On May 11, 2020, Steven Madden, Ltd. (NASDAQ:SHOO) entered into a new employment agreement with Karla Frieders pursuant to which Ms. Frieders will continue to serve as CMO of the Company. The agreement is effective as of May 1, 2020. and it replaces Ms. Frieders’ prior employment agreement, which expired by its terms on April 30, 2020.
Ms. Frieders will receive an annual base salary during the term of $590,000 plus annual performance-based bonus for each of the fiscal years ending December 31, 2020, 2021 and 2022 in an amount to be determined by SHOO in its absolute discretion, which bonus, if any, will be paid to her on or about March 15 of the year immediately following the year in which it was earned. In addition, on May 11, 2020, Ms. Frieders was granted 32,758 restricted shares of the Company’s common stock, with a par value of $0.0001 per share, which will vest in five equal annual installments on May 1, 2021, May 1, 2022, May 1, 2023, May 1, 2024, and May 1, 2025, respectively.
Steven Madden, Ltd. (NASDAQ: SHOO) stock price went down on Thursday and it is trading around $19.70 which is the price where SHOO was 4 years ago.