Form 4: Kontoor Brands CEO Scott Baxter Reports Changes in Beneficial Ownership

Scott Baxter, CEO of Kontoor Brands, reports changes in his beneficial ownership of company stock due to tax withholding and the grant of restricted stock units.

Summary

• On April 1, 2024, Scott Baxter, the Chair, President, and CEO of Kontoor Brands, reported changes in his beneficial ownership of Kontoor Brands, Inc. [KTB] common stock.
• The changes include the disposal of shares to satisfy tax withholding obligations on settled restricted stock units.
• Specifically, 5,867 shares were disposed of at a price of $60.27, as well as 8,125 shares and 7,970 shares, all at $60.27.
• Baxter also acquired 48,061 shares of common stock at $0.
• Following these transactions, Baxter directly owns 318,188.213 shares of common stock, including restricted stock units.
• He also indirectly owns shares through various GRATs (Grantor Retained Annuity Trusts) and a trust for his son.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing reflects routine transactions related to executive compensation and tax obligations.

Positives

• The acquisition of 48,061 shares indicates continued alignment of the CEO's interests with those of the shareholders.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. This filing is specific to the CEO's transactions and doesn't necessarily reflect broader industry trends.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they primarily reflect internal adjustments to the CEO's stock holdings.

Key Dates