Tapestry awards CEO Joanne Crevoiserat $15M special equity grant tied to FY2028 EPS performance

TAPESTRY, INC.

Special grant of $15M target fair value to CEO, split equally between performance-based RSUs (PRSUs) and time-based RSUs.
PRSUs vest only if non-GAAP EPS target for fiscal year 2028 is achieved; time-based RSUs vest on third anniversary.
Full forfeiture if CEO retires or voluntarily leaves during vesting; pro-rata vesting only for involuntary termination without cause or voluntary with good reason.
Grant designed with stricter service requirements than standard awards, considering CEO's retirement eligibility in November 2025.
One-time award is not part of regular annual compensation; aims to incentivize durable growth and long-term retention.

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