Coliseum Capital Amends Gildan Activewear Filing

TL;DR

Coliseum Capital updated its Gildan filing, adding key people and confirming its stake.

AI Summary

Coliseum Capital Management, LLC, through its affiliates, has amended its Schedule 13D filing regarding Gildan Activewear Inc. The filing, dated June 4, 2024, indicates a change in the group members associated with the filing, including Adam Gray and Christopher Shackelton. Coliseum Capital Management, LLC is based in Rowayton, CT.

Why It Matters

This amendment signals ongoing activity and potential strategic shifts by a significant shareholder in Gildan Activewear, which could influence the company's future direction.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often indicate a shareholder's increased engagement or potential activism, which can introduce uncertainty for the company and its stock price.

Key Players & Entities

• Coliseum Capital Management, LLC (company) — Filing entity
• Gildan Activewear Inc. (company) — Subject company
• Adam Gray (person) — Group member
• Christopher Shackelton (person) — Group member
• 375916103 (other) — CUSIP Number for Gildan Activewear Inc. common shares

FAQ

Key Financial Figures

• $36.26 — 9, 2024 116,260 $ 36.05 $ 35.75-$36.26 Separate Account Purchase May 29,
• $37.95 — 31, 2024 32,367 $ 37.66 $ 37.52-$37.95 Separate Account Purchase May 31,
• $37.83 — 3, 2024 73,800 $ 37.74 $ 37.60-$37.83 Separate Account Purchase June 3,

Filing Documents

• d843929dsc13da.htm (SC 13D/A) — 122KB
• 0001193125-24-154288.txt ( ) — 124KB

of the Original Schedule 13D is hereby supplemented as follows

Item 3 of the Original Schedule 13D is hereby supplemented as follows: Since the filing of Amendment No. 1, the source and amount of funds used in purchasing shares of Common Shares by the Reporting Persons and a separate account investment advisory client of CCM (the Separate Account ) were as follows: Purchaser Source of Funds Amount CCP Working Capital $ 8,195,287.69 Separate Account Working Capital $ 2,023,838.85 Item4. Purpose of Transaction. Item 4 of the Original Schedule 13D, as amended and supplemented by Amendment No. 1, is hereby amended and restated as follows: As previously disclosed in the Original Schedule 13D, on December 17, 2023, CCM entered into a support agreement with the Issuer dated December 17, 2023 (the Support Agreement ), a copy of which is attached as Exhibit 1 to the Original Schedule 13D, and on December 17, 2023 and pursuant to the Support Agreement, the Board of Directors of the Issuer appointed Mr. Shackelton to serve as director of the Issuer. As previously disclosed on Amendment No. 1, on April 22, 2024, Mr. Shackelton informed the Board of Directors of the Issuer that he would not stand for re-election at the Issuers 2024 annual meeting and would retire from the Board of Directors. On May 23, 2024, Mr. Shackleton resigned from the Board of Directors of the Issuer. Pursuant to the Support Agreement and subject to certain exceptions set forth in the Support Agreement: CCM has a right to designate a nominee to the Issuers Board of Directors prior to the Issuers annual and general meeting of shareholders to be held in 2025. CUSIP No. 375916103 Page 9 of 11 CCM agreed that at any meeting of shareholders of the Issuer continuing until the close of the Issuers annual and general meeting of shareholders to be held in 2025 at which CCM or certain Affiliated Entities (as defined in the Support Agreement) are entitled to vote, CCM would vote and cause to be voted all the Common Shares that CCM or certain A

of the Original Schedule 13D is amended and restated as follows

Item 6 of the Original Schedule 13D is amended and restated as follows: CCM is an investment adviser whose clients, including CCP, CCC III and the Separate Account, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Common Shares. CC is the general partner of CCP and CCC III. Mr. Gray and Mr. Shackelton are the managers of CC and CCM. The information set forth in Item 4 of this Schedule 13D is hereby incorporated by reference into this Item 6. The Reporting Persons are parties to an agreement with respect to the joint filing of this Schedule 13D and any amendments hereto. A copy of such agreement is attached as Exhibit 2 to the Original 13D and is incorporated by reference herein. CUSIP No. 375916103 Page 11 of 11

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: June 4, 2024 COLISEUM CAPITAL MANAGEMENT, LLC COLISEUM CAPITAL, LLC By: /s/ Chivonne Cassar By: /s/ Chivonne Cassar Chivonne Cassar, Attorney-in-fact Chivonne Cassar, Attorney-in-fact COLISEUM CAPITAL PARTNERS, L.P. COLISEUM CAPITAL CO-INVEST III, L.P. By: Coliseum Capital, LLC, General Partner By: Coliseum Capital, LLC, General Partner By: /s/ Chivonne Cassar By: /s/ Chivonne Cassar Chivonne Cassar, Attorney-in-fact Chivonne Cassar, Attorney-in-fact CHRISTOPHER SHACKELTON ADAM GRAY By: /s/ Chivonne Cassar By: /s/ Chivonne Cassar Chivonne Cassar, Attorney-in-fact Chivonne Cassar, Attorney-in-fact

View Full Filing

View this SC 13D/A filing on SEC EDGAR