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4-Traders Homepage  >  Equities  >  Nyse  >  Tapestry Inc    TPR

TAPESTRY INC (TPR)
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TAPESTRY, INC. : Change in Directors or Principal Officers, Submission of Matters to a Vote of Security Holders (form 8-K)

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11/13/2017 | 10:34pm CEST

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

At the 2017 Annual Meeting of Stockholders (the "2017 Annual Meeting") of Tapestry, Inc. (the "Company") held on November 9, 2017, the Company's stockholders, upon the recommendation of the Board of Directors (the "Board"), approved the Amended and Restated Coach, Inc. 2010 Stock Incentive Plan (Amended and Restated as of September 20, 2017) (the "Amended Stock Incentive Plan"), which was previously adopted by the Board, subject to approval by the Company's stockholders. The Amended Stock Incentive Plan (i) authorizes 7,500,000 additional shares of Tapestry's common stock for issuance, increasing the number of shares available for awards from 54,900,000 to 62,400,000 and (ii) includes additional language confirming the Company's current practice that no dividends or dividend equivalents will be payable with respect to any shares underlying an award until the award (or applicable part of the award) has vested.

A more detailed summary of the Amended Stock Incentive Plan and can be found in the Company's Proxy Statement for the 2017 Annual Meeting filed with the U.S. Securities and Exchange Commission on September 29, 2017 (the "Proxy Statement"). The foregoing and the summary in the Proxy Statement are not complete summaries of the terms of the Amended Stock Incentive Plan and are qualified by reference to the text of the Amended Stock Incentive Plan, which is filed as Appendix B to the Proxy Statement and incorporated by reference as Exhibit 10.2 to the Company's Quarterly Report on Form 10-Q for the Quarter ended September 30, 2017, which was filed with the SEC on November 9, 2017.

Item 5.07 Submission of Matters to a Vote of Security Holders.

On November 9, 2017, the Company held its 2017 Annual Meeting of Stockholders. Stockholders were asked to vote with respect to seven proposals. A total of 253,460,714 votes were cast as follows:

Proposal Number 1 - Election of Directors: Each of the candidates listed received the number of votes set forth next to his/her respective name. In addition, there were 23,521,010 broker non-votes for each candidate with respect to this proposal.

Name               Votes For  Votes Against Votes Abstaining

David Denton 228,800,024 547,450 592,230 Andrea Guerra 228,788,777 559,034 591,893 Susan Kropf 226,578,392 2,771,949 589,363 Annabelle Yu Long 228,149,290 1,199,615 590,799 Victor Luis 228,502,278 841,335 596,091 Ivan Menezes 227,757,010 1,592,158 590,536 William Nuti 202,190,479 27,155,611 593,614 Jide Zeitlin 227,111,319 2,229,149 599,236

--------------------------------------------------------------------------------

Proposal Number 2 - Ratification of the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for fiscal year 2018:

 Votes For    Votes Against   Votes Abstaining   Broker Non-votes
251,009,731     1,736,877         714,106               0


Proposal Number 3 - Approval, on a non-binding advisory basis, of the Company's executive compensation as disclosed in the Proxy Statement for the 2017 Annual Meeting:

 Votes For    Votes Against   Votes Abstaining   Broker Non-votes
224,523,035     4,127,336        1,289,333          23,521,010


Proposal Number 4 - Approval, on a non-binding advisory basis, of the frequency of the advisory vote on the Company's executive compensation as disclosed in the Proxy Statement for the 2017 Annual Meeting:

1 Year 2 Year 3 Years Votes Abstaining Broker Non-votes 212,689,388 536,682 16,282,258 431,376

           23,521,010


After considering these results, and consistent with its own recommendation, the Board has determined to continue to provide the Company's stockholders with an annual advisory vote to approve the Company's executive compensation until the next vote on the frequency of such advisory votes.

Proposal Number 5 - Approval of the Amended and Restated Coach, Inc. 2010 Stock Incentive Plan (Amended and Restated as of September 20, 2017):

Votes For Votes Against Votes Abstaining Broker Non-votes 203,823,182 25,559,868 556,654

           23,521,010


Proposal Number 6 - Consideration of proposal entitled "Net-Zero Greenhouse Gas
Emissions":

Votes For    Votes Against   Votes Abstaining   Broker Non-votes
18,923,114    208,266,468       2,750,122          23,521,010


Proposal Number 7 - Consideration of proposal regarding risk disclosure on the
Company's use of fur:

Votes For    Votes Against   Votes Abstaining   Broker Non-votes
11,497,858    208,659,513       9,782,333          23,521,010

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses

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