G-III Apparel enters new employment agreement with Vice Chairman Sammy Aaron reducing cash incentive, increasing equity

G III APPAREL GROUP LTD /DE/

New Employment Agreement replaces prior deal; base salary remains $1M/year.
Annual cash incentive restructured to $3M target (from 4% of pre-tax income), with max 2x and no bonus below 80% goal.
Annual equity grant of 225k shares (60% PSUs, 40% RSUs) with max $4.5M grant-date fair value.
One-time special bonus of $2M and retention bonus of $1M (payable Jan 31, 2025).
Term through January 31, 2025 with auto-renewal; company cites responsiveness to stockholder Say on Pay concerns.

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