Form 4: Tapestry Legal Officer Exercises Options, Sells Shares
Insider Transaction Report (Form 4)
Tapestry's Chief Legal Officer, David E. Howard, exercised stock options and subsequently sold a portion of the acquired shares, along with shares to cover taxes, on November 18, 2025.
Summary
- David E. Howard, Chief Legal Officer and Secretary of Tapestry, Inc. (TPR), reported multiple transactions on November 18, 2025.
- Howard exercised stock options to acquire a total of 35,968 shares of Common Stock at exercise prices ranging from $33.81 to $42.31 per share.
- Specifically, 11,896 shares were acquired at $33.81, 10,365 shares at $40.58, 8,337 shares at $35.41, and 5,370 shares at $42.31.
- Following the option exercises, Howard sold a total of 25,029 shares of Common Stock (11,173 shares and 13,856 shares) at a price of $102.5 per share.
- An additional 24,795 shares of Common Stock were disposed of at $102.5 per share to cover the cost of exercise and associated taxes and fees.
- After all reported transactions, Howard's direct beneficial ownership of Common Stock decreased to 30,559 shares.
- The transactions were made pursuant to a Rule 10b5-1 pre-arranged trading plan.
Sentiment
Score: 5
Explanation: The filing reports routine insider transactions (option exercise and sale for liquidity/taxes) and does not inherently convey positive or negative sentiment about the company's operational performance or future prospects. It's a neutral event from a company performance perspective.
Positives
- The exercise of stock options by a key executive indicates a realization of value from their compensation package.
- The sale price of $102.5 per share is significantly higher than the option exercise prices, demonstrating a substantial gain for the executive.
Negatives
- The net effect of the transactions was a reduction in the executive's direct beneficial ownership of Common Stock from 80,383 shares (after exercises) to 30,559 shares, which could be perceived as a decrease in insider holding.
Future Outlook
This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.
Industry Context
This is a routine insider transaction report and does not provide specific insights into broader industry trends or competitive landscape. It reflects an executive's personal financial planning related to their equity compensation.
Stakeholder Impact
- Shareholders: The sale of shares by an executive slightly increases the public float, but the overall impact on share price from this routine transaction is typically minimal unless the volume is exceptionally large or signals a significant change in insider sentiment.
- Employees: No direct impact on employees is indicated by this filing.
Key Dates
| Date | Description |
|---|---|
| 08/23/2022 | Date Exercisable for 5,370 stock options with an exercise price of $42.31. |
| 08/22/2023 | Date Exercisable for 8,337 stock options with an exercise price of $35.41. |
| 08/21/2024 | Date Exercisable for 11,896 stock options with an exercise price of $33.81. |
| 08/19/2025 | Date Exercisable for 10,365 stock options with an exercise price of $40.58. |
| 11/18/2025 | Transaction Date for all reported acquisitions and dispositions of Common Stock and derivative securities. |
| 11/19/2025 | Date the Form 4 filing was signed and submitted. |
| 08/23/2031 | Expiration Date for stock options with an exercise price of $42.31. |
| 08/22/2032 | Expiration Date for stock options with an exercise price of $35.41. |
| 08/21/2033 | Expiration Date for stock options with an exercise price of $33.81. |
| 08/19/2034 | Expiration Date for stock options with an exercise price of $40.58. |
Keywords
Tapestry Inc, TPR, SEC Form 4, Insider Trading, Stock Options, Executive Compensation, Share Sale, Beneficial Ownership, Chief Legal Officer
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