Coach, Inc. (NYSE:COH) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As previously announced in a Current Report on Form 8-K filed on April 6, 2017
with the U.S. Securities and Exchange Commission
(the “SEC”), Andre Cohen
, the President, North America
and Global Marketing of Coach, Inc.
(the “Company”), notified the Company on April 3, 2017
that he would be resigning. Mr. Cohen’s last day with the Company will be July 1, 2017
, the last day of the Company’s fiscal year (“fiscal year 2017”).
On June 20, 2017
, the Human Resources Committee
of the Coach Board of Directors (the “Committee”) determined that Mr. Cohen
will receive his earned bonus for fiscal year 2017, based on the actual achievement of the performance criteria established by the Committee, on the date that the Company pays bonuses for fiscal year 2017 to other employees of the Company, subject to Mr. Cohen
abiding by the terms, conditions and post-employment restrictions of his employment letter with the Company. In addition, the Committee has determined that the equity awards granted to Mr. Cohen
on August 14, 2014
, the terms of which are disclosed in the Company’s Proxy Statement filed with the Securities and Exchange Commission
on September 25, 2015
, under “Compensation Discussion and Analysis-Fiscal Year 2015 Compensation-Long Term Incentives,” will remain outstanding following Mr. Cohen’s last day with the Company and become eligible to pro-rata vest through his last day of employment on August 14, 2017
, in accordance with the terms and conditions of the award agreements, including the achievement of any performance conditions for performance restricted stock units. Mr. Cohen
will have 90 days following the vesting date to exercise any outstanding options from these awards.
About Coach, Inc. (NYSE:COH) Coach, Inc.
(Coach) is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. Its segments include North America
, International and Stuart Weitzman. The North America
segment includes sales of Coach brand products to North American customers through Coach-operated stores (including the Internet
) and sales to North American wholesale customers. The International segment operates department store concession shop-in-shop locations and retail and outlet stores, as well as e-commerce Websites. The Stuart Weitzman segment includes sales across the world generated by the Stuart Weitzman brand, primarily through department stores in North America
and international locations, and within Stuart Weitzman operated stores (including the Internet
) in the United States
. Its product offerings include women’s and men’s bags, ready-to-wear, including outerwear, watches, fragrance and jewelry.
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