secwatch.observer — SEC 8-K summary
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Issuer:     CROWN CRAFTS INC (CRWS)
CIK:        0000025895
Form:       8-K/A
Filed at:   2022-03-01T23:59:59+00:00
Accession:  0001437749-22-004873
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/25895/000143774922004873/0001437749-22-004873-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/25895/000143774922004873/crws20220301_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-004873

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