SEC Form 4/A · accession 0000950142-16-003890
Capri Holdings Ltd · CPRI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
This is an amendment (Form 4/A). It replaces an earlier filing for the same period.
Reporting owner
Michael David Kors
Officer — Hon Chair & Chief Creative Off · Director
Period of report
Jun 1, 2016
Accepted (ET)
Jun 7, 2016 · 5:20 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001530721
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Ordinary shares, no par valueF1 | Jun 1, 2016 | M | 43,380 | — | A | 4,365,842 | D | |
| Ordinary shares, no par valueF2,F3 | Jun 1, 2016 | F | 22,273 | $45.55 | D | 4,343,569 | D | |
| Ordinary shares, no par valueF4 | Jun 2, 2016 | F | 3,888 | $47.51 | D | 4,339,681 | D | |
| Ordinary shares, no par valueF4,F5 | Jun 2, 2016 | F | 529 | $47.51 | D | 22,276 | I | Held by spouse |
| Ordinary shares, no par value | holding | — | — | — | 95,000 | I | Held by the Kors LePere Foundation |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance-based restricted share unitsF1 | $0.00 | Jun 1, 2016 | M | 28,920 | D | — | — | Ordinary shares, no par value | 43,380 | 0 | D |
| Employee share option (right to buy)F6 | $47.10 | holding | — | — | — | — | Jun 15, 2022 | Ordinary shares, no par value | 107,604 | 107,604 | D |
| Restricted share unitF6,F7,F8 | $0.00 | holding | — | — | — | — | — | Ordinary shares, no par value | 63,694 | 63,694 | D |
| Restricted share unitF6,F7,F8 | $0.00 | holding | — | — | — | — | — | Ordinary shares, no par value | 12,739 | 12,739 | I |
| Employee share option (right to buy)F9 | $94.45 | holding | — | — | — | — | Jun 2, 2021 | Ordinary shares, no par value | 89,316 | 89,316 | D |
| Employee share option (right to buy)F9 | $94.45 | holding | — | — | — | — | Jun 2, 2021 | Ordinary shares, no par value | 5,104 | 5,104 | I |
| Employee share option (right to buy)F10 | $2.6316 | holding | — | — | — | — | Apr 16, 2018 | Ordinary shares, no par value | 246,590 | 246,590 | I |
| Employee share option (right to buy)F11 | $2.6316 | holding | — | — | — | — | Oct 25, 2020 | Ordinary shares, no par value | 165,765 | 165,765 | I |
| Employee share option (right to buy)F10 | $20.00 | holding | — | — | — | — | Dec 14, 2018 | Ordinary shares, no par value | 387,597 | 387,597 | D |
| Employee share option (right to buy)F10 | $20.00 | holding | — | — | — | — | Dec 14, 2018 | Ordinary shares, no par value | 38,760 | 38,760 | I |
| Employee share option (right to buy)F12 | $62.24 | holding | — | — | — | — | Jun 3, 2020 | Ordinary shares, no par value | 84,219 | 84,219 | D |
| Employee share option (right to buy)F12 | $62.24 | holding | — | — | — | — | Jun 3, 2020 | Ordinary shares, no par value | 12,031 | 12,031 | I |
Explanation of responses
- F1Represents performance-based restricted share units ("PSRUs") granted to the reporting person on June 3, 2013. The PSRUs vested on June 1, 2016 upon achievement of a pre-established cumulative net earnings goal for the applicable period resulting in the reporting person earning 150% of the shares originally subject to the award.
- F10Immediately exercisable.
- F11Granted on October 25, 2010 pursuant to the Amended and Restated Michael Kors (USA), Inc. Stock Option Plan. These share options vest in full 10-years from the date of grant if the Company's shareholder net equity has increased by at least 20% per annum during such 10-year period. These share options may also vest on an accelerated basis if the pre-established annual performance goal (tied to annual divisional pre-tax profit) for the year has been met, in each case, subject to the grantee's continued employment with the Company through the vesting date. 129,178 share options are immediately exercisable. If the annual performance goal is attained for Fiscal 2016, then the remaining 36,587 unvested share options will vest on or about the date the audit of the financial statements of the Company for the fiscal year ended April 2, 2016 is completed.
- F12Granted on June 3, 2013 pursuant to the Incentive Plan. 50% of these share options are immediately exercisable. The remaining unvested share options will vest 25% each year on June 3, 2016 and 2017, respectively, subject to grantee's continued employment with the Company through the vesting date.
- F2The Form 4, as originally filed, has been amended because it incorrectly understated the number of shares withheld to cover taxes.
- F3Represents shares withheld by the Company to cover tax withholding obligations upon the vesting of the PSRUs.
- F4Represents shares withheld by the Company to cover tax withholding obligations upon the vesting of restricted shares.
- F5The Form 4, as originally filed, has been amended because it incorrectly overstated the number of shares beneficially owned by the reporting person's spouse following the reported transaction.
- F6Granted on June 15, 2015 pursuant to the Michael Kors Holdings Limited Omnibus Incentive Plan (the "Incentive Plan"). These securities will vest 25% each year on June 15, 2016, 2017, 2018, and 2019, respectively, subject to grantee's continued employment with the Company through the vesting date.
- F7The RSUs do not expire.
- F8Settlement of this award will be satisfied through the issuance of one ordinary share for each vested RSU.
- F9Granted on June 2, 2014 pursuant to the Incentive Plan. 25% of these share options are immediately exercisable. The remaining unvested share options will vest 25% each year on June 2, 2016, 2017 and 2018, respectively, subject to grantee's continued employment with the Company through the vesting date.