---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-014400"
form_type: "8-K"
ticker: "GIII"
cik: "0000821002"
company_name: "G III APPAREL GROUP LTD /DE/"
filed_at: "2023-08-10T23:59:59+00:00"
generated_at: "2026-06-11T20:45:04.282644+00:00"
event_type: "leadership"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# G-III Apparel enters new CEO employment agreement with reduced cash incentive, PSUs tied to $30 stock target

## Summary
- New employment agreement with CEO Morris Goldfarb effective Aug 9, 2023; base salary $1.35M.
- Annual cash incentive target reduced to $4M (from 6% of pre-tax income) with performance metrics and hard dollar cap.
- Special equity grant of 700,000 PSUs with stock price target of $30, about double the price at negotiation start.
- Annual equity grants of 300,000 shares (60% PSUs, 40% RSUs) with max grant date fair value of $6M.
- Company cites responsiveness to shareholder Say on Pay concerns; 2015 Plan amended for actual-performance vesting on change of control.

## SEC filing metadata
- accession: 0001558370-23-014400
- form_type: 8-K
- ticker: GIII
- cik: 0000821002
- company_name: G III APPAREL GROUP LTD /DE/
- filed_at: 2023-08-10T23:59:59+00:00
- event_type: leadership
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 8.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/821002/000155837023014400/0001558370-23-014400-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/821002/000155837023014400/giii-20230809x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-014400
- JSON: https://secwatch.observer/filing/0001558370-23-014400.json
- Plain text: https://secwatch.observer/filing/0001558370-23-014400.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.