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[8-K] Vera Bradley, Inc. Reports Material Event

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8-K
Rhea-AI Filing Summary

Vera Bradley (VRA) announced the departure of CFO Michael Schwindle, effective June 30, 2025, through a Release and Waiver Agreement dated June 19, 2025. The agreement outlines a comprehensive severance package including:

  • Base salary through termination date
  • Lump sum payment of $675,937.50
  • COBRA premium reimbursement for up to 12 months
  • Potential bonus payment of 1.25x FY2026 Cash Bonus Plan amount
  • Accrued benefits and unreimbursed business expenses

In exchange, Schwindle agrees to release the company and specified affiliates from employment-related claims, subject to customary limitations. The agreement was signed by Chief Administrative Officer Mark C. Dely on June 25, 2025.

Vera Bradley (VRA) ha annunciato l'uscita del CFO Michael Schwindle, effettiva dal 30 giugno 2025, tramite un Accordo di Rilascio e Rinuncia datato 19 giugno 2025. L'accordo prevede un pacchetto di buonuscita completo che include:

  • Stipendio base fino alla data di cessazione
  • Pagamento in un'unica soluzione di 675.937,50 $
  • Rimborso del premio COBRA per un massimo di 12 mesi
  • Possibile pagamento del bonus pari a 1,25 volte l'importo del Piano Bonus in Contanti FY2026
  • Benefici maturati e spese aziendali non rimborsate

In cambio, Schwindle accetta di liberare l'azienda e gli affiliati specificati da eventuali reclami legati all'impiego, soggetti a limitazioni consuete. L'accordo 猫 stato firmato dal Chief Administrative Officer Mark C. Dely il 25 giugno 2025.

Vera Bradley (VRA) anunci贸 la salida del CFO Michael Schwindle, efectiva el 30 de junio de 2025, mediante un Acuerdo de Liberaci贸n y Renuncia fechado el 19 de junio de 2025. El acuerdo detalla un paquete de indemnizaci贸n integral que incluye:

  • Salario base hasta la fecha de terminaci贸n
  • Pago 煤nico de 675,937.50 d贸lares
  • Reembolso de la prima COBRA por hasta 12 meses
  • Pago potencial de bono equivalente a 1.25 veces el monto del Plan de Bono en Efectivo del a帽o fiscal 2026
  • Beneficios acumulados y gastos de negocio no reembolsados

Como contraprestaci贸n, Schwindle acepta liberar a la empresa y a los afiliados especificados de reclamaciones relacionadas con el empleo, sujeto a limitaciones habituales. El acuerdo fue firmado por el Chief Administrative Officer Mark C. Dely el 25 de junio de 2025.

氩犽澕 敫岆灅霌るΜ(VRA)電� 2025雲� 6鞗� 19鞚检瀽 頃挫牅 氚� 韽赴 瓿勳暯鞚� 韱淀暣 CFO 毵堨澊韥� 鞀堨湀霌�(Michael Schwindle)鞚� 韲挫瀯鞚� 2025雲� 6鞗� 30鞚检瀽搿� 氚滍憸頄堨姷雼堧嫟. 鞚� 瓿勳暯鞚� 雼れ潓鞚� 韽暔頃� 韽磩鞝侅澑 韲挫 韺偆歆�毳� 氇呾嫓頃╇媹雼�:

  • 膦呺鞚缄箤歆� 旮半掣旮�
  • 鞚检嫓攵� 歆�旮夓暋 675,937.50雼煬
  • 斓滊寑 12臧滌洈臧� COBRA 氤错棙耄� 頇橁笁
  • 2026 須岅硠鞐半弰 順勱笀 氤措剤鞀� 瓿勴殟 旮堨暋鞚� 1.25氚办棎 頃措嫻頃橂姅 氤措剤鞀� 歆�旮� 臧�電レ劚
  • 雸勳爜 氤惦Μ頉勳儩 氚� 氙胳旮� 鞐呺 瓴诫箘

雽�臧�搿� 鞀堨湀霌れ潃 甏�搿�鞝侅澑 鞝滍暅 臁瓣贝 頃橃棎 須岇偓 氚� 歆�鞝曤悳 瓿勳棿靷棎 雽�頃� 瓿犾毄 甏�霠� 觳惮毳� 韽赴頃橁赴搿� 霃欖潣頄堨姷雼堧嫟. 鞚� 瓿勳暯鞚� 2025雲� 6鞗� 25鞚� 斓滉碃甏�毽眳鞛勳瀽 Mark C. Dely臧� 靹滊獏頄堨姷雼堧嫟.

Vera Bradley (VRA) a annonc茅 le d茅part du CFO Michael Schwindle, effectif au 30 juin 2025, via un Accord de Lib茅ration et de Renonciation dat茅 du 19 juin 2025. L'accord d茅taille un package de d茅part complet comprenant :

  • Salaire de base jusqu'脿 la date de fin
  • Versement forfaitaire de 675 937,50 $
  • Remboursement des primes COBRA jusqu'脿 12 mois
  • Un bonus potentiel 茅quivalent 脿 1,25 fois le montant du Plan de Bonus en esp猫ces de l'exercice 2026
  • Avantages acquis et frais professionnels non rembours茅s

En contrepartie, Schwindle accepte de lib茅rer la soci茅t茅 et les affili茅s sp茅cifi茅s de toute r茅clamation li茅e 脿 l'emploi, sous r茅serve des limitations habituelles. L'accord a 茅t茅 sign茅 par le Chief Administrative Officer Mark C. Dely le 25 juin 2025.

Vera Bradley (VRA) gab den Weggang des CFO Michael Schwindle bekannt, der zum 30. Juni 2025 wirksam wird, basierend auf einer Freigabe- und Verzichtsvereinbarung vom 19. Juni 2025. Die Vereinbarung umfasst ein umfassendes Abfindungspaket, das Folgendes beinhaltet:

  • Grundgehalt bis zum Beendigungsdatum
  • Einmalzahlung in H枚he von 675.937,50 USD
  • Erstattung der COBRA-Versicherungspr盲mien f眉r bis zu 12 Monate
  • 惭枚驳濒颈肠丑别 Bonuszahlung in H枚he des 1,25-fachen Betrags des FY2026 Cash Bonus Plans
  • Aufgelaufene Leistungen und nicht erstattete Gesch盲ftsauslagen

Im Gegenzug erkl盲rt sich Schwindle bereit, das Unternehmen und die angegebenen verbundenen Unternehmen von besch盲ftigungsbezogenen Anspr眉chen unter 眉blichen Einschr盲nkungen freizustellen. Die Vereinbarung wurde am 25. Juni 2025 vom Chief Administrative Officer Mark C. Dely unterzeichnet.

Positive
  • None.
Negative
  • CFO Michael Schwindle's sudden departure announced with immediate severance agreement, indicating potential leadership instability
  • Significant severance package of $675,937.50 plus 1.25x potential bonus and 12-month COBRA coverage represents material cash outflow

Vera Bradley (VRA) ha annunciato l'uscita del CFO Michael Schwindle, effettiva dal 30 giugno 2025, tramite un Accordo di Rilascio e Rinuncia datato 19 giugno 2025. L'accordo prevede un pacchetto di buonuscita completo che include:

  • Stipendio base fino alla data di cessazione
  • Pagamento in un'unica soluzione di 675.937,50 $
  • Rimborso del premio COBRA per un massimo di 12 mesi
  • Possibile pagamento del bonus pari a 1,25 volte l'importo del Piano Bonus in Contanti FY2026
  • Benefici maturati e spese aziendali non rimborsate

In cambio, Schwindle accetta di liberare l'azienda e gli affiliati specificati da eventuali reclami legati all'impiego, soggetti a limitazioni consuete. L'accordo 猫 stato firmato dal Chief Administrative Officer Mark C. Dely il 25 giugno 2025.

Vera Bradley (VRA) anunci贸 la salida del CFO Michael Schwindle, efectiva el 30 de junio de 2025, mediante un Acuerdo de Liberaci贸n y Renuncia fechado el 19 de junio de 2025. El acuerdo detalla un paquete de indemnizaci贸n integral que incluye:

  • Salario base hasta la fecha de terminaci贸n
  • Pago 煤nico de 675,937.50 d贸lares
  • Reembolso de la prima COBRA por hasta 12 meses
  • Pago potencial de bono equivalente a 1.25 veces el monto del Plan de Bono en Efectivo del a帽o fiscal 2026
  • Beneficios acumulados y gastos de negocio no reembolsados

Como contraprestaci贸n, Schwindle acepta liberar a la empresa y a los afiliados especificados de reclamaciones relacionadas con el empleo, sujeto a limitaciones habituales. El acuerdo fue firmado por el Chief Administrative Officer Mark C. Dely el 25 de junio de 2025.

