secwatch.observer — SEC 8-K summary
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Issuer:     Bath & Body Works, Inc. (BBWI)
CIK:        0000701985
Form:       8-K
Filed at:   2026-09-23T20:23:38+00:00
Accession:  0001193125-26-399454
Event type: leadership
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bath & Body Works awards CEO Heaf $10M PSU grant with stock price hurdles
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- Granted CEO Daniel Heaf 591,366 performance share units with $10M target value on Sep 21, 2026.
- Earns 75%/100%/150%/200% of target if 60-day avg close hits $40/$60/$80/$100 by Sep 20, 2030.
- Earned shares cut 50% if TSR falls below 55th percentile vs S&P 1500 Consumer Discretionary Distribution & Retail.
- Vests Sep 20, 2030 (4th anniversary) subject to continued employment; Change in Control waives TSR governor.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/701985/000119312526399454/0001193125-26-399454-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/701985/000119312526399454/d130416d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-399454

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