Lulu's Fashion Lounge Reports Executive Changes & Comp Arrangements

TL;DR

**Lulu's 8-K hints at leadership shake-up and new pay deals, watch for details!**

AI Summary

Lulu's Fashion Lounge Holdings, Inc. filed an 8-K on January 10, 2024, reporting an event on January 5, 2024, related to the departure or election of directors/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 appointed and the specifics of any new compensation plans, as these changes can influence stock valuation.

Why It Matters

Changes in executive leadership and compensation can signal shifts in company strategy or financial health, directly affecting investor confidence and future stock performance.

Risk Assessment

Risk Level: medium — The filing indicates changes in leadership and compensation, which can introduce uncertainty about future company direction and stability, warranting a medium risk level.

Analyst Insight

A smart investor would await further details on the specific personnel changes and compensation structures before making any investment decisions, as this filing is a preliminary notification without full specifics.

Key Numbers

• January 5, 2024 — Date of earliest event reported (The specific date the reported changes in officers/directors and compensatory arrangements occurred.)
• January 10, 2024 — Date of 8-K filing (The date Lulu's Fashion Lounge Holdings, Inc. officially filed this 8-K with the SEC.)

Key Players & Entities

• Lulu's Fashion Lounge Holdings, Inc. (company) — the registrant filing the 8-K
• Delaware (company) — state of incorporation for Lulu's Fashion Lounge Holdings, Inc.
• 001-41059 (dollar_amount) — Commission File Number for Lulu's Fashion Lounge Holdings, Inc.
• 20-8442468 (dollar_amount) — IRS Employer Identification Number for Lulu's Fashion Lounge Holdings, Inc.
• 195 Humboldt Avenue, Chico, California 95928 (company) — address of principal executive offices for Lulu's Fashion Lounge Holdings, Inc.

Forward-Looking Statements

• Lulu's Fashion Lounge Holdings, Inc. will provide more specific details about the executive changes and compensation arrangements in a subsequent filing or press release. (Lulu's Fashion Lounge Holdings, Inc.) — high confidence, target: Q1 2024

FAQ

Key Financial Figures

• $0.001 — Registered Common Stock, par value $0.001 per share LVLU The NASDAQ Stock Mar
• $470,000 — lary will continue at the same level of $470,000 per year. The Second Amendment also ame
• $300,000 — an annual bonus with a target amount of $300,000 per year (actual bonus attained may be
• $7.50 — ten (10) trading days equals or exceeds $7.50 on a date when Mr. Vos remains employed
• $10.00 — ten (10) trading days equals or exceeds $10.00 on a date when Mr. Vos remains employed

Filing Documents

• tm242508d1_8k.htm (8-K) — 42KB
• tm242508d1_ex10-1.htm (EX-10.1) — 51KB
• tm242508d1_ex10-2.htm (EX-10.2) — 41KB
• tm242508d1_ex99-1.htm (EX-99.1) — 10KB
• tm242508d1_8kimg001.jpg (GRAPHIC) — 2KB
• 0001104659-24-002761.txt ( ) — 351KB
• lvlu-20240105.xsd (EX-101.SCH) — 3KB
• lvlu-20240105_lab.xml (EX-101.LAB) — 33KB
• lvlu-20240105_pre.xml (EX-101.PRE) — 22KB
• tm242508d1_8k_htm.xml (XML) — 3KB

02. Departure of Directors or Certain

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Board Leadership Changes On January 5, 2024, David. W. McCreight provided timely notice to the board of directors (the "Board") of Lulu's Fashion Lounge Holdings, Inc. (the "Company") of his election not to renew his term of employment as Executive Chairman of the Board ("Executive Chairman") beyond the conclusion of his initial term, expiring March 6, 2024, in accordance with the terms of his Employment Agreement entered into on November 11, 2022 (the "Employment Agreement"). Under the terms of the Employment Agreement, Mr. McCreight is entitled to receive the Accrued Rights (as defined in the Employment Agreement) consisting of his earned but unpaid base salary through the end of his initial term, reimbursement of any unreimbursed reasonable business expenses incurred prior to the end of his initial term, and any employee benefits he or his dependents were entitled to. Mr. McCreight will continue to serve as a director of the Company. Accordingly, on January 9, 2024, the Board confirmed that Mr. McCreight will conclude his service as Executive Chairman on March 6, 2024 (the "Effective Date"), at the end of the initial term under his Employment Agreement. Additionally, on January 9, 2024, the Board approved the appointment of current director, John Black, as Chairman of the Board of Directors as of the Effective Date. Second Amendment to Employment Agreement with Mr. Vos On January 9, 2024, the Company and Mr. Vos entered into a second amendment to his employment agreement (the "Second Amendment"), effective as of January 9, 2024 (the Amendment Effective Date), which amends his employment agreement dated May 12, 2022, previously filed as Exhibit 10.2 in the Quarterly Report on Form 10-Q on May 17, 2022, as further amended by the Amendment to Employment Agreement, dated March 5, 2023, previously filed a

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. On January 10, 2024, the Company issued a press release announcing the appointment of a new Chief Merchandising Officer, Laura Deady, and the Board changes discussed in Item 5.02 above, which is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information contained or incorporated in this

01 of this Current Report is being furnished, and shall not be deemed "filed" for purposes of Section 18 of the

Item 7.01 of this Current Report is being furnished, and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits The following exhibits are furnished herewith: Exhibit Number Description 10.1 Second Amendment to Employment Agreement, dated as of January 9, 2024, among Lulu's Fashion Lounge Holdings, Inc., Lulu's Fashion Lounge, LLC and Mark Vos. 10.2 Form of Performance Stock Unit Award Grant Notice and Performance Stock Unit Award Agreement. 99.1 Press release issued by Lulu's Fashion Lounge Holdings, Inc. on January 10, 2024. 104 Cover Page Interactive Data File - the cover page burl tags are 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: January 10 , 2024 Lulu's Fashion Lounge Holdings, Inc. By: /s/ Crystal Landsem Crystal Landsem Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR