Kahn Todd 4

What Happened

• Todd Kahn, CEO and Brand President of Coach (Tapestry, ticker TPR), exercised 57,286 derivative securities (options) on 2026-05-26 at an exercise price of $42.31, costing $2,423,771.
• On the same day he disposed of all 57,286 resulting shares: 19,557 shares were sold in the open market at $140.02 for $2,738,371, and 37,729 shares were surrendered/withheld at $140.02 to cover taxes and fees valued at $5,282,815. The filing shows the exercise and immediate disposition (cashless exercise), so no net shares from this exercise are reported as retained.

Key Details

• Transaction date: 2026-05-26; Filing date: 2026-05-27 (timely).
• Exercise: 57,286 shares exercised at $42.31 = $2,423,771 (code M).
• Open-market sale: 19,557 shares @ $140.02 = $2,738,371 (code S).
• Tax withholding/surrender: 37,729 shares @ $140.02 = $5,282,815 (code F). Footnote: shares sold to pay exercise cost, taxes and fees.
• Shares owned after transaction: not specified in this Form 4.
• Filing timeliness: filed the next day; not indicated as late.

Context

• This was a cashless exercise: options were exercised and the resulting shares were immediately sold/withheld to cover the exercise cost and tax obligations. That pattern is common for option exercises and does not necessarily signal a buy decision or change in long-term view.
• Transaction codes: M = option exercise (acquisition), S = open-market sale, F = shares withheld/sold to cover taxes.