Form 4: Kohl's CFO Jill Timm Reports Changes in Beneficial Ownership

Jill Timm, CFO of Kohl's, reports acquisition and disposal of company stock related to performance share units and tax obligations.

Summary

• On March 12, 2024, Jill Timm, the Chief Financial Officer of Kohl's, acquired 6,400 shares of common stock as part of a settlement of performance share units.
• On the same day, 2,048 shares were withheld by Kohl's to cover tax obligations related to the settlement.
• Following these transactions, Timm directly owns 265,635 shares of Kohl's common stock, which includes 139,253 unvested shares of restricted stock and restricted stock units.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The filing reflects routine transactions related to executive compensation and tax obligations. There is no indication of positive or negative news.

Positives

• The acquisition of shares through performance share units suggests that performance goals were met, which is a positive indicator.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. This filing indicates activity related to executive compensation and tax obligations, which is a common occurrence in publicly traded companies.

Comparison to Industry Standards

• Executive compensation packages often include performance-based equity awards, such as performance share units and restricted stock, to align management's interests with those of shareholders.
• The vesting schedules and performance metrics associated with these awards are typically disclosed in the company's proxy statement.
• Companies like Target (TGT) and Walmart (WMT) also utilize similar equity-based compensation plans for their executives.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they primarily relate to executive compensation and tax obligations.
• Shareholders may view the vesting of performance share units as a positive sign, indicating that performance goals were achieved.

Key Dates