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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Fossil Group Inc | NASDAQ:FOSLL | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.11 | 0.83% | 13.37 | 13.17 | 13.85 | 13.69 | 13.21 | 13.27 | 5,918 | 01:00:00 |
| Fiscal 2023 and 2022 Summary Compensation Table | | | | | 24 | | |
| | | | | 25 | | | |
| Perquisites | | | | | 31 | | |
| Employment Agreements | | | | | 31 | | |
| Outstanding Equity Awards At 2023 Fiscal Year-End Table | | | | | 32 | | |
| 2016 Incentive Plan | | | | | 33 | | |
| 2008 Incentive Plan | | | | | 33 | | |
| Pay Versus Performance | | | | | 34 | | |
| Post-Termination Compensation | | | | | 36 | | |
| Delinquent Section 16(a) Reports | | | | | 38 | | |
| | | | | 39 | | | |
| | | | | 40 | | | |
| Equity Compensation Plan Information | | | | | 40 | | |
| Description of the 2024 Plan | | | | | 41 | | |
| | | | | 50 | | | |
| | | | | 57 | | | |
| Independent Registered Public Accounting Firm Fees | | | | | 57 | | |
| | | | | 59 | | | |
| | | | | 59 | | | |
| | | | | 59 | | | |
| | | | | 60 | | | |
| | | | | A-1 | | |
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2024 PROXY STATEMENT
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1
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2
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WWW.FOSSILGROUP.COM
|
|
| |
NAME
|
| | |
AGE
|
| | |
POSITION
|
| | |
TENURE
(YEARS)* |
| |
| |
Mark R. Belgya
|
| | |
63
|
| | |
Director
|
| | |
6
|
| |
| |
Jeffrey N. Boyer
|
| | |
66
|
| | |
Director and Interim Chief Executive Officer
|
| | |
0.5
|
| |
| |
Pamela B. Corrie
|
| | |
66
|
| | |
Director
|
| | |
—
|
| |
| |
Susie Coulter
|
| | |
58
|
| | |
Director
|
| | |
1.5
|
| |
| |
Kim Harris Jones
|
| | |
64
|
| | |
Director
|
| | |
4.5
|
| |
| |
Eugene I. Davis
|
| | |
69
|
| | |
Director
|
| | |
—
|
| |
| |
Kevin Mansell
|
| | |
71
|
| | |
Chairman of the Board
|
| | |
5
|
| |
| |
Marc R. Y. Rey
|
| | |
60
|
| | |
Director
|
| | |
4
|
| |
| |
Gail B. Tifford
|
| | |
54
|
| | |
Director
|
| | |
7
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| |
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2024 PROXY STATEMENT
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3
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|
|
4
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WWW.FOSSILGROUP.COM
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2024 PROXY STATEMENT
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5
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6
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WWW.FOSSILGROUP.COM
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2024 PROXY STATEMENT
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7
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|
| |
BOARD DIVERSITY MATRIX (AS OF MAY 2, 2024)
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| | ||||||||||||||||||||||||||||
| |
Total Number of Directors
|
| | | | | | ||||||||||||||||||||||||
| | | | | |
Female
|
| | |
Male
|
| | |
Non-Binary
|
| | |
Did Not Disclose Gender
|
| | ||||||||||||
| |
Part I: Gender Identity
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| |
Directors
|
| | | | | 4 | | | | | | | 6 | | | | | | | 0 | | | | | | | 0 | | | |
| |
Part II: Demographic Background
|
| | ||||||||||||||||||||||||||||
| |
African American or Black
|
| | | | | 1 | | | | | | | 0 | | | | | | | 0 | | | | | | | 0 | | | |
| |
Alaskan Native or Native American
|
| | | | | 0 | | | | | | | 0 | | | | | | | 0 | | | | | | | 0 | | | |
| |
Asian
|
| | | | | 0 | | | | | | | 0 | | | | | | | 0 | | | | | | | 0 | | | |
| |
Hispanic or Latinx
|
| | | | | 0 | | | | | | | 0 | | | | | | | 0 | | | | | | | 0 | | | |
| |
Native Hawaiian or Pacific Islander
|
| | | | | 0 | | | | | | | 0 | | | | | | | 0 | | | | | | | 0 | | | |
| |
White
|
| | | | | 3 | | | | | | | 6 | | | | | | | 0 | | | | | | | 0 | | | |
| |
Two or More Races or Ethnicities
|
| | | | | 0 | | | | | | | 0 | | | | | | | 0 | | | | | | | 0 | | | |
| |
LGBTQ+
|
| | |
1
|
| | ||||||||||||||||||||||||
| |
Did Not Disclose Demographic Background
|
| | |
0
|
| |
|
8
|
| |
WWW.FOSSILGROUP.COM
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|
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The Board of Directors unanimously recommends that stockholders vote “FOR” the election of each Director Nominee set forth above for the Board of Directors.
