Actionable news
0
All posts from Actionable news
Actionable news in REV: REVLON Inc,

Appointment of Certain

Amendment to Lorenzo Delpanis Transition and Separation Agreement and Release

.

As previously disclosed on a Current Report on Form 8-K that each of Revlon, Inc. (Revlon) and Revlon Consumer Products Corporation (RCPC, together with Revlon, the Company) filed with the SEC on March 4, 2016, the Company and Lorenzo Delpani entered into a Transition and Separation Agreement and Release on March 1, 2016 (the TSA) in connection with the transition of his duties and responsibilities as the Companys former President and Chief Executive Officer.

On April 21, 2016, the Company and Mr. Delpani entered into an amendment to the TSA (the TSA Amendment) pursuant to which on April 22, 2016 the Company (i) paid Mr. Delpani $1,600,000 in consideration for the cancellation of his 65,703 restricted shares of Revlon Class A common stock that were otherwise scheduled to vest on March 15, 2017; and (ii) repurchased from Mr. Delpani his 72,895 vested shares of Revlon, Inc. Class A common stock for an aggregate purchase price of $2,684,722, based on the $36.83 NYSE per share closing price of Revlon, Inc. Class A common stock on April 20, 2016.

In connection with the TSA Amendment, the parties have agreed that Mr. Delpani will not stand for re-election to serve as a member of Revlons Board at Revlons 2016 annual stockholders meeting scheduled to be held on June 9, 2016 and will also cease to serve as a member of RCPCs Board as of that date.

The foregoing description is qualified by reference to the full text of the TSA Amendment, which is filed as Exhibit10.1 attached hereto and is incorporated by reference in its entirety into this Item 5.02.

Item 9.01.

Financial Statements and Exhibits.

(d)

Exhibits

Exhibit No.

Description

10.1

Amendment to the Transition and Separation Agreement and Release entered into between the Company and Lorenzo Delpani, dated April 21, 2016.

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 hereunto duly authorized.

REVLON, INC.

By:

/s/ Michael T. Sheehan

Michael T. Sheehan

Senior Vice President, Deputy General Counsel and Secretary

EXHIBIT INDEX

Exhibit No.

Description

10.1

Amendment to the Transition and Separation Agreement and Release entered into between the Company and Lorenzo Delpani, dated April 21, 2016.

makes a similar move, sign up!

Other recent filings from the company include the following:

Revlon director just disposed of 138,598 shares - April 22, 2016
Revlon's EVP & CHIEF FINANCIAL OFFICER just declared 0 ownership of the company. - April 19, 2016
Revlon's PRESIDENT AND CEO just declared 0 ownership of the company. - April 19, 2016
Revlon Names Juan Figuereo As Its Chief Financial Officer - April 12, 2016