Tapestry CEO Joanne Crevoiserat Exercises Options, Sells Shares

What Happened
Joanne Crevoiserat, CEO of Tapestry (TPR), exercised stock options on August 19, 2026 to acquire 66,061 shares (35,770 @ $20.97 and 30,291 @ $15.83), paying about $1.23M in exercise price. That same day she disposed of 72,573 shares through a combination of tax-withholding, payments to cover exercise costs, and open-market sales. The open-market and related disposals generated roughly $9.61M in gross proceeds.

Key Details

• Transaction date: August 19, 2026; Form 4 filed August 20, 2026 (appears timely).
• Options exercised (Code M): 35,770 shares @ $20.97 ($750,097) and 30,291 shares @ $15.83 ($479,507) — total exercise cost ≈ $1,229,604.
• Dispositions:
  • 6,512 shares withheld for taxes @ $131.72 = $857,761 (F1).
  • 13,041 shares sold open market @ $132.47 = $1,727,541 (S, F2).
  • 14,720 shares sold open market @ $132.47 = $1,949,958 (S, F2).
  • 17,250 shares used to pay exercise/taxes @ $132.47 = $2,285,108 (F2).
  • 21,050 shares used to pay exercise/taxes @ $132.47 = $2,788,494 (F2).
  • Total disposed = 72,573 shares; total gross proceeds from disposals ≈ $9,608,862.
• Footnotes: F1 = shares withheld to pay taxes on RSU vesting; F2 = shares sold to pay exercise costs, taxes and fees; F3 = the open-market sales were pursuant to a Rule 10b5-1 plan adopted Nov 19, 2025.
• Shares owned after transaction: not specified in the provided excerpt of the filing.

Context

• The filing shows a typical exercise + sell pattern (options exercised, then shares withheld/sold to cover taxes and exercise costs, with additional open-market sales). The derivative code M indicates option exercise; related zero-dollar derivative disposal lines reflect conversion of the options into shares.
• Sales under a pre-established 10b5-1 plan suggest at least some open-market selling was pre-planned and not the result of contemporaneous material nonpublic information.
• Facts only — no inference about management view or company outlook is made.