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2024 PROXY STATEMENT
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9
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|
| |
DIRECTOR
|
| | |
AUDIT COMMITTEE
|
| | |
COMPENSATION
AND TALENT MANAGEMENT COMMITTEE |
| | |
NOMINATING AND CORPORATE
GOVERNANCE COMMITTEE |
| |
| |
Mark R. Belgya
|
| | |
C
|
| | |
X
|
| | | | | |
| |
Jeffrey N. Boyer
|
| | |
—
|
| | |
—
|
| | |
—
|
| |
| |
William B. Chiasson
|
| | |
X
|
| | | | | | |
X
|
| |
| |
Pamela B. Corrie
|
| | | | | | | | | | |
X
|
| |
| |
Susie Coulter
|
| | | | | | | | | | |
X
|
| |
| |
Eugene I. Davis
|
| | |
X
|
| | | | | | | | | |
| |
Kim Harris Jones
|
| | |
X
|
| | | | | | |
X
|
| |
| |
Kevin Mansell
|
| | | | | | |
C
|
| | | | | |
| |
Marc R. Y. Rey
|
| | | | | | |
X
|
| | | | | |
| |
Gail B. Tifford
|
| | | | | | | | | | |
C
|
| |
| |
Number of Committee Meetings in Fiscal Year 2023
|
| | |
8
|
| | |
4
|
| | |
4
|
| |
|
10
|
| |
WWW.FOSSILGROUP.COM
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2024 PROXY STATEMENT
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11
|
|
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12
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WWW.FOSSILGROUP.COM
|
|
|
Caleres, Inc.
Chico’s FAS, Inc. Columbia Sportswear Company Crocs, Inc. Deckers Outdoor Corporation |
| |
Express, Inc.
Genesco, Inc. G-III Apparel Group, Ltd. Guess?, Inc. Movado Group, Inc. |
| |
Oxford Industries, Inc.
Steven Madden, Ltd. Wolverine World Wide, Inc. |
|
|
2024 PROXY STATEMENT
|
| |
13
|
|
|
14
|
| |
WWW.FOSSILGROUP.COM
|
|
|
2024 PROXY STATEMENT
|
| |
15
|
|
|
16
|
| |
WWW.FOSSILGROUP.COM
|
|
|
2024 PROXY STATEMENT
|
| |
17
|
|
|
18
|
| |
WWW.FOSSILGROUP.COM
|
|
| |
POSITION
|
| | |
AMOUNT
|
| | |||
| |
Non-Employee Director
|
| | | |
$
|
90,000*
|
| | |
| |
Lead Independent Director
|
| | | | $ | 35,000 | | | |
| |
Audit Committee Chairperson
|
| | | | $ | 25,000 | | | |
| |
Audit Committee Member
|
| | | | $ | 15,000 | | | |
| |
Compensation and Talent Management Committee Chairperson
|
| | | | $ | 20,000 | | | |
| |
Compensation and Talent Management Committee Member
|
| | | | $ | 10,000 | | | |
| |
Nominating and Corporate Governance Committee Chairperson
|
| | | | $ | 15,000 | | | |
| |
Nominating and Corporate Governance Committee Member
|
| | | | $ | 10,000 | | | |
|
2024 PROXY STATEMENT
|
| |
19
|
|
| |
NAME (1)(2)
|
| | |
FEES EARNED OR PAID
IN CASH ($)(3) |
| | |
STOCK
AWARDS ($)(4) |
| | |
TOTAL ($)
|
| | |||||||||
| |
Mark R. Belgya
|
| | | | | 172,285 | | | | | | | 79,998 (5) | | | | | | | 252,283 | | | |
| |
William B. Chiasson
|
| | | | | 165,698 | | | | | | | 79,998 (5) | | | | | | | 245,696 | | | |
| |
Susie Coulter
|
| | | | | 128,553 | | | | | | | 79,998 | | | | | | | 208,551 | | | |
| |
Kim Harris Jones
|
| | | | | 162,285 | | | | | | | 79,998 (5) | | | | | | | 242,283 | | | |
| |
Kevin Mansell
|
| | | | | 175,219 | | | | | | | 79,998 | | | | | | | 255,217 | | | |
| |
Marc R. Y. Rey
|
