Build-A-Bear (NYSE: BBW) taps insider Chris Hurt as next CEO

Rhea-AI Filing Summary

Build-A-Bear Workshop is implementing a planned CEO succession, with longtime executive Chris Hurt set to become Chief Executive Officer on June 11, 2026, succeeding Sharon Price John, who will retire from the role but remain on the Board.

Hurt, currently Chief Operations and Experience Officer, has led key elements of the company’s multi-year retail turnaround, international expansion, and brand, merchandising, and marketing initiatives. His new CEO agreement provides a base salary of at least $700,000, an annual bonus target of at least 100% of base salary, and eligibility for equity awards, including an anticipated $1,200,000 long-term incentive for 2026 weighted 70% performance-based and 30% time-based restricted stock.

The agreement runs an initial three-year term from March 12, 2026, with various termination and severance protections, including a lump-sum equivalent to 18 months of certain health and welfare benefits upon specified terminations. The company highlights that fiscal 2025 marked its 5th consecutive record year with total revenues of $529.8 million, underscoring a leadership change occurring against a backdrop of strong recent performance.

Insights

Corporate governance analyst

Planned CEO handoff with strong internal successor and structured incentives.

Build-A-Bear is transitioning CEO duties from Sharon Price John to internal candidate Chris Hurt in a multi-year, Board-driven succession process. Hurt has deep experience across operations, international expansion, merchandising and marketing, and is already integrated into the existing strategy and culture.

The new CEO agreement, with at least $700,000 base salary, a 100% of salary bonus target, and a planned $1,200,000 long-term equity award for 2026, tightly links his compensation to performance and shareholder alignment via performance-based restricted stock. The three-year term and defined severance and benefit protections provide leadership stability.

The company notes $529.8 million in total revenues for fiscal 2025, its 5th consecutive record year, suggesting the handoff occurs from a position of operational strength. Future filings may provide additional detail on how Hurt’s leadership influences growth initiatives, international expansion, and brand strategy over subsequent reporting periods.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 10, 2026

Build-A-Bear Workshop, Inc.

-------------------------------------------------

(Exact Name of Registrant as Specified in Its Charter)

Delaware --------------------------- (State or Other Jurisdiction of Incorporation) 001-32320 ------------------- (Commission File Number) 43-1883836 --------------------------- (IRS Employer Identification No.)

415 South 18th St., St. Louis, Missouri ---------------------------------------------------- (Address of Principal Executive Offices) 63103 ------------------ (Zip Code)

(314) 423-8000

------------------------------------------

(Registrant’s Telephone Number, Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01 per share	BBW	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On March 12, 2026, as part of a planned succession process, Build-A-Bear Workshop, Inc. (the “Company”) announced that Sharon Price John will retire as its President and Chief Executive Officer following a transition period, and that the Company had appointed J. Christopher Hurt, 59, to become Chief Executive Officer following such transition period. Ms. John’s employment agreement with the Company will terminate at the time of her retirement on June 11, 2026, the date of the Company’s 2026 annual meeting of stockholders, which will also be the effective date of Mr. Hurt’s promotion to Chief Executive Officer (the “Promotion Effective Date”).

Ms. John will continue to serve as a non-independent Class II director on the Company’s Board of Directors (the “Board”), with a term through the Company’s 2027 annual meeting of stockholders. In addition, in connection with his promotion to Chief Executive Officer, on March 10, 2026, the Board increased the size of the Board to eight (8) members and appointed Mr. Hurt to the Board as a Class II director, with such appointment to become effective as of the Promotion Effective Date. The Company is not aware of any transactions, proposed transactions or series of either to which the Company or any of its subsidiaries was or is to be a party, in which the amount involved exceeds $120,000 and in which Mr. Hurt had, or will have, a direct or indirect material interest required to be disclosed pursuant to Item 404(a) of Regulation S-K.

Since joining Build-A-Bear Workshop in 2015, Mr. Hurt served as Chief Operations Officer, and more recently, Chief Operations and Experience Officer. Much of his tenure focused on restructuring the organization’s largest business unit, the global retail management and operations team, including guest experience, real estate, build-out, and logistics. During his oversight, the Company executed a successful multi-dimensional retail turnaround, resulting in best-in-class vertical retail operations, generating top-tier profitability for the experience-driven brand as well as reigniting international expansion. Since early 2024, Mr. Hurt shifted his operational and consumer-insight expertise to redefine the Brand, Merchandising, Marketing, and Licensing areas of the business where he has further extended consumer segments and categories through product expansion and engaging brand initiatives. Prior to joining the Company, Mr. Hurt was at American Eagle Outfitters, Inc. from 2002 to 2015 in various senior leadership roles of increasing responsibility, including Senior Vice President of North America, Vice President/General Manager of the Factory stores, Zone Vice President and Regional Director. Prior to that, Mr. Hurt held positions of increasing responsibility at Polo Ralph Lauren after starting his career at The Procter & Gamble Company.

The Company and Mr. Hurt have entered into a CEO Employment, Confidentiality and Noncompete Agreement (the “Agreement”) effective as of March 12, 2026 (the “Effective Date”), under which, as noted above, he will continue to serve as Chief Operations and Experience Officer through the transition period ending on the Promotion Effective Date, at which time he will become as the Company’s Chief Executive Officer.

The Agreement has an initial term of three years from the Effective Date, renewing year-to-year thereafter unless terminated in accordance with the terms of the Agreement. Under the Agreement, and in accordance with the terms and conditions included in the Agreement, Mr. Hurt will receive an annual base salary of not less than $700,000, to be reviewed annually; will be eligible for an annual bonus with a target value equal to no less than 100% of his earned annual base salary, payable in cash, stock, stock options, or a combination thereof; and will be eligible to receive equity or other awards under the Company’s Amended and Restated 2020 Omnibus Incentive Plan (or any successor plan) (the “Omnibus Plan”). Mr. Hurt will also be eligible to participate in the Company’s health and other welfare benefits as may be offered from time to time to other similarly situated employees, including participation in the Company’s 401(k) plan with Company match.

The Agreement may be terminated by the Company prior to the end of the term upon death, disability, for cause (as defined in the Agreement) or without cause. Mr. Hurt may terminate the Agreement with or without good reason (as defined in the Agreement). Mr. Hurt is entitled to certain salary continuation and/or lump sum payments if the Company terminates his employment upon his death, disability or without cause, or if Mr. Hurt terminates his employment for good reason, in accordance with the terms set forth in the Agreement and dependent on the event of termination. In the case of any termination of his employment, Mr. Hurt is entitled to a lump sum payment equivalent to 18 months of the continuation of certain health and welfare benefits.

Mr. Hurt is also subject to non-competition, non-solicitation, non-disparagement, and confidentiality provisions included in the Agreement.

The foregoing summary of Mr. Hurt’s Agreement is qualified in its entirety by reference to the terms of the Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

In addition, it is anticipated that Mr. Hurt will receive a long-term incentive award for 2026 with a value of $1,200,000, with a weighting of performance-based restricted stock at 70% and time-based restricted stock at 30%, at the Company's upcoming award cycle, all subject to final approval of the Company’s Board of Directors and its Compensation and Human Capital Committee and associated vesting requirements.

On March 12, 2026, the Company issued a press release announcing Mr. Hurt’s appointment. A copy of this press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number	Description of Exhibit
10.1	CEO Employment, Confidentiality and Noncompete Agreement, effective as of March 12, 2026 by and between J. Christopher Hurt and Build-A-Bear Workshop, Inc.
99.1	Press Release dated March 12, 2026
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: March 12, 2026 BUILD-A-BEAR WORKSHOP, INC.   By: /s/ Yevgeny Fundler Name:  Yevgeny Fundler Title:     Chief Legal Officer and Secretary

Exhibit 99.1

Build-A-Bear Workshop Announces Chief Executive Officer Succession

Chris Hurt To Become Chief Executive Officer as Sharon Price John To Retire From Position Following Planned Transition Period

ST. LOUIS, MO (March 12, 2026) - The Board of Directors of Build-A-Bear Workshop (NYSE: BBW) announced today that as part of a multi-year planned succession process, longtime Build-A-Bear President and CEO Sharon Price John intends to retire from her role effective June 11, 2026, the date of the Company’s Annual Shareholders’ Meeting. In a unanimous vote, the Board appointed the Company’s tenured Chief Operations and Experience Officer Chris Hurt to succeed Price John as Chief Executive Officer, who will transition her responsibilities to Hurt during this period. The Board also appointed Hurt to the Board of Directors effective upon assuming the CEO role, and Price John will remain on the Board and help to ensure a smooth transition.

“Chris has clearly demonstrated his knowledge, skill, leadership and passion over the last ten years, and in turn, has generated tremendous value for Build-A-Bear and its stakeholders. He also has a remarkable ability to connect with the organization in a way that not only creates a strong culture but drives people toward success, making him the ideal candidate,” said Craig Leavitt, Chairman of Build-A-Bear Workshop’s Board of Directors. “Chris’s appointment concludes a thorough and extensive succession planning process in which we partnered with a best-in-class firm to aid in the assessment and exploratory search. His outstanding record of business achievement, strategic initiative, exceptional knowledge and trust of the organization, as well as his dedication to the continued success and expansion of the company, served as proof points supporting the Board’s confidence that he is uniquely prepared to drive the corporation forward in a manner that is designed to continue creating long-term shareholder value.”

