8-K
J.Jill, Inc. (JILL)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15\(d\)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): September 30, 2020
J.JILL, INC.
\(Exact name of registrant as specified in its charter\)
| Delaware<br><br> (State or other jurisdiction<br><br> of incorporation) | 001-38026<br><br> (Commission File Number) | 45-1459825<br><br> (I.R.S. Employer Identification No.) |
|---|
4 Batterymarch Park
Quincy, MA 02169
\(Address of principal executive offices\) \(Zip Code\)
(617) 376-4300
\(Registrant’s telephone number, including area code\)
Not Applicable
\(Former name or former address, if changed since last report\)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12\(b\) of the Act:
| Title of each class: | Trading Symbol(s) | Name of each exchange on which registered: |
|---|---|---|
| Common Stock, $0.01 par value | JILL | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory<br> Arrangements of Certain Officers. |
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On March 30, 2020, J.Jill, Inc. (the “Company”) announced a reduction of base salaries for the Company’s executive officers and all exempt employees, effective April 12, 2020, and a waiver of board of directors (the “Board of Directors”) fees to preserve financial liquidity in response to the COVID-19 pandemic. These efforts, among other cost cutting initiatives, helped the Company manage challenges related to the COVID-19 pandemic and better positioned the Company for sustainable growth.
Base salaries for exempt employees and fees for members of the Board of Director will be reinstated to their previous levels, effective October 4, 2020.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: September 30, 2020
| J.JILL, INC. | |
|---|---|
| By: | /s/ Vijay Moses |
| Name: | Vijay Moses |
| Title: | Vice President, General Counsel and Secretary |