Item 5. Other Information.
1K characters. Original on sec.gov ·
Item 5. Other Information.
Our directors and officers (as defined in Exchange Act Rule 16a-1(f)) may from time to time enter into plans or other arrangements for the purchase or sale of our shares that are intended to satisfy the affirmative defense conditions of Rule 10b5–1(c) or may represent a non-Rule 10b5-1 trading arrangement under the Exchange Act. On June 10, 2024, Enrique Lores, our President and Chief Executive Officer, adopted a written plan for the sale of up to (i) 317,252 shares of our common stock underlying employee stock options; (ii) 167,098 shares of our common stock underlying time-based restricted stock units; (iii) 54,221 shares of our common stock underlying performance adjusted restricted stock units, plus any additional shares that vest based on the achievement of the relevant performance criteria; and (iv) shares of our common stock underlying any dividend equivalent units that accrue with respect to these awards. The plan is scheduled to commence on September 12, 2024 and is scheduled to expire on June 30, 2025, or on any earlier date on which all of the shares have been sold. The plan is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act.
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