Bath & Body Works grants CEO a $10M performance stock unit award

Bath & Body Works, Inc. (NYSE: BBWI) granted a performance stock unit award valued at $10 million to Chief Executive Officer Daniel Heaf on September 21, 2026, according to a company statement.

The award, approved by the Human Capital and Compensation Committee of the Board of Directors, consists of a target of 591,366 shares of company common stock. The units are tied to stock price performance hurdles over a four-year period.

Under the terms of the award, the percentage of target units earned depends on the company's average closing stock price over any 60 consecutive trading days during the performance period. If the stock reaches $40, 75% of target units are earned; at $60, 100% are earned; at $80, 150% are earned; and at $100, 200% are earned.

Any earned units will vest on the fourth anniversary of the grant date, generally subject to Heaf's continued employment through that date or an earlier qualifying termination. The number of earned units will generally be reduced by 50% if Bath & Body Works' total shareholder return relative to companies in the S&P 1500 Consumer Discretionary Distribution & Retail Index falls below the 55th percentile at the end of the four-year performance period.

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