Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

As previously disclosed in a Current Report on Form 8-K filed with the Securities and Exchange Commission on March 7, 2024, on March 5, 2024, the Board of Directors (the "Board") of Tile Shop Holdings, Inc. (the "Company") appointed Mark B. Davis, current Vice President, Investor Relations, and Chief Accounting Officer (Principal Accounting Officer)of the Company, as Senior Vice President, Chief Financial Officer and Secretary of the Company, effective as of April 1, 2024. In connection with such appointment, on March 18, 2024, the Company and Mr. Davis entered into an amendment (the "Amendment") to Mr. Davis's employment agreement, dated September 6, 2019, to, among other things, reflect Mr. Davis's new title; provide for annual base salary of $300,000, paid in accordance with the Company's normal payroll procedures; amend Mr. Davis's target annual cash incentive compensation opportunity to provide a target of 50% of his base salary and his equity awards; and revise Mr. Davis's equity awards to provide for a grant of equity awards with an aggregate value of $200,000.

The description of the Amendment contained herein does not purport to be complete and is subject to, and qualified in its entirety by reference to, the full text of the Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

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Tile Shop Holdings Inc. published this content on 18 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 March 2024 10:10:08 UTC.