Five Below, Inc. announced on September 21, 2026, that it has appointed Scott Settersten to its Board of Directors. Mr. Settersten is a former Chief Financial Officer of Ulta Beauty, having served in that role from 2012 until his retirement in March 2024. In this position, he oversaw finance, accounting, tax, treasury, procurement, internal audit, investor relations, loss prevention, and real estate teams.
Mr. Settersten brings over 15 years of experience at PricewaterhouseCoopers LLP as a certified public accountant in assurance and risk management practices. He also previously served as a director and member of the audit committee at Kimball International from July 2020 to June 2023.
The company stated that Mr. Settersten is an independent director who will serve on the Board’s Audit Committee. His appointment was recommended by the Board’s Nominating and Corporate Governance Committee. Mr. Settersten will serve until the 2027 annual meeting of shareholders and is expected to be nominated for reelection at that time.
In connection with his election, Five Below granted Mr. Settersten an initial equity award of 545 restricted stock units. This grant will vest at the Company’s next annual meeting of shareholders, subject to his continued service on the Board. The company noted that Mr. Settersten is eligible to participate in compensation arrangements for non-employee directors as described in the annual proxy statement filed on May 1, 2026.
With this appointment, the size of Five Below’s Board of Directors increased from nine to ten members. The company emphasized that Mr. Settersten has no arrangement or understanding with any other persons regarding his selection as a director and has no transactions requiring disclosure under Item 404(a) of Regulation S-K.
