Tapestry Files 8-K on Executive Changes and Compensation

TL;DR

**Tapestry just filed an 8-K about executive changes and compensation, so keep an eye on leadership shifts!**

AI Summary

Tapestry, Inc. filed an 8-K on February 29, 2024, reporting on the departure or election of directors or certain officers and their compensatory arrangements, as well as financial statements and exhibits. The filing indicates changes in executive or board composition and related compensation structures, effective as of the report date.

Why It Matters

Changes in leadership and executive compensation can signal strategic shifts or financial health, impacting investor confidence and future company performance.

Risk Assessment

Risk Level: medium — Changes in executive leadership can introduce uncertainty, but the specific details of the changes and compensation are not fully disclosed in this summary to assess higher risk.

Key Players & Entities

• Tapestry, Inc. (company) — Registrant
• February 29, 2024 (date) — Date of earliest event reported
• Maryland (company) — State of Incorporation
• 10 Hudson Yards, New York, NY 10001 (company) — Principal executive offices address
• 212-946-8400 (dollar_amount) — Registrant's telephone number

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value TPR New York Stock Exchan
• $100,000 — entitled to an annual cash retainer of $100,000 as well as an annual equity grant with
• $170,000 m — with a grant date fair market value of $170,000 made on the date of Tapestry's annual mee
• $170,000 — with a grant date fair market value of $170,000 on February 29, 2024, with 50% of the v

Filing Documents

• ef20022727_8k.htm (8-K) — 30KB
• ef20022727_ex99-1.htm (EX-99.1) — 19KB
• image00001.jpg (GRAPHIC) — 4KB
• image00002.jpg (GRAPHIC) — 3KB
• image00003.jpg (GRAPHIC) — 3KB
• 0001140361-24-010271.txt ( ) — 201KB
• tpr-20240229.xsd (EX-101.SCH) — 4KB
• tpr-20240229_lab.xml (EX-101.LAB) — 21KB
• tpr-20240229_pre.xml (EX-101.PRE) — 16KB
• ef20022727_8k_htm.xml (XML) — 4KB

02

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (d) On February 29, 2024, the Board of Directors (the "Board") of Tapestry, Inc. ("Tapestry" or the "Company") increased the size of the Board from nine to eleven members and elected each of Kevin Hourican and David Elkins as a director of the Company, effective as of February 29, 2024. Mr. Hourican has been appointed to serve as a member of the Human Resources Committee and Mr. Elkins has been appointed to serve as a member of the Audit Committee, each effective of as February 29, 2024. In connection with each of Mr. Hourican's and Mr. Elkins' appointment to the Board and in accordance with the Company's standard compensation arrangements for non-employee directors, each of Mr. Hourican and Mr. Elkins will be entitled to an annual cash retainer of $100,000 as well as an annual equity grant with a grant date fair market value of $170,000 made on the date of Tapestry's annual meeting of stockholders, with 50% of the value of the award made in the form of stock options and 50% made in the form of restricted stock units. These equity awards vest in full one year from the date of grant, subject to the director's continued service until that time. In addition, each of Mr. Hourican and Mr. Elkins will be granted an initial Tapestry equity award with a grant date fair market value of $170,000 on February 29, 2024, with 50% of the value of the award made in the form of stock options and 50% made in the form of restricted stock units. These initial grants will vest on the one year anniversary of the grant date. There are no arrangements or understandings between either of Mr. Hourican or Mr. Elkins and any other person pursuant to which Mr. Hourican or Mr. Elkins was elected as a director, and there have been no transactions since the beginning of the Company's last fiscal year, or are currently proposed, regarding

01

Item 9.01

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. 99.1 Press Release, dated February 29, 2024 SIGNATURE 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. Dated: February 29, 2024 TAPESTRY, INC. By: /s/ David E. Howard David E. Howard General Counsel and Secretary