Item 2.02 Results of Operations and Financial Condition.
On January 18, 2022, European Wax Center, Inc. (the "Company") issued a press
release that includes preliminary results for the fiscal year ended December 25,
2021 and certain information regarding the officer transition described below. A
copy of the press release issued is filed herewith as Exhibit 99.1 and is
incorporated herein by reference.
The information contained in this Item 2.02 and the accompanying exhibit is
being furnished and shall not be deemed filed for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended, or otherwise subject to the
liabilities of Section 18. Furthermore, the information contained in this Item
2.02 and the accompanying exhibit shall not be deemed to be incorporated by
reference in any filing under the Securities Act of 1933, as amended, unless
specifically identified therein as being incorporated therein by reference.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 18, 2022, the Company announced that Chief Operating Officer David
Willis has been appointed Chief Financial Officer. Mr. Willis will retain his
role as Chief Operating Officer. Mr. Willis succeeds Jennifer Vanderveldt, who
is leaving the Company to pursue other opportunities. Such changes are effective
as of January 12, 2022.
In connection with Ms. Vanderveldt's separation, on January 17, 2022, the
Company and Ms. Vandervelt entered into a separation agreement pursuant to which
Ms. Vanderveldt will receive 12 months of her annual base salary, payable in the
form of salary continuation, and a 2021 performance bonus based on achievement
of bonus plan targets, payable on the same date that the bonus is paid to other
executive-level employees. In addition, 75,000 of Ms. Vanderveldt's common units
of EWC Ventures, LLC will vest; all other unvested common units of EWC Ventures,
LLC, as well as all other equity granted by the Company, will be forfeited
without consideration. Pursuant to the separation agreement, Ms. Vandervelt also
granted a release in favor of the Company and agreed to certain confidential
information and other customary covenants.
Item 9.01 Financial Statements and Exhibits.
Exhibit Description
99.1 News release issued on January 18, 2022
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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