UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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): March 26, 2020
LANDS' END, INC.
(Exact Name of Registrant as Specified in its Charter)
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Delaware |
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001-09769 |
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36-2512786 |
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(State or Other Jurisdiction of |
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(Commission File Number) |
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(IRS Employer |
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1 Lands’ End Lane Dodgeville, Wisconsin |
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53595 |
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(Address of Principal Executive Offices) |
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(Zip Code) |
Registrant’s telephone number, including area code: (608) 935-9341
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
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 (See General Instructions A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
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Common Stock, par value $0.01 per share |
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The NASDAQ Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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 March 26, 2020, Lands’ End, Inc. (the “Company”) announced that in response to the COVID-19 crisis, among other cost-cutting measures, the Company’s management team was voluntarily reducing their salaries, effective March 28, 2020. The impact of this action on the Company’s named executive officers is as follows:
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Name |
Title |
Reduction in Base Salary |
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Jerome Griffith |
Chief Executive Officer and President |
50% |
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James Gooch |
Executive Vice President, Chief Operating Officer and Chief Financial Officer |
20% |
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Peter L. Gray |
Executive Vice President, Chief Administrative Officer and General Counsel |
20% |
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Chieh Tsai |
Chief Product Officer |
20% |
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Kelly Ritchie |
Senior Vice President, Employee Services |
20% |
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Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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LANDS' END, INC. |
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Date: March 27, 2020 |
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By: /s/ Peter L. Gray |
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Name: Peter L. Gray |
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Title: Executive Vice President, Chief |
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Administrative Officer and General Counsel |