8-KLeadership ChangesExhibits & Filings

Burlington Stores, Inc. 8-K Report, Executive Changes (Nov 26, 2024)

Filed November 26, 2024For Securities:BURL

Summary

Burlington Stores, Inc. (BURL) announced a key addition to its Board of Directors, Shira Goodman, effective January 1, 2025. Ms. Goodman's appointment includes her role as a member of the Audit Committee. This move is likely aimed at leveraging her expertise to further strengthen the company's governance and financial oversight. Ms. Goodman's compensation aligns with the company's standard independent, non-management director compensation program. This includes an annual retainer for Board service, an additional retainer for her Audit Committee role, and a significant restricted stock unit award. Investors can view the full details of director compensation within BURL's 2024 proxy statement. The company also clarified that there are no undisclosed arrangements or transactions involving Ms. Goodman that would require further disclosure.

Key Highlights

  • 1Shira Goodman appointed to the Board of Directors, effective January 1, 2025.
  • 2Ms. Goodman will also serve as a member of the Audit Committee.
  • 3Standard compensation package for independent directors includes retainers and stock awards.
  • 4Annual retainer for Board service: $95,000.
  • 5Annual retainer for Audit Committee service: $18,000.
  • 6Annual restricted stock unit award with a grant date value of $170,000.
  • 7No undisclosed arrangements or related-party transactions concerning Ms. Goodman.

Frequently Asked Questions

Shira Goodman is a newly appointed member of Burlington Stores, Inc.'s Board of Directors, effective January 1, 2025. Her appointment is significant as it brings new perspectives and potential expertise to the Board, particularly with her role on the Audit Committee, which is crucial for financial oversight and governance.

Ms. Goodman will receive compensation consistent with the company's standard independent, non-management director program. This includes an annual retainer of $95,000 for Board service, an $18,000 annual retainer for her Audit Committee role, and a restricted stock unit award valued at $170,000 on the grant date.

The filing explicitly states that there are no arrangements or understandings between Ms. Goodman and any other persons related to her selection as a director. Furthermore, there are no transactions requiring disclosure under Item 404(a) of Regulation S-K, indicating no identified conflicts of interest or related-party transactions.

Further details regarding Burlington Stores, Inc.'s director compensation practices can be found in the company's proxy statement for its 2024 annual meeting of stockholders, under the section titled 'Director Compensation'.