ࡱ> OPQR l \pThe Free Software Foundation B=PF0*8X@"1 Helvetica1Courier1 Courier New1 Courier New1 Helvetica$#,##0_);($#,##0)$#,##0_);[Red]($#,##0)$#,##0.00_);($#,##0.00)$#,##0.00_);[Red]($#,##0.00)-**_($* #,##0_);_($* (#,##0);_($* "-"_);_(@_)*)'_(* #,##0_);_(* (#,##0);_(* "-"_);_(@_)5,2_($* #,##0.00_);_($* (#,##0.00);_($* "-"??_);_(@_)2+/_(* #,##0.00_);_(* (#,##0.00);_(* "-"??_);_(@_)2$#,##0.00;[Red]$#,##0.003$#,##0.00;[Red]($#,##0.00)4$#,##0;[Red]($#,##00)50.00%;[Red](0.00%)6 0%;[Red](0%)7#,##0.00;[Red](#,##0.00)8#,##0;[Red](#,##0)                + ) , *   Ј ~~ ؈ ~~#؈ ~~"؈ ~~ ؈ ~~8#܈ ~~<#܈ ~~8"܈ ~~4"܈ ~~4#܈ ~~7#܈ ~~<"܈ ~~83ffff̙̙3f3fff3f3f33333f33&7 Securities Exchange Act of 1934Five Below Inc&0Your vote is important Whether &.8This Notice is only an overviewg@TABLE OF CONTENTS%WANNUAL MEETING OF SHAREHOLDERSaSUMMARY VOTING MATTERSomBOARD NOMINEES&What vote is required to approvDirector Compensation IntroductionKey Governance Practices&*Elements of Our Executive CompeT Peer GroupJ Base SalaryAnnual Incentive Bonus{Annual Incentive (1)&Performancebased Restricted StozPerformancebased (1)b- Stock Options&7PRSUs awarded to Mr Vellios in !BSummary Compensation Table hSummary Compensation (1)!Grants of PlanBased Awards&9Outstanding Equity Awards at Ye&Option Exercises and Stock Vestr#Potential Payments&jbSECURITY OWNERSHIP OF CERTAIN B&yEquity Compensation Plan Inform9Fee Information l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Five Below Inc!Your vote is important Whether !This Notice is only an overviewTABLE OF CONTENTS ANNUAL MEETING OF SHAREHOLDERSSUMMARY VOTING MATTERSBOARD NOMINEES!What vote is required to approvDirector Compensation IntroductionKey Governance Practices!Elements of Our Executive Compe Peer Group Base SalaryAnnual Incentive BonusAnnual Incentive (1)!Performancebased Restricted StoPerformancebased (1) Stock Options!PRSUs awarded to Mr Vellios in Summary Compensation TableSummary Compensation (1)Grants of PlanBased Awards!Outstanding Equity Awards at Ye!Option Exercises and Stock VestPotential Payments!SECURITY OWNERSHIP OF CERTAIN B!Equity Compensation Plan InformFee InformationU } $} $ } $4      FIVE BELOW, INCDEF 14A 05/12/2016'Securities Exchange Act of 1934 ? # Preliminary Proxy Statement   ? / 'Confidential, for Use of the Commission  / 'Only (as permitted by Rule 14a-6(e)(2))   ?"Definitive Proxy Statement ?'Definitive Additional Materials ?3+Soliciting Material Pursuant to Rule 14a-12$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4Vyma=N63'=PF0*8X> @ l  AV$.I/  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934!Your vote is important Whether !This Notice is only an overviewTABLE OF CONTENTS ANNUAL MEETING OF SHAREHOLDERSSUMMARY VOTING MATTERSBOARD NOMINEES!What vote is required to approvDirector Compensation IntroductionKey Governance Practices!Elements of Our Executive Compe Peer Group Base SalaryAnnual Incentive BonusAnnual Incentive (1)!Performancebased Restricted StoPerformancebased (1) Stock Options!PRSUs awarded to Mr Vellios in Summary Compensation TableSummary Compensation (1)Grants of PlanBased Awards!Outstanding Equity Awards at Ye!Option Exercises and Stock VestPotential Payments!SECURITY OWNERSHIP OF CERTAIN B!Equity Compensation Plan InformFee InformationU } $} $ } $} $ } : A     FIVE BELOW, INCDEF 14A 05/12/2016Five Below, Inc. ?  No fee required.   ? 0 (Fee computed on table below per Exchange  ' Act Rules 14a-6(i)(1) and 0-11.   ~ 2*Title of each class of securities to whichtransaction applies:~  /'Aggregate number of securities to whichtransaction applies:~ 0(Per unit price or other underlying value4,of transaction computed pursuant to Exchange4,Act Rule 0-11 (Set forth the amount on which2*the filing fee is calculated and state howit was determined):~ 80Proposed maximum aggregate value of transaction:D l|p4W3{?Np:s !"#$%&'()*+,-./0123456789:;<=>?     !!~ !!!Total fee paid:"""""#####$$ %?%7%/Fee paid previously with preliminary materials.&& '?'2'*Check box if any part of the fee is offset((7(/as provided by the Exchange Act Rule 0-11(a)(2)))8)0and identify the filing for which the offsetting**6*.fee was paid previously. Identify the previous++0+(filing by registration statement number,,,3,+or the Form or Schedule and the date of its---filing....//~ ///Amount Previously Paid:000001111122~ 2 202(Form, Schedule or Registration Statement3333 3No.:444445555566~ 666 Filing Party:777778888899~ 999 Date Filed::::::;;;;;<=$>____________________________1?)Created by Morningstar Document Research.D lw;{,3mI|^R@0@(http://documentresearch.morningstar.com/H=PF0*8X> @r@@??>>--,,++**))((''%%    l  7  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934Five Below Inc!This Notice is only an overviewTABLE OF CONTENTS ANNUAL MEETING OF SHAREHOLDERSSUMMARY VOTING MATTERSBOARD NOMINEES!What vote is required to approvDirector Compensation IntroductionKey Governance Practices!Elements of Our Executive Compe Peer Group Base SalaryAnnual Incentive BonusAnnual Incentive (1)!Performancebased Restricted StoPerformancebased (1) Stock Options!PRSUs awarded to Mr Vellios in Summary Compensation TableSummary Compensation (1)Grants of PlanBased Awards!Outstanding Equity Awards at Ye!Option Exercises and Stock VestPotential Payments!SECURITY OWNERSHIP OF CERTAIN B!Equity Compensation Plan InformFee InformationU } 1      FIVE BELOW, INCDEF 14A 05/12/2016kcYour vote is important. Whether you plan to attend the Annual Meeting in person or not, we hope you  Sincerely,  Thomas G. Vellios Executive Chairman $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(]TA5)t=PF0*8X> @ l  @  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934Five Below Inc!Your vote is important Whether TABLE OF CONTENTS ANNUAL MEETING OF SHAREHOLDERSSUMMARY VOTING MATTERSBOARD NOMINEES!What vote is required to approvDirector Compensation IntroductionKey Governance Practices!Elements of Our Executive Compe Peer Group Base SalaryAnnual Incentive BonusAnnual Incentive (1)!Performancebased Restricted StoPerformancebased (1) Stock Options!PRSUs awarded to Mr Vellios in Summary Compensation TableSummary Compensation (1)Grants of PlanBased Awards!Outstanding Equity Awards at Ye!Option Exercises and Stock VestPotential Payments!SECURITY OWNERSHIP OF CERTAIN B!Equity Compensation Plan InformFee InformationU } 1      FIVE BELOW, INCDEF 14A 05/12/2016kcThis Notice is only an overview of the Proxy Statement and proxy card or voting information form in+ #By order of the board of directors,  Karen W. Procell  Secretary $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(lTA5)e=PF0*8X> @ l  A^MV.W  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934Five Below Inc!Your vote is important Whether !This Notice is only an overview ANNUAL MEETING OF SHAREHOLDERSSUMMARY VOTING MATTERSBOARD NOMINEES!What vote is required to approvDirector Compensation IntroductionKey Governance Practices!Elements of Our Executive Compe Peer Group Base SalaryAnnual Incentive BonusAnnual Incentive (1)!Performancebased Restricted StoPerformancebased (1) Stock Options!PRSUs awarded to Mr Vellios in Summary Compensation TableSummary Compensation (1)Grants of PlanBased Awards!Outstanding Equity Awards at Ye!Option Exercises and Stock VestPotential Payments!SECURITY OWNERSHIP OF CERTAIN B!Equity Compensation Plan InformFee InformationU } 7} $ } } $ A     FIVE BELOW, INCDEF 14A 05/12/2016TABLE OF CONTENTS  PROXY SUMMARY  ~    " FREQUENTLY ASKED QUESTIONS  ~     BOARD OF DIRECTORS  ~ & AUDIT COMMITTEE REPORT~ R%COMPENSATION COMMITTEE REPORT~ REXECUTIVE OFFICERS~ V,$COMPENSATION DISCUSSION AND ANALYSIS~ ZEXECUTIVE COMPENSATION~ /'CERTAIN RELATIONSHIPS AND RELATED PARTY~  TRANSACTIONS0(SECURITY OWNERSHIP OF CERTAIN BENEFICIAL~ OWNERS AND MANAGEMENT,$EQUITY COMPENSATION PLAN INFORMATION~ DKl{o3x`1O7fN6 !"#$%&'()*+,-./0123456789:;<=>?  4!,SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING!!~ !!" COMPLIANCE##($ PROPOSAL 1 ELECTION OF DIRECTORS$$~ $$%%.&&PROPOSAL 2 RATIFICATION OF INDEPENDENT&&~ &&)'!REGISTERED PUBLIC ACCOUNTING FIRM((/)'PROPOSAL 3 APPROVAL OF FIVE BELOW, INC.))~ ))-*%AMENDED AND RESTATED EQUITY INCENTIVE +PLAN,,/-'PROPOSAL 4 APPROVAL OF FIVE BELOW, INC.--~ --#.2016 PERFORMANCE BONUS PLAN//.0&PROPOSAL 5 ADVISORY (NON-BINDING) VOTE00~ 0001(TO APPROVE THE COMPANY?S NAMED EXECUTIVE2OFFICER COMPENSATION334 OTHER MATTERS44~ 445566.SHAREHOLDER PROPOSALS AND DIRECTOR NOMINATIONS66~ 66/7'FOR 2016 ANNUAL MEETING OF SHAREHOLDERS88%9ANNUAL REPORT TO SHAREHOLDERS99~ 99::-;%DELIVERY OF DOCUMENTS TO SHAREHOLDERS;;~ ;;<SHARING AN ADDRESS=$>____________________________1?)Created by Morningstar Document Research.Dl~hPvI1sk70r@0@(http://documentresearch.morningstar.com/H=PF0*8X> @@@??>> l  `  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934Five Below Inc!Your vote is important Whether !This Notice is only an overviewTABLE OF CONTENTSSUMMARY VOTING MATTERSBOARD NOMINEES!What vote is required to approvDirector Compensation IntroductionKey Governance Practices!Elements of Our Executive Compe Peer Group Base SalaryAnnual Incentive BonusAnnual Incentive (1)!Performancebased Restricted StoPerformancebased (1) Stock Options!PRSUs awarded to Mr Vellios in Summary Compensation TableSummary Compensation (1)Grants of PlanBased Awards!Outstanding Equity Awards at Ye!Option Exercises and Stock VestPotential Payments!SECURITY OWNERSHIP OF CERTAIN B!Equity Compensation Plan InformFee InformationU } 0} $ } 0      FIVE BELOW, INCDEF 14A 05/12/2016&ANNUAL MEETING OF SHAREHOLDERS  Time and Date   Record Date0 (9:00 a.m. Eastern Daylight Time June 21,  April 26, 2016~    Place 0 (Number of Common Shares Eligible to Vote,$at the Meeting as of the Record DatePepper Hamilton LLP~ ‚ 3000 Two Logan Square18th and Arch Streets?7Philadelphia, PA 19103 ____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.znb>1n+=PF0*8X> @ l  l  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934Five Below Inc!Your vote is important Whether !This Notice is only an overviewTABLE OF CONTENTS ANNUAL MEETING OF SHAREHOLDERSBOARD NOMINEES!What vote is required to approvDirector Compensation IntroductionKey Governance Practices!Elements of Our Executive Compe Peer Group Base SalaryAnnual Incentive BonusAnnual Incentive (1)!Performancebased Restricted StoPerformancebased (1) Stock Options!PRSUs awarded to Mr Vellios in Summary Compensation TableSummary Compensation (1)Grants of PlanBased Awards!Outstanding Equity Awards at Ye!Option Exercises and Stock VestPotential Payments!SECURITY OWNERSHIP OF CERTAIN B!Equity Compensation Plan InformFee InformationU } 7} $ } } $ } 0      FIVE BELOW, INCDEF 14A 05/12/2016SUMMARY VOTING MATTERS Matter  Board Recommendation  Page Reference     (for more detail) Election of Directors ! FOR each director nominee ~ . &Ratification of Independent Registered  FOR ~  Public Accounting Firm6.Approval of the Company?s Amended and Restated FOR~ Equity Incentive Plan2*Approval of the Company?s 2016 Performance FOR~  Bonus Plan.&Advisory (non-binding) vote to approve FOR~ -%the Company?s Named Executive Officer compensation$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4vj.}w=PF0*8X> @ l  Q  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934Five Below Inc!Your vote is important Whether !This Notice is only an overviewTABLE OF CONTENTS ANNUAL MEETING OF SHAREHOLDERSSUMMARY VOTING MATTERS!What vote is required to approvDirector Compensation IntroductionKey Governance Practices!Elements of Our Executive Compe Peer Group Base SalaryAnnual Incentive BonusAnnual Incentive (1)!Performancebased Restricted StoPerformancebased (1) Stock Options!PRSUs awarded to Mr Vellios in Summary Compensation TableSummary Compensation (1)Grants of PlanBased Awards!Outstanding Equity Awards at Ye!Option Exercises and Stock VestPotential Payments!SECURITY OWNERSHIP OF CERTAIN B!Equity Compensation Plan InformFee InformationU } } $ }  } $ } }  $ } U5} $ } U} $ } U} $ }       FIVE BELOW, INCDEF 14A 05/12/2016BOARD NOMINEES       Name, Age  Director   Class      Committee   Since          Membership*           Principal Occupation  AC  CC  NCGC                  Catherine E. Buggeln, 55  ~ ~    I  # Retail and Brand Consultant         "Michael F. Devine, III, 57~ v I 4 ,Former Chief Financial Officer and Executive    & Vice President of Coach, Inc.,   Ronald L. Sargent, 60~ R I / 'Chairman and Chief Executive Officer of      Staples, Inc.   Daniel J. Kaufman, 56~ ~ III 3 +Chief Legal Officer and Corporate Secretary     of GameStop Corp.   Richard L. Markee, 62~  III 0 (Non-Executive Chairman of Vitamin Shoppe   $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/@D~rc{YDNC^MdVJ>=PF0*8X> @B      l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934Five Below Inc!Your vote is important Whether !This Notice is only an overviewTABLE OF CONTENTS ANNUAL MEETING OF SHAREHOLDERSSUMMARY VOTING MATTERSBOARD NOMINEESDirector Compensation IntroductionKey Governance Practices!Elements of Our Executive Compe Peer Group Base SalaryAnnual Incentive BonusAnnual Incentive (1)!Performancebased Restricted StoPerformancebased (1) Stock Options!PRSUs awarded to Mr Vellios in Summary Compensation TableSummary Compensation (1)Grants of PlanBased Awards!Outstanding Equity Awards at Ye!Option Exercises and Stock VestPotential Payments!SECURITY OWNERSHIP OF CERTAIN B!Equity Compensation Plan InformFee InformationU } } $ } U5} $ } } $ }       FIVE BELOW, INCDEF 14A 05/12/2016MEWhat vote is required to approve each proposal at the Annual Meeting? Proposal   Vote Required  Broker        Discretionary       Voting Allowed Proposal No. 1?  Election of Directors  Majority of Votes Cast  No    ! for each Director NomineeProposal No. 2?2*Ratification of Appointment of IndependentMajority of Votes Cast Yes)!Registered Public Accounting FirmProposal No. 3?2*Approval of the Company?s Equity IncentiveMajority of Votes Cast No PlanProposal No. 4?-%Approval of the Company?s PerformanceMajority of Votes Cast No Bonus PlanProposal No. 5?4,Approval, on an advisory basis, of our NamedMajority of Votes Cast No&Executive Officer compensation$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/@< D_SG;/==PF0*8X> @"  l  )  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934Five Below Inc!Your vote is important Whether !This Notice is only an overviewTABLE OF CONTENTS ANNUAL MEETING OF SHAREHOLDERSSUMMARY VOTING MATTERSBOARD NOMINEES!What vote is required to approv IntroductionKey Governance Practices!Elements of Our Executive Compe Peer Group Base SalaryAnnual Incentive BonusAnnual Incentive (1)!Performancebased Restricted StoPerformancebased (1) Stock Options!PRSUs awarded to Mr Vellios in Summary Compensation TableSummary Compensation (1)Grants of PlanBased Awards!Outstanding Equity Awards at Ye!Option Exercises and Stock VestPotential Payments!SECURITY OWNERSHIP OF CERTAIN B!Equity Compensation Plan InformFee InformationU } } $ } $} $ }  }  $ } } U} $ }  } $      FIVE BELOW, INCDEF 14A 05/12/2016Director Compensation      Name   Fees Earned   Restricted Stock    All Other   Total    or   Unit Awards(2)    Compensation  ~    Paid in Cash(1)  ~   ~   ~  Kathleen S. Barclay  ~    ~ B~   ~ ~   ~ '  Catherine E. Buggeln~ ~ B~  ~  ~   ~ ' Steven J. Collins(4) ? ?    ?   ?Michael F. Devine III~ "0~ B~    ?  ~ b Daniel Kaufman~  ?    ?  ~ David M. Mussafer(5)~ 6J~ B~    ?  ~ vThomas M. Ryan~ ~ B~  ~   /~   ~ b Ronald L. Sargent~ ~ B~  ~  b~   ~ " David Schlessinger(6) ? ?  ~  R#~   ~ R#$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:\wk(9Ri]Q)=PF0*8X> @z          l  v  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934Five Below Inc!Your vote is important Whether !This Notice is only an overviewTABLE OF CONTENTS ANNUAL MEETING OF SHAREHOLDERSSUMMARY VOTING MATTERSBOARD NOMINEES!What vote is required to approvDirector CompensationKey Governance Practices!Elements of Our Executive Compe Peer Group Base SalaryAnnual Incentive BonusAnnual Incentive (1)!Performancebased Restricted StoPerformancebased (1) Stock Options!PRSUs awarded to Mr Vellios in Summary Compensation TableSummary Compensation (1)Grants of PlanBased Awards!Outstanding Equity Awards at Ye!Option Exercises and Stock VestPotential Payments!SECURITY OWNERSHIP OF CERTAIN B!Equity Compensation Plan InformFee InformationU } a} $ } a/      FIVE BELOW, INCDEF 14A 05/12/2016 Introduction Name  Position Thomas G. Vellios  Executive Chairman Joel D. Anderson - %President and Chief Executive Officer Kenneth R. Bull - %Chief Financial Officer and Treasurer Eric M. Specter $ Chief Administrative OfficerMichael F. Romanko/'Executive Vice President, Merchandising$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|tP (|pd<=PF0*8X> @ l  1  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934Five Below Inc!Your vote is important Whether !This Notice is only an overviewTABLE OF CONTENTS ANNUAL MEETING OF SHAREHOLDERSSUMMARY VOTING MATTERSBOARD NOMINEES!What vote is required to approvDirector Compensation Introduction!Elements of Our Executive Compe Peer Group Base SalaryAnnual Incentive BonusAnnual Incentive (1)!Performancebased Restricted StoPerformancebased (1) Stock Options!PRSUs awarded to Mr Vellios in Summary Compensation TableSummary Compensation (1)Grants of PlanBased Awards!Outstanding Equity Awards at Ye!Option Exercises and Stock VestPotential Payments!SECURITY OWNERSHIP OF CERTAIN B!Equity Compensation Plan InformFee InformationU } 7} $ } 7 1     FIVE BELOW, INCDEF 14A 05/12/2016 Key Governance Practices  What we do  What we don?t do1 )? We provide a significant portion of pay 1 )? No compensation is guaranteed under our. &opportunities in variable or ?at-risk?  incentive programs5 -compensation linked to drivers of shareholder  2 *value creation, including long-term equity 1 )? We do not grant time-vesting restricted0(incentive compensation provided to Named6.stock or restricted stock units as a component3+Executive Officers 50% in the form of PRSUs/'of our Named Executive Officers? annual and 50% in stock optionscompensation packages0(? The compensation committee reviews our1)? We do not provide tax gross-ups related1)executive compensation program, including1)to the impact of excise tax under Section/'compensation philosophy and objectives,)!280G of the Internal Revenue Codeon an ongoing basis3+? We will not reprice stock options without-%? The compensation committee annuallyshareholder approval6.reviews and approves targets for our incentivecompensation plans5-? We do not provide a defined benefit pensionplan for our employees6.? Incentive plan payouts are capped at maximum5-levels to mitigate the potential for windfall&gains or excessive risk-taking2*? Our Named Executive Officers? employmentD lthD4l|+y*{kA !"#$%&'()*+,-./00 (agreements include reasonable provisions.!&for specific termination and Change of"Control events#1$)? The compensation committee has retained/%'an independent advisor for support with+&#executive and director compensation'''.(&? The compensation committee regularly.)&reviews risks related to our executive.*&compensation programs and arrangements+++2,*? We have clawback provisions in place for.-&certain of our equity incentive grants$.____________________________1/)Created by Morningstar Document Research.00(http://documentresearch.morningstar.com/&N@t? U#o=PF0*8X> @00//.. l  :i  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934Five Below Inc!Your vote is important Whether !This Notice is only an overviewTABLE OF CONTENTS ANNUAL MEETING OF SHAREHOLDERSSUMMARY VOTING MATTERSBOARD NOMINEES!What vote is required to approvDirector Compensation IntroductionKey Governance Practices Peer Group Base SalaryAnnual Incentive BonusAnnual Incentive (1)!Performancebased Restricted StoPerformancebased (1) Stock Options!PRSUs awarded to Mr Vellios in Summary Compensation TableSummary Compensation (1)Grants of PlanBased Awards!Outstanding Equity Awards at Ye!Option Exercises and Stock VestPotential Payments!SECURITY OWNERSHIP OF CERTAIN B!Equity Compensation Plan InformFee InformationU } $4} $ } 6} $ } = :     FIVE BELOW, INCDEF 14A 05/12/2016D<Elements of Our Executive Compensation and Benefits Programs Element of Pay  Purpose . &Alignment with Principles & Objectives  Base Salary 5 -Recognize and reward for the scope of a Named 1 )? Provides a minimum, fixed level of cash  5 -Executive Officer?s role and their individual ; 3compensation to reflect the level of accountability    performance / 'of talented executives who can continue    4 ,to improve the Company?s overall performance4,? Value provided is aligned with executives?.&experience, industry knowledge, duties2*and scope of responsibility as well as the%competitive market for talentAnnual Incentive Bonus.&Reward for success in achieving annual1)? Value paid out is variable dependent on objectives-%the Company?s performance through the fiscal year2*? Motivates executives to achieve specific/'annual performance goals and objectives0(Performance-based Restricted Stock Units/'Reward for the achievement of long-term7/? Value realized is variable based on operating (?PRSUs?)4,operating income performance and shareholder#income over a 3-year periodvalue creation2*? Motivates executives to achieve specificD lh\PDXF @]Q h' !"#$%&'()*+,-./0123456789    , $long-term objectives driving success!!!!)!!in ongoing growth and development"""""####/#'? Aligns the executives? interests with$$$$1$)long-term shareholder interests to ensure%%%%.%&a strong continued focus on increasing&&&&!&overall shareholder value'''( Stock Options(3(+Reward for long-term growth in stock price,(3(+? Value realized is variable based on stock)).)&increasing the alignment of executives)1))performance over a long-term period, with***with shareholders*1*)options vesting over 4 years and expiring+++++after a 10-year term,,,,,----/-'? Aligns the executives? interests with....1.)long-term shareholder interests to ensure////./&a strong continued focus on increasing0000!0overall shareholder value11102(Retirement (401(k) Plan), Employee Stock2.2&Enhances total compensation to provide242,? Provides competitive benefits that support33+Purchase Plan, health and welfare benefits,313)a package that is competitive with market343,the health, wellness and long-term financial4and limited perquisites44 practices4,4$security of our full-time employees.56$7____________________________18)Created by Morningstar Document Research.09(http://documentresearch.morningstar.com/8 C?d:t8p#c=PF0*8X> @998877 l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934Five Below Inc!Your vote is important Whether !This Notice is only an overviewTABLE OF CONTENTS ANNUAL MEETING OF SHAREHOLDERSSUMMARY VOTING MATTERSBOARD NOMINEES!What vote is required to approvDirector Compensation IntroductionKey Governance Practices!Elements of Our Executive Compe Base SalaryAnnual Incentive BonusAnnual Incentive (1)!Performancebased Restricted StoPerformancebased (1) Stock Options!PRSUs awarded to Mr Vellios in Summary Compensation TableSummary Compensation (1)Grants of PlanBased Awards!Outstanding Equity Awards at Ye!Option Exercises and Stock VestPotential Payments!SECURITY OWNERSHIP OF CERTAIN B!Equity Compensation Plan InformFee InformationU } U} $ }       FIVE BELOW, INCDEF 14A 05/12/2016 Peer Group  ? Bebe Stores  ? Gordmans Stores ? Buckle  ? Hibbett Sports ? Build-A-Bear Workshop  ? lululemon athletica  ? Citi Trends   ? Tilly?s ? Destination XL Group  ? Tumi Holdings? Francesca?s Holdings? Vitamin Shoppe? Fresh Market? Zumiez$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.vRJ}qe==PF0*8X> @ l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934Five Below Inc!Your vote is important Whether !This Notice is only an overviewTABLE OF CONTENTS ANNUAL MEETING OF SHAREHOLDERSSUMMARY VOTING MATTERSBOARD NOMINEES!What vote is required to approvDirector Compensation IntroductionKey Governance Practices!Elements of Our Executive Compe Peer GroupAnnual Incentive BonusAnnual Incentive (1)!Performancebased Restricted StoPerformancebased (1) Stock Options!PRSUs awarded to Mr Vellios in Summary Compensation TableSummary Compensation (1)Grants of PlanBased Awards!Outstanding Equity Awards at Ye!Option Exercises and Stock VestPotential Payments!SECURITY OWNERSHIP OF CERTAIN B!Equity Compensation Plan InformFee InformationU } U} $                      FIVE BELOW, INCDEF 14A 05/12/2016 Base Salary Named Executive Officer  2014 Base Salary   2015 Base Salary  Thomas G. Vellios(1) ~ *  ~ $  Joel D. Anderson ~ *  ~ *  Kenneth R. Bull ~ j  ~ j  Eric M. Specter(2) ~   ~  Michael F. Romanko~ Bw~ Bw$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|u ~CocW/=PF0*8X> @z           l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934Five Below Inc!Your vote is important Whether !This Notice is only an overviewTABLE OF CONTENTS ANNUAL MEETING OF SHAREHOLDERSSUMMARY VOTING MATTERSBOARD NOMINEES!What vote is required to approvDirector Compensation IntroductionKey Governance Practices!Elements of Our Executive Compe Peer Group Base SalaryAnnual Incentive (1)!Performancebased Restricted StoPerformancebased (1) Stock Options!PRSUs awarded to Mr Vellios in Summary Compensation TableSummary Compensation (1)Grants of PlanBased Awards!Outstanding Equity Awards at Ye!Option Exercises and Stock VestPotential Payments!SECURITY OWNERSHIP OF CERTAIN B!Equity Compensation Plan InformFee InformationU } } $ } $} $                     FIVE BELOW, INCDEF 14A 05/12/2016Annual Incentive Bonus Level & Pre-Incentive Operating Income  ' Bonus Payout (as a % of Target)   Threshold   $94.2 million   ~  % Actual   $97.8 million   ~ . % Target  $100.2 million   ~  %  Maximum(1)  $105.0 million   ~  %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*hvjhy{oG=PF0*8X> @J        l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934Five Below Inc!Your vote is important Whether !This Notice is only an overviewTABLE OF CONTENTS ANNUAL MEETING OF SHAREHOLDERSSUMMARY VOTING MATTERSBOARD NOMINEES!What vote is required to approvDirector Compensation IntroductionKey Governance Practices!Elements of Our Executive Compe Peer Group Base SalaryAnnual Incentive Bonus!Performancebased Restricted StoPerformancebased (1) Stock Options!PRSUs awarded to Mr Vellios in Summary Compensation TableSummary Compensation (1)Grants of PlanBased Awards!Outstanding Equity Awards at Ye!Option Exercises and Stock VestPotential Payments!SECURITY OWNERSHIP OF CERTAIN B!Equity Compensation Plan InformFee InformationU } U} $ } $} $} $ } $} $} $ } $} $} $ }  } $} $ } $} $      FIVE BELOW, INCDEF 14A 05/12/2016Annual Incentive Bonus      Named Executive Officer   Target Bonus  ) !2015 Incentive Bonus Plan Metrics  % Fiscal 2015 Bonus Achievement    (% of Base Salary)  ! & Weighting (% of target)   Factor (% of target)        Pre-Incentive   Net    Inventory          Operating   Sales   Turn       IncomeThomas G. Vellios~  %~ . %  ~  f  %  ?~ . %Joel D. Anderson~  %~ . %  ~  f  %  ?~ . %Kenneth R. Bull~  %~ . %  ~  f  %  ?~ . %Eric M. Specter~  %~ . %   )@  % )@ %ffffffP@ %Michael F. 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Vellios(1)   ?    ?    ?  Joel D. Anderson  ~    ~ H   ~   Kenneth R. Bull~ 6~ Vm  ~   Eric M. Specter~ 6~ Vm  ~   Michael F. Romanko(2) ? ?    ? $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0S|pdXY$s=PF0*8X> @B       l  47  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934Five Below Inc!Your vote is important Whether !This Notice is only an overviewTABLE OF CONTENTS ANNUAL MEETING OF SHAREHOLDERSSUMMARY VOTING MATTERSBOARD NOMINEES!What vote is required to approvDirector Compensation IntroductionKey Governance Practices!Elements of Our Executive Compe Peer Group Base SalaryAnnual Incentive BonusAnnual Incentive (1)!Performancebased Restricted StoPerformancebased (1)!PRSUs awarded to Mr Vellios in Summary Compensation TableSummary Compensation (1)Grants of PlanBased Awards!Outstanding Equity Awards at Ye!Option Exercises and Stock VestPotential Payments!SECURITY OWNERSHIP OF CERTAIN B!Equity Compensation Plan InformFee InformationU } U} $ }  } $      FIVE BELOW, INCDEF 14A 05/12/2016 Stock Options Named Executive Officer  Number of Stock    Options Granted Thomas G. Vellios(1)   ?  Joel D. Anderson  ~ n  Kenneth R. Bull  ~  Eric M. Specter~ Michael F. Romanko(2) ?$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.*s7]u# =PF0*8X> @*   l  9B  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934Five Below Inc!Your vote is important Whether !This Notice is only an overviewTABLE OF CONTENTS ANNUAL MEETING OF SHAREHOLDERSSUMMARY VOTING MATTERSBOARD NOMINEES!What vote is required to approvDirector Compensation IntroductionKey Governance Practices!Elements of Our Executive Compe Peer Group Base SalaryAnnual Incentive BonusAnnual Incentive (1)!Performancebased Restricted StoPerformancebased (1) Stock OptionsSummary Compensation TableSummary Compensation (1)Grants of PlanBased Awards!Outstanding Equity Awards at Ye!Option Exercises and Stock VestPotential Payments!SECURITY OWNERSHIP OF CERTAIN B!Equity Compensation Plan InformFee InformationU } } $ }  } $ }  } $                      FIVE BELOW, INCDEF 14A 05/12/20163+PRSUs awarded to Mr. Vellios in fiscal 2014  Opportunity  Number of PRSUs vesting   % if Performance Level achieved    Threshold   Target   2015 PRSUs  ~ [   ~ 2   2016 PRSUs  ~ $   ~ I  2017 PRSUs~ ~ $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|ymaUVyymE=PF0*8X> @:     l  ![gg  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934Five Below Inc!Your vote is important Whether !This Notice is only an overviewTABLE OF CONTENTS ANNUAL MEETING OF SHAREHOLDERSSUMMARY VOTING MATTERSBOARD NOMINEES!What vote is required to approvDirector Compensation IntroductionKey Governance Practices!Elements of Our Executive Compe Peer Group Base SalaryAnnual Incentive BonusAnnual Incentive (1)!Performancebased Restricted StoPerformancebased (1) Stock Options!PRSUs awarded to Mr Vellios in Summary Compensation (1)Grants of PlanBased Awards!Outstanding Equity Awards at Ye!Option Exercises and Stock VestPotential Payments!SECURITY OWNERSHIP OF CERTAIN B!Equity Compensation Plan InformFee InformationU } -} $ }  } U} $ }  }  $ }  } U} $ }  } $ } } $ }  } $ } U} $ }  } $ !!!!!!!!!!! ! ! ! ! !!!!!!!!!!!!!!!!!!!FIVE BELOW, INCDEF 14A 05/12/2016"Summary Compensation Table      ! Name & Principal Position  Year   Salary   Bonus    Non-Equity   Stock   Option    All Other    Total ($)       ~   ~    Incentive Plans   Awards   Awards    Compensation                Compensation  ~   ~   ~  Thomas G. Vellios  ~ ~   ~ $    ?   ~      ?    ?   ~ *    ~ c2 & Executive Chairman and Founder  ~ z   ~ *    ?   ~ i   ~ l    ?   ~ *    ~   ~ v~ *    ?   ? ? ?~ ~ R*   Joel D. Anderson~ ~~ *  ~  BB~   ~ " ~ $~ $~ Ɲ~  -%President and Chief Executive Officer~ z~ ~     ?  ~ B ~ +~ $~ ~ .s   Kenneth R. Bull~ ~~ j    ?  ~ ' ~ 5 ~ 5 ~ &~ !: -%Chief Financial Officer and Treasurer~ z~ j    ?  ~ R4~ b ~ b ~  8~ / ~ v~ J    ?   ? ?~ 2+~ z*~ &   Eric M. Specter~ ~~   ~  b~   ~ ~ ~ 5 ~ 5 ~ 6~ vF $Chief Administrative Officer~ z~ ~ n  ~  b~   ~ "~ ~ R ?~    Michael F. 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"Equity $    Securities    Securities    Incentive   Exercise    Expiration          Incentive  ! " Incentive    Underlying    Underlying   Plan   Price   Date   Number   Market   Plan  ! "Plan    Unexercised    Unexercised   Awards:  ~        of   Value   Awards:  ! "Awards: Options (#) Options (#)   Number of  Shares ofNumber !" Market or (Exercisable)(Unexercisable)   Securities  or UnitsShares of !"Payout   Underlying  of Stock orUnearned ! "Value   Unexercised   That UnitsShares, !"Unearned  Unearned   Have ofUnits or !" of Shares,   Options (#)   Not Stock Other !"Units or     Vested ThatRights ! "Other      (#) Have that !"Rights      Not Have ! "That     Vested Not !"Have Not     ~ Vested !"Vested     (#)(5) !~ "Thomas G. Vellios ? ?    ?   ? ?~  !"~ #R$Joel D. Anderson~ 6~      333333A@ 7/21/2024 !"#$~ n~      Gz<@ 3/10/2025 !"#$     ~ 6~ > !"#$     ~ 6 !"~ #>$     ~  !"~ #%$D6)lsg[O& a6 |H8Y %!%"%#%$%%%&%'%(%)%*%+%,%-%.%/%0%1%2%3%                               ~ H  ! 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Vellios     -%Voluntary termination for good reason~ $~ R~     ?  ~ ^~  ?~ ҁ0(or involuntary termination without cause4,No termination following a change in control ?~ R~     ?   ? ?~ R-%Voluntary termination for good reason~ >I~ R~     ?  ~ ^~  ?~  0(or involuntary termination without cause%following a change in control( Death of Named Executive Officer ? ?    ?   ?~ B~ ~ B/'Permanent Disability of Named Executive ? ?    ?   ? ? ?OfficerJoel D. Anderson     -%Voluntary termination for good reason~ sU~ >~     ?  ~ ^~  ?~ S0(or involuntary termination without cause4,No termination following a change in control ?~ ~   ~  F[~    ? ?~  -%Voluntary termination for good reason~ sU~ ~   ~  F[~   ~ ^~  ?~ ;0(or involuntary termination without cause%following a change in control( Death of Named Executive Officer ?~ 6Q~     ?   ?~ B~ ~ vTRDlznB11Yx$qj6o; !"#$%&'()*+,-./0123456789:;<=>?/ 'Permanent Disability of Named Executive   ?   ~ 6Q~    ?    ?    ?   ~ 6Q !Officer"Kenneth R. 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Romanko666666666 6 6 6 6 66666666666-7%Voluntary termination for good reason77 7?777 7?77 7  7 ?7 7 7 7?777 7?777 7?708(or involuntary termination without cause49,No termination following a change in control99 9?999~ 9O~ 99 9 ~ 9 ~~ 9 9 9 9?999 9?999~ 969-:%Voluntary termination for good reason:: :?:::~ :O~ :: : ~ : ~~ : : : :?::: :?:::~ :6:0;(or involuntary termination without cause%<following a change in control(= Death of Named Executive Officer== =?=== =?== =  = ?= = = =?=== =?=== =?=/>'Permanent Disability of Named Executive>> >?>>> >?>> >  > ?> > > >?>>> >?>>> >?>?OfficerDlU`HA F:'^g>@ABC@$A____________________________1B)Created by Morningstar Document Research.0C(http://documentresearch.morningstar.com/ <=PF0*8X> @CCBBAA                     l  (vFy  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934Five Below Inc!Your vote is important Whether !This Notice is only an overviewTABLE OF CONTENTS ANNUAL MEETING OF SHAREHOLDERSSUMMARY VOTING MATTERSBOARD NOMINEES!What vote is required to approvDirector Compensation IntroductionKey Governance Practices!Elements of Our Executive Compe Peer Group Base SalaryAnnual Incentive BonusAnnual Incentive (1)!Performancebased Restricted StoPerformancebased (1) Stock Options!PRSUs awarded to Mr Vellios in Summary Compensation TableSummary Compensation (1)Grants of PlanBased Awards!Outstanding Equity Awards at Ye!Option Exercises and Stock VestPotential Payments!Equity Compensation Plan InformFee InformationU } a/} $ } y} $ }  } $ (                                 FIVE BELOW, INCDEF 14A 05/12/2016F>SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT Name of Beneficial Owner  Shares    Percentage     Beneficially    of Shares   Owned    Beneficially       Owned) !5% Shareholders Not Listed Below:        BlackRock, Inc.(1)~ *QGz.$@ %!AllianceBernstein L.P.(2)~ Gz@ %The Vanguard Group(3)~ ~  % FMR LLC(4)~ BF@ %)!Goldman Sachs Asset Management(5)~ Q@ %'Wellington Management Group (6)~ (\@ %-%Named Executive Officers & Directors:Joel D. 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Vellios!!~ !*!!!!)\(? !%/"'All executive officers and directors as""~ "k""""(\ @ "%#a group (12 persons)$$%____________________________1&)Created by Morningstar Document Research.0'(http://documentresearch.morningstar.com/`@4 =PF0*8X> @R ''&&%%        l  !F֍  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934Five Below Inc!Your vote is important Whether !This Notice is only an overviewTABLE OF CONTENTS ANNUAL MEETING OF SHAREHOLDERSSUMMARY VOTING MATTERSBOARD NOMINEES!What vote is required to approvDirector Compensation IntroductionKey Governance Practices!Elements of Our Executive Compe Peer Group Base SalaryAnnual Incentive BonusAnnual Incentive (1)!Performancebased Restricted StoPerformancebased (1) Stock Options!PRSUs awarded to Mr Vellios in Summary Compensation TableSummary Compensation (1)Grants of PlanBased Awards!Outstanding Equity Awards at Ye!Option Exercises and Stock VestPotential Payments!SECURITY OWNERSHIP OF CERTAIN BFee InformationU } 0.} $ } y} $ }  }  $ } y} $ !                                 FIVE BELOW, INCDEF 14A 05/12/2016KCEquity Compensation Plan Information Table (as of January 30, 2016)        Number of    Weighted-    Number of     securities to   average    securities    be issued   exercise    remaining    upon exercise   price of    available for   of outstanding    outstanding   future issuanceoptions,options,   under equity warrants and warrants and   compensationrightsrights   plans(a)(1)(b)(2)   (excluding~    securities   reflected in   column (a))  (c)(3) Plan Category    -%Equity compensation plans approved by~ *so(\O:@  ~  2 securityholders(4).&Equity compensation plans not approved ? ?    ? by securityholders Total~ *so(\O:@  ~  2 $____________________________1)Created by Morningstar Document Research.D}laUI=pTGA"$A#xl` 0 (http://documentresearch.morningstar.com/H=PF0*8X> @#                     l  E  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934Five Below Inc!Your vote is important Whether !This Notice is only an overviewTABLE OF CONTENTS ANNUAL MEETING OF SHAREHOLDERSSUMMARY VOTING MATTERSBOARD NOMINEES!What vote is required to approvDirector Compensation IntroductionKey Governance Practices!Elements of Our Executive Compe Peer Group Base SalaryAnnual Incentive BonusAnnual Incentive (1)!Performancebased Restricted StoPerformancebased (1) Stock Options!PRSUs awarded to Mr Vellios in Summary Compensation TableSummary Compensation (1)Grants of PlanBased Awards!Outstanding Equity Awards at Ye!Option Exercises and Stock VestPotential Payments!SECURITY OWNERSHIP OF CERTAIN B!Equity Compensation Plan InformU } a} $ } $} U} $ } $} $                         FIVE BELOW, INCDEF 14A 05/12/2016Fee Information    Fiscal Year    Fiscal Year   ~  ~  ~  z  Audit Fees ~ A>~  ~ g5  Audit-Related Fees   ?    ?  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