Form 4: Kontoor Brands EVP Peter A. Kidd Reports Stock Disposals to Cover Tax Obligations

Peter A. Kidd, EVP and CHRO of Kontoor Brands, Inc., reported disposing of shares to cover tax withholding obligations related to settled restricted stock units.

Summary

• On July 15, 2024, Peter A. Kidd, EVP and CHRO of Kontoor Brands, Inc. (KTB), reported the disposal of 399 and 673 shares of common stock.
• The disposals were executed to satisfy tax withholding obligations on settled restricted stock units.
• The price per share for both transactions was $66.08.
• Following the reported transactions, Kidd beneficially owns 15,432.048 shares of Kontoor Brands common stock, including restricted stock units.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing related to stock transactions for tax purposes, indicating a neutral sentiment.

Industry Context

Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives. These filings are common and expected, especially when executives exercise stock options or have restricted stock units vest, triggering tax obligations.

Stakeholder Impact

• The stock disposal is unlikely to have a significant impact on shareholders, as it is related to tax obligations and represents a small portion of the executive's holdings.

Key Dates