EXPRESS, INC. (NYSE:EXPR) 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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EXPRESS, INC. (NYSE:EXPR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

EXPRESS, INC. (NYSE:EXPR) 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.

On September 23, 2019, Matthew Moellering, Executive Vice President, Chief Operating Officer of Express, Inc. (the “Company”) entered into a letter agreement (the “Letter Agreement”) to which he was promoted to President and Chief Operating Officer of the Company. In connection with the promotion, the Compensation and Governance Committee (the “Committee”) of the Company\’s Board of Directors approved an increase in Mr. Moellering’s base salary from $793,000 to $825,000 and an increase in Mr. Moellering’s seasonal performance-based cash incentive target percentage from 85% to 90%, effective September 22, 2019. In addition, beginning with the Company’s annual grant of long-term incentive awards in fiscal 2020, the Committee approved an increase in Mr. Moellering’s long-term incentive compensation amount from $1,300,000 to $2,000,000.
The above summary is not complete and is qualified in its entirety by the Letter Agreement, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
The following exhibits are being filed with this Current Report on Form 8-K.
EXPRESS, INC. Exhibit
EX-10.1 2 matthewmoelleringletteragr.htm EXHIBIT 10.1 Exhibit Matthew Moellering1 Express DriveColumbus,…
To view the full exhibit click here

About EXPRESS, INC. (NYSE:EXPR)

Express, Inc. is a specialty apparel and accessories retailer offering both women’s and men’s merchandise, targeting the 20 to 30 year old customer. The Company offers an assortment of fashionable apparel and accessories to address fashion needs across multiple aspects of lifestyles, including work, casual, jeans wear and going-out occasions. It operates through the operation of its brick-and-mortar retail and outlet stores, e-commerce operations and franchise operations segment. The Company sells its products through its e-commerce Website, www.express.com, and has franchise agreements with franchisees that operate Express locations in Latin America, the Middle East and South Africa. It operates approximately 650 stores across the United States, in Canada and in Puerto Rico, including over 80 factory outlet stores. It products are created by its in-house design team. The Company has a portfolio of products that have brand value, including the Editor pant and 1MX shirt.