Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 16, 2021, the Board of Directors (the "Board") of CarParts.com, Inc.
(the "Company") adopted an Officer and Director Share Purchase Plan (the
"Purchase Plan"). In connection with the adoption of the Purchase Plan, the
Board reserved a total of 250,000 shares of the Company's Common Stock for
issuance under the Purchase Plan. The Purchase Plan provides for the optional
purchase of shares of Common Stock, directly from the Company at their fair
market value, by the Company's directors and executive officers, in accordance
with their regular pay schedule. Purchases under the Purchase Plan will be
funded using payroll deductions, or deductions from fees payable to directors,
which deductions will be used to purchase shares of fully vested Common Stock on
the payment date when the cash compensation deducted would otherwise have been
paid.
The foregoing description of the Purchase Plan is qualified in its entirety by
reference to the Purchase Plan, a copy of which is filed as Exhibit 10.1 to this
Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
10.1 CarParts.com, Inc. Officer and Director Share Purchase Plan
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