Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As previously disclosed, Manny Mashouf has rejoined the management team of bebe stores, inc. (the "Company") as Chief Executive Officer, effective February 18, 2016 (the "Effective Date"). As of the Effective Date, in connection with his appointment, the Company has agreed to provide the following compensation to Mr. Mashouf: (i) a base salary of $850,000 (prorated for any partial year of service); (ii) eligibility to participate in the Company's bonus plan at 100% of salary level, subject to the terms of the Company's bonus plan, beginning in the Company's next fiscal year; and (iii) $8,000 per month toward the cost of housing in Los Angeles.
More likely a short squeeze. Last time I checked, about 65+/- million shares (20% of float) were sold short. It has been oversold and was due to bounce back. However, I'm surprised at the big jump over the last few days.