secwatch.observer — SEC 8-K summary
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Issuer:     TAPESTRY, INC. (TPR)
CIK:        0001116132
Form:       8-K
Filed at:   2025-08-20T23:59:59+00:00
Accession:  0001140361-25-032093
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1116132/000114036125032093/0001140361-25-032093-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1116132/000114036125032093/ef20054230_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-25-032093

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer