1-800-FLOWERS.COM Finalizes Separation Terms for Former President Thomas Hartnett
Summary
1-800-FLOWERS.COM has finalized the separation agreement for former President Thomas Hartnett, including a severance package of $823,846 in base salary and accelerated equity vesting.
Key Events
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Executive Separation Agreement Finalized
The company entered into a separation agreement with former President Thomas Hartnett, effective April 17, 2026, following his departure on February 28, 2026.
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Substantial Severance Package
Mr. Hartnett will receive continued base salary payments totaling $823,846 over 68 weeks, a pro rata cash bonus for fiscal year 2026, and healthcare continuation coverage.
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Accelerated Equity Vesting
The agreement includes accelerated vesting of outstanding restricted stock granted in December 2023 and November 2024, and an extended exercise period for stock options granted in November 2022.
Analysis
This 8-K filing details the separation agreement with former President Thomas Hartnett, who transitioned to a Special Advisor role in November 2025 and officially departed in February 2026. The agreement, effective April 17, 2026, includes a substantial severance package of $823,846 in base salary over 68 weeks, a pro rata bonus, healthcare continuation, accelerated vesting of restricted stock, and an extended exercise period for stock options. While the departure was previously known, these specific financial terms represent a material cost to the company, aligning with its ongoing restructuring efforts, including a previously announced $6.1 million workforce reduction.
At the time of this filing, FLWS was trading at $4.81 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $308.1M. The 52-week trading range was $2.89 to $8.44. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.