On April 17, 2019, Pier 1 Imports, Inc. filed a Current Report on Form 8-K reporting that Nancy A. Walsh, who had been serving as the Company's Executive Vice President and Chief Financial Officer and Principal Financial Officer, left the Company effective April 17, 2019. On May 10, 2019, as required by the Executive Severance Agreement entered into between the Company and Ms. Walsh, dated January 25, 2018, Ms. Walsh executed a general release and waiver of claims, which release will become effective by its terms on May 18, 2019, if not revoked by Ms. Walsh within the seven-day period following her execution of the release.