Ollie's Bargain Outlet Files 8-K on Executive Changes

TL;DR

Ollie's Bargain Outlet filed an 8-K detailing executive and director changes.

AI Summary

Ollie's Bargain Outlet Holdings, Inc. filed an 8-K on February 3, 2025, reporting on the departure of directors, election of directors, appointment of officers, and compensatory arrangements. The filing also covers other events and financial statements/exhibits, with the earliest event reported as February 2, 2025.

Why It Matters

This filing provides insight into potential leadership changes and compensation structures at Ollie's Bargain Outlet, which can impact investor confidence and company strategy.

Risk Assessment

Risk Level: low — This is a routine filing detailing corporate governance and executive appointments, not indicating immediate financial distress or significant operational shifts.

Key Players & Entities

• Ollie's Bargain Outlet Holdings, Inc. (company) — Registrant
• February 2, 2025 (date) — Earliest event reported
• February 3, 2025 (date) — Date of report
• Delaware (jurisdiction) — State of Incorporation

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value OLLI The NASDAQ Stock Mar
• $600,000 — will (i) receive a base salary equal to $600,000, (ii) be eligible for an annual bonus c
• $1,800,000 — g term incentive equity grant valued at $1,800,000 with approximately fifty percent (50%)
• $1.4 million — ons Corp. and related subsidiaries: (a) $1.4 million during the fiscal year ended February 3
• $0.5 million — fiscal year ended February 3, 2024, and $0.5 million during the thirty-nine weeks ended Nove
• $775,000 — will (i) receive a base salary equal to $775,000, (ii) be eligible for an annual bonus c
• $3,200,000 — g term incentive equity grant valued at $3,200,000 with approximately fifty percent (50%)

Filing Documents

• ef20042683_8k.htm (8-K) — 51KB
• ef20042683_ex10-1.htm (EX-10.1) — 127KB
• ef20042683_ex10-2.htm (EX-10.2) — 123KB
• ef20042683_ex99-1.htm (EX-99.1) — 7KB
• image0.jpg (GRAPHIC) — 247KB
• 0001140361-25-002804.txt ( ) — 861KB
• olli-20250202.xsd (EX-101.SCH) — 4KB
• olli-20250202_lab.xml (EX-101.LAB) — 21KB
• olli-20250202_pre.xml (EX-101.PRE) — 16KB
• ef20042683_8k_htm.xml (XML) — 4KB

02

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On February 3, 2025, Ollie's Bargain Outlet Holdings, Inc. (the "Company") announced the effectiveness of the previously disclosed transition of John Swygert from Chief Executive Officer to Executive Chairman ("Executive Chairman") of the Board of Directors of the Company (the "Board") and the promotion of Eric van der Valk from President to President and Chief Executive Officer of the Company, with each transition to occur concurrently as of February 2, 2025 (the "Effective Date"). In connection with his new role, Mr. Swygert will serve as Executive Chairman of the Board. In addition, as of the Effective Date, the Board fixed the number of directors at 10 and appointed Mr. van der Valk as a member of the Board. At this time, Mr. Swygert and Mr. van der Valk do not serve on any committees of the Board and will not receive any compensation other than as set forth in their respective employment agreements described below. Executive Chairman Arrangements Mr. Swygert, 55, served as the Company's Chief Executive Officer since December 2019, and also served as the Company's President from December 2019 to June 2024. Prior to his tenure as President and Chief Executive Officer, Mr. Swygert served the Company as Executive Vice President and Chief Operating Officer since 2018. Mr. Swygert joined the Company in March 2004 as Chief Financial Officer and was promoted to Executive Vice President and Chief Financial Officer in 2011. Mr. Swygert has worked in discount retail for over 30 years. Prior to joining the Company, Mr. Swygert was Executive Vice President and Chief Financial Officer at Factory 2-U Stores, Inc. Prior to this, Mr. Swygert held several positions of increasing authority at Factory 2-U Stores, Inc. from 1992, including Staff Accountant, Assistant Controller, Controller, Director of Financial Planning

01

Item 8.01 Other Events. On February 3, 2025, the Company issued a press release relating to the appointments of Mr. Swygert and Mr. van der Valk described in Item 5.02 above. A copy of such press release is filed as Exhibit 99.1 to this Current Report on Form 8-K.

01

Item 9.01

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. The following exhibits are filed with this report: EXHIBIT INDEX Exhibit No. Description 10.1 Employment Agreement by and between Ollie's Bargain Outlet, Inc. and John Swygert. 10.2 Employment Agreement by and between Ollie's Bargain Outlet, Inc. and Eric van der Valk. 99.1 Press Release dated February 3, 2025. 104 Cover Page Interactive Data File - the cover page XBRL 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. OLLIE'S BARGAIN OUTLET HOLDINGS, INC. Date: February 3, 2025 By: /s/ James J. Comitale Name: James J. Comitale Title: Senior Vice President, General Counsel & Corporate Secretary