hard-boiled egg and liquid whole egg products).
To support the growth of our business, we are focused on expanding existing co-manufacturing relationships where appropriate and establishing new relationships.
+Added: The cream for our butter is sourced primarily from dairy farms in Ireland.
+Added: The cream that comes from the dairy cows is 90% grass-fed and pasture-raised.
+Added: We import bulk butter from our supplier in Ireland and use a co-manufacturer in the United States for stick butter production.
+Added: The stick butter is then placed in cold storage until packing for shipment to customers.
Our egg packaging consists primarily of corrugated boxes and egg cartons.
4 unchanged sentences
We have numerous competitors of varying sizes, including producers of private-label products as well as producers of other branded egg and butter products that compete for trade merchandising support and consumer dollars.
−Removed: We compete with large egg companies such as Cal-Maine, Inc.
+Added: We compete with large egg companies such as Cal-Maine Foods, Inc.
and large international food companies such as Ornua Co-operative Limited (Kerrygold).
3 unchanged sentences
Across the industry, eggs may be sourced from hens that are caged, cage-free, free-range or pasture-raised.
−Removed: Large egg companies offer commodity eggs sourced from caged hens, and in an attempt to address growing consumer demand for ethically produced and higher quality eggs, they have also grown their cage-free, free-range and pasture-raised offerings.
+Added: Most large egg companies primarily offer commodity eggs sourced from caged hens.
+Added: In an attempt to address growing consumer demand for ethically produced and higher quality eggs, we have seen larger competitors grow their cage-free, free-range and pasture-raised offerings.
Although we operate in competitive industries, we believe that we have a strong and sustainable competitive advantage based on an ongoing process of values-driven decisions, our fundamental commitment to producing ethically minded food, the trust we have developed in our brand and our ability to provide reliable supply to our distribution partners and customers.
We built and operate what we believe is one of the largest sourcing and distribution networks of family farms with strong growth potential.
−Removed: By focusing on the interests of each of our stakeholders, we believe we have created a model that attracts the best family farm partners, produces the highest quality products and creates benefits for all parties.
−Removed: We believe our experience in building this network has provided, and will continue to provide significant scale and execution advantages as we continue to expand.
+Added: By focusing on the interests of each of our stakeholders, we believe we have created a model that attracts the best farmers and produces the highest quality products.
+Added: We believe our experience in building our farm and supply chain networks has provided and will continue to provide significant scale and execution advantages as we continue to expand.
Government Regulation
18 unchanged sentences
In addition, our suppliers are subject to numerous regulatory requirements.
−Removed: For example, the farmers who produce our shell eggs may be subject to requirements implemented by the FDA pertaining to pest control, salmonella enteritidis prevention and other requirements.
+Added: For example, the farmers who produce our shell eggs are subject to requirements implemented by the FDA pertaining to pest control, salmonella enteritidis prevention, pest control, sanitation, biosecurity, environmental testing, storage, transport and other requirements.
There are also a number of U.S.
7 unchanged sentences
In order to be designated as a Certified B Corporation, companies are required to take a comprehensive and objective assessment of their positive impact on society and the environment.
−Removed: The assessment evaluates how a company’s operations and business model impact its workers, customers, suppliers, community and the environment using a 200-point scale.
−Removed: While the assessment varies depending on a company’s size (number of employees), sector and location, representative indicators in the assessment include payment above a living wage, employee benefits, stakeholder engagement, supporting underserved suppliers and environmental benefits from a company’s products or services.
−Removed: After completing the assessment, B Lab will verify a company’s score to determine if it meets the 80-point minimum bar for certification.
−Removed: The review process includes a phone review, a random selection of indicators for verifying documentation and a random selection of company locations for onsite reviews, including employee interviews and facility tours.
−Removed: Once certified, every Certified B Corporation must make its assessment score transparent on B Lab’s website.
+Added: The assessment evaluates how a company’s operations and business model impact its workers, customers, suppliers, community and the environment.
Designation and continued certification as a Certified B Corporation is at the sole discretion of B Lab.
To maintain our certification, we are required to update our assessment and verify our updated score with B Lab every three years.
−Removed: We were most recently recertified in January 2022, and we are in the process of seeking recertification as a Certified B Corporation.
−Removed: During the recertification and review process, our Certified B Corporation designation remains in good standing.
+Added: We were most recently recertified in March 2025.
Public Benefit Corporation Status
14 unchanged sentences
Our dedication to our stakeholders inspires us to continuously raise our standards and practices.
−Removed: The three pillars of our approach to impact are to build a resilient food system, to foster a people first culture and to drive engaged and accountable oversight.
+Added: The three pillars of our approach to impact are building a resilient food system, fostering a people first culture and driving engaged and accountable oversight.
In 2025, we continued to make progress toward our short- and medium-term Impact Goals.
−Removed: Our Impact Goals include reducing the ecological impact of our business, driving inclusion within our crew, fostering an ethical culture and mitigating climate-related risks.
