The TJX Companies Inc.
10/20/2026 | Press release | Distributed by Public on 10/20/2026 08:10
Management Change/Compensation (Form 8-K)
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 15, 2026, The TJX Companies, Inc. (the "Company") entered into a letter agreement (the "Agreement") with Kenneth Canestrari, Senior Executive Vice President, Group President, in connection with his planned retirement from the Company. The Agreement amends Mr. Canestrari's employment agreement with the Company dated February 2, 2018, as most recently amended as of February 2, 2024 (the "Employment Agreement"). Under the Agreement, Mr. Canestrari's employment will continue and the term of his Employment Agreement is extended until April 30, 2027. Effective January 31, 2027, he will no longer serve as an executive officer of the Company, and his employment will continue as a Senior Executive Vice President until his scheduled retirement date of April 30, 2027. During this period, Mr. Canestrari will continue to perform such duties and responsibilities as may be specified by the Company, including in connection with the transition of his responsibilities. Mr. Canestrari will continue to be eligible for compensation and benefits under his Employment Agreement. In connection with his scheduled retirement, he will not participate in the Company's Management Incentive Plan or Long Range Performance Incentive Plan ("LRPIP") for performance periods beginning in fiscal year 2028 or later and will not receive new equity grants under the Company's Stock Incentive Plan ("SIP"). Following Mr. Canestrari's retirement, he will be eligible for benefits under the Company's plans and programs in accordance with applicable plan terms, including, without limitation, special service recognition benefits with respect to his existing award opportunities under LRPIP and his outstanding awards under the SIP. Mr. Canestrari will remain subject to continuing non-competition, non-solicitation and confidentiality obligations under the Employment Agreement and applicable plan documents and agreements.
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