Jared Shure
Childrens PlaceAbout Jared Shure
Jared E. Shure, age 44, serves as Chief Administrative Officer, General Counsel & Corporate Secretary at The Children’s Place (PLCE). He joined PLCE in 2018 as VP, Assistant General Counsel; became Deputy General Counsel in 2019; General Counsel & Corporate Secretary in 2021; and Chief Administrative Officer in 2024, overseeing legal, HR, board governance, responsible sourcing, and enterprise risk . He holds a BS in Business Administration (UNC) and a JD (Cornell Law), with prior roles at Kate Spade & Company, Tapestry, and as an M&A associate at Paul, Weiss and O’Melveny & Myers . Company performance context in his current tenure: FY2024 Company TSR indexed to $16 vs peer group $140; net loss was $(57.8)M while adjusted operating income was $52.7M, framing pay-versus-performance and incentive design .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| The Children’s Place | VP, Assistant General Counsel | 2018–2019 | Joined legal leadership; supported corporate legal matters |
| The Children’s Place | Deputy General Counsel | 2019–2021 | Elevated legal responsibilities; board governance support |
| The Children’s Place | General Counsel & Corporate Secretary | 2021–2024 | Led legal and board governance; enterprise risk oversight |
| The Children’s Place | Chief Administrative Officer, General Counsel & Corporate Secretary | 2024–present | Oversees legal, HR, governance, responsible sourcing, enterprise risk |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Kate Spade & Company | Vice President & Corporate Counsel | Not disclosed | Corporate legal leadership |
| Tapestry, Inc. | Vice President & Deputy General Counsel | Not disclosed | Post-acquisition legal integration and leadership |
| Paul, Weiss; O’Melveny & Myers | M&A Associate | Not disclosed | Transactional experience; strategic deal execution |
Fixed Compensation
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Base Salary ($) | 419,712 | 425,000 | 489,904 |
| All Other Compensation ($) | 13,570 | 15,059 | 15,420 |
| Total Reported Compensation ($) | 1,183,367 | 708,551 | 1,268,124 |
Performance Compensation
Annual Bonus Outcomes and Targets
| Year | Target Bonus ($) | Actual Bonus Paid ($) | Plan Metric / Notes |
|---|---|---|---|
| 2023 | 212,500 (from Grants table) | 0 (no bonuses paid to NEOs for FY2023) | Adjusted operating income plan; Company below threshold |
| 2024 | 300,000 (from Grants table) | 200,000 | Committee exercised discretion due to change-in-control; emphasis on retention and execution of strategic transition |
LTIP: 2024 PRSUs – Performance Metrics and Vesting
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Adjusted Free Cash Flow (Company-defined) | 100% | Not disclosed | Not disclosed | 0%–200% of target PRSUs | 50% vests in April 2026 (FY2025 performance) and 50% in April 2027 (FY2026 performance), subject to performance and continued employment; double-trigger on change-in-control |
LTIP: 2024 Grants (Counts, Values, Vesting)
| Award Type | Grant Date | Target Shares (#) | Max Shares (#) | Grant-Date Fair Value ($) | Vesting |
|---|---|---|---|---|---|
| PRSUs | 11/1/2024 | 26,666 | 53,332 | 375,191 | 50% April 2026; 50% April 2027, subject to performance and employment |
| TRSUs (time-based) | 11/1/2024 | 13,334 | N/A | 187,609 | Vests May 29, 2025, subject to continued employment |
Equity Ownership & Alignment
- Beneficial ownership: 44,184 shares as of April 8, 2025; each named person owned <1% of outstanding shares; Directors and officers as a group owned ~0.62% .
- Stock ownership guidelines: CEO 5× salary; Brand President, CFO & Senior Vice Presidents 3× salary; retention of 67% of net shares from RSU vesting until guidelines met . Company prohibits hedging and pledging of Company stock, and trading in derivatives; applies to officers and employees . Clawback applies to short- and long-term incentives upon specified events, including restatements .
