Duluth Holdings Files 8-K on Officer/Director Changes, Compensation

TL;DR

**DLTH filed an 8-K about executive changes and pay, watch for details.**

AI Summary

Duluth Holdings Inc. (DLTH) announced on January 18, 2024, that it filed an 8-K regarding the departure or election of directors or certain officers and their compensatory arrangements. This filing indicates potential changes in leadership or executive compensation, which could impact the company's strategic direction and financial performance. Investors should monitor subsequent filings for details on who departed or was elected and the specifics of any new compensation plans, as these changes could signal shifts in company strategy or financial health.

Why It Matters

Changes in leadership and executive compensation can significantly influence a company's future strategy, operational efficiency, and ultimately, its stock performance.

Risk Assessment

Risk Level: medium — The filing indicates potential changes in key personnel and compensation, which introduces uncertainty about future company direction and stability until specific details are disclosed.

Analyst Insight

A smart investor would await the specific details of the director/officer changes and compensatory arrangements before making any investment decisions, as this filing only signals potential changes without providing specifics.

Key Players & Entities

• DULUTH HOLDINGS INC. (company) — the registrant filing the 8-K
• January 18, 2024 (date) — date of the earliest event reported in the 8-K
• 001-37641 (other) — Commission File Number for DULUTH HOLDINGS INC.
• DLTH (other) — Trading Symbol for Class B Common Stock of DULUTH HOLDINGS INC.
• NASDAQ Global Select Market (other) — exchange where DLTH Class B Common Stock is registered

Forward-Looking Statements

• Duluth Holdings Inc. will release further details regarding specific personnel changes and compensation packages in a subsequent filing or press release. (DULUTH HOLDINGS INC.) — high confidence, target: Q1 2024
• The market will react to the specific details of the executive changes, potentially causing short-term stock volatility. (DLTH) — medium confidence, target: Q1 2024

FAQ

Key Financial Figures

• $470,000 — letter: An annualized base salary of $470,000; Eligibility to participate in the Co
• $31,365 — sum relocation payment in the amount of $31,365; and Participation in the Company's E

Filing Documents

• d716111d8k.htm (8-K) — 33KB
• d716111dex101.htm (EX-10.1) — 29KB
• d716111dex991.htm (EX-99.1) — 9KB
• g716111g0122191459082.jpg (GRAPHIC) — 7KB
• g716111g0122191459250.jpg (GRAPHIC) — 5KB
• g716111g0123022846623.jpg (GRAPHIC) — 6KB
• 0001193125-24-012578.txt ( ) — 227KB
• dlth-20240118.xsd (EX-101.SCH) — 3KB
• dlth-20240118_lab.xml (EX-101.LAB) — 17KB
• dlth-20240118_pre.xml (EX-101.PRE) — 11KB
• d716111d8k_htm.xml (XML) — 3KB

02

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On January 18, 2024, the Board of Directors of Duluth Holdings Inc. (the "Company") appointed Heena Agrawal as Senior Vice President and Chief Financial Officer of the Company, effective February 12, 2024. Ms. Agrawal, age 48, has served as the Chief Financial Officer, Global Wrangler and Global Kontoor Supply Chain of Kontoor Brands, Inc. since January 2023 and served as Chief Financial Officer, Global Wrangler of Kontoor Brands, Inc. since September 2021. Prior to that, Ms. Agrawal worked at Underwriters Laboratories as Global Segment Chief Financial Officer, Industrial Segment from February 2021 to September 2021 and as Global Division Chief Financial Officer, Connected Technology Appliances & Lighting from October 2019 to February 2021, as well as various leadership positions at Walgreens Boots Alliance from January 2012 to September 2019, most recently serving as Synergy Leader M&A Integration: Rite Aid from 2018 to September 2019 and at Procter & Gamble from 2001 to 2011. Ms. Agrawal earned an MBA from Indiana University, a Bachelor of Commerce, Accounting & Taxation from the Narsee Monjee College of Commerce & Economics in Bombay, India, and has certifications as a CPA (inactive) and CFA. Since February 1, 2021, there have been no transactions, and there are no currently proposed transactions, to which the Company was or is a participant and in which Ms. Agrawal had or is to have a direct or indirect material interest that would require disclosure pursuant to Item 404(a) of Regulation S-K. Ms. Agrawal is not related to any member of the Board of Directors of the Company or any executive officer of the Company. In consideration of Ms. Agrawal's employment with the Company, Ms. Agrawal will receive, among other things, the following as described in her offer letter: An annualized base salary of $4

Financial Statements and Exhibits

Financial Statements and Exhibits (d) Exhibits. Exhibit No. Description 10.1 Offer Letter dated January 17, 2024 99.1 Press Release dated January 23, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 3

SIGNATURES

SIGNATURES 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. DULUTH HOLDINGS INC. Dated: January 23, 2024 By: /s/ Samuel M. Sato Samuel M. Sato President and Chief Executive Officer 4

View Full Filing

View this 8-K filing on SEC EDGAR