secwatch.observer — SEC 8-K summary
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Issuer:     BED BATH & BEYOND, INC. (BBBY)
CIK:        0001130713
Form:       8-K
Filed at:   2024-02-20T23:59:59+00:00
Accession:  0001130713-24-000003
Event type: leadership
Sentiment:  positive
Materiality: 0.90
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Beyond, Inc. appoints Marcus Lemonis as Executive Chairman with performance-based stock option award
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- Marcus Lemonis appointed Executive Chairman effective February 20, 2024, having joined the board in October 2023.
- He receives a performance-based stock option award for up to 2,250,000 shares with exercise prices of $45, $50, and $60.
- Award vests only if Beyond's stock price averages at least $45 (500k shares), $50 (750k), or $60 (1M) over 20 consecutive days.
- Stock price rose approximately 72% from $15.04 (Oct 2, 2023) to $25.89 (Feb 16, 2024) since Lemonis joined the board.
- No salary or guaranteed equity; award requires stockholder approval at the 2024 annual meeting.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1130713/000113071324000003/0001130713-24-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1130713/000113071324000003/ostk-20240216.htm
  HTML page:      https://secwatch.observer/filing/0001130713-24-000003

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