---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-066928"
form_type: "8-K"
ticker: "CTRN"
cik: "0001318484"
company_name: "Citi Trends Inc"
filed_at: "2024-05-31T23:59:59+00:00"
generated_at: "2026-06-01T07:06:01.374063+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Citi Trends CEO Makuen steps down; preliminary Q1 EBITDA loss $0.8M, comps up 3.1%

## Summary
- David Makuen stepped down as CEO and Board member effective June 1, 2024; serves as Senior Advisor through Aug 3, 2024.
- Ken Seipel appointed Interim CEO effective June 2, 2024; base salary $725K, starting bonus $70K, $400K stock award.
- Preliminary Q1 total sales $186.3M, same-store sales +3.1%, EBITDA loss $0.8M.
- Board initiates search for permanent CEO; Seipel will be considered alongside external candidates.
- Separation agreement with Makuen provides severance per existing agreement; no disagreement cited.

## SEC filing metadata
- accession: 0001104659-24-066928
- form_type: 8-K
- ticker: CTRN
- cik: 0001318484
- company_name: Citi Trends Inc
- filed_at: 2024-05-31T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1318484/000110465924066928/0001104659-24-066928-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1318484/000110465924066928/tm2415984d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-066928
- JSON: https://secwatch.observer/filing/0001104659-24-066928.json
- Plain text: https://secwatch.observer/filing/0001104659-24-066928.txt

## Key facts
- Executive change
  David N. Makuen resigned as Chief Executive Officer at Citi Trends Inc.
  - Action: resigned
  - Role: Chief Executive Officer
  source text: On May 29, 2024, the Board determined that David N. Makuen would transition from the role of Chief Executive Officer, effective June 1, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1318484/000110465924066928/0001104659-24-066928-index.htm
- Executive change
  Kenneth D. Seipel was appointed as Interim Chief Executive Officer at Citi Trends Inc.
  - Action: appointed
  - Role: Interim Chief Executive Officer
  source text: appointed Kenneth D. Seipel, a current member of the Board, to the position of Interim Chief Executive Officer, effective as of June 2, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1318484/000110465924066928/0001104659-24-066928-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.