The Board of Directors of Hibbett Sports, Inc. accepted a transition plan from Michael J. Newsome, Executive Chairman of the Board, to the position as non-executive Chairman of the Board as of February 2, 2014. Pursuant to the plan, Mr. Newsome will resign as an executive and employee on February 2, 2014. He will remain the Chairman of the Board.

In connection with his retirement, Mr. Newsome and the Company have executed an Executive Transition Agreement and General Release. The Agreement is effective as of February 1, 2014, subject to certain statutory revocation rights.