| | | | | 130,219 | | | | | | | 79,998 | | | | | | | 210,217 | | | |
| |
Gail B. Tifford
|
| | | | | 135,219 | | | | | | | 79,998 | | | | | | | 215,217 | | | |
|
20
|
| |
WWW.FOSSILGROUP.COM
|
|
| | | | | |
SHARES BENEFICIALLY OWNED (1)(2)
|
| | ||||||||||
| |
NAME OF BENEFICIAL OWNER
|
| | |
NUMBER
|
| | |
PERCENT
|
| | ||||||
| |
Jeffrey N. Boyer
|
| | | | | 390,270 | | | | | | | * | | | |
| |
Sunil M. Doshi
|
| | | | | 79,862 | | | | | | | * | | | |
| |
Darren E. Hart
|
| | | | | 116,290 | | | | | | | * | | | |
| |
Kosta N. Kartsotis
|
| | | | | 3,200,837 | | | | | | | 6.0% | | | |
| |
Greg A. McKelvey
|
| | | | | 0 | | | | | | | * | | | |
| |
Mark R. Belgya
|
| | | | | 19,644 (3) | | | | | | | * | | | |
| |
William B. Chiasson
|
| | | | | 60,889 (4) | | | | | | | * | | | |
| |
Pamela B. Corrie
|
| | | | | 0 | | | | | | | | | | |
| |
Susie Coulter
|
| | | | | 45,287 (5) | | | | | | | * | | | |
| |
Eugene I. Davis
|
| | | | | 0 | | | | | | | | | | |
| |
Kim Harris Jones
|
| | | | | 11,466 (6) | | | | | | | * | | | |
| |
Kevin Mansell
|
| | | | | 69,959 (7) | | | | | | | * | | | |
| |
Marc R. Y. Rey
|
| | | | | 60,776 (8) | | | | | | | * | | | |
| |
Gail B. Tifford
|
| | | | | 77,925 (9) | | | | | | | * | | | |
| |
All executive officers and directors as a group (15 persons)
|
| | | | | 4,162,432 (10) | | | | | | | 7.8% | | | |
| |
BlackRock, Inc.
|
| | | | | 3,658,562 (11) | | | | | | | 6.9% | | | |
| |
Liechtensteinische Landesbank Aktiengesellschaft
|
| | | | | 2,805,194 (12) | | | | | | | 5.3% | | | |
| |
Charles Schwab Investment Management, Inc.
|
| | | | | 2,687,684 (13) | | | | | | | 5.1% | | | |
| |
The Vanguard Group
|
| | | | | 2,657,061 (14) | | | | | | | 5.0% | | | |
|
2024 PROXY STATEMENT
|
| |
21
|
|
|
22
|
| |
WWW.FOSSILGROUP.COM
|
|
| |
NAME
|
| | |
AGE
|
| | |
POSITION
|
| | |||
| |
Sunil M. Doshi
|
| | | | | 52 | | | | |
Executive Vice President, Chief Financial Officer and Treasurer
|
| |
| |
Melissa B. Lowenkron
|
| | | | | 49 | | | | |
Chief Brand Officer
|
| |
|
2024 PROXY STATEMENT
|
| |
23
|
|
| |
NAME
|
| | |
POSITION
|
| |
| |
Kosta N. Kartsotis*
|
| | |
Former Chairman of the Board and Chief Executive Officer
|
| |
| |
Jeffrey N. Boyer
|
| | |
Interim Chief Executive Officer**
|
| |
| |
Darren E. Hart***
|
| | |
Former Executive Vice President, Chief Human Resources Officer
|
| |
| |
Greg A. McKelvey****
|
| | |
Former Executive Vice President, Chief Commercial Officer
|
| |
| |
NAME AND PRINCIPAL
POSITION |
| | |
YEAR
|
| | |
SALARY
($) |
| | |
BONUS
($) |
| | |
STOCK
AWARDS ($)(1) |
| | |
OPTION
AWARDS ($) |
| | |
NON-EQUITY
INCENTIVE PLAN COMPENSATION ($)(2) |
| | |
CHANGE IN
PENSION VALUE AND NONQUALIFIED DEFERRED COMPENSATION EARNINGS ($) |
| | |
ALL OTEHR
COMPENSATION ($) |
| | |
TOTAL
($) |
| | |||||||||||||||||||||||||||
| |
Kosta N. Kartsotis (3)
Former Chief Executive Officer and Director
|
| | | | | 2023 | | | | | | | 1,057,692 | | | | | | | -0- | | | | | | | -0- | | | | | | | -0- | | | | | | | 393,250 | | | | | | | -0- | | | | | | | -0- | | | | | | | 1,450,942 | | | |
