Crown Crafts grants CEO Elliott 125K performance shares; subsidiary president gets 62.5K

CROWN CRAFTS INC

CEO Olivia Elliott awarded 125,000 performance shares: 50,000 vest if stock hits $8, 75,000 at $9 per share by March 2027.
NoJo Baby & Kids president Donna Sheridan awarded 62,500 performance shares with same $8 and $9 price hurdles.
Vesting occurs 1/3 on later of earning date and March 1, 2023; 1/3 on 1st anniversary of earning; 1/3 on 2nd anniversary.
Unearned shares forfeited on termination; death/disability accelerates vesting of restricted shares already earned.
Change of control would earn all unearned shares and vest all restricted shares immediately.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Olivia W. Elliott

Chief Executive Officer

CRWS · CROWN CRAFTS INC

Effective: 2022-03-01
Filed: March 1, 2022, 6:59 PM ET

On February 8, 2022, the Company’s Board of Directors (the “Board”) appointed Olivia W. Elliott to serve as the Company’s Chief Executive Officer, effective March 1, 2022.

Role change

E. Randall Chestnut

Chief Executive Officer

CRWS · CROWN CRAFTS INC

Effective: 2022-03-01
Successor: Olivia W. Elliott
Filed: March 1, 2022, 6:59 PM ET

Upon effectiveness of Ms. Elliott’s appointment as Chief Executive Officer, E. Randall Chestnut, who has served as the Company’s Chief Executive Officer since 2001, will no longer serve in such role but will continue to serve as Chairman of the Board.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Olivia W. Elliott was appointed as Chief Executive Officer at CROWN CRAFTS INC.

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On February 8, 2022, the Company’s Board of Directors (the “Board”) appointed Olivia W. Elliott to serve as the Company’s Chief Executive Officer, effective March 1, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

E. Randall Chestnut changed role as Chief Executive Officer at CROWN CRAFTS INC.

Action: will no longer serve
Role: Chief Executive Officer

Exact text from the filing

Upon effectiveness of Ms. Elliott’s appointment as Chief Executive Officer, E. Randall Chestnut, who has served as the Company’s Chief Executive Officer since 2001, will no longer serve in such role but will continue to serve as Chairman of the Board.

View on SEC.gov

CROWN CRAFTS INC filing history →

Source: SEC EDGAR

accession 0001437749-22-004873

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