DESTINATION MATERNITY CORPORATION (NASDAQ:DEST) 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 June4, 2018, Ronald J. Masciantonio, Executive Vice President& Chief Administrative Officer of Destination Maternity Corporation (the “Company”), resigned effective as of the close of business on June4, 2018.
In connection with Mr.Masciantonio’s departure, and in accordance with his Amended and Restated Executive Employment Agreement with the Company dated May31, 2016 (the “Employment Agreement”), the Company has entered into a Separation and Release Agreement with Mr.Masciantonio, to which Mr.Masciantonio has granted a general release in favor of the Company as a condition of receiving the payments and other benefits specified in Section5.1 of the Employment Agreement, filed as Exhibit 10.14 to the Company’s Form 10-K for the year ended February3, 2018. The foregoing description of the Separation and Release Agreement is not complete and is subject to and qualified in its entirety by reference to the full text of the Separation and Release Agreement, a copy of which is filed herewith as Exhibit 10.1 and is incorporated herein by reference.
| Item 5.02 | Regulation FD Disclosure. |
On June5, 2018, the Company issued a press release relating to Mr.Masciantonio’s departure. A copy of the press release is furnished herewith as Exhibit 99.1.
| Item 5.02 | Financial Statements and Exhibits. |
Destination Maternity Corp ExhibitEX-10.1 2 d427596dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 EXECUTION VERSION SEPARATION AND RELEASE AGREEMENT THIS SEPARATION AND RELEASE AGREEMENT (this “Release”) is made by and between RONALD J. MASCIANTONIO (“Employee”) and DESTINATION MATERNITY CORPORATION (the “Company”). WHEREAS,…To view the full exhibit click here
About DESTINATION MATERNITY CORPORATION (NASDAQ:DEST)
Destination Maternity Corporation, formerly Mothers Work, Inc. is a designer and retailer of maternity apparel in the United States. The Company operates a chain of maternity apparel specialty stores. The Company operates through the design, manufacture, and sale of maternity apparel and related accessories segment. It operates approximately 1,815 retail locations, including over 540 stores in the United States, Canada and Puerto Rico, and approximately 1,280 leased departments located within department stores and baby specialty stores throughout the United States, in Puerto Rico and, in England. The Company sells merchandise on the Internet, primarily through its Motherhood.com, APeaInThePod.com and DestinationMaternity.com Websites. The Company also sells its merchandise through its Canadian Website, MotherhoodCanada.ca, through Amazon.com in the United States, and through Websites of certain of its retail partners.