During his decade-long tenure at the beloved global experiential brand and retail company, Hurt has played an invaluable part in both the organization’s multi-year turnaround as well as development and execution of the company’s strategy that has driven the current positive results including today’s announcement of its 5^th consecutive record year for fiscal 2025. While Hurt’s comprehensive areas of oversight have included Real Estate, International, Logistics, and more recently, Merchandising, Marketing and Licensing, he was originally hired and spent the majority of his tenure leading the Company’s global retail organization, representing its largest revenue generating business unit overseeing over 4,000 employees. Not only did Hurt play a critical role driving initiatives that returned the store fleet to profitability, posting significant expansion in store contribution margin, he is also the architect of the recent successful global expansion of Build-A-Bear, leveraging a unique capital light partner-operated model to efficiently introduce the brand to more fans around the world.

“Chris has proven himself as a great leader and, given his success overseeing multiple areas at the company, has had the outstanding and diverse experience to prepare him to be our next CEO,” said Price John. “He has been an incredible partner over the last ten years and brings a consumer-centric, brand-building, data-driven approach to everything he touches. As an instrumental contributor to the current success of the company, Chris understands and simultaneously embraces our heart-felt culture combined with both a drive and ability to continue to move the organization to even greater heights. I look forward to continuing to serve on the Board and as an advisor to Chris in his new role.”

Since 2013, Price John and her leadership team have overseen a financial turnaround to return to profitability and spearheaded a strategic transformation to leverage the power of the brand to expand the business across a number of initiatives including extending the addressable market and the global footprint. This was in conjunction with successfully guiding the organization through periods of significant external disruption, including COVID, while building a team, improving the corporate infrastructure, and executing an on-going digital transformation to position the company to scale at a more rapid pace while driving profitable growth.

“I would like to express my appreciation to the Board for entrusting me with this opportunity to continue to expand on our successful strategy as the next CEO of Build-A-Bear, a company that means so much to me,” said Hurt. “During my time at Build-A-Bear I have learned and intend to continue to honor that our real power comes from our associates and the memorable moments we create for guests of all ages around the world each day through our amazing in-store experiences.”

“I would also like to personally thank Sharon for her friendship, on-going counsel and inarguable positive impact on this company while acknowledging our founder Maxine Clark for her support and legendary work as a pioneer in experiential retail,” concluded Hurt.

“On behalf of the entire Board, we would also like to extend our appreciation to Sharon,” continued Leavitt. “Over nearly thirteen years after taking over from the founder, Sharon has led Build-A-Bear with heart while identifying and driving toward a powerful vision for the company designed to leverage and monetize the enormous equity of this iconic brand, which has delivered exceptional results and shareholder return.”

About Chris Hurt

Since joining Build-A-Bear Workshop in 2015, Hurt served as Chief Operations Officer, and more recently, Chief Operations and Experience Officer. Much of his tenure focused on restructuring the organization’s largest business unit, the global retail management and operations team, including guest experience, real estate, build-out, and logistics. During his oversight, the company executed a successful multi-dimensional retail turnaround, resulting in best-in-class vertical retail operations, generating top-tier profitability for the experience-driven brand as well as reigniting international expansion. Since early 2024, Chris shifted his operational and consumer-insight expertise to redefine the Brand, Merchandising, Marketing and Licensing areas of the business where he has further extended consumer segments and categories through product expansion and engaging brand initiatives. Prior to joining the Company, Hurt was at American Eagle Outfitters, Inc. from 2002 to 2015 in various senior leadership roles of increasing responsibility, including Senior Vice President of North America, Vice President/General Manager of the Factory stores, Zone Vice President and Regional Director. Prior to that, Hurt held positions of increasing responsibility at Polo Ralph Lauren after starting his career at The Procter & Gamble Company.

Succession Planning Process 

Hurt’s election as CEO concludes a thorough and extensive succession planning process driven by the Board with the goal of identifying a leadership transition that aligns with the company’s culture, long-term strategic objectives, and shareholder interests. The full Board undertook a deliberate, multi-year succession planning process, meeting regularly to evaluate internal and external candidates, transition structures, organizational frameworks, and planning for potential impacts of succession decisions across the company. It also engaged a best-in-class global consulting and search firm in completing the process. Hurt also underwent a rigorous preparation process with the aid of the firm, in addition to extensive mentorship from Price John, external coaching, and direct engagement with all directors.

About Build‑A‑Bear Workshop, Inc. 

Founded in 1997, Build‑A‑Bear is a leading global retailtainment brand on a mission to add a little more heart to life. At Build-A-Bear, guests are invited to create personalized furry friends through a unique stuffing, dressing, accessorizing and naming process, accentuated by a memorable "heart ceremony" that creates moments of connection for people of all ages. 

