Fossil Group Elects New Directors, Updates Executive Compensation
Ticker: FOSL · Form: 8-K · Filed: Sep 4, 2024 · CIK: 883569
| Field | Detail |
|---|---|
| Company | Fossil Group, INC. (FOSL) |
| Form Type | 8-K |
| Filed Date | Sep 4, 2024 |
| Risk Level | medium |
| Pages | 6 |
| Reading Time | 7 min |
| Key Dollar Amounts | $0.01, $1,100,000, $1,000,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, executive-compensation, governance
Related Tickers: FOSL
TL;DR
Fossil Group adds 2 new board members, Dennis out. Exec comp details released.
AI Summary
Fossil Group, Inc. announced on September 1, 2024, the election of two new directors, Jeffrey N. Stauffer and Michael L. Smith, to its Board of Directors. This change follows the departure of director Robert L. Dennis. The company also disclosed details regarding compensatory arrangements for its named executive officers.
Why It Matters
Changes in board composition can signal shifts in company strategy or governance, while updates to executive compensation are closely watched by investors for alignment with performance.
Risk Assessment
Risk Level: medium — Board changes and executive compensation disclosures can impact investor confidence and signal potential strategic shifts.
Key Players & Entities
- Fossil Group, Inc. (company) — Registrant
- Jeffrey N. Stauffer (person) — Newly Elected Director
- Michael L. Smith (person) — Newly Elected Director
- Robert L. Dennis (person) — Departing Director
- September 1, 2024 (date) — Date of earliest event reported
FAQ
Who are the new directors elected to Fossil Group's Board?
Jeffrey N. Stauffer and Michael L. Smith were elected as new directors.
Who departed from Fossil Group's Board of Directors?
Robert L. Dennis departed from the Board of Directors.
What is the date of the earliest event reported in this 8-K filing?
The earliest event reported is dated September 1, 2024.
What other information is disclosed regarding executive officers?
The filing includes information regarding compensatory arrangements of certain officers.
What is the company's state of incorporation?
Fossil Group, Inc. is incorporated in Delaware.
Filing Stats: 1,740 words · 7 min read · ~6 pages · Grade level 11.1 · Accepted 2024-09-04 08:30:39
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share FOSL The Nasdaq Stock Mar
- $1,100,000 — titled to: (i) an annual base salary of $1,100,000 and (ii) an annual cash bonus with a ta
- $1,000,000 — to will receive a cash bonus payment of $1,000,000 in lieu of any actual performance payme
Filing Documents
- tm2423203d1_8k.htm (8-K) — 39KB
- tm2423203d1_ex10-1.htm (EX-10.1) — 65KB
- tm2423203d1_ex99-1.htm (EX-99.1) — 7KB
- tm2423203d1_8kimg001.jpg (GRAPHIC) — 5KB
- tm2423203d1_ex10-1img001.jpg (GRAPHIC) — 3KB
- tm2423203d1_ex99-1img001.jpg (GRAPHIC) — 4KB
- 0001104659-24-096657.txt ( ) — 374KB
- fosl-20240901.xsd (EX-101.SCH) — 3KB
- fosl-20240901_def.xml (EX-101.DEF) — 26KB
- fosl-20240901_lab.xml (EX-101.LAB) — 36KB
- fosl-20240901_pre.xml (EX-101.PRE) — 25KB
- tm2423203d1_8k_htm.xml (XML) — 5KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On September 4, 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, as amended (the "Exchange Act"), or incorporated by reference in any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, 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. Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Document Description 10.1 Offer Letter, dated August 10, 2024, by and between Franco Fogliato and the Company. 10.2 Form of Indemnification Agreement signed by directors and executive officers (incorporated by reference to Exhibit 10.2 of the Company's Quarterly Report on Form 10-Q filed on November 9, 2023). 99.1 Press Release, dated September 4, 2024, announcing management and Board changes. 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: September 4, 2024 FOSSIL GROUP, INC. By: /s/ Randy S. Hyne Randy S. Hyne Chief Legal Officer and Secretary