secwatch.observer — SEC 8-K summary
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Issuer:     Kontoor Brands, Inc. (KTB)
CIK:        0001760965
Form:       8-K
Filed at:   2024-04-05T23:59:59+00:00
Accession:  0001760965-24-000026
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kontoor Brands enters separation agreement with departing EVP/Co-COO Christopher Waldeck
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- Christopher Waldeck stepped down as EVP, Co-COO, Global Brand President, Lee on March 19, 2024; will remain as non-executive through July 12, 2024.
- Severance of $1,125,000 (18 months base salary) plus pro-rata AIP award for 2024, payable in biweekly installments over 18 months.
- Waldeck will forfeit FY2024 equity grant; existing PSUs and RSUs vest per plan terms; continues financial counseling and exec health program through severance period.
- Agreement includes release of claims, 18-month non-compete, non-solicitation of customers and employees, and confidentiality obligations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1760965/000176096524000026/0001760965-24-000026-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1760965/000176096524000026/ktb-20240402.htm
  HTML page:      https://secwatch.observer/filing/0001760965-24-000026

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