Bath & Body Works Grants CEO $10M Performance Stock Award Tied to Share Price

Bath & Body Works, Inc. granted a performance stock unit (PSU) award to its CEO, Daniel Heaf, with a target value of $10 million. The award, granted on September 21, 2026, is designed to incentivize long-term shareholder value creation through rigorous stock price hurdles over a four-year period.

Key Details

• Award Value: The PSU award has a target value of $10 million, equivalent to 591,366 shares of company common stock.
• Performance Hurdles: The award payout ranges from 75% to 200% of the target amount based on achieving specific 60-day average stock prices: $40 (75%), $60 (100%), $80 (150%), or $100 (200%).
• Vesting & Timeline: The award has a four-year performance period. Any PSUs earned will vest on the fourth anniversary of the grant date, subject to continued employment.
• Relative TSR Modifier: The number of PSUs earned will be reduced by 50% if the company's total shareholder return ranks below the 55th percentile relative to the S&P 1500 Consumer Discretionary Distribution & Retail Index at the end of the performance period.