Form 4: V.F. Corp Director Matthew Shattock Reports Phantom Stock Unit Acquisition

Director Matthew Shattock reports acquisition of phantom stock units in V.F. Corp through directors' fee deferral.

Summary

• Matthew J. Shattock, a director of V.F. Corp, reported the acquisition of 1,851.166 phantom stock units (PSUs) on June 28, 2024.
• These PSUs were accrued under the VF Corporation Directors Deferred Savings Plan, and will be settled in cash upon Shattock's retirement.
• The acquisition resulted from the deferral of directors' fees, with each PSU valued at $13.505.
• Following the reported transaction, Shattock beneficially owns 26,835.752 PSUs.
• The PSUs are held directly and represent a 1-for-1 conversion to common stock value for settlement purposes.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as it reflects standard director compensation practices and alignment of interests with shareholders. There are no indications of negative performance or concerns.

Positives

• The acquisition of phantom stock units reflects Shattock's continued investment in V.F. Corp's future.
• The Directors Deferred Savings Plan allows directors to align their interests with the long-term performance of the company.

Future Outlook

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

Industry Context

This filing is a routine disclosure related to director compensation and deferred savings plans, common in publicly traded companies to align director interests with shareholder value.

Comparison to Industry Standards

• Deferred compensation plans for directors are a common practice among publicly traded companies, including competitors like Nike (NKE) and Adidas (ADS), to incentivize long-term value creation.
• The structure of V.F. Corp's Directors Deferred Savings Plan, with settlement in cash upon retirement, is similar to plans offered by companies such as Tapestry (TPR) and Capri Holdings (CPRI).

Stakeholder Impact

• The acquisition of phantom stock units by a director can positively influence shareholder confidence by demonstrating a commitment to the company's long-term success.

Key Dates