secwatch.observer — SEC 8-K summary
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Issuer:     G III APPAREL GROUP LTD /DE/ (GIII)
CIK:        0000821002
Form:       8-K
Filed at:   2022-03-31T23:59:59+00:00
Accession:  0001558370-22-004941
Event type: other_material
Sentiment:  positive
Materiality: 0.55
Item codes: 1.01, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CEO and President voluntarily cut FY2022 cash bonuses by 56% and 35%, receive restricted stock
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- CEO Morris Goldfarb's cash bonus capped at $7.5M (down from $17.2M); receives 415,704 shares with 3-year holding restriction.
- President Sammy Aaron's cash bonus capped at $7.25M (down from $11.2M); receives 152,235 shares with 1-year holding restriction.
- Changes respond to shareholder outreach over bonus size; shift to stock-based compensation improves alignment.
- 2015 Long-Term Incentive Plan amended to allow stock withholding for taxes without vesting.
- Restriction periods last 3 years (Goldfarb) and 1 year (Aaron), lapsed only on death, disability, or change in control.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/821002/000155837022004941/0001558370-22-004941-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/821002/000155837022004941/giii-20220329x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-22-004941

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