−Removed: The Nominating and Corporate Governance Committee of our Board of Directors has been tasked with oversight of our strategy, initiatives, policies, practices and reporting relating to environmental sustainability, climate-related risks and opportunities, human capital management, social and ethical issues and our obligations as a Delaware public benefit corporation.
−Removed: The Nominating and Corporate Governance Committee receives quarterly updates from our Head of Impact and reports out to the Board of Directors regarding its oversight responsibilities.
+Added: Our Impact Goals include mitigating climate risk in our operations, driving climate resilience in our supply chain through regenerative agriculture, and ensuring we maintain a high standard of ethics as we grow.
+Added: The Nominating and Corporate Governance Committee of our Board of Directors has been tasked with oversight of our strategy, initiatives, policies, practices and reporting relating to environmental sustainability, climate-related risks and opportunities and our obligations as a Delaware public benefit corporation.
+Added: The Nominating and Corporate Governance Committee receives updates at least quarterly from our Head of Impact and reports out to the Board of Directors regarding its oversight responsibilities.
We are committed to building a people-first culture that embodies our values and understands the unique needs of our crew members.
−Removed: We are focused on bringing about inclusion and belonging throughout our company through initiatives to foster crew learning and development that are grounded in our purpose of improving the lives of people, animals, and the planet through food.
−Removed: See the section titled “— Culture and Human Capital” below for further information about our commitment to inclusion and belonging.
−Removed: We acknowledge the impact that climate change may have on our business and are committed to taking action to mitigate our emissions and overall environmental risk.
+Added: We are focused on advancing a work environment culture where every crew member feels valued and experiences a true sense of belonging, supported by initiatives that foster learning, development, and engagement across our organization, which we call Crew Impact.
+Added: Our Crew Impact function is imbued throughout our company through initiatives to foster crew learning and development that are grounded in our purpose of improving the lives of people, animals, and the planet through food.
+Added: We acknowledge the impact of climate change on our business, and we are committed to taking action to mitigate our emissions and overall environmental risk.
In 2021, we began to track and analyze our greenhouse gas emissions to understand and mitigate our carbon footprint, as well as water risks relative to our business and operations.
1 unchanged sentence
Our commitment to sustainability is borne out by our operations.
−Removed: For example, in 2024, we received LEED Gold Certification for our Egg Central Station facility in Missouri, and as we look toward our planned second facility in Indiana, we plan to build on our successes.
−Removed: We believe in providing transparent disclosure regarding our commitment to impact and communicating our progress with stakeholders.
−Removed: We released our most recent full Impact Report in March 2023 and released an Impact Update in March 2024.
−Removed: We plan to continue to provide regular updates as to our progress toward our Impact Goals and anticipate releasing a new Impact Report in the first half of 2025.
+Added: For example, in 2024, we received LEED Gold Certification for our Egg Central Station facility in Missouri, and as we look toward our planned Vital Crossroads facility in Indiana, we intend to build on the learnings from Egg Central Station to ensure we continue to be stewards of our communities and the environment.
+Added: We believe in providing transparent disclosure regarding our commitment to impact and communicating our progress to stakeholders.
+Added: We released our most recent full Impact Report in April 2025 and released an Impact Update in March 2024.
+Added: We plan to continue to provide regular updates as to our progress toward our Impact Goals and anticipate releasing a new Impact Update in the first half of 2026.
To learn more about these efforts and our relevant policies, please visit our investor relations website, investors.vitalfarms.com, and our impact website, vitalfarms.com/impact.
3 unchanged sentences
Demand tends to increase with the start of the school year, is highest prior to holiday periods, particularly Thanksgiving, Christmas and Easter, and is lowest during the summer months.
−Removed: As a result of these seasonal and quarterly fluctuations, comparisons of our sales and operating results between different quarters within a single fiscal year are not necessarily meaningful comparisons.
+Added: Seasonality may also impact the risk of agricultural diseases such as highly pathogenic avian influenza, which can be influenced by seasonal bird migration patterns.
+Added: As a result of seasonal and quarterly fluctuations, comparisons of our sales and operating results between different quarters within a single fiscal year are not necessarily meaningful comparisons.
Trademarks and Other Intellectual Property
12 unchanged sentences
Human capital management is overseen by the Compensation Committee of our Board of Directors, which is charged under its committee charter to review and discuss with management our policies and practices on the development, retention, wellness, and engagement of our crew.
−Removed: Our Compensation Committee receives quarterly updates from our Chief People Officer on human capital matters and reports out to the Board of Directors regarding its oversight responsibilities.
+Added: Our Compensation Committee receives regular updates from our Chief People Officer on human capital matters and reports out to the Board of Directors regarding its oversight responsibilities.
Crew Recruitment, Development and Retention
10 unchanged sentences
We believe in a culture of transparency and ownership.
−Removed: We communicate regularly with our crew members across departments and position levels, including through monthly all-company meetings that we call “Raise the Barn” (which are in-person for our Egg Central Station crew members in Missouri and for crew members who work at the Roost in Austin) with updates and messaging from our senior leadership team, and virtual sessions for our remote teams that include executive question-and-answer sessions.
+Added: We communicate regularly with our crew members across departments and position levels, including through all-company meetings that we call “Raise the Barn” (which are in-person for our Egg Central Station crew members in Missouri) with updates and messaging from our senior leadership team, and virtual sessions for our remote teams that include executive question-and-answer sessions.
These frequent touchpoints are focused on helping crew members feel connected to our mission and empowered to make informed decisions that drive our business forward.
−Removed: We maintain a remote workforce for our crew members, other than those located at Egg Central Station in Missouri.
+Added: We maintain a remote workforce for substantially all of our crew members not located at Egg Central Station in Missouri.
We continue to believe this commitment to and cultivation of a remote workforce has enabled us to attract top talent across the country and has had a positive impact on crew member retention and engagement.
7 unchanged sentences
By creating clarity on how to be successful at Vital Farms and providing opportunities to build relevant job skills, we believe we are empowering our crew members to take ownership and work collaboratively with their leader to co-create their respective career journeys.
−Removed: Inclusion and Belonging
We aim to push ourselves to take meaningful, positive actions that have a direct impact on our stakeholders, including our family farmers, suppliers, customers, crew members, consumers, stockholders, communities and the planet.
−Removed: In service of this goal, we are committed to building a workplace where every crew member feels valued and that they belong.
−Removed: By embedding inclusion and belonging into our operations and culture, we aim to build an innovative, resilient and impactful organization that stays true to its purpose of improving the lives of people, animals and the planet through food.
−Removed: In 2024, we hired a new Director of Inclusion and Belonging to continue to help foster our core values.
−Removed: Our inclusion and belonging function is focused on attracting, developing, retaining and advancing a diverse and talented workforce, striving to be an employer of choice that reflects our stakeholders and the communities we serve.
−Removed: We strive to cultivate through our work to be an inclusive and collaborative culture rooted in our purpose and mission, ensuring every crew member feels valued and truly belongs.
−Removed: At Vital Farms, we have formed seven Crew Resource Groups, or CRGs, to promote inclusion and belonging through internal activities and learning opportunities.
−Removed: These CRGs include both characteristic-based and regional-based groups.
−Removed: Additionally, we are working to expand our impact by supporting access to ethical food and community resilience efforts in the areas where we operate.
+Added: In service of this goal, we are committed to building a workplace where every crew member feels valued.
+Added: By embedding Crew Impact into our operations and culture, we aim to build an innovative, resilient and impactful organization that stays true to its purpose of improving the lives of people, animals and the planet through food.
+Added: We seek to take deliberate actions that support our stakeholders, including our farmers, suppliers, customers, crew members, consumers, stockholders, the environment, and the communities in which we operate.
+Added: In support of these efforts, we maintain workplace practices intended to support crew members and enable their success.
+Added: Internally, advancing our mission requires building effective, high-performing teams that bring together a range of diverse perspectives and experiences.
+Added: We seek to foster an inclusive and collaborative work environment aligned with our core values of Growth, Humility, Empathy, Ownership, and Competing to Win.
+Added: By embedding these principles into our operations and ways of working, we aim to build an innovative, resilient and purpose-driven organization.
+Added: Our Crew Impact function focuses on activities related to attracting, developing, retaining, and advancing talent, with the objective of supporting a workforce that reflects our stakeholders and the communities we serve.
+Added: These efforts include intentional actions to build teams that reflect varying perspectives, reduce barriers, support fair access to opportunities, and ensure that diverse voices are considered and integrated into how we operate.
+Added: As part of this work, we have established seven crew resource groups, or CRGs.
+Added: These CRGs are designed to support learning, connection, and engagement among crew members.
+Added: In addition to our internal initiatives, we engage in external efforts intended to support access to ethical food and community resilience in the regions where we operate.
Workplace Health and Safety
27 unchanged sentences
We believe a diverse and inclusive crew is crucial to our long-term success as a business and a priority for us as our values remain rooted in Conscious Capitalism.
−Removed: Under the leadership of our new Director of Inclusion and Belonging and our Inclusion and Belonging Council, we have worked to drive inclusion and belonging across our crew and supply chain.
+Added: Under the leadership of our Director of Crew Impact and our Crew Impact Council, we have worked to drive inclusion and belonging across our crew and supply chain.
• We Compete to Win:
4 unchanged sentences
As of December 28, 2025, we had approximately 739 full-time crew members, including 507 in operations, 76 in sales and marketing, 39 in finance and 119 in general and administrative functions, all of whom are located in the United States.
−Removed: As of December 29, 2024, approximately 41% of our full-time crew members were women and approximately 19% were members of underrepresented minority groups.
+Added: As of December 28, 2025, approximately 40% of our full-time crew members were women and approximately 19% were self-identified members of underrepresented minority groups.
None of our crew members is represented by a labor union.
8 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.