8-KLeadership ChangesCorporate ChangesRegulation FD+1

DOLLAR TREE, INC. 8-K Report, Executive Changes (Dec 3, 2020)

Filed December 3, 2020For Securities:DLTR

Summary

Dollar Tree, Inc. (DLTR) announced a change to its Board of Directors on December 3, 2020. Winnie Park was appointed as a new director, effective immediately, filling a vacancy created by an increase in the board's size. Ms. Park is expected to be appointed to board committees, with further details to be disclosed in an amendment. She will receive standard non-employee director compensation. The company also disclosed that two long-serving directors, Thomas A. Saunders III and Carl P. Zeithaml, intend to retire at the 2021 Annual Meeting of Shareholders. Mr. Saunders has been a director since 1993 and Mr. Zeithaml since 2007. In conjunction with these board changes, Dollar Tree's By-Laws were amended to increase the authorized number of directors from twelve to thirteen. This move provides flexibility for future board composition. These announcements were made via a press release on the same date. Investors should note the addition of new expertise to the board and the planned transitions of long-term directors.

Key Highlights

  • 1Winnie Park appointed as a new director to the Board of Directors, effective December 3, 2020.
  • 2The Board of Directors size was increased from twelve to thirteen members through an amendment to the Company's By-Laws.
  • 3Long-serving directors Thomas A. Saunders III and Carl P. Zeithaml announced their intention to retire at the 2021 Annual Meeting of Shareholders.
  • 4Ms. Park will receive compensation consistent with other non-employee directors.
  • 5No material arrangements or transactions exist between Ms. Park and the Company.
  • 6The company will file an amendment to specify Ms. Park's committee assignments.

Frequently Asked Questions

Winnie Park has been appointed as a new director to Dollar Tree's Board of Directors, effective December 3, 2020. Her appointment fills a vacancy created by an increase in the board's size. Specific details about her background and any committee assignments will be provided in a future filing.

The increase in the Board of Directors from twelve to thirteen members, achieved through an amendment to the By-Laws, provides Dollar Tree with greater flexibility in managing its board composition and potentially adding diverse expertise as the company evolves.

Directors Thomas A. Saunders III and Carl P. Zeithaml intend to retire from the Board of Directors effective at the 2021 Annual Meeting of Shareholders.

No, Ms. Park will be eligible to receive compensation for her service on the Board of Directors consistent with that provided to all other non-employee directors, as previously described in the Company's proxy statement.