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): July
25, 2014
THE BON-TON STORES, INC. |
(Exact name of registrant as specified in its charter) |
Pennsylvania |
0-19517 |
23-2835229 |
(State or Other Jurisdiction |
(Commission File Number) |
(IRS Employer Identification No.) |
2801 E. Market Street, York, Pennsylvania 17402 |
(Address of principal executive offices, zip code) |
(717) 757-7660
Registrant’s telephone number, including area
code
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:
⃞ 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 Certain Officers |
(d) Election of Directors
On July 25, 2014, the Board of Directors of The Bon-Ton Stores, Inc. (the “Company”) unanimously elected Daniel T. Motulsky to serve as a member of the Board, effective August 1, 2014.
Mr. Motulsky will receive, on a prorated basis, the Company's standard director compensation arrangements applicable to directors who are not employees of the Company in accordance with the terms of director compensation disclosed in the Company’s Proxy Statement filed with the Securities and Exchange Commission on May 6, 2014.
There was no arrangement or understanding between Mr. Motulsky and any other persons pursuant to which Mr. Motulsky was selected as a director.
In 2013, the Company paid Lazard Freres & Co., for which Mr. Motulsky was a Managing Director and Global Head of Consumer & Retail, a fee of $350,000 in connection with the offering of the Company’s 8.00% Second Lien Senior Secured Notes due 2021.
The election of Mr. Motulsky was announced in the press release attached hereto as Exhibit 99.1 and incorporated by reference herein.
Item 9.01. | Financial Statements and Exhibits. |
(d) | Exhibits |
99.1 Press Release dated July 30, 2014, regarding the election of a new director. |
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 thereunto duly authorized.
THE BON-TON STORES, INC. | |||
Dated: July 30, 2014 | By: | /s/ Keith E. Plowman | |
Name: |
Keith E. Plowman |
||
Title: |
Executive Vice President—Chief Financial Officer |
3
Exhibit 99.1
The Bon-Ton Stores, Inc. Appoints a New Member to Its Board of Directors
YORK, Pa.--(BUSINESS WIRE)--July 30, 2014--The Bon-Ton Stores, Inc. (NASDAQ:BONT) today announced its Board of Directors has unanimously elected Daniel T. Motulsky to its Board, effective August 1, 2014.
Mr. Motulsky, 52, was a Managing Director and Global Head of Consumer & Retail of Lazard from 2000 to June 2014, having joined the firm in 1998. Lazard is a global financial advisory and asset management firm that engages in investment banking, asset management and other financial services primarily with institutional clients.
Prior to his service with Lazard, Mr. Motulsky was a partner of Tanner & Co., Inc., a merchant banking and mergers and acquisitions advisory firm. He previously served as an investment banker with Salomon Brothers Inc and began his career as a software design engineer at VLSI Technology, Inc. Mr. Motulsky received a B.S. with Distinction in Electrical Engineering and Computer Science from Stanford University in 1985.
Tim Grumbacher, Chairman of the Board, stated, “We are very pleased to welcome Dan as a member of our Board of Directors. Dan possesses extraordinary experience in the consumer and retail industries, which I believe will be invaluable to Bon-Ton. We welcome Dan’s insight and counsel as we continue to execute our business strategies for profitable growth and increased shareholder value.”
The Bon-Ton Stores, Inc., with corporate headquarters in York, Pennsylvania and Milwaukee, Wisconsin, operates 272 department stores, which includes 10 furniture galleries, in 25 states in the Northeast, Midwest and upper Great Plains under the Bon-Ton, Bergner’s, Boston Store, Carson’s, Elder-Beerman, Herberger’s and Younkers nameplates. The stores offer a broad assortment of national and private brand fashion apparel and accessories for women, men and children, as well as cosmetics and home furnishings. For further information, please visit the investor relations section of the Company’s website at http://investors.bonton.com.
CONTACT:
The Bon-Ton Stores, Inc.
Mary Kerr, 717-751-3071
Vice
President
Investor & Public Relations
mkerr@bonton.com