Roe Scott A. 4

What Happened
Scott A. Roe, Tapestry's Chief Financial Officer and Chief Operating Officer, exercised stock options and disposed of shares on Feb 10, 2026. He exercised 88,636 option shares (57,541 @ $44.97 for $2,587,619; 31,095 @ $40.58 for $1,261,835). The filing reports open-market sales totaling 44,290 shares for roughly $6.76M, surrender/withholding dispositions of 59,346 shares to cover exercise costs and taxes (value ~ $9.06M), and a charitable gift of 15,000 shares. The pattern indicates a cashless-style exercise where shares were converted and then sold or surrendered to satisfy exercise price, taxes and fees.

Key Details

• Transaction dates: primarily 2026-02-10 (filed 2026-02-12 — appears timely).
• Options exercised: 88,636 shares (57,541 @ $44.97 = $2,587,619; 31,095 @ $40.58 = $1,261,835).
• Open-market sales: 10,198 @ $152.60 ($1,556,215); 15,000 @ $152.61 ($2,289,150); 19,092 @ $152.64 ($2,914,203) — total ≈ $6,759,568.
• Share dispositions for exercise/taxes (withholding): 20,897 @ $152.60 ($3,188,882); 38,449 @ $152.64 ($5,868,855) — total ≈ $9,057,737.
• Gift: 15,000 shares donated (bona fide charitable gift; no compensation).
• Footnotes: F1 — shares sold/surrendered to pay exercise cost and taxes; F2 — charitable gift, no compensation.
• Shares owned after the transactions: not specified in the provided summary of the filing.
• Filing timeliness: Reported Feb 12 for Feb 10 transactions — within the usual two-business-day Form 4 window.

Context

• For retail investors: exercising options is a purchase of company stock by the insider; here the exercise was accompanied by sales and withholding, a common way to cover exercise costs and tax liabilities (effectively a cashless exercise).
• The charitable gift is a transfer and does not necessarily signal the insider’s market view.
• This filing does not indicate a 10% owner—these are executive-level transactions.
• As always, insider sales can be routine (tax/option-related); purchases tend to be a stronger bullish signal for conviction.