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|8-KFeb 5, 4:01 PM ET

Lulu's Fashion Lounge Holdings, Inc. 8-K

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Lulu's Fashion Lounge Appoints Heidi Crane as Chief Financial Officer

What Happened
Lulu’s Fashion Lounge Holdings, Inc. announced that its Board appointed Heidi Crane as permanent Chief Financial Officer, effective February 4, 2026. Ms. Crane had served as the company’s fractional CFO since October 2025 and upon the effective date became the Company’s principal financial officer and principal accounting officer. The company filed an employment agreement and issued a press release on the appointment.

Key Details

  • Appointment effective date: February 4, 2026 (Board action taken Feb 3, 2026).
  • Base salary: $425,000 per year.
  • Annual bonus: target equal to 50% of base salary (actual payout depends on performance and employment on payment date).
  • Initial equity: RSU award for 2026 with a target value of $425,000; number of RSUs based on the Average Closing Stock Price. Vesting: 25% on March 31, 2026; then 12.5% on each of Jun 30, 2026; Sep 30, 2026; Dec 31, 2026; Mar 31, 2027; Jun 30, 2027; and Sep 30, 2027. Unvested RSUs may vest 100% on a qualifying termination or change in control (subject to release).
  • Employment term: Feb 4, 2026–Jan 31, 2027, automatically extends one year unless 60 days’ prior notice is given.
  • Severance: if terminated without Cause (or resigns for Good Reason), eligible for 4 months of base salary, any earned but unpaid annual bonus, a pro‑rata bonus for the year of termination, and COBRA premium reimbursements (up to six months), subject to signing a release.
  • Other provisions: restrictive covenants (non-solicit, non-disparagement), confidentiality/IP assignments, and clawback language consistent with company policy/law.

Why It Matters
This 8‑K formalizes a permanent CFO hire and the compensation package, which affects executive leadership and the company’s expense and equity plan usage. Investors should note the cash salary and bonus targets (affecting future payroll expense) and the RSU award (potential equity dilution and alignment of incentives). The severance, vesting acceleration on certain events, and restrictive covenants are typical protections and incentives that could influence continuity of financial leadership.