±¬×ߺÚÁÏ

Definitive proxy statements

Pay vs Performance Disclosure

v3.24.1.1.u2
Pay vs Performance Disclosure
3 Months Ended 4 Months Ended 8 Months Ended 12 Months Ended
Jul. 16, 2023
Apr. 01, 2023
Mar. 30, 2024
Dec. 01, 2022
Mar. 30, 2024
USD ($)
Percentile
Apr. 01, 2023
USD ($)
Percentile
Apr. 02, 2022
USD ($)
Percentile
Apr. 03, 2021
USD ($)
Percentile
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure, Table Ìý Ìý Ìý Ìý
Pay Versus Performance
As required by SectionÌý953(a) of the Dodd-Frank Act, and Item 402(v) of Regulation
S-K,
we are providing the following information
about
the relationship between “compensation actually paid� to our named executive officers and certain financial performance of VF. Compensation actually paid,
as
determined under SEC requirements, does not necessarily reflect the actual amount of compensation earned by or paid to our named executive officers. The Committee evaluates compensation decisions in light of VF or individual performance and does not use “compensation actually paid� as a basis for making compensation decisions. For information concerning our compensation philosophy and how we align executive compensation with our performance, see the Compensation Discussion and Analysis above.
Ìý
Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
VALUEÌýOFÌýINITIALÌýFIXED
$100ÌýINVESTMENTÌýBASED
ON
Ìý
Ìý Ìý
YEAR
Ìý
Ìý
SUMMARY
COMPENSATION
TABLE (SCT)
TOTAL FOR
MR.ÌýDARRELL
($)
(1)
Ìý
Ìý
COMPENSATION
ACTUALLY PAID
(CAP) TO
MR.ÌýDARRELL
($)
(2)
Ìý
Ìý
SUMMARY
COMPENSATION
TABLE
(SCT)ÌýTOTAL
FORÌýMR. DORER
($)
(1)
Ìý
Ìý
COMPENSATION
ACTUALLY PAID
(CAP) TO
MR.ÌýDORER
($)
(2)
Ìý
Ìý
SUMMARY
COMPENSATION
TABLE (SCT)
TOTAL FOR
MR. RENDLE
($)
(1)
Ìý
Ìý
COMPENSATION
ACTUALLY PAID
(CAP) TO
MR.ÌýRENDLE
($)
(2)
Ìý
Ìý
AVERAGE
SCTÌýTOTAL
FOR
NON-PEO
NEOS
($)
(3)
Ìý
Ìý
AVERAGE
CAP TO
NON-PEO

NEOS
($)
(4)
Ìý
Ìý
TSR
($)
(5)
Ìý
Ìý
Ìý
S&P 1500
APPAREL,
ACCESSORIES
& LUXURY
GOODS
SUBINDUSTRY
INDEX TSR
($)
(6)
Ìý
Ìý
NET
INCOME
(IN
MILLIONS)
($)
(7)
Ìý
Ìý
1-YEAR
RTSR
PERCENTILE
RANK
(8)
Ìý
2024
Ìý Ìý $ 13,535,399 Ìý Ìý $ 9,552,700 Ìý Ìý $ 1,971,941 Ìý Ìý $ 1,155,850 Ìý Ìý Ìý N/A Ìý Ìý Ìý N/A Ìý Ìý $ 4,630,927 Ìý Ìý $ 3,345,820 Ìý Ìý $ 30.81 Ìý Ìý $ 128.20 Ìý Ìý $ (968.88 ) Ìý 2nd
percentile
Ìý
2023
Ìý Ìý Ìý N/A Ìý Ìý Ìý N/A Ìý Ìý Ìý 3,037,566 Ìý Ìý Ìý 2,725,023 Ìý Ìý $ 11,485,534 Ìý Ìý $ (9,632,882 ) Ìý Ìý Ìý 4,588,662 Ìý Ìý Ìý 428,117 Ìý Ìý Ìý 44.13 Ìý Ìý Ìý 131.21 Ìý Ìý Ìý 118.59 Ìý 0th
percentile
Ìý
2022
Ìý Ìý Ìý N/A Ìý Ìý Ìý N//A Ìý Ìý Ìý N/A Ìý Ìý Ìý N/A Ìý Ìý Ìý 15,423,153 Ìý Ìý Ìý 3,060,425 Ìý Ìý Ìý 5,284,304 Ìý Ìý Ìý 988,855 Ìý Ìý Ìý 103.36 Ìý Ìý Ìý 166.43 Ìý Ìý Ìý 1,386.94 Ìý 12th
percentile
Ìý
2021
Ìý Ìý Ìý N/A Ìý Ìý Ìý N//A Ìý Ìý Ìý N/A Ìý Ìý Ìý N/A Ìý Ìý Ìý 15,782,405 Ìý Ìý Ìý 24,664,101 Ìý Ìý Ìý 4,244,022 Ìý Ìý Ìý 6,511,273 Ìý Ìý Ìý 141.12 Ìý Ìý Ìý 197.11 Ìý Ìý Ìý 407.9 Ìý 5th