氩犽澕 敫岆灅霌るΜ(VRA)電� 2025雲� 6鞗� 19鞚检瀽 頃挫牅 氚� 韽赴 瓿勳暯鞚� 韱淀暣 CFO 毵堨澊韥� 鞀堨湀霌�(Michael Schwindle)鞚� 韲挫瀯鞚� 2025雲� 6鞗� 30鞚检瀽搿� 氚滍憸頄堨姷雼堧嫟. 鞚� 瓿勳暯鞚� 雼れ潓鞚� 韽暔頃� 韽磩鞝侅澑 韲挫 韺偆歆�毳� 氇呾嫓頃╇媹雼�:

  • 膦呺鞚缄箤歆� 旮半掣旮�
  • 鞚检嫓攵� 歆�旮夓暋 675,937.50雼煬
  • 斓滊寑 12臧滌洈臧� COBRA 氤错棙耄� 頇橁笁
  • 2026 須岅硠鞐半弰 順勱笀 氤措剤鞀� 瓿勴殟 旮堨暋鞚� 1.25氚办棎 頃措嫻頃橂姅 氤措剤鞀� 歆�旮� 臧�電レ劚
  • 雸勳爜 氤惦Μ頉勳儩 氚� 氙胳旮� 鞐呺 瓴诫箘

雽�臧�搿� 鞀堨湀霌れ潃 甏�搿�鞝侅澑 鞝滍暅 臁瓣贝 頃橃棎 須岇偓 氚� 歆�鞝曤悳 瓿勳棿靷棎 雽�頃� 瓿犾毄 甏�霠� 觳惮毳� 韽赴頃橁赴搿� 霃欖潣頄堨姷雼堧嫟. 鞚� 瓿勳暯鞚� 2025雲� 6鞗� 25鞚� 斓滉碃甏�毽眳鞛勳瀽 Mark C. Dely臧� 靹滊獏頄堨姷雼堧嫟.

Vera Bradley (VRA) a annonc茅 le d茅part du CFO Michael Schwindle, effectif au 30 juin 2025, via un Accord de Lib茅ration et de Renonciation dat茅 du 19 juin 2025. L'accord d茅taille un package de d茅part complet comprenant :

  • Salaire de base jusqu'脿 la date de fin
  • Versement forfaitaire de 675 937,50 $
  • Remboursement des primes COBRA jusqu'脿 12 mois
  • Un bonus potentiel 茅quivalent 脿 1,25 fois le montant du Plan de Bonus en esp猫ces de l'exercice 2026
  • Avantages acquis et frais professionnels non rembours茅s

En contrepartie, Schwindle accepte de lib茅rer la soci茅t茅 et les affili茅s sp茅cifi茅s de toute r茅clamation li茅e 脿 l'emploi, sous r茅serve des limitations habituelles. L'accord a 茅t茅 sign茅 par le Chief Administrative Officer Mark C. Dely le 25 juin 2025.

Vera Bradley (VRA) gab den Weggang des CFO Michael Schwindle bekannt, der zum 30. Juni 2025 wirksam wird, basierend auf einer Freigabe- und Verzichtsvereinbarung vom 19. Juni 2025. Die Vereinbarung umfasst ein umfassendes Abfindungspaket, das Folgendes beinhaltet:

  • Grundgehalt bis zum Beendigungsdatum
  • Einmalzahlung in H枚he von 675.937,50 USD
  • Erstattung der COBRA-Versicherungspr盲mien f眉r bis zu 12 Monate
  • 惭枚驳濒颈肠丑别 Bonuszahlung in H枚he des 1,25-fachen Betrags des FY2026 Cash Bonus Plans
  • Aufgelaufene Leistungen und nicht erstattete Gesch盲ftsauslagen

Im Gegenzug erkl盲rt sich Schwindle bereit, das Unternehmen und die angegebenen verbundenen Unternehmen von besch盲ftigungsbezogenen Anspr眉chen unter 眉blichen Einschr盲nkungen freizustellen. Die Vereinbarung wurde am 25. Juni 2025 vom Chief Administrative Officer Mark C. Dely unterzeichnet.

