secwatch.observer — SEC 8-K summary
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Issuer:     CALERES INC (CAL)
CIK:        0000014707
Form:       8-K
Filed at:   2022-07-26T23:59:59+00:00
Accession:  0000014707-22-000048
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Caleres CEO Diane Sullivan to retire Jan 15, 2023; President Jay Schmidt to become CEO
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- Diane Sullivan to retire as CEO on Jan 15, 2023, assume role of Executive Chair.
- President Jay Schmidt, age 61, will succeed Sullivan as CEO on that date.
- Schmidt's new compensation: base salary $1M, target cash award 110%, long-term performance award $2M, restricted stock $2M.
- Sullivan as Executive Chair: base salary $800K for FY2023, $500K for FY2024-May 2025, restricted stock $1.5M.
- Succession is culmination of long-planned board process; Sullivan led acquisition/incubation of Sam Edelman, Allen Edmonds, Vionic.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/14707/000001470722000048/0000014707-22-000048-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/14707/000001470722000048/cal-20220720x8k.htm
  HTML page:      https://secwatch.observer/filing/0000014707-22-000048

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer