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): | ||||||||||||||
(Exact name of registrant as specified in its charter) | ||||||||||||||
| (State or other jurisdiction of | (Commission | (IRS Employer | ||||||||||||
| incorporation) | File Number) | Identification No.) | ||||||||||||
| (Address of principal executive offices) | (Zip Code) | ||||||||||||||||||||||
Registrant's telephone number, including area code (734 ) 242-1444
N/A | |||||||||||
(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:
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
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 Arrangement of Certain Officers.
(d) On October 25, 2021, the Board of Directors (the “Board”) of La-Z-Boy Incorporated (the “Company”) elected Erika L. Alexander to the Board for a term that will expire at the annual meeting of shareholders in 2022. Ms. Alexander is joining the Board as an independent director and will be appointed to one or more Board committees following a review of the Board’s existing committee composition. She will receive the compensation currently paid to non-employee directors, on a pro rata basis for any partial fiscal quarter. The Board approved an equity award grant to Ms. Alexander, under the Company’s 2017 Omnibus Incentive Plan, of restricted stock units with a grant date value of $89,000 effective on the second trading day following the Company’s release of its second quarter fiscal year 2022 earnings release.
A copy of the news release announcing Ms. Alexander's election is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) The following exhibits are furnished as part of this report:
| Description | ||||||||
| 99.1 | ||||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
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.
| LA-Z-BOY INCORPORATED | ||||||||
| (Registrant) | ||||||||
Date: October 26, 2021
| BY: /s/ Raphael Z. Richmond | ||||||||
| Raphael Z. Richmond Vice President, General Counsel, and Chief Compliance Officer | ||||||||
Exhibit 99.1
NEWS RELEASE
Contact: Kathy Liebmann (734) 241-2438 kathy.liebmann@la-z-boy.com
LA-Z-BOY APPOINTS ERIKA ALEXANDER TO BOARD OF DIRECTORS
MONROE, Mich., October 26, 2021—La-Z-Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today announced that Erika Alexander has been named to its Board of Directors, effective on October 25, 2021. The appointment brings the Board to 12 members.
Erika Alexander serves as the Chief Global Officer, Global Operations for Marriott International. In this role, she is responsible for Marriott’s enterprise-wide programs and platforms, such as Quality Assurance, Food & Beverage, Hotel Systems Optimization, Procurement, Sustainability, and Supplier Diversity. Prior to her current role, Ms. Alexander was Chief Lodging Services Officer for The Americas division. She has held a variety of senior leadership roles throughout Marriott, including Area Vice President of Americas - Eastern Region, Account Manager and Director of Sales, as well as a Director of Operations and Hotel General Manager.
Ms. Alexander has extensive experience working with many of Marriott’s iconic brands. She also serves as an associate member of the Inclusion and Social Impact Committee for Marriott International, which is a board-level committee that focuses on the inclusive advancement of women and underrepresented groups throughout the world, company efforts to promote diverse hotel owners, customers and vendors, and company efforts to address environmental, social, and governance (ESG) issues. In addition, Ms. Alexander serves on the executive committee of the board of directors of the Metro Atlanta Chamber of Commerce.
Melinda D. Whittington, President, Chief Executive Officer and Director of La-Z-Boy Incorporated, said, “We are thrilled for Erika to join our Board. With a 32-year history across multiple areas of the Marriott organization, including leadership roles for several of Marriott’s largest brands, Erika will bring a wealth of operational experience, perspective, and expertise to La-Z-Boy as we launch Century Vision, our winning strategy for growth through our centennial year in 2027 and beyond.”
Kurt L. Darrow, Chairman of the Board, said, “Erika’s keen understanding of brands, consumers and the dynamics associated with their ever-evolving needs and preferences will prove invaluable to us as we move forward. She also has expertise in the areas of sustainability and human capital management that will serve us well. Our Board and Executive Leadership Team look forward to working with her and benefitting from the insights she will undoubtedly bring to the company.”
Ms. Alexander’s many achievements and accomplishments include being named an International Women’s Forum Leadership Foundation Fellow, being recognized by the Atlanta Business League as one of the Top 100 Influential Women in Atlanta, and being recognized by the YWCA
as a Corporate Woman of Achievement. A past recipient of the company’s Diversity and Inclusion Trailblazer Award, Erika was also recognized by Diversity Women Media in its first-ever Elite 100 list. She has also served on numerous non-profit boards, including Leadership Atlanta, the Atlanta Children’s Shelter, the International Women’s Forum of Georgia, and The Ron Clark Academy. She holds a BA from the University of Virginia and an MBA from George Mason University.
A full listing of the La-Z-Boy Incorporated Board of Directors may be found at: https://lazboy.gcs-web.com/corporate-governance/board-of-directors.
Additional Information
This news release is just one part of La-Z-Boy’s financial disclosures and should be read in conjunction with other information filed with the Securities and Exchange Commission (SEC), which is available at: https://lazboy.gcs-web.com/financial-information/sec-filings. Investors and others wishing to be notified of future La-Z-Boy news releases, SEC filings and quarterly investor conference calls may sign up at: https://lazboy.gcs-web.com/.
Background Information
La-Z-Boy Incorporated is one of the world’s leading residential furniture producers, marketing furniture for every room of the home. The Wholesale segment includes England, La-Z-Boy, American Drew®, Hammary®, and Kincaid®. The company-owned Retail segment includes 157 of the 352 La-Z-Boy Furniture Galleries® stores. Joybird is an e-commerce retailer and manufacturer of upholstered furniture.
The corporation’s branded distribution network is dedicated to selling La-Z-Boy Incorporated products and brands, and includes 352 stand-alone La-Z-Boy Furniture Galleries® stores and 560 independent Comfort Studio® locations, in addition to in-store gallery programs for the company’s Kincaid and England operating units. Additional information is available at http://www.la-z-boy.com/.