4//SEC Filing
Krueger Laurel 4
Accession 0000950103-19-007192
CIK 0001760965other
Filed
May 29, 8:00 PM ET
Accepted
May 30, 9:12 PM ET
Size
9.6 KB
Accession
0000950103-19-007192
Insider Transaction Report
Form 4
Krueger Laurel
VP, Gen Counsel and Corp. Sec.
Transactions
- Award
Common Stock
2019-05-28+14,811.122→ 14,811.122 total - Award
Stock Option (Right to Buy)
2019-05-28+6,396→ 6,396 totalExercise: $33.96Exp: 2029-01-22→ Common Stock (6,396 underlying)
Footnotes (5)
- [F1]Numbers measured based on the equity awards held by the Reporting Person as of May 22, 2019. All equity awards held by the Reporting Person were subject to adjustment and conversion following the Distribution (as defined below) subject to the terms of the the Employee Matters Agreement, dated as of March 22, 2019, by and between Kontoor Brands, Inc. and VF Corporation ("EMA"), with such measurement period beginning on May 20, 2019 and ending on the close of trading on May 28, 2019.
- [F2]Represents the grant of restricted stock with respect to shares of common stock of Kontoor Brands, Inc. ("Kontoor Brands"), without par value ("Kontoor Brands Common Stock"), upon the conversion of restricted stock with respect to shares of common stock of VF Corporation ("VF"), without par value and stated capital of $0.25 per share ("VF Common Stock"), held by the Reporting Person as of May 22, 2019, in accordance with the terms of EMA and the anti-dilution adjustment provisions under the VF 1996 Stock Compensation Plan ("VF Stock Plan"), in connection with the prorata spinoff distribution ("Distribution") by VF of all of its shares of Kontoor Brands Common Stock to the holders of record of VF Common Stock on May 10, 2019 ("Record Date").
- [F3]The shares of Kontoor Brands restricted stock were granted pursuant to the Kontoor Brands 2019 Stock Compensation Plan ("Kontoor Brands Stock Plan") in a manner intended to preserve the aggregate intrinsic value of the awards, and are generally subject to the same terms and conditions (including vesting and payment schedules) as applicable to the corresponding VF restricted stock.
- [F4]Represents the grant of stock options to purchase Kontoor Brands Common Stock ("Kontoor Brands Options") upon the conversion of stock options to purchase VF Common Stock ("VF Options"), in accordance with the terms of the EMA and the anti-dilution adjustment provisions under the VF Stock Plan, in connection with the Distribution. The Kontoor Brands Options were granted pursuant to the Kontoor Brands Stock Plan in a manner intended to preserve the aggregate intrinsic value of the awards, and are generally subject to the same terms and conditions (including vesting, exercise and expiration schedules) as applicable to the corresponding VF Options.
- [F5]This option vests as follows: 2,132 shares vest on 1/23/2020; 2,132 shares vest on 1/23/2021; and 2,132 shares vest on 1/23/2022.
Documents
Issuer
Kontoor Brands, Inc.
CIK 0001760965
Entity typeother
Related Parties
1- filerCIK 0001745685
Filing Metadata
- Form type
- 4
- Filed
- May 29, 8:00 PM ET
- Accepted
- May 30, 9:12 PM ET
- Size
- 9.6 KB