| | | 2022 | | | | | | | -0- | | | | | | | -0- | | | | | | | -0- | | | | | | | -0- | | | | | | | -0- | | | | | | | -0- | | | | | | | -0- | | | | | | | -0- | | | | |||||
| |
Jeffrey N. Boyer
Interim Chief Executive Officer
|
| | | | | 2023 | | | | | | | 719,250 | | | | | | | -0- | | | | | | | 262,598 | | | | | | | -0- | | | | | | | 197,794 | | | | | | | -0- | | | | | | | 24,594 (4) | | | | | | | 1,204,236 | | | |
| | | 2022 | | | | | | | 716,288 | | | | | | | -0- | | | | | | | 862,571 | | | | | | | -0- | | | | | | | 197,075 | | | | | | | -0- | | | | | | | 27,066 | | | | | | | 1,803,000 | | | | |||||
| |
Darren E. Hart
Former Executive Vice President, Chief Human Resources Officer
|
| | | | | 2023 | | | | | | | 700,550 | | | | | | | -0- | | | | | | | 321,680 | | | | | | | -0- | | | | | | | 144,488 | | | | | | | -0- | | | | | | | 20,657 (5) | | | | | | | 1,187,375 | | | |
| | | 2022 | | | | | | | 697,158 | | | | | | | -0- | | | | | | | 629,850 | | | | | | | -0- | | | | | | | 143,963 | | | | | | | -0- | | | | | | | 18,807 | | | | | | | 1,489,778 | | | | |||||
| |
Greg A. McKelvey
Former Executive Vice President, Chief Commercial Officer
|
| | | | | 2023 | | | | | | | 484,369 | | | | | | | -0- | | | | | | | 399,462 | | | | | | | -0- | | | | | | | 124,465 | | | | | | | -0- | | | | | | | 351,837 (6) | | | | | | | 1,360,133 | | | |
| | | 2022 | | | | | | | 737,754 | | | | | | | -0- | | | | | | | 888,455 | | | | | | | -0- | | | | | | | 202,979 | | | | | | | -0- | | | | | | | 8,176 | | | | | | | 1,837,364 | | | |
|
24
|
| |
WWW.FOSSILGROUP.COM
|
|
| |
NAME
|
| | |
ANNUAL SALARY RATE
|
| | |||
| |
Kartsotis
|
| | | | $ | 1,100,000 | | | |
| |
Boyer
|
| | | | $ | 719,250 | | | |
| |
Hart
|
| | | | $ | 700,550 | | | |
| |
McKelvey
|
| | | | $ | 740,800 | | | |
|
2024 PROXY STATEMENT
|
| |
25
|
|
| | | | | |
PERFORMANCE METRIC
|
| | |
DESCRIPTION
|
| | |
WEIGHTING
|
| | |||
| |
Financial goals:
|
| | |
Net sales
|
| | |
Target of $1.7 billion
|
| | | |
|
25%
|
| | |
|
Adjusted operating income
|
| | |
Target of $68 million
|
| | | | | 35% | | | | |||||
| | | | | |
TAG Opex Run Rate Savings
|
| | |
Target of $100 million
|
| | | | | 25% | | | |
| |
Strategic goals:
|
| | | | | | |
• Revitalize the FOSSIL brand
• Digital transformation
• Jewelry expansion
|
| | | | | 15%* | | | |
| |
PERFORMANCE METRIC
|
| | |
THRESHOLD*
PERFORMANCE |
| | |
THRESHOLD*
PAYOUT |
| | |
TARGET
PERFORMANCE |
| | |
TARGET
PAYOUT |
| | |
STRETCH*
PERFORMANCE |
| | |
MAXIMUM*
PAYOUT |
| | |||||||||||||||
| |
Net sales
|
| | | | | 95% | | | | | | | 20% | | | | |
$1.7 billion
|
| | | | | 100% | | | | | | | 106% | | | | | | | 200% | | | |
| |
Adjusted operating
income |
| | | | | 50% | | | | | | | 20% | | | | |
$68 million
|
| | | | | 100% | | | | | | | 166% | | | | | | | 200% | | | |
| |
TAG Opex Run
Rate Savings |
| | | | | 68% | | | | | | | 20% | | | | |
$100 million
|
| | | | | 100% | | | | | | | 145% | | | | | | | 200% | | | |
|
26
|
| |
WWW.FOSSILGROUP.COM
|
|
| |
NAME
|
| | |
BASE SALARY
|
| | |
PERCENTAGE
|
| | |
COMPANY
PAYOUT % |
| | |
TOTAL BONUS AMOUNT
|
| | ||||||||||||
| |
Kartsotis
|
| | | | $ | 1,100,000 | | | | | | | 130% | | | | | | | 27.5% | | | | | | $ | 393,250 | | | |
| |
Boyer
|
| | | | $ | 719,250 | | | | | | | 100% | | | | | | | 27.5% | | | | | | $ | 197,794 | | | |
| |
Hart
|
| | | | $ | 700,550 | | | | | | | 75% | | | | | | | 27.5% | | | | | | $ | 144,488 | | | |
| |
McKelvey
|
| | | | $ | 740,800 | | | | | | | 100% | | | | | | | 27.5% | | | | | | $ | 124,465 * | | | |
|
2024 PROXY STATEMENT
|
| |
27
|
|
| |
NAME
|
| | |
ANNUAL EQUITY AWARD (1)
|
| | |
RSUS (50%)
|
| | |
PSUS (50%)
|
| | |
RSU SHARES
|
| | |
PSU SHARES
|
| | |||||||||||||||
| |
Kartsotis
|
| | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |
| |
Boyer
|
| | | | $ | 262,598 | | | | | | $ | 131,299 | | | | | | $ | 131,299 | | | | | | | 40,713 | | | | | | | 40,713 | | | |
| |
Hart
|
| | | | $ | 321,680 | | | | | | $ | 225,340 (2) | | | | | | $ | 96,340 | | | | | | | 69,873 (2) | | | | | | | 29,873 | | | |
| |
McKelvey
|
| | | | $ | 399,462 | | | | | | $ | 264,231 (2) | | | | | | $ | 135,231 | | | | | | | 81,932 (2) | | | | | | | 41,932 | | | |
| | | | | |
VESTING
|
| | |
2023 ADJUSTED
OPERATING MARGIN |
| | ||||||
| |
Stretch
|
| | | | | 200% | | | | | | | 5.8% | | | |
| |
Maximum
|
| | | | | 150% | | | | | | | 4.8% | | | |
| |
Target
|
| | | | | 100% | | | | | | | 4.3% | | | |
| |
Threshold
|
| | | | | 50% | | | | | | | 3.8% | | | |
|
28
|
| |
WWW.FOSSILGROUP.COM
|
|
| | | | | |
VESTING
|
| | |
2023 ADJUSTED
OPERATING INCOME |
| | |||
| |
Stretch
|
| | | | | 200% | | | | |
$212 million
|
| |
| |
Maximum
|
| | | | | 150% | | | | |
$195 million
|
| |
| |
Target
|
| | | | | 100% | | | | |
$173 million
|
| |
| |
Threshold
|
| | | | | 50% | | | | |
$155 million
|
| |
| | | | | |
VESTING
|
| | |
2023 ADJUSTED
OPERATING MARGIN |
| | ||||||
| |
Stretch
|
| | | | | 200% | | | | | | | 3.0% | | | |
| |
Maximum
|
| | | | | 150% | | | | | | | 2.5% | | | |
| |
Target
|
| | | | | 100% | | | | | | | 2.0% | | | |
| |
Threshold
|
| | | | | 50% | | | | | | | 1.5% | | | |
|
2024 PROXY STATEMENT
|
| |
29
|
|
| |
POSITION
|
| | |
BASE SALARY MULTIPLE
|
| |
| |
Chief Executive Officer
|
| | |
Six Times
|
| |
| |
Other Executive Officers
|
| | |
Two Times
|
| |
|
2024 PROXY STATEMENT
|
| |
31
|
|
| |
Name
|
| | | | | | | | | |
Option Awards(1)
|
| | |
Stock Awards
|
| | ||||||||||||||||||||||||||||||||||||||||||||||||
|
Grant Date
|
| | |
Number of
Securities Underlying Unexercised Options (#) Exercisable |
| | |
Number of
Securities Underlying Unexercised Options (#) Unexercisable |
| | |
Option
Exercise Price ($) |
| | |
Option
Expiration Date |
| | |
Number of
Shares or Units of Stock That Have Not Vested (#) (2) |
| | |
Market Value
of Shares or Units of Stock that Have Not Vested ($) |
| | |
Equity
Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) |
| | |
Equity
Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights that Have Not Vested ($) |
| | ||||||||||||||||||||||||||||||||
| |
Kosta N.
