Form 4: Tapestry CEO Joanne Crevoiserat Reports Stock Disposals for Tax Obligations

Joanne C. Crevoiserat, CEO of Tapestry, Inc., reports the disposal of shares to cover tax obligations related to the vesting of restricted stock units and performance restricted stock units.

Summary

• Joanne C. Crevoiserat, the CEO of Tapestry, Inc. (TPR), filed a Form 4 with the SEC on August 26, 2024.
• The filing reports the disposal of Tapestry common stock on August 23, 2024, to cover tax obligations.
• 5,313 shares were disposed of at a price of $41.66 to cover taxes related to the vesting of restricted stock units.
• An additional 48,195 shares were disposed of at the same price to cover taxes related to the vesting of performance restricted stock units.
• Following these transactions, Crevoiserat directly owns 466,966 shares of Tapestry common stock.
• The performance measures for the performance restricted stock units were certified on August 21, 2023, and these securities include all dividends accumulated since the granting of the award on August 23, 2021.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The filing reflects routine stock disposals for tax purposes, which is a normal part of executive compensation. There is no indication of positive or negative sentiment towards the company's prospects.

Industry Context

Executive stock transactions are routinely monitored by investors as they can provide insights into management's perspective on the company's valuation and future prospects. Disposals to cover tax obligations are common and generally not interpreted as a negative signal.

Stakeholder Impact

• The disposal of shares by the CEO could have a minor impact on shareholders due to the increased supply of shares in the market, but this is likely to be negligible given the relatively small number of shares involved.

Key Dates