Vince Holding Corp. (NYSE:VNCE) 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 ofDirectors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 28, 2018, Donald V. Roach resigned from the board of directors (the “Board”) of Vince Holding Corp. (the Company”) and from the compensation as well as nominating and corporate governance committees of the Board, effective immediately.Mr. Roach’s resignation did not involve a disagreement with the Company or any matter relating to the Company’s operations, policies or practices.
On August 28, 2018, the Board elected Jeff Feinberg as a director, effective immediately. The appointment filled a vacancy created by Mr. Roach’s resignation.
The Board appointed Mr. Feinberg to serve on the Board’s compensation as well as nominating and corporate governance committees.
Mr. Feinberg is a Managing Director of Sun Capital Partners, Inc. (“Sun capital”), which, through certain of its affiliates (together with Sun Capital, the “Sun Entities”), beneficially owns a majority of the Company’s common stock.
to the Company’s certificate of incorporation, so long as the Sun Entities beneficially own at least 30% of the then outstanding shares of the Company’s common stock, Sun Cardinal, LLC has the right to designate the majority of the Board, to fix the size of the Board and to designate the chairman of the Board and the chairman of each committee of the Board.
Mr. Feinberg will not receive any compensation from the Company for serving on the Board.
There are no family relationships between Mr. Feinberg and any director, executive officer or nominees thereof of the Company.There are no related party transactions between the Company and Mr. Feinberg that would require disclosure under Item 404(a) of Regulation S-K under the Securities Exchange Act of 1934, as amended.
About Vince Holding Corp. (NYSE:VNCE)
Vince Holding Corp. (Vince) is a contemporary fashion brand known for modern style and everyday luxury essentials. The Company offers a range of women’s and men’s apparel, women’s and men’s footwear, and handbags. It operates in two segments: wholesale and direct-to-consumer. Its wholesale segment consists of sales to department stores and specialty stores in the United States and in select international markets. Its direct-to-consumer segment includes its retail and outlet stores, and its e-commerce business. It operates approximately 50 stores, which consisted of over 30 Company-operated full-price retail stores and over 10 Company-operated outlet locations. The direct-to-consumer segment also includes its e-commerce Website, www.vince.com. It offers women’s line under the Vince brand, which includes seasonal collections of cashmere sweaters and silk blouses, leather and suede leggings and jackets, dresses, denim, pants, tanks and t-shirts, and an assortment of outerwear.