CHRISTOPHER 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.
Effective July 9, 2018, in connection with Mr. Bundy’s earlier election as the Company’s CFO, Mr. Bundy was granted two equity awards under the Company’s 2018 Stock Incentive Plan as follows:
A Non-Qualified Stock Option to purchase 75,757 shares of the Company’s common stock at an exercise price of $0.99, which will vest ratably over a three-year period, if Mr. Bundy remains employed with the Company; and
A Time-Based Restricted Stock award in the amount of 75,757 shares, which will vest ratably over a three-year period, if Mr. Bundy remains employed with the Company.
The foregoing summary of the stock awards are qualified in its entirety by reference to the non-qualified stock option agreement and time-based restricted stock agreement, copies of which are filed as Exhibits 10.1 and 10.2 to this Current Report on Form 8-K/A and incorporated herein by reference.
Mr. Bundy also has entered into the Company’s standard form of indemnification agreement, to which, among other things, the Company agrees to indemnify its directors and officers and advance certain expenses to the fullest extent permitted by applicable law. A copy of the form of indemnification agreement was filed as Exhibit 10.1 on the Company’s Form 8-K Report filed on June 20, 2017.
Item 9.01 Financial Statements and Exhibits.
CHRISTOPHER & BANKS CORP ExhibitEX-10.1 2 non-qualifiedstockoptionag.htm EXHIBIT 10.1 Exhibit Exhibit 10.1STOCK OPTION AGREEMENT(Non-Qualified Stock Option)Name of Employee:Richard Bundy Date of Grant:July 9,…To view the full exhibit click
About CHRISTOPHER & BANKS CORPORATION (NYSE:CBK)
Christopher & Banks Corporation is a national specialty retailer featuring private-brand women’s apparel and accessories. The Company offers its customers an assortment of clothing for everyday needs. Its merchandise assortments include designs of women’s apparel, generally consisting of casual clothing, everyday basics, wear-to-work, leisure/active wear, and sleepwear in missy, petite and women sizes. The Company also offers a selection of jewelry and accessories, including footwear. The Company operates in the Retail Operations segment, which includes the operation of its retail stores, outlet stores, online and mobile. The Retail Operations segment includes activities generated by the Company’s retail store locations (Missy Petite Women (MPW), Outlet stores, Christopher & Banks (CB), and C.J. Banks (CJ)), as well as the e-commerce business. Its merchandise is developed for women of all sizes, age 40 and older.