Kontoor Brands (KTB) CEO gets 51,994-share award, uses shares for tax
Rhea-AI Filing Summary
Kontoor Brands, Inc. reported that Chairman, President and CEO Scott H. Baxter received a grant of 51,994 shares of common stock on April 1, 2026 as a share-based award. The award was recorded at $0.00 per share, reflecting compensation rather than a market purchase.
On the same date, a total of 21,947 shares of common stock were withheld at $69.18 per share to satisfy tax withholding obligations on settled restricted stock units, described as payment of tax liability by delivering securities. After these transactions, Baxter held 261,092.128 shares directly. He also reported indirect holdings of common stock through vehicles including "2025 GRAT #1," "2026 GRAT #1," a trust, and his son. Footnotes state that common stock amounts include restricted stock units and 784.289 shares received as dividend equivalents since the last statement.
Positive
- None.
Negative
- None.
Insights
CEO received a stock award while shares were withheld only to cover taxes.
Kontoor Brands’ CEO Scott H. Baxter was granted 51,994 shares of common stock as equity compensation at a stated price of $0.00 per share. This is a non-cash award, recorded as stock-based compensation rather than an open-market share purchase.
To cover tax obligations on settled restricted stock units, 21,947 shares were withheld at $69.18 per share, classified as tax-withholding dispositions rather than market sales. Following these entries, Baxter directly owned 261,092.128 shares, with additional indirect holdings through GRATs, a trust, and a family account.
Overall, these transactions look like routine equity compensation and related tax withholding, not discretionary buying or selling, so they do not materially change the investment view on Kontoor Brands, Inc..
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 51,994 | $0.00 | -- |
| Tax Withholding | Common Stock | 7,899 | $69.18 | $546K |
| Tax Withholding | Common Stock | 6,979 | $69.18 | $483K |
| Tax Withholding | Common Stock | 7,069 | $69.18 | $489K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Represents the number of shares withheld to satisfy applicable tax withholding obligations on settled restricted stock units. Includes 784.289 shares received as dividend equivalents on restricted stock units since the last statement. Common stock includes restricted stock units.