percentile
Ìý
(1)
The dollar amounts in these columns show the amount of total compensation reported for Messrs. Darrell, Dorer and Rendle in the “Totalâ€� column of the Summary Compensation Table in each applicable year. Mr. Darrell was appointed our President and Chief Executive Officer effective JulyÌý17, 2023. Mr. Dorer served as our Interim President and Chief Executive Officer from DecemberÌý2, 2022 to JulyÌý16, 2023. Mr. Rendle retired as our Chair, President and Chief Executive Officer effective DecemberÌý2, 2022.
Ìý
(2)
The dollar amounts reported in these columns represent the amount of “compensation actually paid� to Messrs. Darrell, Dorer and Rendle, as computed in accordance with Item 402(v) of Regulation
S-K
(“CAP�) in each applicable year. The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. In accordance with the requirements of Item 402(v) of Regulation
S-K,
the following adjustments were made to Messrs. Darrell, Dorer and Rendle’s total compensation for each applicable year to determine their respective CAP:
Ìý
YEAR
Ìý
2024
Ìý
PEO
Ìý Ìý Mr.ÌýDarrell Ìý
SCT Total compensation ($)
Ìý Ìý 13,535,399 Ìý
Less: Stock and Option Award Values Reported in SCT for the Covered Year ($)
Ìý Ìý (12,476,564 )Ìý
Plus: Fair Value for Stock and Option Awards Granted in the Covered Year ($)
Ìý Ìý 8,493,865 Ìý
Change in Fair Value of Outstanding Unvested Stock and Option Awards from Prior Years ($)
Ìý Ìý 0 Ìý
Change in Fair Value of Stock and Option Awards from Prior Years that Vested in the Covered Year ($)
Ìý Ìý 0 Ìý
Less: Fair Value of Stock and Option Awards Forfeited during the Covered Year ($)
Ìý Ìý 0 Ìý
Less: Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans ($)
Ìý Ìý 0 Ìý
Plus: Aggregate Service Cost and Prior Service Cost for Pension Plans ($)
Ìý Ìý 0 Ìý
Compensation Actually Paid ($)
Ìý Ìý 9,552,700 Ìý
Ìý
Ìý
YEAR
Ìý
2023
Ìý Ìý
2024
Ìý
Interim
PEO
Ìý Ìý Mr.ÌýDorer Ìý Ìý Ìý Mr.ÌýDorer Ìý
SCT Total compensation ($)
Ìý Ìý 3,037,566 Ìý Ìý Ìý 1,971,941 Ìý
Less: Stock and Option Award Values Reported in SCT for the Covered Year ($)
Ìý Ìý (2,000,001 )Ìý Ìý Ìý (660,766 )Ìý
Plus: Fair Value for Stock and Option Awards Granted in the Covered Year ($)
Ìý Ìý 1,614,491 Ìý Ìý Ìý 59,068 Ìý
Change in Fair Value of Outstanding Unvested Stock and Option Awards from Prior Years ($)
Ìý Ìý 0 Ìý Ìý Ìý 0 Ìý
Change in Fair Value of Stock and Option Awards from Prior Years that Vested in the Covered Year ($)
Ìý Ìý 72,966 Ìý Ìý Ìý (214,393 )Ìý
Less: Fair Value of Stock and Option Awards Forfeited during the Covered Year ($)
Ìý Ìý 0 Ìý Ìý Ìý 0 Ìý
Less: Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans ($)
Ìý Ìý 0 Ìý Ìý Ìý 0 Ìý
Plus: Aggregate Service Cost and Prior Service Cost for Pension Plans ($)