Kartsotis (3) |
| | | | | N/A | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |
| |
Jeffrey N.
Boyer |
| | | | | 4/15/2021 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 11,886 | | | | | | | 17,354 | | | | | | | 11,886 (4) | | | | | | | 17,354 | | | |
| | | | | | | | 4/15/2022 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 26,414 | | | | | | | 38,564 | | | | | | | 26,414 (5) | | | | | | | 38,564 | | | |
| | | | | | | | 4/15/2023 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 40,713 | | | | | | | 59,441 | | | | | | | 40,713 (6) | | | | | | | 59,441 | | | |
| |
Darren E.
Hart |
| | | | | 3/15/2016 | | | | | | | 18,515 | | | | | | | — | | | | | | | 47.99 | | | | | | | 3/15/2024 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |
| | | | | | | | 4/15/2021 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 8,679 | | | | | | | 12,671 | | | | | | | 8,679 (4) | | | | | | | 12,671 | | | |
| | | | | | | | 4/15/2022 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 19,288 | | | | | | | 28,160 | | | | | | | 19,288 (5) | | | | | | | 28,160 | | | |
| | | | | | | | 4/15/2023 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 69,873 | | | | | | | 102,015 | | | | | | | 29,873 (6) | | | | | | | 43,615 | | | |
| |
Greg A.
McKelvey |
| | | | | 3/15/2016 | | | | | | | 17,634 | | | | | | | — | | | | | | | 47.99 | | | | | | | 3/15/2024 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |
| | | | | | | | 4/15/2021 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 12,243 | | | | | | | 17,875 | | | | | | | 12,243 (4) | | | | | | | 17,875 | | | |
| | | | | | | | 4/15/2022 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 13,604 | | | | | | | 19,862 | | | | | | | 13,604 (5) | | | | | | | 19,862 | | | |
| | | | | | | | 4/15/2023 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 27,312 | | | | | | | 39,876 | | | | | | | 13,978 (6) | | | | | | | 20,408 | | | |
|
32
|
| |
WWW.FOSSILGROUP.COM
|
|
|
2024 PROXY STATEMENT
|
| |
33
|
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
VALUE OF INITIAL FIXED
$100 INVESTMENT BASED ON: |
| | ||||||||||
| |
FISCAL YEAR
(a) |
| | |
SUMMARY
COMPENSATION TABLE TOTAL FOR PEO (b) |
| | |
COMPENSATION
ACTUALLY PAID TO PEO (c) |
| | |
AVERAGE
SUMMARY COMPENSATION TABLE TOTAL FOR NON-PEO NEOS (d) |
| | |
AVERAGE
