V.F. Corp Amends 8-K to Detail Senior Notes Due 2026, 2028, 2029, 2032

TL;DR

**VFC just clarified its debt structure, detailing specific senior notes due through 2032.**

AI Summary

V.F. Corporation (VFC) filed an 8-K/A on January 18, 2024, amending a previous report from December 15, 2023. This amendment clarifies the specific series of senior notes issued, including 4.125% Senior Notes due 2026, 0.250% Senior Notes due 2028, 4.250% Senior Notes due 2029, and 0.625% Senior Notes due 2032. This matters to investors because it provides precise details about VFC's debt structure, which is crucial for assessing the company's financial health and risk profile.

Why It Matters

This filing provides specific details about V.F. Corporation's outstanding senior notes, which helps investors understand the company's debt obligations and overall financial leverage.

Risk Assessment

Risk Level: low — This is an amendment providing clarification on existing debt, not announcing new debt or a significant change in financial position.

Analyst Insight

A smart investor would review this clarification to ensure their understanding of V.F. Corporation's debt maturity schedule and interest obligations is accurate, especially if they are performing a detailed credit analysis or valuation.

Key Numbers

• 2023-12-15 — Date of earliest event reported (The original event date for which this 8-K/A provides clarification.)
• 2026 — Maturity year (Maturity year for the 4.125% Senior Notes.)
• 2028 — Maturity year (Maturity year for the 0.250% Senior Notes.)
• 2029 — Maturity year (Maturity year for the 4.250% Senior Notes.)
• 2032 — Maturity year (Maturity year for the 0.625% Senior Notes.)

Key Players & Entities

• V.F. Corporation (company) — the registrant filing the 8-K/A
• Pennsylvania (company) — state of incorporation for V.F. Corporation
• Denver, Colorado (company) — principal executive offices of V.F. Corporation
• 4.125% (dollar_amount) — interest rate for Senior Notes due 2026
• 0.250% (dollar_amount) — interest rate for Senior Notes due 2028
• 4.250% (dollar_amount) — interest rate for Senior Notes due 2029
• 0.625% (dollar_amount) — interest rate for Senior Notes due 2032

FAQ

Filing Documents

• d641969d8ka.htm (8-K/A) — 35KB
• 0001193125-24-010243.txt ( ) — 212KB
• vfc-20231215.xsd (EX-101.SCH) — 5KB
• vfc-20231215_def.xml (EX-101.DEF) — 14KB
• vfc-20231215_lab.xml (EX-101.LAB) — 25KB
• vfc-20231215_pre.xml (EX-101.PRE) — 16KB
• d641969d8ka_htm.xml (XML) — 9KB

05

Item 1.05 Material Cybersecurity Incidents. As disclosed in the Original Report, on December 13, 2023, VF detected unauthorized occurrences on a portion of its information technology (IT) systems. Upon detecting the unauthorized occurrences, VF immediately began taking steps to contain, assess and remediate the cyber incident, including beginning an investigation with leading external cybersecurity experts, activating its incident response plan, and shutting down some systems. As a result of these and other measures, and while VF's investigation and remediation efforts remain ongoing, VF believes the threat actor was ejected from VF's IT systems on December 15, 2023. VF has notified, is cooperating with, and will continue to cooperate with and notify, federal law enforcement and the relevant regulatory authorities as required under applicable law. As of the date of this Amendment, VF-operated retail stores, brand e-commerce sites and distribution centers are operating with minimal issues. After VF shut down some of its systems, VF experienced disruption to certain of its operations, including interrupted replenishment of retail store inventory and delayed order fulfillment which had impacts such as the cancellation by customers and consumers of some product orders, reduced demand on certain of its brands' e-commerce sites, and delay of some wholesale shipments. Since the filing of the Original Report, while VF is still experiencing minor residual impacts from the cyber incident, VF has resumed retail store inventory replenishment and product order fulfillment, and is caught up on fulfilling orders that were delayed as a result of the cyber incident. Since the filing of the Original Report, VF has substantially restored the IT systems and data that were impacted by the cyber incident, but continues to work through minor operational impacts. Based on VF's preliminary analysis from its ongoing investigation, VF currently estimates that the threat actor stole per

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K/A contains "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are made based on VF's expectations and beliefs concerning future events impacting VF and therefore involve several risks and uncertainties. Words such as "will," "anticipate," "estimate," "expect," "should," "believe," and "may" and other words and terms of similar meaning or use of future dates may be used to identify forward-looking statements, however, the absence of these words or similar expressions does not mean that a statement is not forward-looking. All statements regarding the impact from the cybersecurity incident, the scope of the investigation and VF's plans, objectives, projections and expectations relating to VF's operations or financial condition, and assumptions related thereto are forward-looking statements. Forward-looking statements are not guarantees and actual results could differ materially from those expressed or implied in the forward-looking statements. VF undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Potential risks and uncertainties that could cause the actual results of operations or financial condition of VF to differ materially from those expressed or implied by forward-looking statements include, but are not limited to: VF's ongoing assessment of the impacts of the cybersecurity incident; VF's ongoing assessment of the incident, including VF's potential discovery of additional information related to the incident in connection with its investigation or otherwise; VF's expectations regarding its ability to contain and remediate the cybersecurity incident; further delays in the time required to verify some or all of VF's information technology systems; the impact of the incident on VF's relationships with customers, consumers,

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. V.F. CORPORATION By: /s/ Jennifer S. Sim Name: Jennifer S. Sim Title: Executive Vice President, General Counsel & Secretary Date: January 18, 2024

View Full Filing

View this 8-K/A filing on SEC EDGAR