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V.F. CORPORATION

(VFC)
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V F CORP : Change in Directors or Principal Officers, Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K)

04/22/2021 | 06:57am EDT

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

On April 19, 2021, the Board of Directors of V.F. Corporation (the "Company") appointed Matt Puckett as Executive Vice President and Chief Financial Officer of the Company, effective at the end of May 2021 (the "Effective Date"). Mr. Puckett will succeed Scott A. Roe, who will retire as Executive Vice President and Chief Financial Officer of the Company, effective as of the Effective Date.

Mr. Puckett, 47, has been with the Company for 20 years. He joined the Company in 2001 as a Senior Accountant in the finance organization. Throughout the following decade, he held a series of finance roles with increasing responsibility. Immediately following the Company's 2011 acquisition of the Timberland® brand, he was appointed Chief Financial Officer of Timberland®. In 2015, he was named Chief Financial Officer of VF International, a role that took him to the Company's European headquarters in Stabio, Switzerland. Mr. Puckett returned to the U.S. in 2019 and has most recently served as the Company's Vice President, Global Financial Planning & Analysis.

In connection with Mr. Puckett's appointment, he will receive the following compensation package: (i) an annualized base salary of $600,000, effective as of the Effective Date, (ii) an annual incentive target equal to 100% of base salary, effective as of the Effective Date, and (iii) a long-term incentive plan annual equity award with a target value of $1,800,000, expected to be made in May 2021 concurrent with long-term incentive plan annual equity awards to the Company's other executive officers.

There is no arrangement or understanding between Mr. Puckett and any other person pursuant to which Mr. Puckett was appointed. There are no family relationships, as defined in Item 401 of Regulation S-K, between Mr. Puckett and any of the Company's executive officers or directors or persons nominated or chosen to become a director or executive officer. There are no transactions in which Mr. Puckett has an interest requiring disclosure under Item 404(a) of Regulation S-K.

In connection with Mr. Roe's retirement, the Company will pay him a one-time, lump-sum amount of $575,000, less applicable withholdings and deductions, within 30 days after the Effective Date.

Item 7.01 Regulation FD Disclosure.

A copy of the Company's press release, dated April 22, 2021, relating to the matters described above is furnished as Exhibit 99.1 to this Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.      Description

     99.1              V.F. Corporation press release dated April 22, 2021

   104           Cover Page Interactive Data File (embedded within the Inline
XBRL document)
--------------------------------------------------------------------------------
                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

  V.F. CORPORATION

  By: /s/ Laura C. Meagher
      Name: Laura C. Meagher
      Title: Executive Vice President, General Counsel & Secretary



Date: April 22, 2021

© Edgar Online, source Glimpses

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