Form 4: Kontoor Brands Director Robert Lynch Reports Acquisition of Phantom Stock Units

Director Robert Lynch reports acquiring phantom stock units in Kontoor Brands through a deferred savings plan.

Summary

• Robert Lynch, a director of Kontoor Brands, Inc., filed a Form 4 disclosing a transaction on March 29, 2024.
• The transaction involved the acquisition of 354.7579 phantom stock units (PSUs) under the Kontoor Brands Deferred Savings Plan For Non-Employee Directors Plan.
• These PSUs were acquired through the deferral of director's fees, with each PSU valued at $59.90.
• The PSUs will be settled in cash upon the reporting person's retirement.
• Following the reported transaction, Lynch beneficially owns 5,948.5553 PSUs.
• The reporting person has direct ownership of the PSUs.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard director compensation practices and aligns interests with the company's long-term performance.

Future Outlook

The phantom stock units will be settled in cash upon the reporting person's retirement.

Industry Context

This filing reflects standard compensation practices for non-employee directors, utilizing deferred savings plans and phantom stock units as part of their remuneration.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning the director's interests with the company's long-term performance.

Key Dates