Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On April 1, 2020, Chico's FAS, Inc. (the "Company"), as part of cost-savings efforts to mitigate the operating and financial impact of the COVID-19 pandemic, announced that the Company's executive officers, including the named executive officers currently employed by the Company, agreed to a 50% reduction in base salary beginning April 5, 2020. In light of continuing sales improvements in connection with the Company's phased store reopenings, other cost-saving initiatives underway and the Company's current liquidity forecasts, on June 24, 2020, the Human Resources, Compensation and Benefits Committee of the Board of Directors (the "Board") approved a reinstatement of the base salaries of the Company's current executive officers to 100% of pre-reductions levels, effective July 5, 2020.




Item 7.01. Regulation FD Disclosure.
On April 1, 2020, the Company also announced that the Board's annual cash
retainers would be reduced by 50%. On June 24, 2020, the Company announced that
the Board's annual cash retainers would be restored to pre-reduction levels,
effective July 5, 2020.
On April 1, 2020, the Company also announced that all non-furloughed employees,
other than the Company's distribution center employees supporting the Company's
digital business, would receive a 50% salary or hours reduction. On June 24,
2020, the Company announced that the compensation of all employees whose
compensation was subject to a reduction would be restored to pre-reduction
levels, effective July 5, 2020.
The information in this Current Report on Form 8-K shall not be deemed "filed"
for purposes of Section 18 of the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), or otherwise subject to the liabilities of that section,
nor shall it be incorporated by reference into any registration statement or
other document filed under the Securities Act of 1933, as amended, or
the Exchange Act, except as shall be expressly set forth by specific reference
in such filing.

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses