G-III Apparel Group (GIII) CEO moves 1M shares out of 2024 GRATs
Rhea-AI Filing Summary
G-III Apparel Group CEO and director Morris Goldfarb reported several internal share transfers of company common stock dated December 10, 2025. He moved 64,083 shares at $0 per share from his direct holdings to The Morris and Arlene Goldfarb Family Foundation, with his direct stake at 2,988,081 shares immediately after that transfer.
He then withdrew 500,000 shares from each of the Morris Goldfarb 2024 GRAT JG and Morris Goldfarb 2024 GRAT LF grantor retained annuity trusts in exchange for promissory notes. The table shows each 500,000-share transaction at $31.21 per share, and the explanation states that each promissory note’s principal equals the average of that day’s high and low sales prices multiplied by the withdrawn shares. In total, 1,000,000 shares moved from the 2024 GRATs into his direct ownership, which totaled 3,988,081 shares after these transactions, alongside additional indirect holdings through family trusts, the family foundation, a family partnership and his spouse.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Common Stock, Par Value $.01 Per Share | 64,083 | $0.00 | -- |
| Gift | Common Stock, Par Value $.01 Per Share | 64,083 | $0.00 | -- |
| Other | Common Stock, Par Value $.01 Per Share | 500,000 | $31.21 | $15.61M |
| Other | Common Stock, Par Value $.01 Per Share | 500,000 | $31.21 | $15.61M |
| Other | Common Stock, Par Value $.01 Per Share | 500,000 | $31.21 | $15.61M |
| Other | Common Stock, Par Value $.01 Per Share | 500,000 | $31.21 | $15.61M |
| holding | Common Stock, Par Value $.01 Per Share | -- | -- | -- |
| holding | Common Stock, Par Value $.01 Per Share | -- | -- | -- |
| holding | Common Stock, Par Value $.01 Per Share | -- | -- | -- |
| holding | Common Stock, Par Value $.01 Per Share | -- | -- | -- |
| holding | Common Stock, Par Value $.01 Per Share | -- | -- | -- |
| holding | Common Stock, Par Value $.01 Per Share | -- | -- | -- |
Footnotes (1)
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FAQ
What insider transactions did G-III (GIII) CEO Morris Goldfarb report?
Morris Goldfarb reported multiple transactions in G-III common stock on December 10, 2025. He transferred 64,083 shares at $0 per share from his direct holdings to The Morris and Arlene Goldfarb Family Foundation and executed two 500,000-share withdrawals from 2024 grantor retained annuity trusts, with those shares recorded as acquired into his direct ownership.
What does the explanation say about the promissory notes used in the G-III (GIII) GRAT transactions?
The explanation states that, effective December 10, 2025, Mr. Goldfarb withdrew 500,000 shares of common stock from each of the Morris Goldfarb 2024 GRAT JG and 2024 GRAT LF in exchange for promissory notes, and that the principal amount of each note equals the average of the high and low sales prices of G-III common stock on that date, multiplied by the number of withdrawn shares.