Business Context and Reporting Period
This Form 8-K Current Report is filed by Build-A-Bear Workshop, Inc. (BBW) on March 10, 2026. The report discloses a planned executive succession involving the retirement of the current President and CEO and the appointment of a new CEO.
Key Financial Metrics
This filing is a corporate governance report and does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The filing text does not provide a clear value for any financial indicators.
Material Changes
- Executive Departure: Sharon Price John will retire as President and Chief Executive Officer effective June 11, 2026, following a transition period.
- Executive Appointment: J. Christopher Hurt (59) has been appointed to succeed Ms. John as Chief Executive Officer, effective June 11, 2026.
- Board Composition: The Board of Directors increased its size to eight members and appointed Mr. Hurt as a Class II director, effective upon his promotion.
- Role Transition: Ms. John will remain on the Board as a non-independent Class II director through the 2027 annual meeting. Mr. Hurt will continue as Chief Operations and Experience Officer during the transition period.
Guidance, Outlook, and Compensation
Management Commentary: Mr. Hurt joined the Company in 2015 and previously oversaw a successful retail turnaround and international expansion. Since early 2024, he has focused on redefining Brand, Merchandising, Marketing, and Licensing.
Compensation Arrangements for J. Christopher Hurt:
- Base Salary: Not less than $700,000 annually, subject to annual review.
- Annual Bonus: Target value of no less than 100% of the annual base salary, payable in cash, stock, or options.
- Long-Term Incentives: Anticipated 2026 award value of $1,200,000, weighted 70% performance-based restricted stock and 30% time-based restricted stock (subject to Board approval).
- Termination Benefits: Entitled to salary continuation/lump sums upon termination without cause or for good reason, plus a lump sum equivalent to 18 months of health and welfare benefits.
- Contract Term: Initial term of three years from March 12, 2026, renewing year-to-year.
Risks and Contingencies: The filing notes standard non-competition, non-solicitation, and confidentiality provisions. No specific financial risks or contingencies are detailed in this report.
Investor Verification Checklist
- Verify the exact transition timeline and the date of the 2026 annual meeting of stockholders (June 11, 2026).
- Review the full text of the CEO Employment Agreement (Exhibit 10.1) for specific definitions of "cause" and "good reason."
- Confirm the final approval of the $1,200,000 long-term incentive award by the Compensation and Human Capital Committee.
- Monitor subsequent filings for the official departure of Sharon Price John and the formal assumption of duties by J. Christopher Hurt.