STAPLES, INC. (NASDAQ:SPLS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On January 5, 2017, Staples, Inc. (the “Company”) announced that, effective January 9, 2017, Jeffrey L. Hall will become its Vice Chairman & Chief Administrative Officer. A copy of the press release announcing Mr. Hall’s appointment is filed with this Report as Exhibit 99.1.

Mr. Hall, age 49, has served as the Executive Vice President Finance & Administration and Chief Financial Officer of SunEdison Semiconductor Limited, a global leader in the manufacture and sale of silicon wafers to the semiconductor industry, since December 2013. Previously, Mr. Hall served as the Executive Vice President and Chief Financial Officer for Express Scripts Holding Company from 2008 to 2013. Prior to joining Express Scripts, Mr. Hall was with KLA-Tencor Corporation since 2000 in various leadership positions with increasing roles and responsibilities, including serving as Senior Vice President and Chief Financial Officer from 2006 to 2008. Prior to joining KLA-Tencor, Mr. Hall held various financial leadership roles in the resort and global telecommunications industries.

In connection with Mr. Hall’s employment, on December 20, 2016 the Company delivered its standard form of offer letter providing that Mr. Hall (i) will be paid an annual base salary of $800,000, (ii) will be eligible for an annual cash incentive opportunity at target of 50% of base salary, and (iii) will be eligible to participate in the Company’s annual long-term equity incentive award program under our 2014 Stock Incentive Plan, delivered partially as restricted stock units with an expected value at target of $1,208,333, and partially as performance shares with an expected value at target of $2,416,667. The Company expects to grant its annual long-term equity incentive awards to its executive officers, including Mr. Hall, in March 2017, consistent with past practice. In addition, the Company will enter into its standard forms of severance benefits agreement and indemnification agreement for executive officers with Mr. Hall. There are no reportable family relationships or related person transactions involving the Company and Mr. Hall.

On January 5, 2017, Joseph G. Doody, Vice Chairman, announced that he will retire effective September 30, 2017. Certain of Mr. Doody’s duties and responsibilities will be reassigned prior to his retirement.

Item 9.01 Financial Statements and Exhibits.

The exhibit listed on the Exhibit Index immediately preceding such exhibit is furnished as part of this Current Report on Form 8-K.

About STAPLES, INC. (NASDAQ:SPLS)
Staples, Inc. is a provider of products and services for business customers and consumers. The Company offers a selection of products, Websites and mobile platforms, and a range of copy, print and technology services. The Company operates through three business segments, which include North American Stores & Online, North American Commercial and International Operations. The North American Stores & Online segment includes its retail stores and Staples.com businesses in the United States and Canada. The North American Commercial segment consists of the United States and Canadian businesses that sell and deliver products and services directly to businesses, including Staples Advantage and Quill.com. The International Operations segment consists of businesses in approximately 25 countries in Europe, Australia, South America and Asia. It serves businesses of all sizes and consumers in North America, Europe, Australia, South America and Asia. STAPLES, INC. (NASDAQ:SPLS) Recent Trading Information
STAPLES, INC. (NASDAQ:SPLS) closed its last trading session down -0.16 at 8.99 with 6,779,602 shares trading hands.