Big Lots Announces Settlement Agreement With Investor Group - Quick Facts

Big Lots, Inc. (BIG) announced that pursuant to an agreement with Macellum Advisors GP, LLC and Ancora Advisors, LLC and certain of their affiliates, who beneficially own in the aggregate approximately 9.8% of the company's outstanding common shares, Andrew Clarke and Aaron Goldstein have been appointed to the company's Board. The Investor Group has agreed to customary standstill, voting and other provisions.

The Board will also nominate Thomas Kingsbury to stand for election as an independent director at the Annual Meeting, and one incumbent director will not stand for reelection.

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