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CACH > SEC Filings for CACH > Form 8-K on 7-Aug-2013All Recent SEC Filings

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Form 8-K for CACHE INC


Change in Directors or Principal Officers

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

Departure of Executive Vice President, Chief Financial Officer

On August 1, 2013, Margaret J. Feeney, Executive Vice President, Chief Financial Officer, of Cache, Inc. (the "Company"), resigned from the Company effective immediately.

Appointment of New Executive Vice President, Chief Financial Officer

On August 7, 2013, Anthony F. DiPippa, age 44, joined the Company as Executive Vice President, Chief Financial Officer. Mr. DiPippa comes to Cache with over 16 years of experience in finance with leading companies, including W.B. Mason, Godiva Chocolatier, Dun and Bradstreet and Procter & Gamble. Since February 2010, Mr. DiPippa was Chief Financial Officer of W. B. Mason, an office products and furniture company. Prior to W. B. Mason, from July 2005 to January 2010, Mr. DiPippa held the position of Vice President, North America Finance at Godiva Chocolatier.

In connection with his hiring, the Company and Mr. DiPippa entered into an offer letter. The offer letter provides that Mr. DiPippa will have an initial annual base salary of $350,000. Mr. DiPippa is guaranteed 25% of his base salary as a bonus at the end of 2013 with the potential to earn a bonus of up to 35% of his base salary based on performance. Additionally, the Company will grant Mr. DiPippa 75,000 shares of restricted stock. The restricted shares will be subject to vesting over a three year period. The vesting for each year of the three year grant is based on service, the Company's corporate earnings and an earnings stretch goal.

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