Tilly's Appoints New CFO, Elects Directors, Renews CEO Agreement
Ticker: TLYS · Form: 8-K · Filed: May 29, 2024 · CIK: 1524025
| Field | Detail |
|---|---|
| Company | Tilly'S, Inc. (TLYS) |
| Form Type | 8-K |
| Filed Date | May 29, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001, $376,765, $476,765, $36,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-changes, board-changes, employment-agreement
Related Tickers: TLYS
TL;DR
Tilly's shakes up exec team: new CFO Michael Henry starts June 10, two new directors elected, CEO Daniel Neal's contract renewed.
AI Summary
Tilly's, Inc. announced on May 28, 2024, a series of executive and board changes. These include the appointment of Michael Henry as Chief Financial Officer, effective June 10, 2024, and the election of two new directors, Heather Mallinckrodt and Jonathan Z. Ledecky, to the Board of Directors. Additionally, the company entered into a new employment agreement with its Chief Executive Officer, Daniel G. Neal.
Why It Matters
These executive and board changes could signal a shift in strategic direction or financial oversight for Tilly's, potentially impacting its future performance and investor confidence.
Risk Assessment
Risk Level: medium — Changes in key executive positions and board composition can introduce uncertainty and potential shifts in strategy, which may affect the company's stability and future performance.
Key Players & Entities
- Tilly's, Inc. (company) — Registrant
- Michael Henry (person) — Appointed Chief Financial Officer
- June 10, 2024 (date) — Effective date for CFO appointment
- Heather Mallinckrodt (person) — Elected Director
- Jonathan Z. Ledecky (person) — Elected Director
- Daniel G. Neal (person) — Chief Executive Officer
- May 28, 2024 (date) — Date of Report
FAQ
Who has been appointed as the new Chief Financial Officer of Tilly's, Inc. and when does this appointment become effective?
Michael Henry has been appointed as the new Chief Financial Officer, with his appointment effective June 10, 2024.
Who are the new directors elected to Tilly's, Inc.'s Board of Directors?
Heather Mallinckrodt and Jonathan Z. Ledecky have been elected as new directors to the Board of Directors.
What is the effective date of the report filed by Tilly's, Inc.?
The report was filed as of May 29, 2024, and the date of the earliest event reported is May 28, 2024.
Has Tilly's, Inc. entered into any new agreements with its Chief Executive Officer?
Yes, Tilly's, Inc. entered into a new employment agreement with its Chief Executive Officer, Daniel G. Neal.
What is the principal executive office address for Tilly's, Inc.?
The principal executive offices are located at 10 Whatney, Irvine, California 92618.
Filing Stats: 431 words · 2 min read · ~1 pages · Grade level 12.3 · Accepted 2024-05-29 16:53:04
Key Financial Figures
- $0.001 — which registered Class A Common Stock, $0.001 par value per share TLYS New York Stock
- $376,765 — Financial Officer of the Company, from $376,765 to $476,765 per year, to be effective J
- $476,765 — fficer of the Company, from $376,765 to $476,765 per year, to be effective June 1, 2024
- $36,000 — a one-time cash bonus in the amount of $36,000, in each case, to reflect an increase i
Filing Documents
- tlys-20240528.htm (8-K) — 25KB
- 0001628280-24-025629.txt ( ) — 144KB
- tlys-20240528.xsd (EX-101.SCH) — 2KB
- tlys-20240528_lab.xml (EX-101.LAB) — 21KB
- tlys-20240528_pre.xml (EX-101.PRE) — 12KB
- tlys-20240528_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 May 28, 2024, the Compensation Committee of the Board of Directors of Tilly's, Inc. (the "Company") approved a salary increase for Michael Henry, Executive Vice President and Chief Financial Officer of the Company, from $376,765 to $476,765 per year, to be effective June 1, 2024 and a one-time cash bonus in the amount of $36,000, in each case, to reflect an increase in Mr. Henry's role and responsibilities at the Company.
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: May 29, 2024 By: /s/ Michael L. Henry Name: Michael L. Henry Title: Executive Vice President, Chief Financial Officer