EX-1
from SC 13D/A
1 page
Casual Male's March 10, 2005 SEC 8-K Filing Effective January 27, 2005, Casual Male Retail Group, Inc. (The "Company") Accelerated the Vesting of All Outstanding Unvested Options Held by Directors, Officers and Employees Under the Company's 1992 Stock Incentive Plan. as a Result of the Acceleration, Options to Acquire 1,778,252 Shares of the Company's Common Stock, Which Otherwise Would Have Vested From Time to Time Over the Next 35 Months, Became Immediately Exercisable. the Company Accelerated These Options in Advance of the Effective Date of Statement of Financial Accounting Standards No. 123 (Revised 2004) "Share-Based Payment" ("Sfas 123r"). Sfas 123r Will Require That, Beginning July 31, 2005 (The Start of the Company's Third Fiscal Quarter), the Company Record as Compensation Expense in Its Statement of Operations the Fair Value of Employee Stock Options. the Company Has Estimated That the Transition Expense Associated With the Adoption of Sfas123r for These Outstanding Shares Would Have Resulted in a Charge of Approximately $3.6 Million to Be Recognized Over the Next Three Fiscal Years (Fiscal 2005 Through Fiscal 2007). as a Result of the Company's Decision to Accelerate the Vesting of These Options, the Company Has Been Able to Eliminate This Transition Expense. the Company Will, However, Recognize a One- Time Compensation Expense in Accordance With Apb Opinion No. 25 of Approximately $70,000 in the Fourth Quarter of Fiscal 2004 With Respect to Its In-The-Money Stock Options That Were Accelerated. in Authorizing This Acceleration, the Board of Directors Determined That the Overall Effect of Such Action Was in the Best Interests of the Company, Its Stockholders and Its Employees
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EX-1
from SC 13D/A
1 page
Exhibit 1 via Facsimile and Federal Express August 6, 2004 Deutsche Bank Alex. Brown 280 Park Avenue, 3rd Floor New York, Ny 10017 Attn: Christopher Lee Re: Advanced Instructions to Sell Common Stock Between Jewelcor Management, Inc. and Deutsche Bank ALEX.BROWN, a Division of Deutsche Bank Securities, Inc., Dated June 9, 2004 ("Advanced Instructions"), as Amended by That Amendment Agreement Dated June 9, 2004, (The "Amendment", and Together With the Advanced Instructions, the "Agreement"). Dear Mr. Lee: Pursuant to the Last Paragraph of the Advanced Instructions and Paragraph 2(j) of Schedule 1 to the Above Referenced Agreement, Jewelcor Management, Inc. Hereby Terminates the Agreement Effective Immediately and Requests That Deutsche Bank ALEX.BROWN Revoke and Cease All Sales Under the Agreement. Please Sign a Copy of This Letter in the Space Provided Below and Return It to Me. Call Me if You Have Any Questions. Sincerely, Jewelcor Management, Inc. By: _/S/ Seymour Holtzman Chairman and Chief Executive Officer Accepted: Deutsche Bank Alex Brown By: Title: Date: \\W2k3server\users$\jquigley\deutsche Bank Alex Brown Letter 8-6-04.doc
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