SCHEDULE 13G/A: Morris Goldfarb Amends G-III Apparel Group Stake, Disclosing 10.4% Beneficial Ownership

Morris Goldfarb, CEO of G-III Apparel Group Ltd., has filed an amended Schedule 13G, revealing a 10.4% beneficial ownership stake in the company as of December 31, 2024.

Summary

• Morris Goldfarb, Chief Executive Officer of G-III Apparel Group Ltd., beneficially owns an aggregate of 4,595,662 shares of the company's Common Stock.
• This aggregate amount represents 10.4% of the total class of Common Stock outstanding.
• The calculation is based on 43,886,707 shares of Common Stock outstanding as of December 31, 2024, excluding treasury shares.
• Mr. Goldfarb holds sole voting and dispositive power over 1,141,304 shares.
• He holds shared voting and dispositive power over 3,454,358 shares.
• The beneficially owned shares include holdings through Goldfarb Family Partners L.L.C. (166,750 shares), The Morris and Arlene Goldfarb Family Foundation, Inc. (76,175 shares), shares owned jointly with his spouse (3,024,692 shares), shares owned by his spouse (29,666 shares), and shares held by The Morris Goldfarb 2012 Delaware Trust (200,000 shares) and The Arlene Goldfarb 2012 Delaware Trust (200,000 shares).
• Additionally, 187,513 shares are issuable upon vesting of restricted stock units (RSUs).
• Beyond the reported beneficial ownership, Mr. Goldfarb has the right to receive an aggregate of 1,124,490 shares of Common Stock from performance share units (PSUs), subject to performance/market conditions and vesting periods, which are not included in the 10.4% calculation.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not contain inherently positive or negative financial or operational information.

Future Outlook

NA

Management Comments

• Morris Goldfarb, Chief Executive Officer, certified the information set forth in the statement as true, complete, and correct to the best of his knowledge and belief.

Industry Context

This filing is a routine disclosure of beneficial ownership by a key executive and does not provide broader industry trends or competitive analysis. It indicates the continued significant stake of the CEO in G-III Apparel Group Ltd., a company operating in the apparel industry.

Related Party Transactions

• The beneficial ownership includes shares held through family entities such as Goldfarb Family Partners L.L.C. and The Morris and Arlene Goldfarb Family Foundation, Inc.
• A significant portion of shares are owned jointly with Mr. Goldfarb's spouse or directly by his spouse.
• Shares are also held in The Morris Goldfarb 2012 Delaware Trust and The Arlene Goldfarb 2012 Delaware Trust, where Mr. Goldfarb or his spouse serve on the Trust Committee directing voting and disposition decisions.

Stakeholder Impact

• Shareholders: Provides transparency regarding the significant ownership stake of the company's CEO, which can influence investor confidence and perceptions of management alignment with shareholder interests.

Key Dates

Keywords

G-III Apparel Group, Morris Goldfarb, Beneficial Ownership, Schedule 13G, SEC Filing, Common Stock, Shareholding, Corporate Governance, Apparel Industry