PSU Award Agreements.
As previously disclosed, at a meeting held on May 10, 2021, the Compensation Committee of the Board of Directors (the “Committee”) of the Company approved a new form of award agreement for
“performance stock units” (“PSUs”, and such award agreement, the “Form of PSU Award Agreement”) under the Company’s 2012 Incentive Compensation Plan, a form of which was filed as Exhibit 10.1 to the Original Report. At a meeting held on July 8,
2021, the Committee of the Company discussed an inadvertent drafting error in the PSU Award Agreement that was inconsistent with the Committee’s intention for treatment of the PSUs, and, accordingly, the Committee approved the correction of the PSU
Award Agre ement such that, upon qualifying terminations in connection with a change in control, the PSUs will vest in full, based on actual performance if determinable at the time of the termination and, if not determinable at the time of
termination, at target. The corrected Form of PSU Award Agreement shall be used to reissue PSU award agreements to the NEOs and other participants who received annual grants of PSUs on May 10, 2021, and the terms of the reissued award agreements
shall govern the applicable awards henceforth.
The foregoing description is qualified in its entirety by reference to the corrected Form of PSU Award Agreement, which is attached hereto as
Financial Statements and Exhibits.
Form of Performance Stock Unit Award Agreement
Cover Page Interactive Data File (embedded within the Inline XBRL document)
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.
BED BATH & BEYOND INC.
Date: July 16, 2021
/s/ Gustavo Arnal
Chief Financial Officer and Treasurer
(Principal Financial and Accounting Officer)
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