Destination XL Names New CFO, Grants Stock Awards
Ticker: DXLG · Form: 8-K · Filed: Sep 4, 2024 · CIK: 813298
Sentiment: neutral
Topics: executive-appointment, compensation, cfo
Related Tickers: DXLG
TL;DR
DXLG just hired a new CFO, Christopher Roney, starting Sept 9th. He's getting $375k base + bonus + 150k RSUs.
AI Summary
On September 3, 2024, Destination XL Group, Inc. announced the appointment of Christopher J. Roney as Chief Financial Officer, effective September 9, 2024. Roney will receive an annual base salary of $375,000 and will be eligible for an annual bonus. He will also be granted 150,000 restricted stock units, vesting over three years.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence.
Risk Assessment
Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $375,000 — CFO Base Salary (Annual compensation for the new Chief Financial Officer.)
- 150,000 — RSUs Granted (Stock units awarded to the new CFO, vesting over three years.)
Key Players & Entities
- Destination XL Group, Inc. (company) — The company filing the report.
- Christopher J. Roney (person) — Newly appointed Chief Financial Officer.
- $375,000 (dollar_amount) — Annual base salary for the new CFO.
- 150,000 (dollar_amount) — Number of restricted stock units granted to the new CFO.
- September 3, 2024 (date) — Date of the report.
- September 9, 2024 (date) — Effective date of the new CFO's appointment.
FAQ
Who has been appointed as the new Chief Financial Officer?
Christopher J. Roney has been appointed as the new Chief Financial Officer.
When is the new CFO's appointment effective?
The appointment of Christopher J. Roney is effective September 9, 2024.
What is the annual base salary for the new CFO?
The annual base salary for Christopher J. Roney is $375,000.
What equity awards will the new CFO receive?
Christopher J. Roney will be granted 150,000 restricted stock units, which will vest over three years.
Is the new CFO eligible for a bonus?
Yes, Christopher J. Roney will be eligible for an annual bonus.
Filing Stats: 471 words · 2 min read · ~2 pages · Grade level 11.2 · Accepted 2024-09-04 07:02:10
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share DXLG The Nasdaq Stock Mar
- $15.0 million — which the Company may repurchase up to $15.0 million (inclusive of commissions and excise ta
Filing Documents
- dxlg-20240903.htm (8-K) — 34KB
- 0000950170-24-103096.txt ( ) — 141KB
- dxlg-20240903.xsd (EX-101.SCH) — 23KB
- dxlg-20240903_htm.xml (XML) — 4KB
01 Other Information
Item 8.01 Other Information. On September 3, 2024, the Board of Directors of Destination XL Group, Inc. (the "Company") approved a stock repurchase program, pursuant to which the Company may repurchase up to $15.0 million (inclusive of commissions and excise taxes) of its common stock through open market and privately negotiated transactions. The timing and the amount of any repurchases of common stock will be determined based on the Company's evaluation of market conditions and other factors. The stock repurchase program will expire on February 1, 2025. The stock repurchase program may be suspended, terminated or modified at any time for any reason. The Company expects to finance the repurchases from operating funds. Any repurchased common stock will be held as treasury stock.
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 thereunto duly authorized. Destination XL Group, Inc. Date: September 4, 2024 By: /s/ Robert S. Molloy Robert S. Molloy General Counsel and Secretary