01:33 PM EDT, 10/07/2024 (MT Newswires) -- Torrid Holdings ( CURV ) shares were down nearly 17% in recent Monday trading after the company said it terminated employment of Chief Creative Officer Elizabeth Munoz-Guzman on Oct. 4.

Munoz-Guzman entered a separation agreement that releases the company from certain claims. The company did not disclose the details of the claims or "other customary restrictive covenants," but said a copy of the agreement will be disclosed in its Form 10-Q for the quarter ending Nov. 2.

The agreement also includes certain benefits provided she does not revoke the agreement within a seven-day period. The benefits include a lump sum cash payment of $3.6 million to be paid on Oct. 25 and $1.4 million in cash payable in equal installments over a 12-month period.

Price: 2.95, Change: -0.60, Percent Change: -16.90