Tapestry (TPR) Proxy Filing summary

Executive summary

• Advanced strategic growth agenda in fiscal 2024, achieving constant currency revenue gains, significant gross margin expansion, double-digit adjusted EPS growth, and robust cash flow generation.

• Acquired over 6.5 million new customers in North America, with more than half from Gen Z and Millennials.

• Delivered record annual sales at the Coach brand and international topline growth, offsetting a slight decline in North America.

• Returned $321 million to stockholders through quarterly dividends in fiscal 2024.

• Announced a definitive agreement to acquire Capri Holdings Limited, with the FTC lawsuit pending and closure targeted for calendar year 2024.

Voting matters and shareholder proposals

• Election of 11 directors for one-year terms.

• Ratification of Deloitte & Touche LLP as independent registered public accounting firm for fiscal year 2025.

• Advisory vote to approve executive compensation (say-on-pay).

• Board recommends voting FOR all proposals.

Board of directors and corporate governance

• Board consists of 11 nominees with diverse backgrounds, 91% independent, average tenure 3.5 years, and 45% female.

• Board committees: Audit, Human Resources, and Governance and Nominations, all comprised solely of independent directors.

• Annual election of all directors, majority vote standard, proxy access, and annual board/committee assessments.

• Active board refreshment and succession planning, with two new directors appointed in 2024.

• Board oversight includes strategy, risk, corporate responsibility, and innovation (including AI and cybersecurity).