COMPENSATION ACTUALLY PAID TO NON-PEO NEOS (e) |
| | |
TOTAL
SHAREHOLDER RETURN (f) |
| | |
NET
INCOME (IN $M) (g) |
| | ||||||||||||||||||
| | 2023 | | | | | $ | 1,450,942 | | | | | | $ | 1,450,942 | | | | | | $ | 1,250,581 | | | | | | $ | 712,032 | | | | | | $ | 16.84 | | | | | | $ | (156.7) | | | |
| | 2022 | | | | | $ | 0 | | | | | | $ | 0 | | | | | | $ | 1,509,719 | | | | | | $ | 553,910 | | | | | | $ | 49.71 | | | | | | $ | (43.5) | | | |
| | 2021 | | | | | $ | 0 | | | | | | $ | 0 | | | | | | $ | 2,157,293 | | | | | | $ | 2,403,236 | | | | | | $ | 118.69 | | | | | | $ | 26.6 | | | |
|
34
|
| |
WWW.FOSSILGROUP.COM
|
|
|
2024 PROXY STATEMENT
|
| |
35
|
|
|
36
|
| |
WWW.FOSSILGROUP.COM
|
|
|
2024 PROXY STATEMENT
|
| |
37
|
|
|
38
|
| |
WWW.FOSSILGROUP.COM
|
|
|
The Board of Directors unanimously recommends that stockholders vote
“FOR” the approval, on an advisory basis, of the compensation of our Named Executive Officers as disclosed in the section entitled Executive Compensation. |
|
|
2024 PROXY STATEMENT
|
| |
39
|
|
|
The Board of Directors recommends that the stockholders vote
“FOR” the approval of the 2024 Plan. |
|
| |
PLAN
CATEGORY |
| | |
(A)
NUMBER OF SECURITIES TO BE ISSUED UPON EXERCISE OF OUTSTANDING OPTIONS, WARRANTS AND RIGHTS (1) |
| | |
(B)
WEIGHTED-AVERAGE EXERCISE PRICE OF OUTSTANDING OPTIONS, WARRANTS AND RIGHTS |
| | |
(C)
NUMBER OF SECURITIES REMAINING AVAILABLE FOR FUTURE ISSUANCE UNDER EQUITY COMPENSATION PLANS (EXCLUDING SECURITIES REFLECTED IN COLUMN (A)) |
| | |||||||||
| |
Equity
compensation plans approved by security holders |
| | | | | 1,917,156 | | | | | | $ | 47.99 (2) | | | | | | | 2,148,307 | | | |
| |
Equity
compensation plans not approved by security holders |
| | |
Not applicable
|
| | |
Not applicable
|
| | |
Not applicable
|
| | |||||||||
| | Total | | | | | | 1,917,156 | | | | | | $ | 47.99 | | | | | | | 2,148,307 | | | |
|
40
|
| |
WWW.FOSSILGROUP.COM
|
|
|
2024 PROXY STATEMENT
|
| |
41
|
|
|
42
|
| |
WWW.FOSSILGROUP.COM
|
|
|
2024 PROXY STATEMENT
|
| |
43
|
|
|
44
|
| |
WWW.FOSSILGROUP.COM
|
|
|
2024 PROXY STATEMENT
|
| |
45
|
|
|
46
|
| |
WWW.FOSSILGROUP.COM
|
|
|
2024 PROXY STATEMENT
|
| |
47
|
|
|
48
|
| |
WWW.FOSSILGROUP.COM
|
|
|
The Board of Directors unanimously recommends that stockholders vote “FOR” the 2024 Plan.
