Form 4: Kontoor Brands CEO Scott Baxter Executes Stock Option and Sells Shares
SEC Form 4 Filing
Scott Baxter, Chair, President, and CEO of Kontoor Brands, exercised stock options and sold shares of common stock on November 5th and 6th, 2024.
Summary
- On November 5, 2024, Scott Baxter, the Chair, President, and CEO of Kontoor Brands, exercised stock options to acquire 119,160 shares at a price of $30.8383 per share.
- Following the exercise of the options, Baxter sold shares of Kontoor Brands common stock in multiple transactions at weighted average prices of $82.9356, $83.8952, and $84.651.
- On November 6, 2024, Baxter gifted 5,753 shares.
- After these transactions, Baxter directly owns 326,162.745 shares of common stock.
- Baxter also indirectly owns 32,300 shares through a 2022 GRAT #1, 380 shares through his son, and 107,127.214 shares by Trust.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider transactions and provides transparency to the market regarding the CEO's stock ownership and trading activity. It's common for executives to exercise stock options and sell shares for personal financial management.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the overall impact is likely minimal.
Key Dates
| Date | Description |
|---|---|
| 02/21/2019 | 39,721 stock options vested |
| 02/21/2020 | 39,721 stock options vested |
| 02/21/2021 | 39,718 stock options vested |
| 11/05/2024 | Earliest transaction date; Baxter exercised stock options and sold shares |
| 11/06/2024 | Baxter gifted 5,753 shares |
| 11/07/2024 | Date of Form 4 signature |
| 02/20/2028 | Expiration date of stock options |
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