Form 4: V.F. Corp Director Alex Cho Reports Acquisition of Phantom Stock Units

Director Alex Cho reports acquisition of phantom stock units under the VF Corporation Directors Deferred Savings Plan.

Summary

• On September 27, 2024, Alex Cho, a director of V.F. Corp, reported the acquisition of 1,275.185 phantom stock units (PSUs) under the VF Corporation Directors Deferred Savings Plan.
• These PSUs were acquired at a price of $19.605 each, reflecting deferred director's fees.
• Following this transaction, Cho's direct ownership includes 12,015.5983 PSUs.
• The PSUs will be settled in cash upon Cho's retirement.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects a director's continued investment in the company through a standard compensation mechanism.

Positives

• The acquisition of phantom stock units demonstrates the director's continued investment in the company's future.
• The deferred savings plan allows directors to align their interests with those of the shareholders.

Future Outlook

The phantom stock units will be settled in cash upon the reporting person's retirement.

Industry Context

Directors often receive stock options or restricted stock as part of their compensation packages to align their interests with those of shareholders. Phantom stock units are a cash-settled alternative that provides similar incentives without diluting existing shareholders.

Comparison to Industry Standards

• Director compensation packages vary widely across industries and companies.
• Stock options, restricted stock, and phantom stock units are common components of director compensation.
• The specific terms and conditions of these awards, such as vesting schedules and exercise prices, can vary significantly.
• Comparing V.F. Corp's director compensation practices to those of its peers in the apparel and footwear industry would provide a more comprehensive assessment.

Stakeholder Impact

• The acquisition of phantom stock units aligns the director's interests with those of the shareholders.
• The deferred savings plan does not have an immediate impact on employees, customers, suppliers, or creditors.

Key Dates