Sep 28, 7:01 AM ET
Vestis Corporation appointed Russell Tiejema as Executive Vice President and Chief Financial Officer effective September 28, 2026, succeeding Adam K. Bowen, who had served as interim CFO since December 16, 2025. The company also reaffirmed its fiscal year 2026 outlook, consistent with its August 11, 2026 third quarter earnings release. The filing shows no change to that outlook, and the new CFO's pay package is set out in his employment agreement.
- Russell Tiejema, 58, was most recently CFO of US LBM, from June 2024 to July 2026, and previously CFO of Masonite International
- Initial base salary of $700,000, a 100% target bonus beginning fiscal 2027, and a $2,500,000 one-time sign-on equity award
- Annual LTIP target grant date value of $1,750,000 beginning fiscal 2027, subject to committee approval
- Adam K. Bowen, interim CFO, intends to remain with the company through the end of October 2026
Read the filing on SEC.gov ↗
Aug 11, 7:04 AM ET
Vestis reported fiscal third-quarter 2026 revenue of $661.7 million, down 1.8% from the prior year, while net income rose to $11.0 million, or $0.08 per diluted share, from a net loss of $0.7 million. The company raised its fiscal 2026 free cash flow outlook to $160.0 million to $170.0 million, which shareholders can weigh against the unchanged revenue outlook of flat to down 2%.
- Q3 revenue was $661.7 million, down $12.1 million or 1.8% from $673.8 million; pounds processed fell 4.5%.
- Q3 net income was $11.0 million, or $0.08 per diluted share, versus a net loss of $0.7 million a year earlier; Adjusted EBITDA was $80.9 million versus $64.0 million.
- Fiscal 2026 free cash flow outlook raised to $160.0 million to $170.0 million from $120.0 million to $150.0 million; Adjusted EBITDA outlook of $310.0 million to $315.0 million, midpoint up $2.5 million to $312.5 million.
- Available liquidity was $351.8 million at July 3, 2026, after the company repaid $30.0 million of debt in the quarter.
Read the filing on SEC.gov ↗
Jun 15, 4:02 PM ET
On June 12, 2026, Vestis entered into second amended employment documents with Adam K. Bowen, its Interim Chief Financial Officer, superseding his December 2025 agreements. The filing sets out pro-rata and full fiscal 2026 bonus payment terms if he leaves, and new one-time cash awards tied to the search for a permanent CFO.
- Base salary stays at $400,000, with a target annual bonus of 35% of base salary under the MIB plan.
- The $100,000 discretionary award Bowen received in December 2025 no longer has to be repaid.
- He will receive a $100,000 award payable in June 2026, plus $100,000 for each three-month period after June 1, 2026 while no permanent CFO is appointed.
- If he is not selected as permanent CFO, his role reverts to Vice President, Financial Planning & Analysis.
Read the filing on SEC.gov ↗
May 12, 7:07 AM ET
Vestis reported fiscal second quarter 2026 revenue of $659.4 million, down 0.9% from a year earlier, and net income of $2.6 million, compared with a net loss of $27.8 million a year ago. The company raised its fiscal 2026 Adjusted EBITDA outlook to $295 million to $325 million and its Free Cash Flow outlook to $120 million to $150 million, which it says reflects progress on its business transformation plan.
- Q2 net income of $2.6 million, or $0.02 per diluted share, versus a net loss of $27.8 million in the prior-year quarter
- Adjusted EBITDA of $74.5 million, versus $47.6 million in the prior-year quarter
- Fiscal 2026 Adjusted EBITDA outlook raised to $295 million to $325 million from $285 million to $315 million; Free Cash Flow outlook raised to $120 million to $150 million from $50 million to $60 million
- Repaid $34.0 million of debt during the quarter; available liquidity was $344.5 million as of April 3, 2026
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.