Defendant Name: Express, Inc.

Defendant Type: Public Company
SIC Code: 5621
CUSIP: 30219E20

Initial Case Details

Legal Case Name In the Matter of Express, Inc.
First Document Date 17-Dec-2024
Initial Filing Format Administrative Action
File Number 3-22362
Allegation Type Issuer Reporting and Disclosure
AAER 4548

Violations Alleged

Exchange Act
• Rule 12b-20
• Sec 13(a)
• Rule 13a-1
• Rule 13a-15
• Sec 14(a)
• Rule 14a-3
• Rule 14a-9

Resolutions

First Resolution Date 17-Dec-2024

Related Documents:

34-101934 17-Dec-2024 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On December 17, 2024, the SEC instituted settled administrative and cease-and-desist proceedings against Express, Inc., stating: "This matter arises from Express, Inc.'s failure to disclose in its definitive proxy statements $979,269 worth of certain perquisites and personal benefits it paid on behalf of its Chief Executive Officer (the "CEO"), and member of its board of directors, for its fiscal years 2019, 2020, and 2021. Most of the undisclosed perquisites and personal benefits were costs associated with the CEO's authorized use of chartered private aircraft. Express did not have adequate controls, policies, or procedures in place to effectively identify and analyze potential compensation for disclosure. In connection with this conduct, Express violated Sections 13(a) and 14(a) of the Exchange Act and Rules 12b-20, 13a-1, 13a-15(a), 14a-3, and 14a-9 thereunder."
2024-203 17-Dec-2024 Press Release--Administrative Proceeding
SEC Charges Express, Inc. with Failing to Disclose Nearly $1 Million in Perks Provided to Former CEO; Commission Declines to Impose a Penalty Based on Company's Self-report, Cooperation, and Remediation
On December 17, 2024, the SEC "announced settled charges against Ohio-based Express, Inc., a multi-brand American fashion retailer, for failing to disclose executive compensation it paid to its now former CEO."