Summary of HASTINGS ENTERTAINMENT INC

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On February 15, 2013, Alan Van Ongevalle was promoted to President and Chief Operating Officer of Hastings Entertainment, Inc. (the "Company"). In connection with this promotion, John Marmaduke resigned from his position as President of the Company (without resigning from his positions as Chief Executive Officer of the Company and Chairman of the Company's Board of Directors). Mr. Van Ongevalle, age 44, previously served as Executive Vice President of Merchandising since August 2009. From February 2007 to August 2009, Mr. Van Ongevalle served as Senior Vice President of Merchandising. From February 2003 until February 2007, Mr. Van Ongevalle served as Vice President of Information Technology and Distribution. From August 2002 to February 2003, Mr. Van Ongevalle served as Vice President of Marketing and Distribution. From May 2000 to August 2002, Mr. Van Ongevalle served as Vice President of Marketing. From August 1999 to May 2000, Mr. Van Ongevalle served as the Senior Director of Marketing and from September 1998 to August 1999 as Director of Advertising. Mr. Van Ongevalle joined Hastings in November 1992 and held various store operation management positions, including Store Manager and Director of New Stores for the Southern Kansas area through September 1998.

In connection with this promotion, the Company has increased Mr. Van Ongevalle's annual base salary from $257,550 to $350,000 and increased the financial incentive target for Mr. Van Ongevalle under the Company's Corporate Officer Incentive Program (the "Program") from 70% to 80% of Mr. Van Ongevalle's base salary.

The foregoing description of the Program does not purport to be complete and is subject to, and qualified in its entirety by, the description of the Program contained in the Company's Proxy Statement on Schedule 14A filed by the Company on April 19, 2012, which description is incorporated herein by reference.