Form 4: Kontoor Brands Director Robert Lynch Reports Phantom Stock Unit Acquisition
SEC Form 4 Filing
Director Robert Lynch reports acquisition of phantom stock units in Kontoor Brands Deferred Savings Plan.
Summary
- Robert Lynch, a director of Kontoor Brands, Inc., filed a Form 4 to report changes in beneficial ownership.
- The report details the acquisition of 321.6773 phantom stock units (PSUs) under the Kontoor Brands Deferred Savings Plan For Non-Employee Directors Plan on June 28, 2024.
- These PSUs were acquired by deferring $66.06 of director's fees per PSU.
- The PSUs are to be settled 100% in cash upon the reporting person's retirement.
- Following the reported transaction, Lynch beneficially owns 6,318.1945 PSUs.
- The PSUs are held directly.
Sentiment
Score: 5
Explanation: Neutral sentiment as it's a standard regulatory filing regarding director compensation.
Future Outlook
The number of PSUs beneficially owned may vary over time due to deemed reinvestment of dividends.
Industry Context
This filing is a routine disclosure related to director compensation and deferred savings plans, common in publicly traded companies.
Stakeholder Impact
- The transaction has minimal direct impact on stakeholders as it relates to director compensation and deferred savings.
Key Dates
| Date | Description |
|---|---|
| 06/28/2024 | Date of phantom stock unit acquisition |
| 07/01/2024 | Date of Form 4 filing |
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