Form 4: V.F. Corporation Director Richard Carucci Reports Phantom Stock Unit Acquisition

Director Richard Carucci reports acquisition of phantom stock units in V.F. Corporation through deferral of director's fees.

Summary

• Richard Carucci, a director of V.F. Corporation, reported the acquisition of 5,553.499 phantom stock units (PSUs) on June 28, 2024.
• These PSUs were accrued under the VF Corporation Directors Deferred Savings Plan.
• The PSUs are to be settled 100% in cash upon Carucci's retirement.
• The acquisition resulted in Carucci beneficially owning 60,552.3699 PSUs.
• Each PSU was acquired by deferring $13.505 of director's fees per PSU.

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 deferred compensation plan.

Positives

• The director's participation in the deferred savings plan demonstrates confidence in the company's long-term prospects.

Future Outlook

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

Industry Context

Directors often use deferred compensation plans as a tax-efficient way to save for retirement and align their interests with shareholders.

Comparison to Industry Standards

• Deferred compensation plans for directors are a common practice among publicly traded companies.
• The specifics of these plans, such as the types of securities offered (phantom stock, stock options, etc.) and the vesting schedules, can vary widely.
• Comparing V.F. Corporation's plan to those of its peers (e.g., Nike, Adidas) would provide a better understanding of its competitiveness.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders.
• It signals that a director is incentivized to act in the long-term interests of the company.

Key Dates