Tilly's Reports Officer Changes & Compensation Arrangements

TL;DR

**Tilly's reported officer changes and new compensation plans effective January 21, 2024, signaling potential strategic shifts.**

AI Summary

TILLY'S, INC. filed an 8-K on February 15, 2024, reporting events that occurred on January 21, 2024. The filing indicates changes in directors or certain officers, including departures, elections, and appointments, alongside new compensatory arrangements for certain officers. Specific names and dollar amounts related to these changes are not detailed in this filing snippet.

Why It Matters

Changes in leadership and executive compensation can signal shifts in company strategy or performance, potentially impacting investor confidence and future operational direction. Investors will watch for further details on who is departing or joining and the specifics of new compensation plans.

Risk Assessment

Risk Level: medium — While officer changes can introduce uncertainty, the filing does not provide details that suggest immediate high risk or significant positive impact, making it a neutral medium risk event.

Key Players & Entities

• TILLY'S, INC. (company) — registrant
• January 21, 2024 (date) — date of earliest event reported
• February 15, 2024 (date) — filing date

FAQ

Key Financial Figures

• $0.001 — which registered Class A Common Stock, $0.001 par value per share TLYS New York Stock
• $667,000 — nst the Company and its affiliates: (i) $667,000, payable in substantially equal monthly

Filing Documents

• tlys-20240121.htm (8-K) — 32KB
• exhibit101-separationagree.htm (EX-10.1) — 81KB
• 0001628280-24-005118.txt ( ) — 255KB
• tlys-20240121.xsd (EX-101.SCH) — 2KB
• tlys-20240121_lab.xml (EX-101.LAB) — 23KB
• tlys-20240121_pre.xml (EX-101.PRE) — 12KB
• tlys-20240121_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 February 15, 2024, the Company entered into an employment separation and release agreement (the " Separation Agreement ") with Edmond Thomas. Pursuant to the Separation Agreement, Mr. Thomas will be entitled to the following separation payments and benefits, provided he executes and does not revoke a general release of claims against the Company and its affiliates: (i) $667,000, payable in substantially equal monthly installments for the 12-month period following the Separation Date; (ii) all Company equity awards held by Mr. Thomas that are outstanding as of the Separation Date will vest in full and will remain exercisable in accordance with the award agreements pursuant to which such awards were granted; and (iii) Company-subsidized COBRA coverage for up to 12 months following the Separation Date. The foregoing separation payments and benefits also are subject to Mr. Thomas's continued compliance with the restrictive covenants set forth in the Separation Agreement. The foregoing description of the Separation Agreement does not purport to be complete and is qualified in its entirety by the text of the agreement, which is attached hereto as Exhibit 10.1 and incorporated herein by reference.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Exhibit Title or Description 10.1 Employment Separation and Release Agreement, dated as of February 15, 2024, by and between Tilly's, Inc. and Edmond Thomas. 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. TILLY'S, INC. Date: February 15, 2024 By: /s/ Michael L. Henry Name: Michael L. Henry Title: Executive Vice President, Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR