Form 4: Kontoor Brands VP Settles Performance Share Units, Disposes of Shares for Tax Obligations
SEC Form 4 Filing
Susan Denise Sumner, VP & Chief Accounting Officer of Kontoor Brands, Inc., settled performance share units and disposed of shares to cover tax obligations on February 26, 2024.
Summary
- On February 26, 2024, Susan Denise Sumner, VP & Chief Accounting Officer of Kontoor Brands, Inc., engaged in transactions involving the company's common stock.
- Sumner acquired 2,696.484 shares of common stock through the settlement of performance share units.
- These performance share units were related to the performance period ending December 30, 2023.
- Simultaneously, Sumner disposed of 1,145 shares of common stock at a price of $63.10 to satisfy tax withholding obligations related to the settled performance share units.
- Following these transactions, Sumner beneficially owns 14,788.796 shares of Kontoor Brands, Inc.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the filing reflects routine transactions related to executive compensation and tax obligations.
Positives
- The settlement of performance share units indicates that performance goals were likely met for the period ending December 30, 2023.
Industry Context
Form 4 filings are standard disclosures required by the SEC when company insiders trade their company's stock; this filing indicates routine transactions related to executive compensation.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 12/30/2023 | End of performance period for performance share units. |
| 02/26/2024 | Date of transaction: settlement of performance share units and disposal of shares for tax obligations. |
| 02/27/2024 | Date of signature on the Form 4 filing. |
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