TPR Form 4: Todd Kahn Granted 10,009 RSUs; 27,213 Options Recorded
Rhea-AI Filing Summary
Todd Kahn, CEO and Brand President of Tapestry, Inc. (TPR) reported stock award and option activity. On 08/18/2025 he was issued 10,009 restricted stock units (RSUs) under the company's Stock Incentive Plan at a reported price of $99.91, bringing his beneficial ownership to 126,635 shares immediately following that grant. Those RSUs vest in four equal annual tranches on each anniversary beginning 08/18/2026 through 08/18/2029. A related stock option grant of 27,213 options (1-for-1 underlying shares) with an exercise price of $99.91 was also recorded, exercisable beginning 08/18/2026 and expiring 08/18/2035. On 08/19/2025, 1,665 shares were withheld to pay taxes related to RSU vesting, reducing his beneficial ownership to 124,970 shares. The Form 4 was signed pursuant to a power of attorney on 08/20/2025.
Positive
- Material grants recorded: 10,009 RSUs and 27,213 stock options were granted, increasing alignment of CEO compensation with shareholder value.
- Retention-focused vesting: RSUs vest in four equal annual tranches from 08/18/2026 to 08/18/2029, promoting multi-year service.
Negative
- Share withholding: 1,665 shares were withheld on 08/19/2025 to pay taxes, reducing beneficial ownership to 124,970 shares.
Insights
TL;DR: CEO received compensation via RSUs and long-dated options, with a multi-year vesting schedule indicating retention-focused awards.
The reported 08/18/2025 grant includes 10,009 RSUs and 27,213 stock options tied to the same 1-for-1 conversion into common shares. The RSUs vest in four equal annual tranches beginning August 2026, which staggers potential share issuance and aligns executive incentives with multi-year performance. The option exercisability begins one year after grant with a ten-year term, indicating a standard long-term compensation structure. The withholding of 1,665 shares on 08/19/2025 to satisfy tax obligations modestly reduced reported beneficial ownership to 124,970 shares. Overall, these transactions are routine executive compensation actions rather than operational disclosures.
TL;DR: Grants follow customary incentive-plan mechanics; vesting and withholding are consistent with retention and tax compliance practices.
The Form 4 shows grants issued under the company's Stock Incentive Plan and documents service-based vesting over four years. The conversion of RSUs on a 1-for-1 basis and the simultaneous documentation of option terms are clearly stated. The filing was executed via a power of attorney, a common administrative practice. There are no disclosures of option repricing, accelerated vesting, or other governance exceptions in the provided text.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 1,665 | $97.92 | $163K |
| Grant/Award | Stock Option | 27,213 | $0.00 | -- |
| Grant/Award | Common Stock | 10,009 | $99.91 | $1000K |
Footnotes (1)
- These securities were acquired in the form of unvested restricted stock units issued under the Issuer's Stock Incentive Plan. These securities will vest in four equal tranches on the first, second, third and fourth anniversaries of the date of grant. The first tranch will vest on August 18, 2026, the second on August 18, 2027, the third on August 18, 2028 and the fourth on August 18, 2029. These shares were withheld to pay the taxes in connection with the vesting of restricted stock units. These securities were issued under the Issuer's Stock Incentive Plan. These securities will convert on a 1-for-1 basis into shares of the issuer's common stock. These service-based securities vest in four equal installments on the first, second, third and fourth anniversaries of the date of grant. The first tranch will vest on August 18, 2026, the second on August 18, 2027, the third on August 18, 2028 and the fourth on August 18, 2029.
