CHEROKEE INC. (NASDAQ:CHKE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

ME Staff 8-k
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CHEROKEE INC. (NASDAQ:CHKE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Item 5.02Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.

(e)Cash and Equity Transaction Bonuses

On December14, 2016, the Compensation Committee of the Board of
Directors of Cherokee Inc. (theCompany) approved cash and equity
bonuses to the Companys executive officers, in recognition of
significant efforts in the Companys successful completion of its
acquisition of the intellectual property assets of Hi-Tec Sports
International B.V. and associated transactions, as follows:

Name and Position

CashBonus ($)

StockOption Award (#ofshares)(1)

Henry Stupp, Chief Executive Officer

160,000 50,000

Howard Siegel, President and Chief Operating Officer

80,000 30,000

Jason Boling, Chief Financial Officer

80,000 20,000

(1)

The stock option awards were granted under the Cherokee
Inc. Amended and Restated 2013 Stock Incentive Plan
(the2013 Plan) and are subject to the following terms:
(i)each award has an exercise price of $11.20 per share,
equal to the closing price of the Companys common stock
on the date of grant; (ii)each award vests ratably on an
annual basis over a threeyear period, commencing on the
first anniversary of the date of grant; (iii)each award
has a contractual term of 3.5 years; and (iv)each award
is subject to the other terms set forth in the Companys
standard stock option agreements for awards granted under
the 2013 Plan.


About CHEROKEE INC. (NASDAQ:CHKE)