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 Arrangement of Certain Officers
On November10, 2017, Destination Maternity Corporation (the “Company”) and David L. Courtright, the Company’s principal accounting officer, entered into a transition agreement, which changed the term of Mr.Courtright’s employment from at-will to a fixed term ending December31, 2018 (subject to earlier termination by either the Company or Mr.Courtright). to this agreement, Mr.Courtright’s tenure as the Company’s principal accounting officer will end upon the end of the term of his employment. Additionally, this agreement also provided for certain payments to Mr.Courtright upon the end of the term (or on a termination by the Company without cause or by Mr.Courtright for good reason, if sooner).
The foregoing description of the transition agreement is qualified in its entirety by reference to the full text of the agreement, a copy of which will be filed as an exhibit to the Company’s quarterly report on Form 10-Q for the quarter ending October28, 2017.
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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.