Dadlani Manesh 4

What Happened

• Manesh Dadlani, VP, Controller and Principal Accounting Officer of Tapestry (TPR), exercised 402 shares of derivative securities on Feb 11, 2026 (exercise cost $42.31/share, $17,009 total) and sold shares in connection with the exercise and additional open-market sales.
• Open-market sales: 115 shares at $153.75 ($17,681) and 2,032 shares at $153.45 ($311,810), yielding roughly $329,491 in gross proceeds. Additionally, 287 shares were disposed (withheld) to cover taxes/fees valued at ~$44,126.
• The transactions reflect an option exercise with sell-to-cover (tax withholding) and additional sales; sales are generally routine and do not by themselves indicate company-wide sentiment.

Key Details

• Transaction date: 2026-02-11 (Form 4 filed 2026-02-12).
• Option exercise: 402 shares exercised at $42.31 per share (total cost ~$17,009).
• Open-market sales: 115 shares @ $153.75 and 2,032 shares @ $153.45 (gross proceeds ≈ $329,491).
• Tax withholding/payment: 287 shares disposed to cover exercise taxes/fees (≈ $44,126) — footnote F1 confirms this.
• Shares owned following the reported transactions: not specified in the provided filing details.
• Filing timeliness: filed the next day (no late filing flag noted).

Context

• This was an exercise of derivative securities (options) followed by sales to cover the exercise cost and tax liability (a typical "sell-to-cover" cashless exercise). The filing shows both the acquisition via exercise and subsequent dispositions; F-code indicates shares were withheld/sold to pay taxes and fees.