Ashlee Wheeler
About Ashlee Wheeler
Ashlee R. Wheeler, age 40, is Executive Vice President, Chief Strategy and Planning Officer at Torrid (CURV). She has served in this role since June 2024 after a 13+ year progression across planning roles at the company since 2011; prior to Torrid she held merchandise planning and related roles at True Religion and Lucky Brand Jeans. She holds an AA degree from the Fashion Institute of Design & Merchandising and a cosmetology degree from Paul Mitchell . Company performance context during her executive tenure includes FY2024 net income of $16.3 million (up from $11.6 million in FY2023) and a pay-versus-performance TSR value of $80.05 (value of $100 initial investment, up from $56.35 in FY2023); FY2024 annual incentive metrics were tied to Adjusted EBITDA with a ~$116 million target that paid out at 88.5% of target for eligible NEOs .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Torrid (CURV) | EVP, Chief Strategy & Planning Officer | Jun 2024 – Present | Led planning, strategy, pricing/promotion, omni-fulfillment and analytics remit following promotion . |
| Torrid (CURV) | SVP, Strategy & Company Planning | Sep 2022 – Jun 2024 | Drove inventory management improvements and pricing strategy optimization noted by CEO at promotion . |
| Torrid (CURV) | VP, Strategy & Company Planning | Apr 2019 – Sep 2022 | Advanced enterprise planning responsibilities across assortment and commercial planning . |
| Torrid (CURV) | Director, Company Planning | Apr 2017 – Apr 2019 | Led company planning responsibilities pre-VP promotion . |
| Torrid (CURV) | Manager, Merchandise Planning | Jun 2011 – Apr 2017 | Merchandise planning leadership foundation within Torrid . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Lucky Brand Jeans | Merchandising Planning | 5 years (dates not disclosed) | Merchandise planning experience prior to Torrid . |
| True Religion Brand Jeans | Merchandise planning and enterprise business solutions roles | Not disclosed | Planning/enterprise systems exposure pre-Torrid . |
Fixed Compensation
- Torrid’s program balances base salary, annual cash incentive, and long-term equity (RSUs, PSUs, and/or options), with annual base salary reviews by the Compensation Committee and CEO; specific base salary and bonus targets for Ms. Wheeler were not disclosed as she was not a named executive officer in FY2024 .
- Stock ownership guidelines (adopted Dec 2024) require Executive Vice Presidents to hold Company stock equal to 2x base salary; until met, executives must retain at least 50% of net after-tax shares from equity awards .
Performance Compensation
Annual Incentive Plan (Company structure; FY2024)
| Metric | Weighting | Target | Actual/Payout | Vesting/Payment Timing |
|---|---|---|---|---|
| Adjusted EBITDA | Not disclosed | ~$116 million | 88.5% of target payout for eligible NEOs | Paid in Q1 following fiscal year end . |
Note: The proxy discloses NEO target bonus percentages (CEO 150%, COO 80%, CFO 65% for FY2024), but does not disclose Ms. Wheeler’s target or payout .
Long-Term Incentive Program (LTIP) Structures (company standard terms)
| Award Type | Typical Vesting | Notes |
|---|---|---|
| RSUs | 4 equal annual installments, service-based | Standard for NEO grants in FY2024 . |
| Stock Options | 4 equal annual installments, service-based | Exercise price at grant FMV; standard for NEO grants . |
| PSUs (CEO example) | Time-vest over 3 years and performance-vest on VWAP hurdles ($15/$20/$25/$30) | Example reflects CEO grant design; not specific to Ms. Wheeler . |
- Award agreements provide that unvested equity is forfeited upon termination; the Compensation Committee retains discretion to accelerate vesting. CEO PSU award has a single-trigger time-vest on change in control; other awards are subject to agreement terms and Committee discretion .
