Kulikowsky Denise 4

What Happened

• Denise Kulikowsky, Chief People Officer of Tapestry, exercised a total of 21,056 option-derived shares on Feb 10, 2026 (14,146 at $26.59 and 6,910 at $40.58), paying aggregate exercise costs of $656,550.
• Immediately after the exercise she disposed of all 21,056 resulting shares: 9,166 shares were sold in the open market at $155.62 for proceeds of $1,426,413, and 11,890 shares were withheld/retired to cover the exercise cost, taxes and fees (value of withheld shares: $1,850,322). The filing’s footnote confirms the withheld shares were sold to cover exercise costs and taxes.

Key Details

• Transaction date: 2026-02-10; filing date: 2026-02-12 (timely filing).
• Option exercises: 14,146 shares @ $26.59 (cost $376,142); 6,910 shares @ $40.58 (cost $280,408). Total exercise cost: $656,550.
• Open-market sales: 3,229 shares @ $155.62 ($502,497) and 5,937 shares @ $155.62 ($923,916). Total cash proceeds: $1,426,413.
• Tax/withholding dispositions: 3,681 shares ($572,837) and 8,209 shares ($1,277,485); total withholding value $1,850,322. Footnote F1: these shares were sold to pay exercise costs, taxes and fees.
• Transaction codes: M = option exercise, S = open-market sale, F = shares withheld for taxes/fees.
• Shares owned after the transaction: not specified in the provided filing data.

Context

• This was a cashless (sell-to-cover) exercise: options were exercised and a portion of the new shares were immediately sold or withheld to meet costs and tax obligations. Such sell-to-cover transactions are common and typically routine to satisfy tax liabilities rather than an outright independent bearish or bullish signal.