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UNITED STATES SECURITIES and EXCHANGE COMMISSION Washington, D.C

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UNITED STATES SECURITIES and EXCHANGE COMMISSION Washington, D.C UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of Earliest Event Reported): June 9, 2020 Hanesbrands Inc. (Exact name of registrant as specified in its charter) Maryland 001-32891 20-3552316 (State or Other Jurisdiction (Commission (I.R.S. Employer of Incorporation) File Number) Identification No.) 1000 East Hanes Mill Road Winston-Salem, North Carolina 27105 (Address of principal executive offices) (Zip Code) (336) 519-8080 (Registrant’s telephone number, including area code) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 204.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Trading Name of each exchange Title of each class Symbol(s) on which registered Common stock, Par Value $0.01 HBI New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On June 9, 2020, Hanesbrands Inc. (the “Company” or “Hanesbrands”) announced that its Board of Directors (the “Board”) approved the appointment of Stephen B. Bratspies as Chief Executive Officer of Hanesbrands, effective August 3, 2020 (the “effective date”). Mr. Bratspies succeeds Gerald W. Evans, Jr., who, as previously disclosed, will retire from his position as Chief Executive Officer of Hanesbrands on the effective date. As previously disclosed, Mr. Evans will continue to provide services to Hanesbrands pursuant to a Transition and Retirement Agreement to provide for a smooth transition to Mr. Bratspies. Mr. Bratspies, 52, joins Hanesbrands from Walmart Inc. (“Walmart”), a publicly traded multinational retail company that operates a chain of supercenters, discount stores, grocery stores and warehouse clubs, where he served most recently as Chief Merchandising Officer starting in 2015. Mr. Bratspies has served in various capacities at Walmart since 2005, including as Executive Vice President, Food from 2014 to 2015 and as Executive Vice President, General Merchandise from 2013 to 2014. Mr. Bratspies earned an M.B.A. from The Wharton School at the University of Pennsylvania, and a B.A. in Economics from Franklin and Marshall College. In connection with Mr. Bratspies’ appointment as CEO, the Board expects to elect Mr. Bratspies to the Board of Directors as of the effective date. There is no arrangement or understanding between Mr. Bratspies and any other person pursuant to which he was selected for his position. There are no family relationships between Mr. Bratspies and any director or executive officer of the Company. Mr. Bratspies has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. Mr. Bratspies will receive an annual base salary of $1,100,000, a target Annual Incentive Plan opportunity of 150% of his annual base salary, and a target Long-Term Incentive Program opportunity of $6,750,000, delivered as 50% time-based and 50% performance-based awards. Mr. Bratspies’ compensation for 2020 will be prorated from the effective date. In addition, Mr. Bratspies is expected to receive a transition equity award of stock options in three tranches: (1) options to purchase 83,333 shares with a per share exercise price equal to 100% of the closing price of Hanesbrands’ common stock on the effective date that will cliff vest after 1 year, (2) options to purchase 83,333 shares with a per share exercise price equal to 120% of the closing price of Hanesbrands’ common stock on the effective date that will cliff vest after 2 years, and (3) options to purchase 83,334 shares with a per share exercise price equal to 140% of the closing price of Hanesbrands’ common stock on the effective date that will cliff vest after 3 years. He will be eligible to participate in Hanesbrands’ other employee benefits plans and arrangements on the same terms as the Company’s other executive officers. Hanesbrands expects to enter into a Severance/Change in Control Agreement with Mr. Bratspies on substantially the same terms and conditions as those described in the Company’s Proxy Statement for the 2020 Annual Meeting of Stockholders (the “Proxy Statement”), filed with the Securities and Exchange Commission March 16, 2020, under “Compensation Discussion and Analysis—Severance Arrangements.” The description of the material terms of the Severance/Change in Control Agreement is qualified in its entirety by reference to the full text of the form of Severance/Change in Control Agreement that the Company expects to enter into with Mr. Bratspies, which is filed as Exhibit 10.1 to this Current Report on Form 8-K. Additional information about the Company’s annual incentive and long-term compensation plans can be found in the Company’s Proxy Statement. A copy of the Company’s press release announcing the executive leadership succession plan is attached as Exhibit 99.1 hereto and incorporated herein by reference Item 9.01. Financial Statements and Exhibits (d) Exhibits Exhibit 10.1 Form of Severance/Change in Control Agreement.* Exhibit 99.1 Press Release dated June 9, 2020. Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). * Management contract or compensatory plans or arrangements. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ANESBRANDS NC H I . Date: June 9, 2020 By: /s/ Joia M. Johnson Name: Joia M. Johnson Title: Chief Administrative Officer, Chief Legal Officer, General Counsel and Corporate Secretary Exhibit 10.1 SEVERANCE/CHANGE IN CONTROL AGREEMENT THIS SEVERANCE/CHANGE IN CONTROL AGREEMENT (the “Agreement”), is made and entered into this th day of , 2020, by and between Hanesbrands Inc., a Maryland corporation (the “Company”), and (“Executive”). WHEREAS, Executive is an employee of Company, Company desires to foster the continuous employment of Executive and has determined that appropriate steps should be taken to reinforce and encourage the continued attention and dedication of Executive to his duties free from distractions which could arise in anticipation of an involuntary termination of employment or a Change in Control of Company; NOW, THEREFORE, in consideration of the mutual agreements herein set forth, Company and Executive agree as follows: 1. Term and Nature of Agreement. This Agreement shall commence on the date it is fully executed (“Execution Date”) by all parties and shall continue in effect unless the Company gives at least eighteen (18) months prior written notice that this Agreement will not be renewed. In the event of such notice, this Agreement will expire on the next anniversary of the Execution Date that is at least eighteen (18) months after the date of such notice. Notwithstanding the foregoing, if a Change in Control occurs during any term of this Agreement, the term of this Agreement shall be extended automatically for a period of twenty-four (24) months after the end of the month in which the Change in Control occurs. Except to the extent otherwise provided, the parties intend for this Agreement to be construed and enforced as an unfunded welfare benefit plan under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), including without limitation the jurisdictional provisions of ERISA. 2. Involuntary Termination Benefits. Executive shall be eligible for severance benefits upon an involuntary termination of employment under the terms and conditions specified in this section 2. (a) Eligibility for Severance. (i) Eligible Terminations. Subject to subparagraph (a)(ii) below, Executive shall be eligible for severance payments and benefits under this section 2 if his employment terminates under one of the following circumstances: (A) Executive’s employment is terminated involuntarily without Cause (defined in subparagraph 2(a)(ii)(A)); or (B) Executive terminates his or her employment at the request of Company. (ii) Ineligible Terminations. Notwithstanding subparagraph (a)(i) next above, Executive shall not be eligible for any severance payments or benefits under this section 2 if his employment terminates under any of the following circumstances: (A) A termination for Cause. For purposes of this Agreement, “Cause” means Executive has been convicted of (or pled guilty or no contest to) a felony or any crime involving fraud, embezzlement, theft, misrepresentation of financial impropriety; has willfully engaged in misconduct resulting in material harm to Company; has willfully failed to substantially perform duties after written notice; or is in willful violation of Company policies resulting in material harm to Company; (B) A termination as the result of Disability. For purposes of this Agreement “Disability” shall mean a determination under Company’s disability plan covering Executive that Executive is disabled; (C) A termination due to death; (D) A termination due to Voluntary Retirement.
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