DESTINATION XL GROUP, INC. (NASDAQ:DXLG) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 8, 2018, Destination Group XL, Inc. (the “Company”) promoted Brian S. Reaves to the position of Executive Vice President and Chief Operating Officer.Mr. Reaves will continue to report directly to David A. Levin, the Company’s President and Chief Executive Officer.
Mr. Reaves, 57, has served as the Company’s Executive Vice President and Chief Customer Officer since November 2017.Prior to that, Mr. Reaves served as the Company’s Senior Vice President and Chief Sales Officer from November 2014 to November 2017. From May 2010 to November 2014, Mr. Reaves was the Company’s Senior Vice President of Store Sales and Operations.Prior to joining the Company, Mr. Reaves was the vice president of outreach and group sales for David’s Bridal from 2007 to 2009.
In connection with Mr. Reaves’ promotion, the Company entered into the Second Amended and Restated Employment Agreement with Mr. Reaves (the “Amended Employment Agreement”), which amended his current employment agreement. to the terms of the Amended Employment Agreement, among other things, Mr. Reaves’ annual base salary was increased to $500,000 from $400,000, and the Company will advance to Mr. Reaves $50,000, prior to any applicable taxes, to cover relocation costs. This summary of the Amended Employment Agreement does not purport to be complete and is subject to and qualified in its entirety by reference to the text of the Employment Agreement included as Exhibit 10.1 to this filing, which is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No.Description
DESTINATION XL GROUP, INC. ExhibitEX-10.1 2 dxlg-ex101_51.htm EX-10.1 SECOND AMENDED EMPLOYMENT AGREEMENT WITH BRIAN S. REAVES dxlg-ex101_51.htm Exhibit 10.1 SECOND AMENDED AND RESTATED EMPLOYMENT AGREEMENT This Second Amended and Restated Employment Agreement (“Agreement”) is made effective as of October 8,…To view the full exhibit click here
About DESTINATION XL GROUP, INC. (NASDAQ:DXLG)
Destination XL Group, Inc. is a specialty retailer of men’s apparel with retail and direct operations in the United States and London, England. The Company operates through the Big & Tall Men’s Apparel segment. The Company operates under the trade names of Destination XL, DXL, Casual Male XL, Casual Male XL outlets, DXL outlets, Rochester Clothing, ShoesXL and LivingXL. The Company operates approximately 170 Destination XL stores, 125 Casual Male XL retail stores, 40 Casual Male XL outlet stores, nine DXL outlet stores and five Rochester Clothing stores. Its direct business includes its DestinationXL.com and bigandtall.com e-commerce sites, which support its stores, brands and product extensions. Through its multiple brands, which include both branded apparel and private-label, the Company offers a range of merchandise. The Company carries various designer brands, including Cole Haan, Allen Edmonds, Timberland, Calvin Klein, Lacoste, Donald J. Pliner and Bruno Magli.
