Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of Interim Chief Financial Officer
On September 23, 2022, YETI Holdings, Inc. (the "Company" or "YETI") announced
that Paul Carbone had tendered his resignation as the Company's Chief Financial
Officer, such resignation to be effective as of October 28, 2022.
On September 29, 2022, the Board of Directors (the "Board") appointed Michael
McMullen, age 49, to serve as interim Chief Financial Officer and interim
principal accounting officer from October 28, 2022 until such time as the Board
appoints Mr. Carbone's permanent successor. Mr. McMullen joined YETI as Head of
Financial Planning & Analysis in February 2016 and has served as Vice President
of Finance since March 2017. Prior to joining YETI, Mr. McMullen served twelve
years with Dell Inc. in various financial roles and five years with
PricewaterhouseCoopers. Mr. McMullen holds a B.B.A. in Accounting from Texas A&M
University and an M.B.A. from Northwestern University Kellogg School of
Management.
In connection with the appointment, the Compensation Committee (the "Committee")
determined that, in addition to Mr. McMullen's base salary, he is entitled to
receive (i) a monthly stipend of $8,333.33 from October 28, 2022 until such time
as the Board appoints Mr. Carbone's permanent successor and (ii) a grant of
restricted stock units valued at $300,000, with the number of units to be
determined based on the closing price of the Company's common stock on October
28, 2022. Such units shall vest two months after the Board appoints Mr.
Carbone's permanent successor. In addition, the Committee designated Mr.
McMullen as a participant under YETI's Senior Leadership Severance Benefits
Plan.
There is no arrangement or understanding with any person pursuant to which Mr.
McMullen is being elected as interim Chief Financial Officer. There are no
family relationships between Mr. McMullen and any director or executive officer
of the Company, and he is not a party to any transaction requiring disclosure
under Item 404(a) of Regulation S-K.
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YETI HOLDINGS, INC. 
