Hartnett exit deal at 1-800-Flowers (NASDAQ: FLWS) outlined
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
1-800-FLOWERS.COM, Inc. outlines the separation terms for former President Thomas Hartnett, who moved to Special Advisor in November 2025 and left the company on February 28, 2026. The separation arrangements became effective April 17, 2026.
Hartnett will receive continued base salary over a 68-week severance period totaling $823,846, a pro rata fiscal 2026 cash bonus tied to the Company’s Sharing Success Plan performance, and healthcare continuation during the severance period. He also receives accelerated vesting of restricted stock granted in December 2023 and November 2024 and an extended exercise period for stock options granted in November 2022, which he may now exercise until the end of their term. The agreement includes a general release of claims in favor of the Company and Hartnett’s commitment to certain restrictive covenants.
Positive
- None.
Negative
- None.
8-K Event Classification
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
1 item
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Key Figures
Severance salary total: $823,846
Severance Period length: 68 weeks
Fiscal 2026 bonus: Pro rata cash bonus
+1 more
4 metrics
Severance salary total
$823,846
Continued base salary over Severance Period
Severance Period length
68 weeks
Duration of continued base salary and healthcare
Fiscal 2026 bonus
Pro rata cash bonus
Payable if Sharing Success Plan performance goals are achieved
Separation effective date
April 17, 2026
Effective date of Hartnett’s separation arrangements
Key Terms
Severance Period, restricted stock, stock options, general release of claims, +2 more
6 terms
Severance Period financial
"continued base salary payments for 68 weeks (the “Severance Period”)"
restricted stock financial
"accelerated vesting of the outstanding restricted stock granted to Mr. Hartnett"
Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.
stock options financial
"extension of the exercise period for the outstanding stock options granted"
Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.
general release of claims regulatory
"a general release of claims by Mr. Hartnett in favor of the Company"
restrictive covenants regulatory
"Mr. Hartnett’s agreement to comply with certain restrictive covenants"
Restrictive covenants are contract terms that limit what a company, its executives, or shareholders can do—like rules that prohibit selling stock, starting a rival business, or taking on certain debts. Think of them as house rules that protect one party’s interests by keeping risky or competitive actions off the table. For investors they matter because these limits affect a company’s flexibility, governance, potential future value and the ease of exiting an investment.
Sharing Success Plan financial
"to the extent the Company achieves the pertinent performance measures of its Sharing Success Plan"
FAQ
What did 1-800-FLOWERS.COM (FLWS) disclose about Thomas Hartnett’s departure?
1-800-FLOWERS.COM disclosed finalized separation terms for former President Thomas Hartnett. He transitioned to Special Advisor in November 2025 and left on February 28, 2026, with a severance package effective April 17, 2026, including cash, benefits, and equity-related provisions.
How much severance pay will Thomas Hartnett receive from 1-800-FLOWERS.COM (FLWS)?
Thomas Hartnett will receive continued base salary payments totaling $823,846 over a 68-week severance period. These payments are part of his negotiated separation arrangements following his departure as President and Special Advisor from 1-800-FLOWERS.COM, Inc.
Does Thomas Hartnett’s exit package from FLWS include a bonus opportunity?
Yes. Hartnett is eligible for a pro rata cash bonus for fiscal 2026, but only if 1-800-FLOWERS.COM meets the performance measures in its Sharing Success Plan. This links his final bonus to the company’s actual financial and operational results for that year.
What happens to Thomas Hartnett’s restricted stock and options at 1-800-FLOWERS.COM?
Hartnett’s outstanding restricted stock from December 2023 and November 2024 vests early, giving him full ownership. His November 2022 stock options receive an extended exercise window, allowing him to exercise them until the end of their original term rather than a shorter post-employment period.
What non-cash terms are included in Thomas Hartnett’s separation from FLWS?
Beyond cash and benefits, Hartnett signed a general release of claims in favor of 1-800-FLOWERS.COM and agreed to certain restrictive covenants. These typically protect the company’s interests by limiting legal actions and setting boundaries on future competitive or related activities.
Does Thomas Hartnett keep healthcare benefits after leaving 1-800-FLOWERS.COM?
Yes. As part of his separation arrangements, 1-800-FLOWERS.COM will provide healthcare continuation coverage during the 68-week severance period. This extends his access to company health benefits for the same duration as his ongoing salary payments.