In an incentive program to reward key employees, American Apparel has granted 6.5 million shares of company stock to about 70 executives, nonmanagement employees and consultants. The company paid the withholding and payroll taxes for the grants — and in an unconventional move, the cash-poor company financed those payments by selling 1.1 million treasury shares of its common stock to chairman and chief executive officer Dov Charney.
The employee grants were approved by the board on Nov. 26 and the stock sale to Charney was on Wednesday, with both acts divulged in a filing with the Securities and Exchange Commission Thursday.
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)
"That's something that resonates with me too because I'm so locked into a number. If I go over that number it completely ruins my day so it's nice to get detached from the number on the scale." - Chelsea Handler on Kelly LeVeque's book "Body Love." #wwdeye (📷: John Salangsang)