Citi Trends Appoints New CFO and Directors
Ticker: CTRN · Form: 8-K · Filed: Jun 21, 2024 · CIK: 1318484
| Field | Detail |
|---|---|
| Company | Citi Trends INC (CTRN) |
| Form Type | 8-K |
| Filed Date | Jun 21, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-changes, board-of-directors, cfo-appointment
TL;DR
Citi Trends shakes up leadership: new CFO Heather Stevens and directors David Johnson & Jeffrey Kantor join the team.
AI Summary
Citi Trends, Inc. announced on June 20, 2024, several key executive changes. The company elected two new directors, David M. Johnson and Jeffrey A. Kantor, to its Board of Directors. Additionally, the company appointed Heather L. Stevens as Chief Financial Officer and Executive Vice President, effective June 20, 2024. These changes are effective immediately.
Why It Matters
The appointment of a new CFO and board members can signal a strategic shift or a response to performance, potentially impacting the company's future direction and investor confidence.
Risk Assessment
Risk Level: medium — Executive and board changes can introduce uncertainty regarding future strategy and operational stability.
Key Players & Entities
- Citi Trends, Inc. (company) — Registrant
- David M. Johnson (person) — Elected Director
- Jeffrey A. Kantor (person) — Elected Director
- Heather L. Stevens (person) — Appointed Chief Financial Officer and Executive Vice President
- June 20, 2024 (date) — Effective date of changes
FAQ
Who were the newly elected directors to Citi Trends' Board?
David M. Johnson and Jeffrey A. Kantor were elected as new directors to the Board of Directors of Citi Trends, Inc.
Who has been appointed as the new Chief Financial Officer?
Heather L. Stevens has been appointed as the Chief Financial Officer and Executive Vice President of Citi Trends, Inc.
When were these executive and director changes effective?
The changes, including the appointment of Heather L. Stevens and the election of David M. Johnson and Jeffrey A. Kantor, were effective as of June 20, 2024.
What is the principal executive office address for Citi Trends, Inc.?
The principal executive offices of Citi Trends, Inc. are located at 104 Coleman Boulevard, Savannah, Georgia 31408.
What is the IRS Employer Identification Number for Citi Trends, Inc.?
The IRS Employer Identification Number for Citi Trends, Inc. is 52-2150697.
Filing Stats: 940 words · 4 min read · ~3 pages · Grade level 11.3 · Accepted 2024-06-21 16:31:45
Key Financial Figures
- $0.01 — nge on which registered Common stock, $0.01 par value CTRN Nasdaq Stock Market
Filing Documents
- tm2417694d1_8k.htm (8-K) — 44KB
- 0001104659-24-073967.txt ( ) — 214KB
- ctrn-20240620.xsd (EX-101.SCH) — 3KB
- ctrn-20240620_lab.xml (EX-101.LAB) — 33KB
- ctrn-20240620_pre.xml (EX-101.PRE) — 22KB
- tm2417694d1_8k_htm.xml (XML) — 3KB
07. Submission of Matters to a Vote of Security Holders
Item 5.07. Submission of Matters to a Vote of Security Holders. At the 2024 Annual Meeting, the holders of the Company's common stock entitled to vote at the meeting (1) elected eight director nominees whose terms will expire at the 2025 annual meeting of stockholders, (2) adopted, on a non-binding, advisory basis, the resolution approving the compensation of the Company's named executive officers as set forth in the Proxy Statement, (3) approved the Amendment, and (4) ratified the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the fiscal year ending February 1, 2025. The voting results were as follows: (1) The election of eight directors: Board of Directors Nominee For Against Abstain Broker Non-Votes Jonathan Duskin 6,205,767 504,225 161 656,351 Margaret L. Jenkins 6,125,214 584,558 381 656,351 Cara R. Sabin 6,350,004 359,768 381 656,351 Peter R. Sachse 6,434,015 275,757 381 656,351 Kenneth D. Seipel 6,423,019 286,753 381 656,351 David A. Heath 6,697,246 8,223 4,684 656,351 Chaoyang (Charles) Liu 6,700,514 4,905 4,734 656,351 Michael S. Kvitko 6,696,241 9,228 4,684 656,351 (2) A proposal to approve, on a non-binding, advisory basis, the compensation of the Company's named executive officers as set forth in the Proxy Statement: For Against Abstain Broker Non-Votes 6,526,017 183,624 512 656,351 (3) A proposal to amend the 2021 Incentive Plan to increase the number of shares authorized for grant by 450,000 shares: For Against Abstain Broker Non-Votes 6,575,941 133,805 407 656,351 (4) Ratification of the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the fiscal year ending February 1, 2025: For Against Abstain Broker Non-Votes 7,341,970 22,252 2,282 0
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. 10.1 Citi Trends, Inc. 2021 Incentive Plan, incorporated by reference to Appendix A of the Company's Definitive Proxy Statement on Schedule 14A filed on April 16, 2021. 10.2 Amendment to the Citi Trends, Inc. 2021 Incentive Plan, incorporated by reference to Appendix A of the Company's Definitive Proxy Statement on Schedule 14A filed on May 8, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 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 thereunto duly authorized. CITI TRENDS, INC. Date: June 21, 2024 By: /s/ Kenneth D. Seipel Name: Kenneth D. Seipel Title: Interim Chief Executive Officer