DAVIDsTEA Inc. (NASDAQ:DTEA) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 20, 2016, the Human Resources and Compensation Committee of the Board of Directors of DAVIDsTEA Inc. (the “Company”) approved a special one-time cash bonus for certain key employees, including three of the Company’s Named Executive Officers (the “NEOs”) identified in the Company’s Annual Report on Form 10-K for the fiscal year ended January 30, 2016 and filed on April 13, 2016. This special bonus will be paid by August 31, 2017, subject to the qualified key employees remaining in good standing and actively employed by the Company as of the payment date.
Upon meeting the above conditions on the payment date, Mr. Edmund Noonan would be entitled to a cash bonus of $30,000USD, Mr. Doug Higginbotham $25,000USD and Mr. Macdonald $30,000CDN.
