Lands' End Inc. filed SEC Form 8-K: Leadership Update
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
In connection with Lands’ End, Inc.’s (the “Company”) previously announced transaction (the “Transaction”) with WH Topco, L.P. (d/b/a WHP Global) as disclosed on the Company’s Form 8-K dated January 26, 2026, on March 5, 2026, the Board of Directors of the Company (the “Board”) approved the grant of transaction success bonuses to each of Andrew J. McLean, Bernard McCracken and Peter L. Gray. Mr. McLean’s transaction success bonus is equal to two (2) times his annual base salary, and each of Messrs. McCracken’s and Gray’s transaction success bonuses are equal to one and one-half (1.5) times their annual base salaries, in each case, less any deductions required to be made under applicable law. Subject to the closing of the Transaction occurring, fifty percent (50%) of the transaction success bonuses will become payable upon the closing, twenty-five percent (25%) will become payable upon the one-year anniversary of the closing and twenty-five percent (25%) will become payable on December 31, 2027, in each case, subject to the executive’s continued employment through the applicable payment date, or will become payable upon the earlier termination of the executive’s employment by the Company without “cause” or by the executive for “good reason” (each as defined in the executive’s severance agreement).
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| LANDS’ END, INC. | |||
| Date: March 11, 2026 | By: | /s/ Peter L. Gray | |
| Name: | Peter L. Gray | ||
| Title: | President, Lands’ End Licensing, Chief Administrative Officer and General Counsel | ||
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