Kontoor Brands (NYSE: KTB) details severance plan and $0.53 dividend
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Kontoor Brands, Inc. adopted a new Executive Severance Plan for senior leaders and confirmed its regular quarterly dividend. The plan covers the CEO, executive vice presidents and other senior executives, providing base salary continuation, subsidized COBRA health coverage and a pro rated annual bonus after certain qualifying terminations.
For a Qualifying Termination, the CEO may receive 24 months of base salary and 18 months of COBRA coverage, executive vice presidents 18 and 12 months, and other senior leaders 12 and 9 months, respectively. Separately, the board declared a quarterly cash dividend of $0.53 per share, payable March 20, 2026, to shareholders of record on March 10, 2026.
Positive
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Negative
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8-K Event Classification
3 items: 5.02, 8.01, 9.01
3 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): February 12, 2026
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 12, 2026, the Talent and Compensation Committee of the Board of Directors of Kontoor Brands, Inc. (the “Company”) approved and adopted the Kontoor Brands, Inc. Executive Severance Plan (the “Plan”), which is intended to provide eligible employees, including the Company’s named executive officers, with certain compensation and benefits in the event the employee experiences a Qualifying Termination (as defined in the Plan) outside of the context of a change in control.
Under the Plan, upon an eligible employee’s Qualifying Termination, subject to the terms and conditions of the Plan, the employee will be entitled to severance benefits consisting of base salary continuation, eligibility for subsidized COBRA coverage and a pro rated annual bonus based on actual performance. The length of base salary continuation and subsidized COBRA coverage will vary according to the tiers shown below:
| Tier of Severance Benefit | Base Salary Continuation Period | COBRA Coverage Period | ||||||||||||
| Tier 1 (Chief Executive Officer) | 24 months | 18 months | ||||||||||||
| Tier 2 (Executive Vice Presidents) | 18 months | 12 months | ||||||||||||
| Tier 3 (Senior Vice President/Other) | 12 months | 9 months | ||||||||||||
A Qualifying Termination is defined for purposes of the Plan as a separation from service that is either a termination by the Company without Cause (as defined in the Plan) or by the eligible employee for Good Reason (as defined in the Plan).
“Cause” is defined in the Plan generally to include an eligible employee’s (a) failure, neglect or refusal to perform lawful employment duties (other than due to disability), (b) commission of certain willful, intentional or grossly negligent acts, (c) violation or failure to comply in any material respect with certain rules or policies, (d) commission of an act constituting a felony or misdemeanor involving fraud, theft, deceit or any other form of dishonesty, (e) misappropriation or embezzlement of Company property or (f) breach of any material provision of any applicable agreement with the Company or its affiliates.
“Good Reason” is defined in the Plan generally to include (1) a material reduction in the eligible employee’s authority or responsibilities, (2) a material diminution in the budget for which the employee is responsible, (3) a material reduction in base salary, (4) a material change in the geographic location where the employee is to provide services; or (5) a material breach of any agreement between the employee and the Company on the part of the Company.
To be eligible for benefits under the Plan, an eligible employee must execute a participation agreement prior to a Qualifying Termination, incur a Qualifying Termination that does not entitle the employee to receive benefits under a Change in Control Agreement, remain employed and continue adequately to perform job responsibilities through the job-end date and provide and comply with a release as described in the Plan, including compliance with applicable restrictive covenants. An otherwise eligible employee will not be eligible to receive benefits under the Plan if the employee has the opportunity to continue in employment in the same or in a qualifying alternative position with the Company or an affiliate or if the employee has violated any provision of the Plan.
The foregoing description of the Plan does not purport to be complete and is qualified in its entirety by reference to the full text of the Plan, which is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference in its entirety.
Item 8.01. Other Events.
On February 13, 2026, Kontoor Brands, Inc. issued a press release announcing that its Board of Directors declared a regular quarterly cash dividend of $0.53 per share of its common stock, payable on March 20, 2026, to shareholders of record at the close of business on March 10, 2026. The press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | ||||
10.1 | Kontoor Brands, Inc. Executive Severance Plan | ||||
99.1 | Press release issued by Kontoor Brands, Inc., dated February 13, 2026, announcing the quarterly dividend. | ||||
| 104 | Cover Page Interactive Data File - The cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. | ||||
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.
| KONTOOR BRANDS, INC. | |||||||||||
| Date: February 13, 2026 | By: | /s/ Thomas L. Doerr, Jr. | |||||||||
| Name: | Thomas L. Doerr, Jr. | ||||||||||
| Title: | Executive Vice President, Chief Legal Officer & Secretary | ||||||||||
Exhibit 99.1
KONTOOR BRANDS DECLARES QUARTERLY DIVIDEND
GREENSBORO, N.C. - February 13, 2026 - Kontoor Brands, Inc. (NYSE: KTB) today announced that its Board of Directors has declared a regular quarterly cash dividend of $0.53 per share of its common stock. The cash dividend will be payable on March 20, 2026, to shareholders of record at the close of business March 10, 2026.
About Kontoor Brands
Kontoor Brands, Inc. (NYSE: KTB) is a portfolio of three of the world’s most iconic lifestyle, outdoor and workwear brands: Wrangler®, Lee® and Helly Hansen®. Kontoor Brands is a purpose-led organization focused on leveraging its global platform, strategic sourcing model and best-in-class supply chain to drive brand growth and deliver long-term value for its stakeholders. For more information about Kontoor Brands, please visit www.KontoorBrands.com.
Contacts
Investors:
Michael Karapetian, (336) 332-4263
Vice President, Corporate Development, Strategy, and Investor Relations
Michael.Karapetian@kontoorbrands.com
or
Media:
Julia Burge, (336) 332-5122
Senior Director, Corporate Communications
Julia.Burge@kontoorbrands.com
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FAQ
What did Kontoor Brands (KTB) disclose in its latest 8-K filing?
Kontoor Brands disclosed a new Executive Severance Plan for senior leaders and announced a regular quarterly dividend of $0.53 per share. The filing outlines severance terms by executive tier and confirms dividend record and payment dates for existing shareholders.
How does Kontoor Brands Executive Severance Plan work for the CEO and top executives?
Under the new plan, the CEO can receive 24 months of base salary and 18 months of COBRA coverage after a Qualifying Termination. Executive vice presidents receive 18 and 12 months, while other senior leaders receive 12 and 9 months of salary continuation and COBRA coverage.
What is a Qualifying Termination under Kontoor Brands Executive Severance Plan?
A Qualifying Termination generally means the company terminates an eligible employee without Cause or the employee resigns for Good Reason. These terms cover serious issues like material pay cuts, reduced responsibilities or relocation, as detailed in the plans definitions of Cause and Good Reason.
What dividend did Kontoor Brands (KTB) declare and when will it be paid?
Kontoor Brands declared a regular quarterly cash dividend of $0.53 per share on its common stock. The dividend will be paid on March 20, 2026, to shareholders of record at the close of business on March 10, 2026.
Which employees are eligible for Kontoor Brands new Executive Severance Plan?
The plan covers eligible employees including the companys named executive officers. To receive benefits, they must sign a participation agreement, experience a Qualifying Termination, remain employed through the job-end date and comply with a release and applicable restrictive covenants described in the plan.
Does Kontoor Brands severance plan replace change-in-control benefits?
The new plan applies to Qualifying Terminations outside a change-in-control context. Employees are not eligible for plan benefits if a Qualifying Termination would entitle them to payments under a separate Change in Control Agreement, so it operates alongside, not instead of, such arrangements.