[Form 4] TAPESTRY, INC. Insider Trading Activity

Rhea-AI Filing Summary

Insider exercise and offsetting share sales by a Tapestry director. Alan Ka Ming Lau exercised stock options on 09/11/2025, acquiring a total of 16,313 common shares through two option exercises: 10,302 shares at a $27.33 exercise price and 6,011 shares at a $41.29 exercise price. On the same date he sold a matching 16,313 shares in several dispositions at prices ranging from $106.12 to $106.23. The filer states the shares were sold to pay the cost of, and fees associated with, the option exercises. Post-transaction beneficial ownership counts reported on the form vary by line item, with reported shareholdings after transactions shown between 8,153 and 24,466 shares depending on the specific entry. The filing was signed under power of attorney by the assistant corporate secretary.

Positive

• Full disclosure of option exercises and share sales by the reporting director
• Proceeds exceeded exercise prices, indicating capture of intrinsic value on exercise
• Explanation provided that sales were to cover exercise costs and fees

Negative

• Insider selling of 16,313 shares on the same date as the exercise (may be viewed negatively by some investors)

Insights

Securities/Equity Analyst

TL;DR: Routine option exercise with immediate share sales to cover exercise cost; not an earnings or governance shock.

The reported transactions show a director exercising vested options and simultaneously selling the resulting shares to cover exercise costs and associated fees. The total exercised equals the total sold (16,313 shares), indicating a cashless or sell-to-cover execution rather than a new accumulation of long-term shares. Prices realized ($106.12–$106.23) exceed the exercise prices ($27.33 and $41.29), so the director captured intrinsic value on exercise. For investors, this is a disclosure of insider liquidity activity but not a material corporate event.

Corporate Governance Expert

TL;DR: Insider complied with Section 16 disclosure; sales were explained as funding exercises, a common practice.

The Form 4 clearly documents option exercises and contemporaneous sales and includes an explanation that shares were sold to pay exercise costs and fees. The filing was signed by an authorized officer under power of attorney, meeting procedural disclosure requirements. Absent additional context (e.g., an undisclosed plan, large percentage of holdings sold, or suspicious timing), this filing reads as routine insider monetization rather than a red flag for governance failure.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Lau Alan Ka Ming

(Last) (First) (Middle)

10 HUDSON YARDS

(Street)

NEW YORK NY 10001

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
TAPESTRY, INC. [ TPR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/11/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/11/2025		M		10,302	A	$27.33	18,455	D
Common Stock	09/11/2025		M		6,011	A	$41.29	24,466	D
Common Stock(1)	09/11/2025		F		2,340	D	$106.12	22,126	D
Common Stock(1)	09/11/2025		F		2,653	D	$106.23	19,473	D
Common Stock	09/11/2025		S		3,671	D	$106.12	15,802	D
Common Stock	09/11/2025		S		7,649	D	$106.23	8,153	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option	$41.29	09/11/2025		M			6,011	04/12/2024	04/12/2033	Common Stock	6,011	$0.0000	0.0000	D
Stock Option	$27.33	09/11/2025		M			10,302	11/02/2024	11/02/2033	Common Stock	10,302	$0.0000	0.0000	D

Explanation of Responses:

1. These shares were sold to pay the cost of, and the fees associated with, the exercise of the derivative securities described above.

	/s/ Emily S. Zahler, Assistant Corporate Secretary, pursuant to a power of attorney filed with the Commission	09/12/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transactions did Alan Ka Ming Lau report on Form 4 for TPR?

He reported exercising 16,313 stock options (10,302 at $27.33 and 6,011 at $41.29) and selling 16,313 shares on 09/11/2025.

Why were the shares sold after exercise according to the filing?

The filing states the shares were sold to pay the cost of, and the fees associated with, the exercise of the derivative securities.

At what prices were the shares sold?

The reported sale prices ranged from $106.12 to $106.23 per share.

Did the filing indicate any change in beneficial ownership after the transactions?

Yes; the form reports various post-transaction beneficial ownership amounts by line item, ranging from 8,153 to 24,466 shares depending on the entry.

Who signed the Form 4 filing?

The form was signed under power of attorney by Emily S. Zahler, Assistant Corporate Secretary.