Build-A-Bear Workshop, Inc. (NYSE:BBW) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02.
(b) On September 8, 2020, David Kanen resigned from the Board of Directors (the “Board”) of Build-A-Bear Workshop, Inc. (the “Company”), effective immediately. Mr. Kanen, who has served on the Board since July 2019, was a Class II director with a term expiring at the Company’s 2021 Annual Meeting of Stockholders. At the time of his resignation, Mr. Kanen served as a member of the Compensation and Development Committee of the Board. Mr. Kanen’s resignation is not due to any disagreements with the Company.
| Item 8.01. | Other Events. |
On September 8, 2020, following the resignation of Mr. Kanen, the Board decreased the size of the Board to six (6) members. In order to maintain the number of directors in each class as nearly equal as possible, the classification of directors was changed to two members in each of Class I, Class II and Class III. Sharon John, who had served as a Class I director prior to that time, was appointed as a Class II director to serve for the balance of Mr. Kanen’s term.
About Build-A-Bear Workshop, Inc. (NYSE:BBW)
Build-A-Bear Workshop, Inc. is primarily a specialty retailer offering a make your own stuffed animal interactive retail-entertainment experience. The Company’s segments include direct-to-consumer (DTC), international franchising and commercial. The DTC segment includes the activities of Company-owned stores in the United States, Canada, the United Kingdom, Ireland and Denmark, and other retail delivery operations, including its e-commerce sites and temporary stores. The international franchising segment includes the licensing activities of its franchise agreements with store locations in Europe, Asia, Australia, Africa, the Middle East and Mexico. The commercial segment markets the naming and branding rights of its intellectual properties for third-party use. Its retail stores offer various merchandise, including over 30 different styles of animals to be stuffed, sounds and scents that can be added to the stuffed animals, and a range of clothing, shoes and accessories, among others.