Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
As previously reported, on May 15, 2020, J. C. Penney Company, Inc. (the
"Company") and certain of its subsidiaries commenced voluntary cases under
chapter 11 of title 11 of the United States Code in the United States Bankruptcy
Court for the Southern District of Texas (the "Bankruptcy Court").
On November 30, 2020, in connection with oral confirmation by the Bankruptcy
Court of the Amended Joint Chapter 11 Plan of Reorganization of J. C. Penney
Company, Inc. and its Debtor Affiliates on November 24, 2020, Paul J. Brown,
Amanda Ginsberg, W. Paul Jones and Deborah A. Plunkett resigned from the
Company's Board of Directors (the "Board"). The foregoing directors'
resignations were not the result of any disagreement with the Company or the
Board on any matter relating to the Company's operations, policies or practices.
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