G-III Apparel Group awarded performance share units to Named Executive Officers under its 2023 Long-Term Incentive Plan, vesting based on three-year Adjusted EBIT and ROIC performance through fiscal 2029.
Key takeaways
Compensation Committee awarded PSUs to five Named Executive Officers: Morris Goldfarb (115,163), Sammy Aaron (86,372), Jeffrey Goldfarb (33,589), Dana Perlman (15,994), Neal S. Nackman (7,997).
75% of PSUs vest based on three-year cumulative Adjusted EBIT target for fiscal 2027-2029; 25% on average ROIC reduced by 28.5% tax rate.
Vesting ranges from 50% to 150% of awarded PSUs per metric if performance exceeds or falls short of targets; zero vesting below minimum thresholds.
Settlement of vested PSUs in shares occurs on or within 90 days after April 15, 2029, subject to continued service.
Awards pursuant to 2023 Long-Term Incentive Plan; form of agreement filed as Exhibit 10.1.