Chicos FAS, Inc. (NYSE:CHS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Chicos FAS, Inc. (NYSE:CHS) 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 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

This amended Current Report on Form 8-K/A amends Item 1.01 of the Current Report on Form 8-K, filed by Chico’s FAS, Inc. (the “Company”) with the Securities and Exchange Commission (“SEC”) on April 10, 2017, providing key material terms of the Severance Agreement entered into by the Company and Laurie Van Brunt – Brand President – Soma, who left the Company March 31, 2017.
In accordance with the Severance Agreement, Ms. Van Brunt will receive cash payments equal to one year of her annual salary to be paid following the normal payroll cycle. Ms. Van Brunt will also be entitled to a pro-rata bonus payment based upon actual fiscal year 2017 performance results and the percentage of the plan year she was employed; and, to the terms of the Company’s restricted stock and performance share unit agreements, an accelerated prorated portion of her non-vested restricted stock grants and subject to the achievement of the applicable performance goals, of the non-vested performance share unit grants. A copy of the Severance Agreement dated April 7, 2017 is attached to the Current Report on Form 8-K filed with the SEC on April 10, 2017 as Exhibit 99.1.

About Chico’s FAS, Inc. (NYSE:CHS)

Chico’s FAS, Inc. is an omni-channel specialty retailer of women’s private branded, casual-to-dressy clothing, intimates and accessories, operating under the Chico’s, White House Black Market (WHBM) and Soma brand names. The Company is also engaged in the sale of merchandise in its domestic and international retail stores. The Chico’s brand sells private branded clothing focusing on women 45 and older. Chico’s apparel includes the Black Label, Zenergy and Travelers collections. The WHBM brand sells private branded clothing focusing on women 35 and older. WHBM sells clothing and accessory items, including everyday basics, wear-to-work, denim and occasion. It offers black and white color palette. The accessories at WHBM include shoes, belts, scarves, handbags and jewelry. The Soma brand sells private branded lingerie, sleepwear, loungewear, activewear and beauty products focusing on women 35 and older. The lingerie category includes bras, panties, shapewear and swimwear.

Chico’s FAS, Inc. (NYSE:CHS) Recent Trading Information

Chico’s FAS, Inc. (NYSE:CHS) closed its last trading session up +0.09 at 13.52 with 1,674,767 shares trading hands.

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