Equity Ownership & Alignment
| Topic | CURV Policy/Disclosures |
|---|---|
| Beneficial ownership | Ms. Wheeler is not listed in the beneficial ownership table as she was not a director or NEO; therefore, her specific shareholdings are not disclosed . |
| Stock ownership guidelines | EVPs must hold 2x base salary; 50% net after-tax shares must be retained until compliance . |
| Hedging/Pledging | Company policy prohibits hedging transactions and pledging or holding Company stock in margin accounts by officers, directors, and employees . |
| Clawback | NYSE Rule 10D-compliant clawback requires recovery of excess incentive-based compensation upon a financial restatement for the prior 3 fiscal years; applies to current and former executive officers . |
| Lock-up agreements | Ms. Wheeler was a signatory to lock-up agreements in connection with a secondary offering announced June 26, 2025 (list of persons subject to lock-up includes Ashlee Wheeler); the form of lock-up was attached to the underwriting agreement . For the September 13, 2024 offering, lock-ups were for 90 days from the underwriting date (illustrative of the firm’s practice) . |
Employment Terms
| Item | Terms/Status |
|---|---|
| Employment agreement/offer letter | Specific terms for Ms. Wheeler are not disclosed in the proxy (FY2024 NEOs were CEO, COO/CTO, CFO, and former CCO) . |
| Severance plan | Executive Severance Plan adopted March 29, 2025; participation is designated by the Compensation Committee. Participants identified were COO/CTO Park and CFO Dempsey; CEO Harper was not; Ms. Wheeler was not listed as a participant as of the proxy filing . |
| Severance economics (if a participant) | Outside CIC: 12 months base salary continuance, Company-paid COBRA for 12 months, and outplacement up to $20,000 for 9 months. During CIC period: lump-sum 12 months base salary, prorated annual bonus based on actual performance, COBRA for 12 months, and outplacement (subject to release and covenants) . |
| Equity on termination/CIC | Unvested awards forfeited; Committee may accelerate at its discretion. CEO PSU has single-trigger time-vest on CIC; other awards are subject to agreement terms . |
| Restrictive covenants | The proxy describes proprietary information and inventions agreements and restrictive covenants for NEOs; comparable specific covenants for Ms. Wheeler are not disclosed . |
Performance & Track Record
- Promotion signal: Elevated to EVP and Chief Strategy & Planning Officer in June 2024, with CEO crediting her for “improvements in inventory management” and work to “maximize pricing strategy” .
- Operator commentary: On the Q2 FY2026 call, Ms. Wheeler outlined ongoing promotional activity to drive conversion amid choppy demand and highlighted increased upper-funnel marketing investment positioning for 2026 growth and sub-brand acceleration .
- Company performance markers: FY2024 net income of $16.3 million (vs. $11.6 million FY2023), and TSR value per pay-versus-performance of $80.05 (vs. $56.35 FY2023) provide context for the environment during her early EVP tenure .
Compensation Committee & Governance Context
- Compensation Committee uses independent consultant Exequity, reviews pay mix and risk, and emphasizes pay-for-performance across AIP and LTIP .
- Insider trading policy includes pre-clearance procedures and use of 10b5-1 plans for covered persons .
- CURV remains a “controlled company” under NYSE due to Sycamore’s majority voting power, relying on certain governance exemptions .
Investment Implications
- Alignment and retention: EVP-level 2x salary stock ownership requirement and mandatory net share retention enhance alignment; hedging and pledging prohibitions reduce misalignment risk; the NYSE-compliant clawback adds performance integrity .
- Disclosure gap for pay specifics: Ms. Wheeler was not an FY2024 NEO, so individual salary, target bonus, and equity grant details were not disclosed—investors should monitor future proxies and any Form 4 filings for award cadence and selling patterns once trading windows open .
- Incentive levers: Company AIP ties cash bonuses to Adjusted EBITDA with a clear target/outcome framework (FY2024 target ~$116M; payout 88.5%), which can drive near-term profitability focus in her planning remit; LTIP structures (time-based RSUs and options) support longer-term value creation .
- Trading signals: Ms. Wheeler’s inclusion in the June 26, 2025 offering lock-up indicates restricted near-term liquidity during the lock-up period; post-lock-up, watch for any Rule 10b5-1 plans or sales given blackout windows and insider trading policy constraints .
- Execution watchpoints: Her remit spans pricing, promotion, and inventory optimization—areas she has been credited with improving—so monitor KPIs on gross margin, inventory turns, promo intensity, and sub-brand mix progression discussed on calls for evidence of sustained value creation .