Form 4: Tapestry Inc. Executive Howard David E. Reports Stock Transactions

General Counsel & Secretary of Tapestry, Inc., Howard David E., reports acquisition and disposal of company stock and stock options.

Summary

• On August 16, 2024, Howard David E. disposed of 4,807 shares of Tapestry, Inc. common stock at a price of $40.4 per share to cover taxes related to vesting restricted stock units.
• On August 19, 2024, he acquired 12,321 shares of common stock in the form of unvested restricted stock units at $40.58 per share, which will vest in four equal tranches annually starting August 19, 2025.
• He also acquired 6,161 shares of common stock in the form of unvested restricted stock units at $40.58 per share, which will vest in full on August 19, 2026.
• Additionally, he acquired 41,459 stock options with an exercise price of $40.58, vesting in four equal installments annually starting August 19, 2025, and expiring on August 19, 2034.
• Following these transactions, Howard David E. beneficially owns 94,545 shares of common stock and 41,459 stock options.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine filing related to executive compensation and doesn't inherently indicate positive or negative news about the company's performance.

Positives

• The acquisition of restricted stock units and stock options demonstrates the executive's continued investment and alignment with the company's long-term performance.

Future Outlook

The reported transactions indicate the executive's ongoing participation in the company's equity incentive plans, with vesting schedules extending over the next several years.

Industry Context

Form 4 filings are standard practice and provide transparency into the trading activities of company insiders, allowing investors to gauge management's sentiment and alignment with shareholder interests. These filings are closely watched in the investment community.

Comparison to Industry Standards

• Executive compensation packages often include stock options and restricted stock units to align management's interests with those of shareholders.
• Vesting schedules are a common mechanism to incentivize long-term commitment and performance.
• The specific terms of these equity grants (e.g., vesting periods, exercise prices) are generally comparable to those offered by peer companies in the retail and luxury goods sectors.

Stakeholder Impact

• Shareholders can use this information to understand the alignment of management's interests with their own.
• Employees may be impacted by the overall compensation structure and equity incentive plans.

Key Dates