Financial Results - Citi Trends, Inc. announced preliminary financial results for Q3 fiscal 2024, with specific figures to be detailed in the attached press release[5]. Executive Appointments - Kenneth D. Seipel has been appointed as the permanent Chief Executive Officer, effective November 18, 2024, after serving as Interim CEO[7]. - The Board appointed Peter Sachse as Chairman of the Board, effective November 18, 2024, following Mr. Seipel's appointment[13]. Compensation and Incentives - Mr. Seipel's annual base salary is set at $725,000, with a potential annual cash incentive of up to 200% of a prorated target amount based on earnings performance[9]. - The company plans to grant Mr. Seipel 80,000 restricted shares of common stock, vesting over three years, and an additional performance-based grant of approximately 321,500 restricted shares[9]. - The performance-based shares will vest based on achieving specific stock price hurdles, each representing a 20% increase in stock price over a three-year period[9]. Press Release - The press release regarding the CEO appointment and preliminary financial results is incorporated into the current report[14].
Citi Trends(CTRN) - 2025 Q3 - Quarterly Results