On September 25, 2019, the Board of Directors of Hibbett Sports, Inc. (the “Company”) approved the appointment of Scott R. Humphrey as Interim Chief Financial Officer of the Company, effective September 29, 2019. Mr. Humphrey replaces Christine Skold, who fulfilled her contractual term of service as the Company’s Interim Chief Financial Officer as of September 28, 2019 and has accepted a full-time permanent position with another company. The Board of Directors is continuing its search for a permanent Chief Financial Officer.

Mr. Humphrey, age 49, is currently employed by Vaco Birmingham, LLC (“Vaco”), a professional consulting and recruiting services firm. Mr. Humphrey most recently served as the Chief Financial Officer of the general partner of Ciner Resources, LP, a publicly traded mining partnership with headquarters located in Atlanta, Georgia, from August 2017 to December 2018. He previously served as the Vice President of Finance for Ciner Resources from October 2015 to August 2017, and as its Director of Investor Relations from August 2013 until October 2015. Prior to joining Ciner Resources, Mr. Humphrey worked as Treasury Director at Schweitzer-Mauduit International, Inc. from January 2009 until January 2013, and as Corporate Treasurer of HYCO International, Inc. from June 2001 until January 2009. Mr. Humphrey earned his Bachelor of Science degree in Finance from Boston College and his MBA from Georgetown University.

In connection with the appointment of Mr. Humphrey as Interim Chief Financial Officer, Hibbett Sporting Goods, Inc., the wholly-owned operating subsidiary of the Company (“Hibbett Sporting Goods”), and Mr. Humphrey entered into a Consulting Agreement, effective September 29, 2019, that provides, among other things, for the payment of compensation to Vaco at the rate of $11,250 per week for all consulting services to be provided by Mr. Humphrey through January 31, 2020 (the “Term”). The Term may be extended at the election of Hibbett Sporting Goods for up to two consecutive thirty day periods ending on March 31, 2020.

In addition to the weekly compensation rate to be paid to Vaco for Mr. Humphrey’s services, Mr. Humphrey is also entitled to receive Company-paid hotel or apartment accommodations and $300 per week as a travel allowance during the Term. Mr. Humphrey’s consulting services may be terminated by the Company or Hibbett Sporting Goods at any time for “Cause” (as defined in the Consulting Agreement) and by either party for any reason or no reason at all by providing thirty days written notice to the other party.

The foregoing summary of the Consulting Agreement between Hibbett Sporting Goods and Mr. Humphrey is not intended to be complete and is qualified in its entirety by reference to the copy of the Consulting Agreement attached to this Form 8-K as Exhibit 10.1 and incorporated herein by reference.

There are no transactions between Mr. Humphrey and the Company that would be reportable under Item 404(a) of Regulation S-K. There also are no family relationships between Mr. Humphrey and any director or executive officer of the Company.

Item 7.01. Regulation FD Disclosures.

A copy of the press release regarding the events described in Item 5.02 above is being furnished as Exhibit 99.1 to this Form 8-K.

The information in this Item, including Exhibit 99.1 attached hereto, shall not be deemed “filed” for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that Section. It may be incorporated by reference in another filing under the Exchange Act or Securities Act of 1933 if such subsequent filing specifically references this Form 8-K.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No. Description

HIBBETT SPORTS INC Exhibit
EX-10.1 2 consultingagreement.htm CONSULTING AGREEMENT – S HUMPHREY Exhibit 10.1 Consulting Agreement between Hibbett Sporting Goods,…
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About Hibbett Sports, Inc. (NASDAQ:HIBB)

Hibbett Sports, Inc. operates sporting goods stores in small to mid-sized markets in the South, Southwest, Mid-Atlantic and Midwest regions of the United States. The Company operates approximately 1,040 stores in over 30 states, which consists of approximately 1,020 Hibbett Sports stores and over 20 Sports Additions athletic shoe stores. It sells merchandise of various brands, such as Nike, Under Armour, Reebok, adidas, Easton, The North Face and Yeti. It maintains a single wholesale and logistics facility in Alabaster, Alabama. Hibbett Sports stores offer a merchandising mix of localized apparel, footwear, equipment and accessories. Sports Additions store consists of a merchandising mix of athletic footwear, and caps and a limited assortment of apparel. Hibbett Team Sales, Inc. (Team), a subsidiary of the Company, is a supplier of customized athletic apparel, equipment and footwear to school athletic programs in Alabama and parts of Georgia, Florida and Mississippi.