COLUMBUS, Ohio--(BUSINESS WIRE)--In accordance with the New York Stock Exchange rules regarding equity inducement awards, Express, Inc. (NYSE: EXPR) (the “Company”), a leading fashion apparel retailer, today announced that on July 15, 2019, an equity inducement award of 2,320,000 stock options and 576,923 time-based restricted stock units were granted to Timothy Baxter, the Company's Chief Executive Officer, in connection with the commencement of his employment. The Company previously disclosed this award in its current report on form 8-K filed on May 21, 2019 in connection with the announcement of Mr. Baxter’s appointment.
Approximately one-half of the stock options will vest ratably over four years, subject to continued employment with the Company. Approximately one-half of the stock options and all of the time-based restricted stock units will vest on the second anniversary of the grant date, subject to continued employment with the Company.
To access the original press release announcing Mr. Baxter’s appointment, please visit:
About Express, Inc.:
Express is a leading fashion destination and apparel brand for both women and men. Since 1980, Express has provided the latest apparel and accessories for work, casual, jeanswear, and going-out, offering a distinct combination of fashion and quality at an attractive value. The company operates more than 600 retail and factory outlet stores in the United States and Puerto Rico, as well as a best-in-class shopping experience through its website and mobile app. In addition, Express merchandise is available at franchise locations and online in Latin America. For more information, please visit www.express.com.