LL Flooring Announces Departure of Chief Accounting Officer

On October 10, 2022, LL Flooring Holdings, Inc. (the “Company”) notified Timothy J. Mulvaney, SVP and Chief Accounting Officer, that Mr. Mulvaney’s employment would end on October 10, 2022, and, subject to his execution of a waiver and release, he would receive the payments provided for under Section 1.3 of his severance agreement dated March 15, 2019.

The Company also announced that Chasity Grosh has been appointed SVP and Chief Accounting Officer, effective October 11, 2022. Ms. Grosh, age 44, joins the Company from Capital One Financial Corporation where she served as Vice President, Card Controller, from 2018 to September 2022; Senior Director, Home Loans/Retail/Commercial/Auto, from 2016 to 2018; Senior Director, Central Accounting, from 2014 to 2016; and Director, Controller’s Group/Finance Compliance and Risk, from 2011 to 2014. Prior to that, she held various controllership, accounting and audit roles with General Electric, The Martin Agency, Ernst & Young, and KPMG.

In her role with the Company, Ms. Grosh will receive an annual base salary of $340,000. She will be eligible for a cash award under the Company’s annual incentive plan with a target award of 40% of base salary, and she will participate in the Company’s long-term equity incentive program. Ms. Grosh will also receive a one-time sign-on cash bonus of $100,000 and a one-time sign-on equity award with a grant date value of $120,000.

Ms. Grosh has no family relationships with any director or executive officer of the Company, and there are no arrangements or understandings with any person pursuant to which she will be selected as an officer of the Company. In addition, there have been no transactions directly or indirectly involving Ms. Grosh that would be required to be disclosed pursuant to Item 404(a) of Regulation S-K under the Securities Exchange Act of 1934.

Source: LL Flooring Holdings, Inc.