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

Director Alex Cho reports acquiring phantom stock units in V.F. Corporation through the Directors Deferred Savings Plan.

Summary

• Alex Cho, a director of V.F. Corporation, reported the acquisition of 1,148.369 phantom stock units (PSUs) on December 27, 2024.
• These PSUs were accrued under the VF Corporation Directors Deferred Savings Plan and will be settled in cash upon retirement.
• The acquisition occurred through the deferral of directors' fees, with each PSU valued at $21.77.
• Following the transaction, Cho beneficially owns 13,204.8663 PSUs.
• The PSUs are convertible to common stock on a 1-for-1 basis.

Sentiment

Score: 7

Explanation: The document indicates a director's continued investment in the company, which is generally viewed positively. The use of a deferred savings plan is a common practice.

Positives

• The acquisition of phantom stock units demonstrates the director's continued investment in the company's future.
• The Directors Deferred Savings Plan allows directors to align their interests with those of shareholders.

Future Outlook

The phantom stock units will be settled in cash upon the reporting person's retirement, with the number of PSUs beneficially owned potentially varying over time due to deemed reinvestment of dividends.

Industry Context

Directors often receive stock-based compensation to align their interests with shareholders. Phantom stock units are a common form of deferred compensation.

Comparison to Industry Standards

• Many companies use deferred compensation plans for directors, including phantom stock units, restricted stock units, and stock options.
• The specific terms of these plans vary widely based on company size, industry, and compensation philosophy.
• Comparing V.F. Corporation's plan to those of peers like Nike (NKE) or Adidas (ADS.DE) would provide a more detailed benchmark.

Stakeholder Impact

• The acquisition of phantom stock units by a director can be viewed positively by shareholders as it aligns management's interests with theirs.

Key Dates