Filing Details

Accession Number:
0001530721-13-000050
Form Type:
4
Zero Holdings:
No
Publication Time:
2013-06-11 16:11:10
Reporting Period:
2013-06-07
Filing Date:
2013-06-11
Accepted Time:
2013-06-11 16:11:10
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
1530721 Michael Kors Holdings Ltd KORS Leather & Leather Products (3100) 000000000
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1570611 S. Lee Sporn C/O Michael Kors Ltd, Unit 1902, 19/F
Tower 6, The Gateway, Harbour City
Tsim Sha Tsi, Kowloon K3
Svp Bus Affairs, Gc & Sec No Yes No No
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Ordinary Shares, No Par Value Acquisiton 2013-06-07 76,000 $5.00 99,331 No 4 M Direct
Ordinary Shares, No Par Value Disposition 2013-06-07 76,000 $62.38 23,331 No 4 S Direct
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 M Direct
No 4 S Direct
Reported Derivative Transactions
Sec. Name Sec. Type Acquisiton - Disposition Date Amount Price Amount - 2 Price - 2
Ordinary Shares, No Par Value Employee share option (right to buy) Disposition 2013-06-07 76,000 $0.00 76,000 $5.00
Remaning Holdings Exercise Date Expiration Date Equity Swap Involved Transaction Form Type Transaction Code Nature of Ownership
152,000 2021-03-25 No 4 M Direct
Reported Derivative Holdings
Sec. Name Sec. Type Price Date Expiration Date Amount Remaning Holdings Nature of Ownership
Ordinary Shares, No Par Value Employee share option (right to buy) $20.00 2018-12-14 41,182 41,182 Direct
Ordinary Shares, No Par Value Employee share option (right to buy) $62.24 2020-06-03 14,036 14,036 Direct
Ordinary Shares, No Par Value Performance-based restricted share units $0.00 4,820 0 Direct
Expiration Date Amount Remaning Holdings Nature of Ownership
2018-12-14 41,182 41,182 Direct
2020-06-03 14,036 14,036 Direct
4,820 0 Direct
Footnotes
  1. The price represents the weighted average sale price for multiple transactions reported on this line. The prices of the transactions ranged from $62.037 to $62.86. Upon request of the SEC staff, the Company or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold at each separate price.
  2. Granted on March 25, 2011 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 reporting person's continued employment with the Company through the vesting date. 76,000 share options are currently vested and exercisable. If the annual performance goal is attained for Fiscal 2014 and/or Fiscal 2015, then an additional 76,000 share options will vest annually on or about the date the audit of the financial statements of the Company for the fiscal years ended March 29, 2014 and March 28, 2015, respectively, is completed.
  3. Granted on December 14, 2011 pursuant to the Michael Kors Holdings Limited Omnibus Incentive Plan (the "Incentive Plan"). One-third of these share options will vest annually on each of December 14, 2013, 2014 and 2015, respectively, subject to the reporting person's continued employment with the Company through the vesting date.
  4. Granted on June 3, 2013 pursuant to the Incentive Plan. 25% of these share options will vest annually on each of June 3, 2014, 2015, 2016 and 2017, respectively, subject to the reporting person's continued employment with the Company through the vesting date.
  5. Each performance-based restricted share unit ("PRSUs") represents a contingent right to receive one ordinary share of the Company. The PRSUs will cliff vest around June 2016 only upon achievement of a pre-established cumulative net earnings goal for the applicable three-year period (2014-2016), subject to the reporting person's continued employment with the Company through the end of such performance period.
  6. The number of ordinary shares earned with respect to such PRSUs will range from 0-150% of the shares originally subject to the award, depending on actual achievement.