Kontoor Brands (KTB) director defers fees into phantom stock units
Rhea-AI Filing Summary
Goldsmith Ashley reported acquisition or exercise transactions in this Form 4 filing.
Kontoor Brands director Ashley Goldsmith reported receiving 433.6827 phantom stock units tied to Kontoor Brands common stock. These units were granted as a fee deferral, where Goldsmith elected to defer $69.175 of director fees for each unit received.
The phantom stock units accrue under the Kontoor Brands Deferred Savings Plan For Non-Employee Directors and are designed to mirror the value of common shares on a 1-for-1 basis. They will be settled 100% in cash upon Goldsmith’s retirement and can grow over time through deemed reinvestment of dividend equivalents.
Following this grant and dividend equivalents, Goldsmith now holds a total of 3,062.9459 phantom stock units under the plan, including 271.3266 units received as dividend equivalents since the prior statement. This filing reflects compensation-related awards, not open-market share purchases or sales.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock-d | 433.683 | $69.175 | $30K |
Footnotes (1)
- Represents phantom stock units ("PSUs") accrued under the Kontoor Brands Deferred Savings Plan For Non-Employee Directors Plan ("Plan"), to be settled 100% in cash upon the reporting person's retirement. The number of PSUs acquired equals the amount of Directors' fees deferred by the reporting person divided by the fair market value (average of the high and low selling prices) per share on the date of deferral. The number of PSUs beneficially owned may vary over time due to deemed reinvestment of dividends. 1 for 1. There is no date that should appear in these columns. These columns are not applicable to this particular filing. Each PSU was acquired at the election of the Director by deferring $69.175 of fees per PSU. Includes 271.3266 shares received as dividend equivalents on PSUs since the last statement.