0001193125-16-429053.txt : 20160113 0001193125-16-429053.hdr.sgml : 20160113 20160113172833 ACCESSION NUMBER: 0001193125-16-429053 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20160107 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20160113 DATE AS OF CHANGE: 20160113 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ICONIX BRAND GROUP, INC. CENTRAL INDEX KEY: 0000857737 STANDARD INDUSTRIAL CLASSIFICATION: FOOTWEAR, (NO RUBBER) [3140] IRS NUMBER: 112481903 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10593 FILM NUMBER: 161341421 BUSINESS ADDRESS: STREET 1: 1450 BROADWAY, 4TH FL CITY: NEW YORK STATE: NY ZIP: 10018 BUSINESS PHONE: 212-730-0030 MAIL ADDRESS: STREET 1: 1450 BROADWAY, 4TH FL CITY: NEW YORK STATE: NY ZIP: 10018 FORMER COMPANY: FORMER CONFORMED NAME: CANDIES INC DATE OF NAME CHANGE: 19930604 FORMER COMPANY: FORMER CONFORMED NAME: MILLFELD TRADING CO INC DATE OF NAME CHANGE: 19920703 8-K 1 d244039d8k.htm FORM 8-K Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15 (d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 7, 2016

 

 

ICONIX BRAND GROUP, INC.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-10593   11-2481903

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

1450 Broadway, New York, New York   10018
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s telephone number, including area code (212) 730-0030

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Other Officers

(e) Iconix Brand Group, Inc. (the “Company”) established a retention plan consisting of cash and equity awards. The cash portion of the retention plan consists of approximately $5.1 million for cash awards to employees and the equity portion of the retention plan consists of approximately $1.26 million shares for equity awards to employees, which included named executive officers. The following named executive officers received cash and equity awards in the amounts listed below:

Mr. David Blumberg - Executive Vice President - Head of Strategic Development - $200,000 cash; 155,000 shares underlying of performance stock units

Mr. Dave Jones - Executive Vice President and Chief Financial Officer - $350,000 cash ($150,000 of which was previously paid); 155,000 shares underlying performance stock units

Mr. Jason Schaefer - Executive Vice President and General Counsel - $200,000 cash; 120,000 shares underlying performance stock units

The cash bonuses are to be paid in four equal installments in each quarter of 2016. Such quarterly payments shall be made only if the executive is employed by the Company on the date the payment is due. Additionally, if there is a change of control of the Company, and the executive’s employment is terminated without cause, then all remaining payments under such cash bonus shall be accelerated and shall be immediately due and payable.

The performance stock units cliff vest in three years and are based on total shareholder return (“TSR”) as measured against the TSR peer group set forth in the Company’s proxy statement for its annual meeting held in 2015. The vesting schedule is as follows:

 

TSR of less than 35%

   0% vesting

TSR at 35%

   25% vesting

TSR at 50%

   50% vesting

TSR at 75% or above

   100% vesting

There shall be interpolation on a straight line basis (i.e. linearly interpolated) between 35% and 50% and between 50% and 75% achievement.

These awards are subject to the “double trigger” change of control provision contained in the Company’s Equity Incentive Plan.


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.

 

ICONIX BRAND GROUP, INC.

(Registrant)

By:  

/s/ David K. Jones

Name:   David K. Jones
Title:   Executive Vice President and Chief Financial Officer

Date: January 13, 2016