Ross Stores extends President/CMO Brian Morrow's term to 2026 with transition to consultant role

ROSS STORES, INC.

Morrow remains President/CMO - dd's through March 31, 2024, then transitions to Consultant through March 31, 2026.
Base salary at least $1,038,500 plus target bonus of 100% of salary as President/CMO; receives $1.5M restricted stock award.
As Consultant, salary is 50% of final salary, target bonus 100% of reduced salary, and continues vesting in equity awards.
If employed through March 2026 or terminated without cause, Morrow and spouse receive 8 years of medical/dental/vision coverage.

item 5.02

Executive movements

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Role change

Brian Morrow

President and Chief Merchandising Officer – dd's

ROST · ROSS STORES, INC.

Effective: 2024-03-31
Filed: July 14, 2022, 7:59 PM ET

The Agreement contemplates that Mr. Morrow will continue to serve in his current position as President and CMO – dd's through March 31, 2024, and will then transition to the position of Consultant and cease to serve as President and CMO – dd's for the remainder of his employment term.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Brian Morrow changed role as President and Chief Merchandising Officer – dd's at ROSS STORES, INC..

Action: will transition
Role: President and Chief Merchandising Officer – dd's

Exact text from the filing

The Agreement contemplates that Mr. Morrow will continue to serve in his current position as President and CMO – dd's through March 31, 2024, and will then transition to the position of Consultant and cease to serve as President and CMO – dd's for the remainder of his employment term.

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Source: SEC EDGAR

accession 0000745732-22-000042

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