Form 4: Capri Holdings Chief People Officer Reports Routine Stock Transactions and New RSU Grant

Capri Holdings Ltd's Chief People Officer, Jenna Hendricks, reported the settlement of restricted share units, shares withheld for tax obligations, and the grant of new restricted share units.

Summary

• Jenna Hendricks, Chief People Officer of Capri Holdings Ltd (CPRI), reported multiple transactions involving the company's ordinary shares and restricted share units (RSUs).
• On June 16, 2025, 5,273 ordinary shares were acquired through the settlement of RSUs, increasing her direct beneficial ownership to 68,998 shares.
• Concurrently on June 16, 2025, 2,126 ordinary shares were disposed of at a price of $17.4 to cover tax withholding obligations, resulting in 66,872 shares beneficially owned.
• Also on June 16, 2025, an additional 5,941 ordinary shares were acquired from RSU settlement, bringing her direct beneficial ownership to 72,813 shares.
• Another 2,395 ordinary shares were disposed of on June 16, 2025, at $17.4 for tax purposes, leaving 70,418 shares beneficially owned.
• On June 17, 2025, 9,766 ordinary shares were acquired from RSU settlement, increasing her direct beneficial ownership to 80,184 shares.
• On the same day, June 17, 2025, 3,936 ordinary shares were disposed of at $16.83 to cover tax withholding obligations, resulting in 76,248 shares beneficially owned.
• A new grant of 75,431 restricted share units (RSUs) was made on June 16, 2025, under the Capri Holdings Limited Omnibus Incentive Plan, with a vesting schedule of 1/3 each year on June 16, 2026, 2027, and 2028.
• The RSUs do not expire and will settle into one ordinary share for each vested RSU.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. The transactions are routine executive compensation events (RSU vesting and new grants), which are generally expected and align executive interests with shareholders. The disposition of shares is for tax purposes, which is standard and not indicative of negative sentiment.

Positives

• The grant of 75,431 new restricted share units aligns the Chief People Officer's interests with long-term shareholder value.
• The settlement of RSUs indicates the vesting of previously granted equity compensation, representing a realization of value for the executive.

Negatives

• A portion of the vested shares were withheld by the company to cover tax withholding obligations, reducing the net shares received by the executive.

Future Outlook

The document outlines future vesting schedules for Restricted Share Units (RSUs) granted to the Chief People Officer. The newly granted RSUs on June 16, 2025, will vest 1/3 each year on June 16, 2026, 2027, and 2028, subject to continued employment. Previously granted RSUs from June 15, 2023, and June 17, 2024, also have future vesting dates extending through 2027 and 2028, respectively.

Industry Context

This Form 4 filing details routine executive compensation activities, specifically the vesting and grant of equity awards. Such transactions are common across publicly traded companies as a standard component of executive incentive plans, aiming to align management interests with long-term shareholder value. It does not provide specific insights into broader industry trends or competitive positioning beyond the company's internal compensation practices.

Related Party Transactions

• The grant of Restricted Share Units (RSUs) to Jenna Hendricks, an officer of Capri Holdings Limited, under the Capri Holdings Limited Omnibus Incentive Plan, constitutes a related party transaction as it involves compensation from the company to an executive.

Stakeholder Impact

• Shareholders: The transactions represent routine executive compensation, which is a standard cost of doing business. The new RSU grant aligns executive incentives with long-term shareholder value.
• Employees: The document specifically pertains to an executive's compensation and does not directly impact the broader employee base, though it reflects the company's overall compensation philosophy.
• Management: The Chief People Officer's compensation structure, including equity awards, is detailed, providing transparency into executive incentives.

Next Steps

• Future vesting of the 75,431 Restricted Share Units granted on June 16, 2025, with 1/3 vesting annually on June 16, 2026, 2027, and 2028.
• Continued vesting of RSUs granted on June 15, 2023, with remaining tranches vesting on June 15, 2025, 2026, and 2027.
• Continued vesting of RSUs granted on June 17, 2024, with remaining tranches vesting on June 17, 2025, 2026, 2027, and 2028.

Key Dates

Keywords

Capri Holdings, CPRI, Form 4, Insider Trading, Executive Compensation, Restricted Share Units, Stock Ownership, SEC Filing