UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
June 1, 2020 (
(Exact Name of Registrant as Specified in Charter)
(State or Other Jurisdiction of Incorporation)
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As a component of our senior management transition, Shelley Milano was asked to continue with the Company and assist in the transition. In exchange for Ms. Milano’s agreement to do so, on May 29, 2020, L Brands, Inc. entered into a retention arrangement with Ms. Milano (the “Milano Agreement”) under which Ms. Milano will receive a retention bonus of $750,000, to be paid on or around September 30, 2020, provided that Ms. Milano remains employed by the Company on the payment date, and an equivalent increase in her existing severance protection benefit in recognition in her performance of expanded duties.
The foregoing description of the Milano Agreement is qualified in its entirety by reference to the complete text of the Milano Agreement, a copy of which will be filed as an exhibit to the Company’s quarterly report on Form 10-Q for the quarter ending May 2, 2020.
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.
| L Brands, Inc. | ||||
| Date: June 1, 2020 | By: | /s/ Stuart Burgdoerfer | ||
| Name: Stuart Burgdoerfer | ||||
| Title: Executive Vice President and Chief Financial Officer | ||||