|
|
|
2024 PROXY STATEMENT
|
| |
49
|
|
|
50
|
| |
WWW.FOSSILGROUP.COM
|
|
|
2024 PROXY STATEMENT
|
| |
51
|
|
|
52
|
| |
WWW.FOSSILGROUP.COM
|
|
|
2024 PROXY STATEMENT
|
| |
53
|
|
|
54
|
| |
WWW.FOSSILGROUP.COM
|
|
|
2024 PROXY STATEMENT
|
| |
55
|
|
|
The Board of Directors unanimously recommends that stockholders vote “FOR”
the approval of an amendment to the Certificate of Incorporation to effect the Reverse Stock Split. |
|
|
56
|
| |
WWW.FOSSILGROUP.COM
|
|
| | | | | |
FISCAL YEAR
2023 |
| | |
FISCAL YEAR
2022 |
| | ||||||
| |
Audit Fees (1)
|
| | | | $ | 3,259,150 | | | | | | $ | 3,155,850 | | | |
| |
Audit-Related Fees (2)
|
| | | | $ | 142,430 | | | | | | $ | 112,270 | | | |
| |
Tax Fees (3)
|
| | | | $ | 155,420 | | | | | | $ | 290,561 | | | |
| |
Other fees (4)
|
| | | | $ | 26,000 | | | | | | $ | 163,105 | | | |
| |
Total Fees
|
| | | | $ | 3,583,000 | | | | | | $ | 3,721,786 | | | |
|
2024 PROXY STATEMENT
|
| |
57
|
|
|
The Board of Directors unanimously recommends that the stockholders vote “FOR” the ratification of the appointment of Deloitte & Touche LLP as the company’s independent registered public accounting firm for the fiscal year ending December 28, 2024
|
|
|
58
|
| |
WWW.FOSSILGROUP.COM
|
|
|
It is IMPORTANT that proxies be voted promptly. Stockholders who do not expect to
attend the meeting and wish their stock to be voted are urged to vote by internet, phone or mail as described in the proxy card or proxy notice. |
|
|
2024 PROXY STATEMENT
|
| |
59
|
|
|
60
|
| |
WWW.FOSSILGROUP.COM
|
|
| |
PROPOSAL
NO. |
| | |
DESCRIPTION
|
| | |
BOARD VOTING RECOMMENDATIONS
|
| | |
PAGE
|
| |
| |
1
|
| | |
Election of Directors
|
| | |
FOR All Director Nominees
|
| | | | | |
| |
2
|
| | |
Advisory Vote to Approve the Compensation of our Named Executive Officers
|
| | |
FOR
|
| | | | | |
| |
3
|
| | |
Approval of the Fossil Group, Inc. 2024 Long-Term Incentive Plan
|
| | |
FOR
|
| | | | | |
| |
4
|
| | |
Approval of the amendment to the Third Amended and Restated Certificate of Incorporation to effect the Reverse Stock Split
|
| | |
FOR
|
| | | | | |
| |
5
|
| | |
Ratification of the Appointment of Independent Auditors
|
| | |
FOR
|
| | | | |
|
2024 PROXY STATEMENT
|
| |
61
|
|
|
|
| |
|
| |
|
|
|
INTERNET
|
| |
TELEPHONE
|
| |
MAIL
|
|
|
Vote your proxy on the Internet:
Go to www.AALvote.com/FOSL
Have your proxy card available when you access the above website. Follow prompts to vote your shares.
|
| |
Vote your proxy by phone:
Call 1-(866) 804-9616
Use any touch-tone telephone to vote your proxy. Have your proxy card available when you call. Follow the voting instructions to vote your proxy.
|
| |
Vote your proxy by mail:
Mark, sign and date your proxy card, then detach it, and return it in the postage-paid envelope provided.
|
|
|
62
|
| |
WWW.FOSSILGROUP.COM
|
|
|
2024 PROXY STATEMENT
|
| |
63
|
|
|
64
|
| |
WWW.FOSSILGROUP.COM
|
|
|
2024 PROXY STATEMENT
|
| |
65
|
|
|
2024 PROXY STATEMENT
|
| |
A-1
|
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A-2
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WWW.FOSSILGROUP.COM
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2024 PROXY STATEMENT
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A-3
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A-4
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WWW.FOSSILGROUP.COM
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2024 PROXY STATEMENT
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A-5
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A-6
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WWW.FOSSILGROUP.COM
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2024 PROXY STATEMENT
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A-7
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A-8
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WWW.FOSSILGROUP.COM
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2024 PROXY STATEMENT
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A-9
|
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A-10
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WWW.FOSSILGROUP.COM
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2024 PROXY STATEMENT
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A-11
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A-12
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WWW.FOSSILGROUP.COM
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2024 PROXY STATEMENT
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A-13
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A-14
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WWW.FOSSILGROUP.COM
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2024 PROXY STATEMENT
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A-15
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A-16
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WWW.FOSSILGROUP.COM
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2024 PROXY STATEMENT
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A-17
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A-18
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WWW.FOSSILGROUP.COM
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2024 PROXY STATEMENT
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A-19
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A-20
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| |
WWW.FOSSILGROUP.COM
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2024 PROXY STATEMENT
|
| |
A-21
|
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A-22
|
| |
WWW.FOSSILGROUP.COM
|
|
|
2024 PROXY STATEMENT
|
| |
A-23
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|
1 Year Fossil Chart |
1 Month Fossil Chart |
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