Form 4: G-III Apparel Executive Jeffrey Goldfarb Reports Changes in Beneficial Ownership

Executive Vice President Jeffrey Goldfarb reports the vesting of performance stock units and shares withheld for tax obligations.

Summary

• On April 1, 2025, Jeffrey Goldfarb, Executive Vice President of G-III Apparel Group, reported changes in his beneficial ownership of the company's stock.
• 14,656 Performance Stock Units (PSUs) vested, each representing a contingent right to receive one share of common stock.
• The vesting was subject to the satisfaction of two metrics over the three-year performance period of fiscal 2023 through fiscal 2025: three-year cumulative earnings before interest and taxes and three-year average return on invested capital.
• The portion of the PSU that vested based on the achievement of the performance metrics during the Performance Period was 61.4%.
• 19,668 shares were withheld to satisfy the Reporting Person's tax obligation in connection with the vesting of 14,656 PSUs and 23,870 restricted stock units (RSUs).
• Following these transactions, Goldfarb directly owns 564,056 shares of common stock.
• Goldfarb also has indirect ownership through various trusts and LLCs: Amanda Julie Goldfarb 2007 Trust (24,896 shares), JARS Portfolio LLC (47,170 shares), and Ryan Gabriel Goldfarb 2009 Trust (2,200 shares).

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a standard disclosure of stock transactions related to executive compensation. The vesting of PSUs suggests some level of performance achievement, but the tax withholding is a routine event.

Positives

• The vesting of PSUs indicates that G-III Apparel Group achieved at least 61.4% of its performance goals related to earnings and return on invested capital over the three-year period.

Future Outlook

There is no specific future outlook provided in this document.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the alignment of executive incentives with company performance.

Comparison to Industry Standards

• Performance-based equity compensation is a common practice among publicly traded companies to align executive incentives with shareholder value.
• The specific metrics used (EBIT and ROIC) are standard financial measures used to assess company performance.
• Tax withholding on equity compensation is a standard procedure.
• Comparable companies such as PVH Corp. and Ralph Lauren also utilize similar equity compensation plans for their executives.

Stakeholder Impact

• The vesting of PSUs aligns executive compensation with company performance, potentially benefiting shareholders.
• The tax withholding has no direct impact on stakeholders.

Key Dates

Keywords

G-III Apparel Group, Jeffrey Goldfarb, beneficial ownership, Form 4, performance stock units, PSUs, restricted stock units, RSUs, vesting, tax obligation, insider trading