Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) On March 13, 2019, Holly Alden informed the Board of Directors (the “Board”) of Destination Maternity Corporation (the “Company”) that she had decided to resign from the Board, effective immediately. Ms. Alden’s resignation is not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
(d) On March 18, 2019, the Board appointed Lisa Gavales to the Board of the Company to fill the vacancy created by the resignation of Ms. Alden. Ms. Gavales will serve as a member of the Company’s Nominating and Corporate Governance Committee. There are no arrangements or understandings between Ms. Gavales and any other persons pursuant to which she was appointed as a director of the Company, she has no family relationships with any of the Company’s directors or executive officers, and she is not a party to, and she does not have any direct or indirect material interest in, any transaction requiring disclosure under Item 404(a) of RegulationS-K.
In connection with the appointment of Ms. Gavales as anon-employee director of the Company, the Board granted her 4,000 shares of restricted stock pursuant to the Company’s 2005 Equity Incentive Plan. These shares of restricted stock will vest on the first anniversary of the grant date.
Item 7.01. Regulation FD Disclosure.
On March 18, 2019, the Company issued a press release in connection with the appointment of Ms. Gavales as a director. A copy of the press release is furnished as exhibit 99.1 hereto.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.