secwatch.observer — SEC 8-K summary
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Issuer:     Capri Holdings Ltd (CPRI)
CIK:        0001530721
Form:       8-K
Filed at:   2022-03-07T23:59:59+00:00
Accession:  0001530721-22-000022
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Michael Kors CEO Joshua Schulman departs; John Idol remains Capri Chairman & CEO
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- Schulman departure effective March 7; severance includes $2.6M salary and $5.2M bonus over 2 years.
- Idol signs new employment agreement; base salary reinstated to $1.35M from FY2023 (was $1.215M due to COVID-19).
- Idol's annual cash incentive targets: 300% base for FY22, 200% for FY23+; max 400% of base.
- Schulman's non-compete reduced to 6 months expiring Sept 2, 2022; mutual non-disparagement included.
- Idol retains benefits: $50K/yr life insurance, automobile/driver, corporate aircraft use.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1530721/000153072122000022/0001530721-22-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1530721/000153072122000022/cpri-20220307.htm
  HTML page:      https://secwatch.observer/filing/0001530721-22-000022

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