Kontoor Brands (KTB) CEO Scott H. Baxter Exercises Options, Sells Shares

What Happened

• Scott H. Baxter (Chairman, CEO, Director) exercised 184,403 derivative shares (code M) at $22.04 per share (cost $4,064,980) on 2026-08-13 and then sold all 184,403 shares in open-market transactions the same day. The sales consisted of 116,872 shares at a weighted average price of $82.99 (proceeds $9,699,499) and 67,531 shares at a weighted average price of $84.09 (proceeds $5,678,830), totaling about $15,378,329 in gross proceeds. The filing is an amended Form 4.

Key Details

• Transaction date: 2026-08-13; Form 4 filed (amended) 2026-08-18.
• Exercise: 184,403 shares @ $22.04 (acquired) — $4,064,980.
• Sales: 116,872 shares @ weighted avg $82.99 (range $82.50–$83.49) — $9,699,499; 67,531 shares @ weighted avg $84.09 (range $83.57–$84.14) — $5,678,830.
• Total shares sold = 184,403; total sale proceeds ≈ $15.38M.
• Post-transaction holdings: not specified in this filing.
• Notable footnotes:
  • F1: Includes 694.173 shares received as dividend equivalents on RSUs; common stock totals include RSUs.
  • F2/F3: Reported sale prices are weighted averages; per-footnote ranges list the specific price bands.
  • F4: Amended to correct a clerical error: 56,160 shares were transferred from the reporting person's 2025 GRAT to a trust of which he is sole trustee/beneficiary; because beneficial ownership didn’t change, the transfer was exempt and those shares are included in his direct holdings.
  • F5: The option(s) exercised vested in parts on 2/22/2018, 2/22/2019 and 2/22/2020.
• Filing note: This is an amended Form 4 filed five days after the trade date; Form 4s are typically due within two business days of the transaction.

Context

• This sequence (exercise followed by immediate sale of all acquired shares) is consistent with a cashless exercise or an immediate sale of exercised shares; the filing shows the acquisition (M) and corresponding open-market sales (S) of the same 184,403 shares. The amended filing corrects a prior clerical error about a trust transfer and does not itself indicate the insider’s investment intent.