Five Below Implements Key Employee Retention Program

Five Below (FIVE) just unveiled an announcement.

Five Below, Inc. has initiated a retention program to secure the dedication of its key employees by implementing special awards and salary adjustments. The program includes a mix of cash and equity for executives, with Michael Romanko and others receiving $1.5 million retention awards, partly as restricted stock units, vesting over two years. Additionally, Romanko and Kristy Chipman have seen salary increases, and Romanko is set to receive a performance-based stock unit award contingent on achieving certain goals, with the potential to double the target shares granted.

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