This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Christopher & Banks Corporation Announces Employee Inducement Awards Pursuant To New York Stock Exchange Rule 303A.08

Stocks in this article: CBK

Christopher & Banks Corporation (NYSE: CBK) announced today that, in conjunction with its recent hiring of Ms. LuAnn Via as President and Chief Executive Officer, the Board of Directors granted to Ms. Via annual and long-term non-qualified stock options as an inducement to her hiring. The annual incentive stock option consists of a grant of 500,000 shares of the Company’s Common Stock, with an exercise price of $3.43, representing the closing price on the New York Stock Exchange (“NYSE”) of one share of the Company’s Common Stock on November 26, 2012, Ms. Via’s first day of employment. The option will become exercisable with respect to all 500,000 shares on February 1, 2014. In addition, Ms. Via was granted a long-term incentive non-qualified stock option of 1.5 million shares of common stock, with an exercise price of $3.43, the closing price on the NYSE of one share of the Company’s Common Stock on November 26, 2012. This option will vest as to 500,000 shares on each of the first three anniversaries of the date of grant. Vesting under each option is accelerated in the event of a change-of-control. In each case, the options vest if Ms. Via remains employed with the Company on the vesting dates.

These options have been granted outside the terms of the Company’s 2005 Stock Incentive Plan in reliance on the employment inducement award exemption under the NYSE’s Listed Company Manual Rule 303A.08. Pursuant to the rule, the Company is issuing this press release.

In granting these stock option awards, the Board believes that the grants are appropriate and competitive in light of Ms. Via’s extensive retail experience and background. In addition, the awards are intended to achieve the goal of creating a strong incentive for Ms. Via to drive superior performance for the benefit of the Company and its stockholders. The long-term incentive stock award is made with the understanding that it is in lieu of any future grants of long-term equity incentive awards to Ms. Via over the Company’s next three fiscal years.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs