Form 4: Foot Locker Director Steven Oakland Receives Stock Distribution

Director Steven Oakland received phantom stock units as part of his 2024 annual retainer.

Summary

• Steven Oakland, a director of Foot Locker, Inc., received 3,310.594 phantom stock units on July 1, 2024.
• The stock distribution was made as payment for the stock portion of his 2024 annual retainer.
• The phantom stock units were accrued under the Foot Locker 2007 Stock Incentive Plan, as amended and restated.
• These units will be settled only in stock following Mr. Oakland's termination of service as a director.
• The value of consideration is equal to the closing price of a share of the Company's common stock on June 28, 2024, which was $24.92.
• Following the transaction, Mr. Oakland beneficially owns 24,337.455 phantom stock units and 19,119 shares of common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally. The alignment of director interests with shareholders is a positive factor.

Positives

• The receipt of stock units aligns the director's interests with those of the shareholders.

Industry Context

This filing is a routine disclosure related to director compensation and is typical for publicly traded companies.

Comparison to Industry Standards

• Director compensation packages often include a mix of cash and equity.
• Granting stock or phantom stock units is a common practice to align director interests with shareholder value, similar to practices at companies like Nike (NKE) and Adidas (ADS).

Stakeholder Impact

• The stock distribution to the director has a minor positive impact on shareholders by aligning interests.

Key Dates