8-KLeadership ChangesExhibits & Filings

Burlington Stores, Inc. 8-K Report, Executive Changes (Nov 16, 2016)

Filed November 16, 2016For Securities:BURL

Summary

Burlington Stores, Inc. (BURL) filed an 8-K on November 16, 2016, to announce a change in its Board of Directors. The company expanded its board from nine to ten members and elected Ted English as a Class I director, effective November 15, 2016. This addition fills a newly created directorship and Mr. English will participate in the company's standard compensation plan for independent, non-management directors. This filing is significant for investors as it indicates a potential expansion of the board's oversight or strategic guidance. While no specific committee assignments for Mr. English were announced, his election is effective immediately and he will stand for re-election at the 2017 annual meeting. The company confirmed there are no disqualifying arrangements or related-party transactions requiring disclosure concerning Mr. English's appointment.

Key Highlights

  • 1Board size increased from nine to ten directors.
  • 2Ted English appointed as a Class I director, effective November 15, 2016.
  • 3Mr. English fills a newly created directorship.
  • 4Mr. English will participate in standard independent director compensation.
  • 5No disqualifying arrangements or related-party transactions disclosed for Mr. English.
  • 6The appointment was publicly announced via press release on November 16, 2016.

Frequently Asked Questions

The filing states that the board size was increased from nine to ten directors, and Ted English was elected to fill the newly created directorship. The specific strategic reasons for the expansion were not detailed in this 8-K filing.

Ted English has been elected as a Class I director, effective November 15, 2016. He will participate in the company's standard compensation arrangements for independent, non-management directors. His specific committee assignments were not determined at the time of filing.

The company explicitly stated in the filing that there are no arrangements or understandings with Mr. English that would require disclosure under Item 404(a) of Regulation S-K, nor are there any transactions in which he has an interest requiring such disclosure.

Mr. English has been elected as a Class I director, and that class of directors will stand for re-election at the Company’s 2017 annual meeting of stockholders.