Here at footnoted, we’re always fascinated by the odd things that departing executives ask for on their way out the door. One can only imagine the high-powered negotiations that take place over things like the Mercedes, the corporate jet, and even the executive’s office furniture — all things we’ve found in severance agreements over the [...]

Late Thursday, Choice Hotels (CHH), which we’ve footnoted twice since April, announced that it was accelerating its succession plan so that Stephen Joyce (whose appointment Wendy footnoted here) would take over as CEO on June 26. Meanwhile, former CEO Charles Ledsinger Jr. would become vice chairman.
While the release mentioned in passing an after-tax accounting charge [...]

When Steven Madden Ltd. (SHOO) first announced the exit of CEO Jamieson Karson in March, I didn’t think much of the boilerplate in the 8-K stating that
Mr. Karson’s resignation was not the result of any disagreement with the Company’s operations, policies or practices. For the purposes of determining any payments to which Mr. Karson [...]

Sometimes, a disclosure in a recent filing prompts you to dig a bit deeper and look back. That’s exactly what happened when I caught the following disclosure in Brandywine’s (BDN) proxy filed yesterday:
Represents (i) $516,685 for the cost for use of a private aircraft that we provide to Mr. Prentiss as a continuing benefit under [...]

It’s no secret that Gap (GPS), whose brands also include Old Navy and Banana Republic, has been treading water for quite some time. Just take a look at the 10 year chart. And just last week, the company reported an 18% drop in same store sales.
Late yesterday, Gap filed its latest proxy and while much [...]