Lands’ End Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
November 02 2022 - 4:30PM
Lands’ End, Inc. (Nasdaq: LE) today reported that it made the
following inducement grants to Andrew J. McLean on November 1,
2022, in connection with his commencement of employment and
appointment as Chief Executive Officer – Designate. The grants were
not made under a shareholder approved equity plan and were
previously described in a Current Report on Form 8-K filed by
Lands’ End with the Securities and Exchange Commission on September
12, 2022.
Mr. McLean’s inducement grants consist of an inducement sign-on
grant of 115,633 restricted stock units, payable in the form of
shares of Lands’ End, Inc. common stock (“Common Stock”), and an
inducement sign-on grant of options to purchase up to 168,081
shares of Common Stock at an exercise price equal to $10.81 per
share, which in each case will vest 25%, 25% and 50% per year, on,
respectively, the first three anniversaries of Mr. McLean’s
November 1, 2022 start date, subject to his satisfaction of vesting
conditions.
About Lands’ End, Inc.
Lands’ End, Inc. (NASDAQ:LE) is a leading uni-channel retailer
of casual clothing, accessories, footwear and home products. We
offer products online at www.landsend.com, through our own Company
Operated stores and through third-party distribution channels. We
are a classic American lifestyle brand with a passion for quality,
legendary service and real value. We seek to deliver timeless style
for women, men, kids and the home.
CONTACTS
Lands’ End, Inc.James GoochPresident and Chief Financial
Officer(608) 935-9341
Investor Relations:ICR, Inc.Bruce Williams(332)
242-4303Bruce.Williams@icrinc.com
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