Form 4: Kontoor Brands CEO Scott Baxter Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Scott Baxter, CEO of Kontoor Brands, reports changes in his beneficial ownership of company stock due to tax withholding and the acquisition of restricted stock units.
Summary
- On April 1, 2025, Scott Baxter, the Chair, President, and CEO of Kontoor Brands, reported changes in his beneficial ownership of the company's common stock.
- These changes include the disposal of shares to satisfy tax withholding obligations related to settled restricted stock units.
- Specifically, 8,305 shares, 7,711 shares and 7,200 shares were disposed of at a price of $64.14 per share to cover these tax obligations.
- Baxter also acquired 47,352 shares of common stock.
- Following these transactions, Baxter directly owns 314,348.501 shares of common stock, indirectly owns 380 shares by Son, and indirectly owns 172,130.214 shares by Trust.
Sentiment
Score: 6
Explanation: Neutral sentiment as the filing primarily reflects routine transactions related to executive compensation and tax obligations. The acquisition of shares is a slightly positive signal.
Positives
- The acquisition of 47,352 shares suggests continued confidence in the company's future.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. This filing indicates changes in the CEO's holdings, which investors often monitor for signals about management's confidence in the company.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies, ensuring transparency in insider trading.
- The reported transactions are typical for executives receiving stock-based compensation and managing their tax obligations.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the CEO's stake in the company.
- The transactions themselves are unlikely to have a significant impact on other stakeholders.
Key Dates
| Date | Description |
|---|---|
| 04/01/2025 | Date of the reported transactions (disposal of shares for tax withholding and acquisition of shares). |
| 04/02/2025 | Date of signature for the Form 4 filing. |
Keywords
beneficial ownership, Form 4, Kontoor Brands, Scott Baxter, stock, restricted stock units, tax withholding
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