Tapestry, Inc. Announces Board and Executive Changes

Ticker: TPR · Form: 8-K · Filed: 2025-08-20T00:00:00.000Z

Sentiment: neutral

Topics: management-change, board-of-directors, executive-compensation

TL;DR

Tapestry board shakeup and exec comp changes filed.

AI Summary

Tapestry, Inc. announced on August 18, 2025, changes related to its board of directors and executive compensation. The filing details the departure of certain officers, the election of new directors, and updates to compensatory arrangements for key executives.

Why It Matters

Changes in a company's board of directors and executive compensation can signal shifts in strategy, governance, or future performance expectations.

Risk Assessment

Risk Level: medium — Changes in leadership and compensation can indicate underlying issues or strategic shifts that may impact the company's future performance.

Key Players & Entities

FAQ

What specific roles have seen departures of officers?

The filing indicates the departure of certain officers, but does not specify the exact roles in the provided text.

Who are the newly elected directors?

The filing mentions the election of directors but does not list their names in the provided text.

What are the key changes in compensatory arrangements?

The filing notes updates to compensatory arrangements for certain officers, but the specifics are not detailed in the provided text.

When was Tapestry, Inc. incorporated?

Tapestry, Inc. was incorporated in Maryland.

What is the principal business address of Tapestry, Inc.?

The principal business address is 10 Hudson Yards, New York, NY 10001.

Filing Stats: 795 words · 3 min read · ~3 pages · Grade level 12.5 · Accepted 2025-08-20 17:01:03

Key Financial Figures

Filing Documents

02

Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers. (e) On August 18, 2025, the Human Resources Committee (the "Committee") of the Board of Directors (the "Board") of Tapestry, Inc. (the "Company") approved a special equity grant to Joanne Crevoiserat, the Company's Chief Executive Officer ("CEO") with a target grant date fair value of $15 million. This one-time special equity grant (the "Special Grant") was awarded pursuant to the Company's 2018 Stock Incentive Plan. The Special Grant is equally weighted between performance-based restricted stock units ("PRSUs") under which vesting is subject to achievement of a target earnings per share on a non-GAAP basis for the Company's fiscal year 2028, and time-based restricted stock units ("RSUs"), both of which will vest on the third anniversary of the grant date, as further described below. The Special Grant is intended to incentivize Ms. Crevoiserat to continue to deliver durable growth and shareholder value creation at Tapestry, and to foster long-term talent retention and succession planning. The Committee determined that awarding the Special Grant is in the best interests of the Company and its shareholders and that the amount and terms of the award described herein are appropriate. Among other things, the Committee considered Ms. Crevoiserat's sustained high performance, strategic leadership and proven record of shareholder value creation. The Committee also considered that Ms. Crevoiserat will achieve retirement treatment on her existing and upcoming annual equity grants in November 2025, upon reaching the age of 62 and over five years of service with the Company. The Special Grant is subject to continued service requirements that are more restrictive than those applicable to our standard equity awards. Specifically, the Special Grant is subject to forfeiture in its entirety if Ms. Crevoiserat's service terminates during the vesting period due to he

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