Director Robert Lynch defers fees into 723 phantom units at Kontoor Brands (NYSE: KTB)
Rhea-AI Filing Summary
Lynch Robert reported acquisition or exercise transactions in this Form 4 filing.
Kontoor Brands director Robert Lynch elected to receive 722.8045 phantom stock units instead of cash director fees, as shown in a new Form 4. These units are valued at $69.175 per PSU, based on the average market price of Kontoor Brands stock on the deferral date.
The phantom stock units mirror Common Stock on a 1-for-1 basis and are accrued under the Kontoor Brands Deferred Savings Plan for Non-Employee Directors. They will be settled 100% in cash upon his retirement, and the total phantom units credited to him increased to 9,269.8223 units, including dividend equivalents.
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Insights
Director Lynch deferred fees into 722.8 phantom units, a routine cash-settled compensation choice with no open-market trading.
This Form 4 shows Robert Lynch taking his non-employee director fees in phantom stock units rather than cash. He acquired 722.8045 PSUs at an allocation value of $69.175 per unit, tied to Kontoor Brands’ share price on the deferral date.
The units are credited under the company’s Deferred Savings Plan for Non-Employee Directors and will be settled entirely in cash upon retirement, not through stock delivery. His phantom balance increased to 9,269.8223 units, including 66.7438 units from dividend equivalents. This is standard, compensation-related activity, not a market signal about the stock.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock-d | 722.805 | $69.175 | $50K |
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 66.7438 shares received as dividend equivalents on PSUs since the last statement.