FIVE BELOW, INC 8-K

What Happened
Five Below, Inc. filed an 8-K on Feb 9, 2026 reporting that executive George S. Hill’s employment ceased on February 3, 2026. On February 8, 2026 the company and Mr. Hill entered into a Separation Agreement confirming severance under the company’s Executive Severance Plan, subject to his signing a general release of claims.

Key Details

• Lump-sum severance payment of $700,000 (equal to 12 months of base salary).
• $20,000 cash payment to offset group healthcare continuation costs (COBRA), plus additional payments of $22,048 and $10,000 for further healthcare offset and outplacement services.
• Mr. Hill will remain available to advise senior management for 90 days after his employment ended and will receive his fiscal 2025 short-term incentive payout based on actual company performance.
• Continued vesting of 3,269 restricted stock units scheduled to vest in March 2026.
• Separation Agreement includes customary cooperation, non‑disparagement, and reaffirms previously agreed non‑solicit, non‑compete, confidentiality and similar covenants.

Why It Matters
This 8-K documents an executive departure and the associated cash and equity costs to the company. The direct cash payout ($700K plus healthcare/outplacement amounts) and the continued vesting of 3,269 RSUs are quantifiable near‑term items investors can expect to affect executive compensation expense. The agreement’s release and covenant provisions are standard and limit future claims or solicitations related to the departure.