Tilly's CFO Departs; Interim Appointed

TL;DR

Tilly's CFO Michael Henry is out Sept 13, Heather Miller steps in as interim. Severance package disclosed.

AI Summary

Tilly's, Inc. announced on September 11, 2024, the departure of its Chief Financial Officer, Michael Henry, effective September 13, 2024. The company has appointed Heather Miller as interim CFO. Tilly's also disclosed compensatory arrangements for its executive officers, including severance benefits for Mr. Henry.

Why It Matters

The unexpected departure of a CFO can signal internal challenges or strategic shifts, potentially impacting investor confidence and the company's financial direction.

Risk Assessment

Risk Level: medium — CFO departures can introduce uncertainty regarding financial strategy and stability.

Key Players & Entities

• Tilly's, Inc. (company) — Registrant
• Michael Henry (person) — Chief Financial Officer
• September 11, 2024 (date) — Announcement Date
• September 13, 2024 (date) — Effective Date of Departure
• Heather Miller (person) — Interim Chief Financial Officer

FAQ

Key Financial Figures

• $0.001 — which registered Class A Common Stock, $0.001 par value per share TLYS New York Stock

Filing Documents

• tlys-20240911.htm (8-K) — 30KB
• shakedappointment.htm (EX-99.1) — 9KB
• tillyslogo.jpg (GRAPHIC) — 14KB
• 0001628280-24-040238.txt ( ) — 177KB
• tlys-20240911.xsd (EX-101.SCH) — 2KB
• tlys-20240911_lab.xml (EX-101.LAB) — 21KB
• tlys-20240911_pre.xml (EX-101.PRE) — 12KB
• tlys-20240911_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 and effective September 11, 2024, the Board of Directors (the "Board") of Tilly's, Inc. (the "Company") appointed Hezy Shaked, the Company's co-founder and Executive Chairman of the Board, as the Company's President and Chief Executive Officer. Mr. Shaked had been serving as the Company's Interim President and Chief Executive Officer since January 21, 2024. No change to Mr. Shaked's compensation was made in connection with Mr. Shaked's appointment, and no material plan, contract or arrangement between Mr. Shaked and the Company was entered into, nor was any grant or award made under any such plan, contract or arrangement. The information required by Items 401(b), (d), and (e) and Item 404(a) of Regulation S-K regarding Mr. Shaked was previously reported in the Company's Definitive Proxy Statement filed with the SEC on April 22, 2024, and is incorporated by reference herein.

01

Item 7.01 Regulation FD Disclosure On September 12, 2024, the Company issued a press release announcing Mr. Shaked's appointment. A copy of this press release is furnished herewith as Exhibit 99.1. Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, regardless of any general incorporation language in such filings.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Exhibit Title or Description 99.1 Press release, dated September 12, 2024 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: September 12, 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