0001495320FALSE00014953202025-06-192025-06-19


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________
FORM 8-K
___________________________
 
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 19, 2025
___________________________ 
VERA BRADLEY, INC.
(Exact name of registrant as specified in its charter)
___________________________
 
Indiana 001-34918 27-2935063
(State or Other Jurisdiction
of Incorporation)		 (Commission
File Number)		 (IRS Employer
Identification No.)
12420 Stonebridge Road,
Roanoke, Indiana
 46783
(Address of Principal Executive Offices) (Zip Code)
(877) 708-8372
(Registrant’s telephone number, including area code)
None
(Former name, former address and former fiscal year, if changed since last report)
___________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of Each ClassTrading Symbol(s)Name of each exchange on which registered
Common Stock, without par valueVRANASDAQ Global Select Market


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
 If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o



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

On June 19, 2025, Vera Bradley, Inc. (the “Company”) entered into a Release and Waiver Agreement (the “Release Agreement”) with its former Chief Financial Officer, Michael Schwindle. The Release Agreement provides that Mr. Schwindle’s employment with the Company will terminate on June 30, 2025 and that he will receive severance compensation, including base salary through the date of termination, accrued benefits under the terms of the Company’s employee benefit plans, reimbursement of unreimbursed business expenses in accordance with Company policy, reimbursement of COBRA premiums for a period of up to 12 months (subject to Mr. Schwindle obtaining coverage under another group health plan), a lump sum payment of $675,937.50 and an additional amount, if any, equal to 1.25 times the amount of the annual bonus Mr. Schwindle would have received under the Company’s annual Cash Bonus Plan for the 2026 fiscal year, payable at the time payment is made to other Company executives under the Cash Bonus Plan. In consideration of these severance benefits, Mr. Schwindle agrees to release the Company, its affiliates and certain other persons specified in the Release Agreement from all claims related to his employment or the termination thereof, subject to customary limitations set forth in the Release Agreement.

The foregoing summary of the Release Agreement does not purport to be complete and is qualified in its entirety by reference to the copy of the Release Agreement filed as Exhibit 10.1 to this Report.

Item 9.01 Financial Statements and Exhibits
(d) Exhibits
10.1
Release and Waiver Agreement dated June 19, 2025
104Cover Page Interactive Data File (embedded within the Inline XBRL document)





SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
 
Vera Bradley, Inc.
(Registrant)
Date: June 25, 2025
/s/ Mark C. Dely
Mark C. Dely
Chief Administrative Officer

 




Source:

FAQ

Why did VRA's CFO Michael Schwindle leave Vera Bradley?

According to the 8-K filing dated June 28, 2025, Vera Bradley announced that CFO Michael Schwindle's employment will terminate on June 30, 2025. The company entered into a Release and Waiver Agreement with him on June 19, 2025. The specific reason for his departure was not disclosed in the filing.

What severance package will VRA's former CFO Michael Schwindle receive?

Michael Schwindle's severance package includes: 1) A lump sum payment of $675,937.50 2) 1.25x his potential FY2026 annual bonus 3) 12 months of COBRA premium reimbursement 4) Base salary through termination date 5) Accrued benefits and unreimbursed business expenses.

When is Michael Schwindle's last day as CFO of Vera Bradley (VRA)?

According to the 8-K filing, Michael Schwindle's employment with Vera Bradley will terminate on June 30, 2025.

What conditions are attached to VRA CFO Schwindle's severance agreement?

As part of the Release and Waiver Agreement, Mr. Schwindle must release Vera Bradley, its affiliates, and specified persons from all claims related to his employment or termination. The COBRA premium reimbursement is subject to termination if he obtains coverage under another group health plan.
Stock VRA logo
Vera Bradley

NASDAQ:VRA

VRA Rankings

#5189 Ranked by Market Cap
N/A Ranked by Dividends

VRA Latest News

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Jun 11, 2025
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Vera Bradley Announces Management and Board Leadership Changes

VRA Latest SEC Filings

Aug 6, 2025
[8-K] Vera Bradley, Inc. Reports Material Event
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[SCHEDULE 13G/A] Vera Bradley, Inc. SEC Filing
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[SCHEDULE 13G/A] Vera Bradley, Inc. SEC Filing
Jul 8, 2025
[Form 4] Vera Bradley, Inc. Insider Trading Activity
Jun 26, 2025
[Form 4] Vera Bradley, Inc. Insider Trading Activity

VRA Stock Data

57.82M
19.15M
31.43%
60.46%
7.43%
Footwear & Accessories
Leather & Leather Products
United States
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