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Get filing alertsKohl's appoints Elliott Rodgers as COO with $900K salary, $2.5M annual equity target
Filed June 15, 2026 · Period ending June 10, 2026 · ~1 min read
Key Changes
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high
Elliott Rodgers, 50, joins as Chief Operating Officer effective September 9, 2026. Previously COO at Foot Locker and held senior operations roles at Ulta Beauty and Target, bringing retail operations expertise during Kohl's transformation efforts.
Item 5.02 verify on EDGAR → -
high
Compensation package includes $900K base salary, annual cash bonus target of 130% of salary ($1.17M), and $2.5M annual long-term incentive target split 60% performance shares, 40% restricted stock. Total target compensation approximately $4.6M annually.
Item 5.02 verify on EDGAR → -
medium
Fiscal 2026 equity award prorated to $1.875M based on September start date. Performance share units tie significant portion of compensation to company results, aligning executive interests with shareholders.
Item 5.02 verify on EDGAR → -
low
Offer includes $400K signing bonus subject to repayment if Rodgers leaves voluntarily or is terminated for cause within one year, and $250K pre-employment termination protection if company withdraws offer before start date.
Item 5.02 verify on EDGAR →
Summary
Kohl's has appointed Elliott Rodgers as Chief Operating Officer, filling a critical leadership role as the retailer works to improve operational efficiency and compete in a challenging retail environment. Rodgers brings relevant experience from Foot Locker, where he served as COO, and Ulta Beauty, where he led supply chain and technology operations. His background in omnichannel retail and supply chain optimization could prove valuable as Kohl's continues its turnaround efforts.
The compensation package is substantial but market-competitive for a COO role at a company of Kohl's size, with significant equity weighting that ties pay to performance. The $2.5 million annual long-term incentive target, weighted 60% toward performance shares, creates alignment with shareholder interests. Investors should watch for operational improvements in areas like inventory management, fulfillment efficiency, and store productivity following Rodgers' arrival, as these metrics will indicate whether the new COO is delivering value on his compensation package.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On June 10, 2026, Elliott Rodgers accepted his appointment as Chief Operating Officer of Kohl’s Corporation (the “Company”). Mr. Rodgers’ appointment will be effective September 9, 2026.
Kohl's appointed Elliott Rodgers, age 50, as Chief Operating Officer effective September 9, 2026. Mr. Rodgers previously served as Executive Vice President, Chief Operations Officer at Foot Locker from December 2022 to September 2025, and held leadership roles at Ulta Beauty including Chief Information Officer and Chief Supply Chain Officer. He brings experience from Target, Citigroup, and military service as a U.S. Army Captain.
Added in current filing · verify on EDGAR →
Mr. Rodgers will receive an annualized salary of $900,000, less applicable deductions and withholdings in accordance with the Company’s normal payroll practices.
The new COO will receive a base salary of $900,000 annually. Additionally, he will receive a $400,000 signing incentive subject to prorated reimbursement if he leaves voluntarily without Good Reason or is terminated for Cause within one year of his start date.
Added in current filing · verify on EDGAR →
Mr. Rodgers will be eligible to participate in the Company’s Annual Incentive Program, with a target award of 130% of his base salary and an annual cash incentive opportunity ranging from 0-200% of the target award.
Mr. Rodgers is eligible for an annual cash incentive with a target of 130% of base salary (approximately $1.17 million) and a maximum payout of 200% of target. His fiscal 2026 cash incentive will be prorated based on actual days of service during the year.
Added in current filing · verify on EDGAR →
Mr. Rodgers will be eligible to participate in the Company’s Long-Term Incentive Program, with an annual long-term incentive target of $2,500,000. For fiscal 2026, he is eligible to receive a prorated award valued at $1,875,000 on the grant date, consisting of 60% performance share units and 40% restricted stock units.
The new COO has an annual long-term incentive target of $2.5 million. For fiscal 2026, he will receive a prorated award of $1.875 million consisting of 60% performance share units and 40% restricted stock units. This represents a significant equity-based compensation package tied to company performance.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
In the event the Company withdraws or terminates Mr. Rodgers offer of employment before the effective date of his appointment, other than due to a breach of the offer letter by Mr. Rodgers that remains uncured for a period of ten or more days, Mr. Rodgers will be entitled to receive a pre-employment termination payment of $250,000.
The offer letter includes a $250,000 pre-employment termination payment if Kohl's withdraws the offer before the September 9, 2026 effective date, unless the withdrawal is due to Mr. Rodgers' uncured breach. This provision protects the executive during the transition period and represents a potential liability for the company.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 15, 2026 · How we verify