8-KLeadership ChangesRegulation FDExhibits & Filings

DOLLAR TREE, INC. 8-K Report, Executive Changes (Mar 5, 2025)

Filed March 5, 2025For Securities:DLTR

Summary

Dollar Tree, Inc. (DLTR) announced a significant leadership change via an 8-K filing on March 5, 2025. Stewart Glendinning has been appointed as the new Chief Financial Officer (CFO), effective March 30, 2025. This appointment comes as the company continues to navigate strategic initiatives, including a review of the Family Dollar business. Mr. Glendinning brings extensive financial and operational experience from his previous roles at Express, Inc., Tyson Foods, Inc., and Molson Coors Beverage Company, making him a seasoned executive for this critical position. The filing also details Mr. Glendinning's compensation package, which includes a base salary, performance-based bonuses, and substantial equity awards, reflecting the company's investment in experienced leadership. Investors will be keen to observe how Mr. Glendinning's financial acumen will contribute to Dollar Tree's future performance and its ongoing strategic evaluations.

Key Highlights

  • 1Stewart Glendinning appointed as the new Chief Financial Officer (CFO) effective March 30, 2025.
  • 2Current CFO, Jeffrey A. Davis, will continue in his role until the filing of the fiscal year-end 10-K report.
  • 3Mr. Glendinning has a strong background with prior executive roles at Express, Inc. (CEO) and Tyson Foods, Inc. (EVP & CFO).
  • 4Mr. Glendinning's compensation includes a base salary of $950,000, target annual bonus of 100% of base salary, and significant equity awards totaling $3,900,000 for fiscal 2025.
  • 5Additional cash and equity awards totaling $1,225,000 ($250,000 cash, $975,000 equity) are tied to contributions in the Family Dollar strategic review.
  • 6Mr. Glendinning's employment is at-will, with provisions for executive and retention agreements addressing restrictive covenants, severance, and change-in-control scenarios.
  • 7The company will host an investor conference call on March 26, 2025, to discuss fourth quarter and full fiscal year 2025 financial results.

Frequently Asked Questions

Stewart Glendinning has been appointed as the new Chief Financial Officer of Dollar Tree, Inc., effective March 30, 2025.

Mr. Glendinning will receive an annual base salary of $950,000, is eligible for an annual cash incentive bonus targeted at 100% of his base salary, and will receive fiscal 2025 equity awards valued at $3,900,000 (50% RSUs, 50% PSUs). Additionally, he will receive a $250,000 cash bonus and a one-time equity award of $975,000 related to the Family Dollar strategic review.

Jeffrey A. Davis will continue as CFO through the filing of the Company’s Annual Report on Form 10-K for the fiscal year ended February 1, 2025, and until Mr. Glendinning formally assumes the role.

Mr. Glendinning's employment is on an at-will basis. He will enter into an executive agreement with restrictive covenants and severance provisions, a retention agreement for severance upon a change in control, and the company's standard indemnity agreement.