Unvested / Unearned Awards at FY2024 Year-End (Feb 1, 2025)
| Award | Shares (#) | Market/Payout Value ($) |
|---|---|---|
| TRSU (Aug 11, 2022) | 2,561 | 25,072 (at $9.79/share) |
| TRSU (Jun 9, 2023) | 5,017 | 49,116 (at $9.79/share) |
| TRSU (Nov 1, 2024) | 13,334 | 130,540 (at $9.79/share) |
| PRSU (Aug 11, 2022) Target | 7,679 | 75,177 (at $9.79/share) |
| PRSU (Jun 9, 2023) Target | 7,525 | 73,670 (at $9.79/share) |
| PRSU (Nov 1, 2024) Target | 26,666 | 261,060 (at $9.79/share) |
Recent Vesting Activity (FY2024)
| Shares Delivered (#) | Description | Value Realized ($) |
|---|---|---|
| 5,760 | Delivery of PRSUs granted Aug 2, 2021 | 41,530 |
| 2,508 | First partial vest of 7,525 TRSUs granted Jun 9, 2023 | 28,842 |
| 2,559 | Second partial vest of 7,679 TRSUs granted Aug 11, 2022 | 29,915 |
Employment Terms
- No individual employment agreement; offer letter terms include confidentiality, work product, non-solicit, non-compete . Non-CIC severance: salary continuation for 12 months if terminated without cause, reduced by outside earnings, contingent on release; non-compete/non-solicit duration equals severance period .
- Change-in-control (CIC) severance agreement: two-year term with auto-renewals; benefits upon termination by Company without cause or by executive for good reason within two years following a CIC; lump sum equal to 1.5× (base salary + average actual bonuses over prior three years); no excise tax gross-up; best-net cut or cap applies; “double trigger” required for equity vesting on CIC .
Potential Payments upon Termination or CIC (as of Feb 1, 2025)
| Scenario | Severance ($) | Time-Based RSUs ($) | Performance-Based RSUs ($) | Health & Welfare ($) | Total ($) |
|---|---|---|---|---|---|
| By Company without cause | 500,000 (salary continuation) | — | — | 15,420 | 515,420 |
| Following Change in Control | 914,789 (lump sum) | 204,728 | 409,907 | 23,130 | 1,552,554 |
| Death | — | 204,728 | 409,907 | — | 614,635 |
| Disability | — | 204,728 | 409,907 | — | 614,635 |
Compensation Peer Group (Benchmarking)
HC&C Committee used the following FY2024 peer group for benchmarking (size, specialty retail, investor capital competition): Abercrombie & Fitch; American Eagle Outfitters; Buckle; Caleres; Carter’s; Designer Brands; Genesco; G-III Apparel Group; Guess?; Lands’ End; Oxford Industries; Tilly’s; Zumiez .
Investment Implications
- Pay-for-performance and retention: 2024 discretionary bonus ($200k) aligned with change-in-control transition and retention emphasis; LTIP heavily PRSU-weighted (67%) tied to Adjusted Free Cash Flow, with near-term TRSU vesting (May 29, 2025) and PRSU cliffs (2026/2027) creating staggered vesting and moderate near-term selling pressure risk at vest dates for tax withholding .
- Alignment and governance safeguards: Robust clawback and strict prohibition on hedging/pledging bolster shareholder alignment; ownership guidelines require material stock holdings for senior leaders (3× salary roles), with mandatory net share retention until compliant .
- Retention/CIC economics: Non-CIC severance at 12 months provides baseline retention; CIC economics (1.5× salary+bonus avg and double-trigger equity) reduce flight risk during strategic control periods but may incent continuity through potential vesting events; no tax gross-ups mitigate shareholder-unfriendly optics .
- Trading signals: Upcoming TRSU/PRSU vesting dates (May 23, 2025; May 29, 2025; April 2026/2027) may coincide with Form 4 activity and tax-related disposals; dilution-protected share grants tied to the rights offering were reported via Form 4 on March 26, 2025, worth monitoring for incremental supply dynamics .
- Performance backdrop: FY2024 pay-versus-performance shows negative net income but positive adjusted operating income; depressed TSR vs peers highlights the importance of cash flow-based PRSU metrics for value creation and future payouts .