Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nasdaq  >  Lifetime Brands Inc    LCUT

LIFETIME BRANDS INC (LCUT)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets
OFFRE ETE Zonebourse : Jusqu'à 6 mois offerts sur tous les portefeuilles
The feature you requested does not exist. However, we suggest the following feature:

LIFETIME BRANDS, INC : Change in Directors or Principal Officers, Other Events (form 8-K)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
06/12/2018 | 10:16pm CEST

ITEM 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.

(b) Departure of Principal Operating Officer

On June 11, 2018, Ronald Shiftan, the Vice Chairman of the Board of Directors (the "Board") and Chief Operating Officer of Lifetime Brands, Inc. (the "Company"), informed the Company of his retirement as an officer of the Company, effective March 15, 2019 (the "Retirement Date").

(e) Compensatory Arrangements of Principal Operating Officer

In connection with his retirement, the Company and Mr. Shiftan entered into a Retirement Agreement (the "Retirement Agreement") setting forth the terms of his continued employment through the Retirement Date. Prior to the Retirement Date, the Company and Mr. Shiftan agreed that neither will terminate Mr. Shiftan's employment pursuant to the Third Amended and Restated Employment Agreement by and between the Company and Mr. Shiftan, dated as of November 24, 2015, including amendments through November 8, 2017 (the "Employment Agreement"), except by the Company for cause, by Mr. Shiftan for good reason, by either of them on account of disability, or by reason of Mr. Shiftan's death.

During the period from June 11, 2018 through the Retirement Date (the "Transition Period"), Mr. Shiftan will continue to perform such duties as may be assigned to him by the Company's Chief Executive Officer, provided that during the period from January 1, 2019 through the Retirement Date, his time commitment will be reduced to 50% of what it had been over the prior 36 months.

Unless his employment is terminated as described above, through the Retirement Date, Mr. Shiftan will remain Vice Chairman of the Board (subject to re-election to the Board at the Company's 2018 Annual Meeting of Stockholders scheduled to be held on June 28, 2018) and Chief Operating Officer, and will continue to be entitled to receive his base salary and expense reimbursement, automobile, vacation, pension, insurance and other benefits provided pursuant to the Employment Agreement and continued vesting of his previously granted equity awards. The Company will continue to pay him 100% of his base salary pursuant to the Employment Agreement through December 31, 2018, and then for the remainder of the Transition Period will pay him at the rate of 50% of such base salary. His 2018 bonus eligibility will be determined and paid in accordance with the Employment Agreement, provided that he will not be entitled to any other bonus compensation, including in respect of the portion of the year that he works in 2019.

On or following the Retirement Date, as long as Mr. Shiftan remains employed by the Company until the Retirement Date, (i) his unvested time-based equity awards will vest, (ii) his performance-based equity awards will vest to the extent that the applicable performance goals were obtained and pro-rated for the portion of the performance period ending on the Retirement Date, (iii) he will receive a lump sum payment equal to the sum of (a) $650,000 and (b) the average of the bonuses paid to him pursuant to the Employment Agreement for each of 2016, 2017 and 2018, (iv) he will receive reimbursement of up to six months of rental payments on an apartment that he maintains near the Company's principal offices, and (v) he will be permitted to serve out the remainder of his term as a member of the Board (subject to the Board's right to remove him for cause), in each case upon the effectiveness of a customary release executed by him on or after the Retirement Date but no later than April 22, 2019.

Following the Retirement Date, Mr. Shiftan will remain subject to the non-competition and non-solicitation obligations set forth in the Employment Agreement.

The foregoing description is qualified in its entirety by the Retirement Agreement, which is filed as Exhibit 10.1 hereto and hereby incorporated by reference herein.



                                       2

--------------------------------------------------------------------------------

ITEM 8.01. OTHER EVENTS.

On June 12, 2018, the Company issued a press release to announce Mr. Shiftan's retirement. A copy of the press release is filed as Exhibit 99.1 hereto and hereby incorporated by reference herein.

© Edgar Online, source Glimpses

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on LIFETIME BRANDS INC
06/12LIFETIME BRANDS, INC : Change in Directors or Principal Officers, Other Events (..
AQ
06/12LIFETIME BRANDS : Announces Retirement of Vice Chairman and Chief Operating Offi..
AQ
05/31Lifetime Brands to Present at Stifel Cross Sector Insight Conference on June ..
GL
05/18LIFETIME BRANDS : Completion of Acquisition or Disposition of Assets, Financial ..
AQ
05/09LIFETIME BRANDS : Management's Discussion and Analysis of Financial Condition an..
AQ
05/08LIFETIME BRANDS, INC. (NASDAQ : LCUT) Files An 8-K Results of Operations and Fin..
AQ
05/08LIFETIME BRANDS, INC : Results of Operations and Financial Condition, Financial ..
AQ
05/08LIFETIME BRANDS : 1Q Earnings Snapshot
AQ
05/08Lifetime Brands, Inc. Reports First Quarter Financial Results
GL
04/30LIFETIME BRANDS INC : Ex-dividend day for
FA
More news
News from SeekingAlpha
06/12Lifetime Brands COO to retire 
05/11Lifetime Brands' (LCUT) CEO Robert Kay on Q1 2018 Results - Earnings Call Tra.. 
05/08CONSUMER - TOP 5 GAINERS / LOSERS AS : 00 pm (05/08/2018) 
05/08More on Lifetime Brands's Q1 mixed results 
05/08Lifetime Brands misses by $0.32, beats on revenue 
Financials ($)
Sales 2018 740 M
EBIT 2018 -
Net income 2018 -
Debt 2018 -
Yield 2018 -
P/E ratio 2018 7,42
P/E ratio 2019 5,77
Capi. / Sales 2018 0,33x
Capi. / Sales 2019 0,30x
Capitalization 242 M
Chart LIFETIME BRANDS INC
Duration : Period :
Lifetime Brands Inc Technical Analysis Chart | LCUT | US53222Q1031 | 4-Traders
Technical analysis trends LIFETIME BRANDS INC
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
EPS Revisions
Managers
NameTitle
Robert B. Kay Chief Executive Officer & Director
Daniel T. Siegel President
Jeffrey Siegel Executive Chairman
Ronald H. Shiftan Vice Chairman & Chief Operating Officer
Laurence Winoker CFO, Treasurer, Principal Accounting Officer & SVP
Sector and Competitors
1st jan.Capitalization (M$)
LIFETIME BRANDS INC-29.39%242
MIDEA GROUP CO LTD--.--%57 521
GREE ELECTRIC APPLIANCES INC OF ZHUHAI--.--%45 728
QINGDAO HAIER9.50%19 510
NEWELL BRANDS-15.70%12 652
YUNDA HOLDING CO LTD--.--%11 324