Tapestry said on August 18, 2025 the Human Resources Committee approved a one-time special equity grant to Chief Executive Officer Joanne Crevoiserat with a target grant date fair value of $15 million. The company said the award was granted under the 2018 Stock Incentive Plan.

1. 01

   Tapestry said on August 18, 2025 the Human Resources Committee approved a one-time special equity grant to Chief Executive Officer Joanne Crevoiserat with a target grant date fair value of $15 million. The company said the award was granted under the 2018 Stock Incentive Plan.

2. 02

   Tapestry said the special grant is equally weighted between performance-based restricted stock units (PRSUs) and time-based restricted stock units (RSUs). The company said the PRSUs are subject to achievement of a target earnings per share on a non-GAAP basis for fiscal 2028, and both types will vest on the 3rd anniversary of the grant date.

3. 03

   Tapestry said the award will be forfeited in its entirety if Ms. Crevoiserat's service terminates during the vesting period due to her retirement, voluntary termination without Good Reason, or termination for cause. The company said she will receive pro-rata vesting in the event of involuntary termination without cause or voluntary termination with Good Reason, and the award will vest in its entirety in the event of her death or disability.

4. 04

   Tapestry said the award is intended to incentivize Ms. Crevoiserat to continue to deliver durable growth and shareholder value creation, and to foster long-term talent retention and succession planning. The company said the Committee also considered that Ms. Crevoiserat will achieve retirement treatment on her existing and upcoming annual equity grants in November 2025, upon reaching the age of 62 and over 5 years of service with the Company.

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