Five Below Names New CFO, Frank Conforti
Ticker: FIVE · Form: 8-K · Filed: Sep 18, 2024 · CIK: 1177609
| Field | Detail |
|---|---|
| Company | Five Below, Inc (FIVE) |
| Form Type | 8-K |
| Filed Date | Sep 18, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $821,445 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, cfo, compensation
Related Tickers: MIK
TL;DR
Five Below gets a new CFO, Frank Conforti, starting Oct 7th with a $500K salary + equity.
AI Summary
Five Below, Inc. announced on September 18, 2024, the appointment of Frank J. Conforti as its new Chief Financial Officer, effective October 7, 2024. Conforti previously served as Executive Vice President and Chief Financial Officer at The Michaels Companies, Inc. He will receive an annual base salary of $500,000 and is eligible for a discretionary annual bonus. Additionally, he will be granted an initial equity award of $1,500,000 in the form of restricted stock units.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact investor confidence and the company's financial strategy moving forward.
Risk Assessment
Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $500,000 — CFO Annual Salary (Base compensation for Frank Conforti.)
- $1,500,000 — CFO Equity Award (Initial restricted stock units granted to Frank Conforti.)
Key Players & Entities
- Five Below, Inc. (company) — Registrant
- Frank J. Conforti (person) — Appointed Chief Financial Officer
- October 7, 2024 (date) — Effective date of CFO appointment
- The Michaels Companies, Inc. (company) — Previous employer of new CFO
- $500,000 (dollar_amount) — Annual base salary for new CFO
- $1,500,000 (dollar_amount) — Initial equity award for new CFO
FAQ
Who has been appointed as the new Chief Financial Officer of Five Below, Inc.?
Frank J. Conforti has been appointed as the new Chief Financial Officer of Five Below, Inc.
When will Frank J. Conforti's appointment as CFO be effective?
Frank J. Conforti's appointment as CFO will be effective October 7, 2024.
What was Frank J. Conforti's previous role?
Frank J. Conforti previously served as Executive Vice President and Chief Financial Officer at The Michaels Companies, Inc.
What is the annual base salary for the new CFO?
The annual base salary for the new CFO, Frank J. Conforti, is $500,000.
What is the value of the initial equity award granted to the new CFO?
The initial equity award granted to the new CFO, Frank J. Conforti, is $1,500,000 in the form of restricted stock units.
Filing Stats: 605 words · 2 min read · ~2 pages · Grade level 12.8 · Accepted 2024-09-18 16:56:53
Key Financial Figures
- $821,445 — ims, will receive a lump sum payment of $821,445.53, equal to 12 months of his base sala
Filing Documents
- d868491d8k.htm (8-K) — 26KB
- d868491dex101.htm (EX-10.1) — 22KB
- g868491img1.jpg (GRAPHIC) — 5KB
- 0001193125-24-221442.txt ( ) — 182KB
- five-20240918.xsd (EX-101.SCH) — 3KB
- five-20240918_lab.xml (EX-101.LAB) — 18KB
- five-20240918_pre.xml (EX-101.PRE) — 11KB
- d868491d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 10.1 Cessation Agreement, dated September 18 2024, by and between Five Below, Inc. and Michael F. Romanko. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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. Date: September 18, 2024 Five Below, Inc. By: /s/ Kristy Chipman Name: Kristy Chipman Title: Chief Financial Officer & Treasurer