secwatch.observer — SEC 8-K summary
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Issuer:     LANDS' END, INC. (LE)
CIK:        0000799288
Form:       8-K
Filed at:   2022-09-12T23:59:59+00:00
Accession:  0001104659-22-099122
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

CEO Jerome Griffith to retire Jan 2023; Andrew J. McLean named CEO-Designate effective Nov 1, 2022
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- Jerome Griffith will retire as CEO at end of fiscal year (Jan 27, 2023), then serve as Executive Vice Chair until May 2023 and Senior Advisor until Jan 2024.
- Andrew J. McLean, formerly of American Eagle Outfitters, appointed CEO-Designate effective Nov 1, 2022 and will become CEO upon Griffith's retirement.
- McLean's compensation: $1,050,000 base salary, target bonus 100% of base, LTI target $2,520,000, plus $2.5M in sign-on equity awards and $600K cash make-whole.
- McLean elected to Board effective Nov 1, 2022 to fill a newly created vacancy.
- Under severance agreement, McLean gets 2x base+bonus (2.5x upon change in control) with 24-30 month payment period.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/799288/000110465922099122/0001104659-22-099122-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/799288/000110465922099122/tm2225560d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-099122

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