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## Kontoor Brands Announces Share-Repurchase Program
The board of directors for Kontoor Brands Inc. has recently authorized a share-repurchase program that could potentially spend up to $300 million on buying back the manufacturer’s common stock. This new authorization has no expiration date and replaces the existing $200 million program launched in August 2021.

Kontoor, based in Greensboro with a major distribution center in Mocksville, expects to fund these repurchases through the cash flow generated from its operations. Scott Baxter, Kontoor’s chairman, president, and chief executive, emphasized that the new authorization reflects the strong cash flow generation of the business and underscores the company’s focus on delivering superior total shareholder return over time.

With this announcement, Kontoor has also disclosed its intention to determine the timing and amount of repurchases under the new authorization based on its evaluation of market conditions, continued compliance with its debt covenants, and other factors. It’s important to note that the program may be suspended, modified, or terminated at any time without prior notice.

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AI legalese decoder can help translate the complex language used in the share-repurchase program authorization into plain English, making it easier for stakeholders, investors, and the general public to understand the implications and potential impact of the program.

Kontoor reported that it had spent a combined $138 million within the $200 million program, with the remaining $62 million intended to be utilized in subsequent repurchases under the new authorization. It’s worth mentioning that the strategic decision to buy back shares from the marketplace is a common practice among publicly traded companies to reduce the number of outstanding stock shares and potentially increase the value of the remaining shares. Furthermore, companies often repurchase shares when they believe the shares are undervalued.

#### CEO Compensation and Corporate Restructuring
Many corporations have made stock and stock options awards a primary financial factor in CEO compensation. This practice has resulted in a more direct tie between CEO compensation and overall company financial performance, particularly the share price.

For example, Baxter, the CEO of Kontoor, received total compensation of $11.41 million in fiscal 2022, representing a 14.3% increase from 2021. The majority of Baxter’s compensation came from receiving stock awards valued at $8.27 million the day they were awarded.

This new board authorization comes after Kontoor confirmed that corporate operations had been affected by the latest phase of its global restructuring. It’s pertinent to note that the company did not specify how many jobs would be affected by another round of workforce reductions. The restructuring charges, worth $8.8 million in the quarter, resulted in a 13-cent decrease in its diluted earnings per share.

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AI legalese decoder can assist in decoding and simplifying the legal and financial jargon related to CEO compensation, stock awards, and corporate restructuring. This can provide a clearer understanding of the impact of these decisions on the company’s financial health and its workforce.

In conclusion, the AI legalese decoder offers a valuable tool for stakeholders, investors, and the general public to demystify complex legal and financial terminology and understand the implications of Kontoor’s share-repurchase program, CEO compensation, and corporate restructuring.

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