Form 4: Kontoor Brands Director Robert K. Shearer Reports Phantom Stock Unit Acquisition

Director Robert K. Shearer reports acquisition of phantom stock units in Kontoor Brands Deferred Savings Plan.

Summary

• Robert K. Shearer, a director of Kontoor Brands, Inc., reported the acquisition of phantom stock units (PSUs) on September 27, 2024.
• The PSUs were accrued under the Kontoor Brands Deferred Savings Plan For Non-Employee Directors Plan.
• A total of 576.1417 PSUs were acquired at a price of $82.445 per PSU, representing deferred director's fees.
• These PSUs will be settled in cash upon the reporting person's retirement.
• Following the transaction, Shearer beneficially owns 34,541.233 PSUs.
• The reporting was filed on September 30, 2024.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, indicating a stable and ongoing governance structure. The sentiment is neutral to slightly positive as it shows director commitment.

Positives

• The acquisition of PSUs reflects Shearer's continued investment in Kontoor Brands.
• The Deferred Savings Plan allows directors to align their interests with the long-term performance of the company.

Industry Context

This filing is a routine disclosure related to director compensation and deferred savings plans, common in publicly traded companies.

Comparison to Industry Standards

• Deferred compensation plans for directors are a common practice among publicly traded companies, including peers of Kontoor Brands.
• Companies like Levi Strauss & Co. and PVH Corp. also utilize similar deferred compensation mechanisms to align director interests with shareholder value.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders.
• It reinforces the alignment of director interests with shareholder value through deferred compensation.

Key Dates