Over the years, Build‑A‑Bear has grown into a multi‑generational phenomenon, positioned at the intersection of pop‑culture trends. Beyond its signature retail experience, the brand also offers pre‑stuffed plush, gifting, partnerships with best‑in‑class licensed and collectible characters, and original storytelling through Build‑A‑Bear Entertainment, LLC.  Build‑A‑Bear’s current brand platform and message, “The Stuff You Love,” crosses ages and cultures while celebrating nearly 30 years of helping people mark life’s meaningful moments. 

Today, Build‑A‑Bear operates more than 650 company-owned, partner-operated and franchise experience locations across more than 30 countries, complemented by buildabear.com. Build‑A‑Bear Workshop, Inc. (NYSE: BBW) reported $529.8 million in total revenues for fiscal 2025, representing the company's 5th consecutive year of record results. Learn more at the Investor Relations section of buildabear.com.    

Forward-Looking Statements

This press release contains certain statements that are, or may be considered to be, “forward-looking statements” for the purpose of federal securities laws, including, but not limited to, statements that reflect our current views with respect to future events and financial performance. We generally identify these statements by words or phrases such as “may,” “might,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “intend,” “predict,” “future,” “potential” or “continue,” the negative or any derivative of these terms and other comparable terminology. All the information concerning our future liquidity, future revenues, margins and other future financial performance and results, achievement of operating of financial plans or forecasts for future periods, sources and availability of credit and liquidity, future cash flows and cash needs, success and results of strategic initiatives and other future financial performance or financial position, as well as our assumptions underlying such information, constitute forward-looking information. 

These statements are based only on our current expectations and projections about future events. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by these forward-looking statements, including those factors discussed under the caption entitled “Risks Related to Our Business” and “Forward-Looking Statements” in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on April 18, 2024 and other periodic reports filed with the SEC which are incorporated herein. 

All our forward-looking statements are as of the date of this Press Release only. In each case, actual results may differ materially from such forward-looking information. We can give no assurance that such expectations or forward-looking statements will prove to be correct. An occurrence of or any material adverse change in one or more of the risk factors or other risks and uncertainties referred to in this Press Release or included in our other public disclosures or our other periodic reports or other documents or filings filed with or furnished to the SEC could materially and adversely affect our continuing operations and our future financial results, cash flows, available credit, prospects, and liquidity. Except as required by law, the Company does not undertake to publicly update or revise its forward-looking statements, whether as a result of new information, future events or otherwise. 

All other brand names, product names, or trademarks belong to their respective holders.  

Investor Relations Contact                   

Gary Schnierow, Vice President, Investor Relations & Corporate Finance 

garys@buildabear.com

Media Relations Contact

pr@buildabear.com

###

FAQ

What CEO succession did Build-A-Bear Workshop (BBW) announce?

Build-A-Bear Workshop announced a planned CEO transition where longtime President and CEO Sharon Price John will retire from the role on June 11, 2026, and senior executive Chris Hurt will become Chief Executive Officer, while Price John remains on the Board to support a smooth transition.

When will Chris Hurt officially become CEO of Build-A-Bear (BBW)?

Chris Hurt will officially become Chief Executive Officer on June 11, 2026, the date of Build-A-Bear’s 2026 annual shareholders’ meeting. Until that Promotion Effective Date, he continues as Chief Operations and Experience Officer while responsibilities are transitioned from outgoing CEO Sharon Price John.

What are the key compensation terms for new Build-A-Bear (BBW) CEO Chris Hurt?

Under his CEO agreement, Chris Hurt will receive an annual base salary of at least $700,000 and an annual bonus target of at least 100% of base salary, plus eligibility for equity grants, including an anticipated $1,200,000 long-term incentive award for 2026 in restricted stock.

How has Build-A-Bear (BBW) performed financially leading into this CEO change?

Build-A-Bear reported total revenues of $529.8 million for fiscal 2025, marking its fifth consecutive year of record results. The company describes this performance as the outcome of a multi-year turnaround and strategic expansion, providing a strong backdrop for the planned CEO transition.

Will Sharon Price John remain involved with Build-A-Bear (BBW) after retiring as CEO?

Yes. After retiring as CEO effective June 11, 2026, Sharon Price John will continue to serve as a non-independent Class II director on the Board through the 2027 annual meeting and is expected to help ensure a smooth leadership transition alongside incoming CEO Chris Hurt.

How long is Chris Hurt’s CEO employment agreement with Build-A-Bear (BBW)?

Chris Hurt’s CEO Employment, Confidentiality and Noncompete Agreement has an initial three-year term starting March 12, 2026, and automatically renews year-to-year unless terminated under its terms. It includes defined severance and benefit continuation provisions for various termination scenarios, including certain lump-sum health and welfare benefits.

Filing Exhibits & Attachments

6 documents

Press Releases

• EX-99.1 EXHIBIT 99.1 21.5 KB

Agreements & Contracts

• EX-10.1 EXHIBIT 10.1 81.5 KB

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