SEC Filing Summary: Coach, Inc. (Form 8-K)
Business Context and Reporting Period
This filing is a Current Report (Form 8-K) submitted by Coach, Inc. on November 13, 2012, regarding events occurring on November 7, 2012. The report details the results of the Company's 2012 Annual Meeting of Stockholders. Note: The metadata references "TAPESTRY, INC.", but the filing text explicitly identifies the registrant as "Coach, Inc."
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document is limited to corporate governance voting results.
Material Changes and Voting Results
A total of 247,253,393 votes were cast at the Annual Meeting. The results for the three proposals were as follows:
- Proposal 1: Election of Directors
- All eight candidates were elected.
- Stephanie Tilenius received the highest support with 218,927,327 votes for and 2,918,010 votes withheld.
- Gary Loveman received the most votes withheld (8,600,138) among the candidates, though he was still elected with 213,245,199 votes for.
- There were 25,408,056 broker non-votes regarding this proposal.
- Proposal 2: Ratification of Independent Auditor
- Stockholders ratified the appointment of Deloitte & Touche LLP for fiscal year 2013.
- Votes For: 244,329,310
- Votes Against: 2,225,261
- Votes Abstaining: 698,822
- Broker Non-votes: 0
- Proposal 3: Executive Compensation (Say-on-Pay)
- Stockholders approved the executive compensation plan on a non-binding advisory basis.
- Votes For: 179,010,873
- Votes Against: 41,598,568
- Votes Abstaining: 1,235,896
- Broker Non-votes: 25,408,056
Guidance, Outlook, and Risks
The filing text does not provide management commentary, financial guidance, outlook, risks, contingencies, or unusual items. The document is strictly a record of the shareholder vote.
Key Facts for Investor Verification
- Verify the corporate name discrepancy between the metadata (TAPESTRY, INC.) and the filing (Coach, Inc.).
- Note the significant number of votes against the executive compensation proposal (approx. 18.8% of total votes cast), which may indicate shareholder sentiment regarding pay practices.
- Confirm the successful ratification of Deloitte & Touche LLP as the independent auditor for fiscal year 2013.
- Review the specific vote counts for director Gary Loveman, who received the highest number of withheld votes among the slate.