Form 4: Tapestry Director Kevin Hourican Acquires Shares and Stock Options
SEC Form 4 Filing
Director Kevin Hourican acquired 1,788 shares of common stock and 5,280 stock options in Tapestry, Inc.
Summary
- On February 29, 2024, Kevin Hourican, a director of Tapestry, Inc., acquired 1,788 shares of common stock at a price of $47.53 per share.
- These shares were received as unvested restricted stock units under the company's Stock Incentive Plan and will vest on March 1, 2025.
- Hourican also acquired 5,280 stock options under the same plan, exercisable from March 1, 2025, to March 1, 2034, at a price of $47.53.
- Following these transactions, Hourican directly owns 1,788 shares of Tapestry, Inc. common stock and 5,280 stock options.
- Hourican has granted power of attorney to David E. Howard, Emily S. Zahler, and Caroline E. de Rooy to handle SEC filings on his behalf.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a standard disclosure of insider transactions. The acquisition of shares by a director can be seen as a positive signal, but it's not a major event.
Positives
- The acquisition of shares and stock options by a director signals confidence in the company's future performance.
Future Outlook
The document does not contain specific forward-looking statements beyond the vesting and expiration dates of the acquired securities.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. These transactions can be viewed as a signal of management's confidence in the company's prospects, but should be considered in the context of the individual's overall holdings and trading history.
Comparison to Industry Standards
- Stock option grants and restricted stock units are common forms of executive compensation in publicly traded companies, including Tapestry's competitors such as Capri Holdings (CPRI) and Ralph Lauren Corporation (RL).
Stakeholder Impact
- The acquisition of shares by a director may have a slightly positive impact on shareholder sentiment.
Key Dates
| Date | Description |
|---|---|
| February 19, 2024 | Date of Power of Attorney granted by Kevin P. Hourican. |
| February 29, 2024 | Date of transaction: acquisition of common stock and stock options. |
| March 1, 2025 | Vesting date for the acquired restricted stock units. |
| March 1, 2025 | Earliest exercisable date for the acquired stock options. |
| March 1, 2034 | Expiration date for the acquired stock options. |
| March 01, 2024 | Date of filing. |
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