Express, Inc. Awards Inducement Grant to Chief Executive Officer in Connection With Recent Appointment
October 13 2023 - 3:15PM
Business Wire
Fashion apparel retailer Express, Inc. (NYSE: EXPR) today
announced that, in connection with Stewart Glendinning’s recent
appointment as Chief Executive Officer effective September 15,
2023, and as previously reported on a Current Report on Form 8-K
filed with the SEC on September 11, 2023, the Company will grant
Mr. Glendinning an award of 150,000 performance-based restricted
stock units (“PSUs”). The PSUs will be granted on October 15, 2023,
and will become eligible to vest (with a maximum payout of 200% of
target) on the last day of fiscal 2026 based on the Company’s stock
price performance during the period between the grant date and the
last day of fiscal 2026, subject to Mr. Glendinning’s continued
employment with Express through the vesting date. Express agreed to
make this award as an inducement material to Mr. Glendinning’s
acceptance of employment as Chief Executive Officer, pursuant to
Section 303.08A of the New York Stock Exchange Listed Company
Manual.
About EXPR
EXPR is a multi-brand fashion retailer whose portfolio includes
Express, Bonobos and UpWest. The Company operates an omnichannel
platform as well as physical and online stores. Grounded in a
belief that style, quality and value should all be found in one
place, Express is a brand with a purpose - We Create Confidence. We
Inspire Self-Expression. - powered by a styling community. Bonobos
is a menswear brand known for exceptional fit and an innovative
retail model. UpWest is an apparel, accessories and home goods
brand with a purpose to Provide Comfort for People &
Planet.
The Company has 530 Express retail and Express Factory Outlet
stores in the United States and Puerto Rico, the Express.com online
store and the Express mobile app; 60 Bonobos Guideshop locations
and the Bonobos.com online store; and 11 UpWest retail stores and
the UpWest.com online store. EXPR is traded on the NYSE under the
symbol EXPR. For more information about our Company, please visit
www.express.com/investor and for more information about our brands,
please visit www.express.com, www.bonobos.com or
www.upwest.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20231013077541/en/
Investor Contact Greg Johnson VP, Investor Relations
gjohnson@express.com 614-474-4890
Media Sarah Gordon SHADOW 212-972-0277 x4077
sgordon@weareshadow.com / expressbiz@weareshadow.com
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