TAPESTRY, INC. 8-K

What Happened Tapestry, Inc. filed an 8-K (Item 5.02) announcing that its Board of Directors increased from ten to eleven members and elected Matthew Madrigal as a director, effective April 6, 2026. Mr. Madrigal will serve as a non‑employee director under the company’s standard director compensation program.

Key Details

• Board size increased from 10 to 11 members; election effective April 6, 2026.
• Annual cash retainer for Mr. Madrigal: $100,000.
• Annual equity grant: $200,000 grant-date fair market value, paid 100% in restricted stock units (RSUs) on the date of Tapestry’s annual meeting; vests in full one year from grant, subject to continued service.
• Initial equity award: $200,000 grant-date fair market value in RSUs granted on April 6, 2026; vests one year from the grant date.
• The filing states there are no arrangements or related-party transactions requiring disclosure under Item 404(a) of Regulation S-K.

Why It Matters Adding a director can affect corporate governance and board expertise; investors should note the change in board composition and the standard compensation levels (cash retainer plus RSUs). The equity awards vest after one year, which ties Mr. Madrigal’s compensation to continued service rather than immediate cash expense. The filing discloses no related-party transactions, which is relevant to assessing independence and potential conflicts.