Fossil Group Appoints New CFO, Details Compensation
Ticker: FOSL · Form: 8-K · Filed: Jul 1, 2024 · CIK: 883569
| Field | Detail |
|---|---|
| Company | Fossil Group, INC. (FOSL) |
| Form Type | 8-K |
| Filed Date | Jul 1, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, compensation, cfo
Related Tickers: FOSL
TL;DR
Fossil Group names new CFO, Jeffrey Stauffer, starting July 1st with a $450k salary + stock.
AI Summary
On June 25, 2024, Fossil Group, Inc. announced the appointment of Jeffrey N. Stauffer as Chief Financial Officer, effective July 1, 2024. Stauffer will receive an annual base salary of $450,000 and will be eligible for an annual incentive award of up to 75% of his base salary. He will also receive a one-time grant of restricted stock units valued at $500,000.
Why It Matters
The appointment of a new CFO is a significant leadership change that could signal a new strategic direction or financial management approach for Fossil Group.
Risk Assessment
Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategy and performance.
Key Numbers
- $450,000 — CFO Annual Base Salary (Starting salary for Jeffrey N. Stauffer)
- 75% — Max Annual Incentive (Potential bonus for the new CFO)
- $500,000 — Restricted Stock Units (One-time equity award for the new CFO)
Key Players & Entities
- Fossil Group, Inc. (company) — Registrant
- Jeffrey N. Stauffer (person) — Appointed Chief Financial Officer
- $450,000 (dollar_amount) — Annual base salary for new CFO
- 75% (dollar_amount) — Maximum annual incentive award percentage
- $500,000 (dollar_amount) — Value of one-time restricted stock unit grant
- July 1, 2024 (date) — Effective date of CFO appointment
- June 25, 2024 (date) — Date of earliest event reported
FAQ
Who has been appointed as the new Chief Financial Officer of Fossil Group, Inc.?
Jeffrey N. Stauffer has been appointed as the new Chief Financial Officer of Fossil Group, Inc.
When is the appointment of the new CFO effective?
The appointment of Jeffrey N. Stauffer as CFO is effective July 1, 2024.
What is the annual base salary for the new CFO?
The annual base salary for Jeffrey N. Stauffer is $450,000.
What is the maximum annual incentive award the new CFO is eligible for?
The new CFO, Jeffrey N. Stauffer, is eligible for an annual incentive award of up to 75% of his base salary.
What is the value of the one-time stock grant for the new CFO?
Jeffrey N. Stauffer will receive a one-time grant of restricted stock units valued at $500,000.
Filing Stats: 680 words · 3 min read · ~2 pages · Grade level 10.3 · Accepted 2024-07-01 09:04:31
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share FOSL The Nasdaq Stock Market
Filing Documents
- fosl-20240625.htm (8-K) — 36KB
- exhibit991fosltransitionre.htm (EX-99.1) — 14KB
- fosl-20240625_g1.gif (GRAPHIC) — 1KB
- image_0.jpg (GRAPHIC) — 8KB
- 0000883569-24-000057.txt ( ) — 229KB
- fosl-20240625.xsd (EX-101.SCH) — 2KB
- fosl-20240625_def.xml (EX-101.DEF) — 8KB
- fosl-20240625_lab.xml (EX-101.LAB) — 28KB
- fosl-20240625_pre.xml (EX-101.PRE) — 18KB
- fosl-20240625_htm.xml (XML) — 3KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On July 1, 2024, the Company issued a press release, a copy of which is furnished as Exhibit 99.1 hereto, announcing the matters described in Item 5.02 above. The information in Item 7.01 of this Current Report and the accompanying Exhibit 99.1 is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, or incorporated by reference in any filing of the Company under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, whether made before or after the date hereof, except as shall be expressly set forth by specific reference to Item 7.01 of this Current Report in such a filing.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Document Description 99.1 Press Release, dated July 1, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: July 1, 2024 FOSSIL GROUP, INC. By: /s/ Randy S. Hyne Randy S. Hyne Chief Legal Officer and Secretary