SEC Charges Express, Inc. with Failing to Disclose Nearly $1 Million in Perks Provided to Former CEO

The Securities and Exchange Commission today 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. According to the SEC’s order, in definitive proxy statements for fiscal years 2019, 2020, and 2021, Express failed to disclose $979,269 worth of perks and personal benefits provided to its CEO, including certain expenses associated with the CEO’s authorized use of chartered aircraft for personal purposes. As a result, the company, which filed for Chapter 11 bankruptcy earlier this year, understated the “All Other Compensation” portion of its CEO’s compensation by an average of 94 percent over the three fiscal years.