Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As announced on October 10, 2021, Richard S. Stoddart, most recently the Lead
Independent Director of the Board of Directors (the "Board") of Hasbro, Inc.
(the "Company"), was appointed interim CEO of the Company. On October 22, 2021,
the Board, based on the recommendation of the Compensation Committee of the
Board, approved the compensation to be paid to Mr. Stoddart in his role as
interim CEO. Mr. Stoddart will receive an annual base salary of $1.5 million and
restricted stock units having a grant date value of $2.5 million. The restricted
stock units, granted under the Company's Restated 2003 Stock Incentive
Performance Plan, as amended, will vest in full one year after the date of
grant, contingent on Mr. Stoddart continuing to serve on the Board of the
Company during that period and continuing to serve as the interim CEO of the
Company during the period of time over that one year period as requested by the
Board.
Mr. Stoddart, age 58, has served as a member of the Board since 2014 and is the
former President and Chief Executive Officer of global marketing execution firm
InnerWorkings, Inc., serving in that role from 2017 until 2020 when
InnerWorkings, Inc. was acquired. Prior to that, Mr. Stoddart was the Chief
Executive Officer of Leo Burnett Worldwide from February 2016 to 2017, the Chief
Executive Officer of Leo Burnett North America from 2013 to 2016 and the
President of Leo Burnett North America from 2005 to 2013.
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