Ìý Ìý 0 Ìý Ìý Ìý 0 Ìý
Compensation Actually Paid ($)
Ìý Ìý 2,725,023 Ìý Ìý Ìý 1,155,850 Ìý
Ìý
YEAR
Ìý
2021
Ìý Ìý
2022
Ìý Ìý
2023
Ìý
Former PEO
Ìý Ìý Mr.ÌýRendle Ìý Ìý Ìý Mr.ÌýRendle Ìý Ìý Ìý Mr.ÌýRendle Ìý
SCT Total compensation ($)
Ìý Ìý 15,782,405 Ìý Ìý Ìý 15,423,153 Ìý Ìý Ìý 11,485,534 Ìý
Less: Stock and Option Award Values Reported in SCT for the Covered Year ($)
Ìý Ìý (10,557,728 )Ìý Ìý Ìý (10,289,370 )Ìý Ìý Ìý (9,917,497 )Ìý
Plus: Fair Value for Stock and Option Awards Granted in the Covered YearÌý($)
Ìý Ìý 16,607,593 Ìý Ìý Ìý 6,068,752 Ìý Ìý Ìý 0 Ìý
Change in Fair Value of Outstanding Unvested Stock and Option Awards from Prior Years ($)
Ìý Ìý 1,931,978 Ìý Ìý Ìý (7,137,206 )Ìý Ìý Ìý (5,793,073 )Ìý
Change in Fair Value of Stock and Option Awards from Prior Years that Vested in the Covered Year ($)
Ìý Ìý 1,799,652 Ìý Ìý Ìý (1,004,903 )Ìý Ìý Ìý (5,407,846 )Ìý
Less: Fair Value of Stock and Option Awards Forfeited during the Covered Year ($)
Ìý Ìý 0 Ìý Ìý Ìý 0 Ìý Ìý Ìý 0 Ìý
Less: Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans ($)
Ìý Ìý (899,800 )Ìý Ìý Ìý 0 Ìý Ìý Ìý 0 Ìý
Plus: Aggregate Service Cost and Prior Service Cost for Pension Plans ($)
Ìý Ìý 0 Ìý Ìý Ìý 0 Ìý Ìý Ìý 0 Ìý
Compensation Actually Paid ($)
Ìý Ìý 24,664,101 Ìý Ìý Ìý 3,060,425 Ìý Ìý Ìý (9,632,882 )Ìý
Ìý
(3)
The dollar amounts in this column represent the average of the amounts of total compensation reported for our named executive officers (“NEOsâ€�) as a group (excluding, as applicable, Mr.ÌýDarrell, who was appointed our PEO effective July 2023, Mr.ÌýDorer, who served as our Interim PEO from December 2022 to July 2023, and Mr.ÌýRendle, who had served as our PEO from January 2017 to December 2022) in the “Totalâ€� column of the Summary Compensation Table in each applicable year. NEOs included for purposes of calculating the average amounts in each applicable year are as follows: (i)Ìýfor 2024, Messrs. Puckett, Bailey, Scabbia Guerrini, and Hyder and Ms.ÌýOtto; (ii)Ìýfor 2023, Messrs. Puckett, Bailey and Scabbia Guerrini and Ms.ÌýOtto; (iii)Ìýfor 2022, Messrs. Puckett, Bailey, Scabbia Guerrini, Murray who served as our Global Brand President, The North Face until May 2022 and Roe who served as our Executive Vice President and Chief Financial Officer until May 2021; and (iv)Ìýfor 2021, Messrs. Roe, Bailey, Scabbia Guerrini and Murray.
Ìý
Ìý
(4)
The dollar amounts reported in this column represent the average amount of CAP to the NEOs as a group (excluding, as applicable, Messrs. Darrell, Dorer and Rendle) in each applicable year. The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. The following adjustments were made to the average total compensation of the NEOs as a group (other than the PEO) for each year to determine the average amount of CAP to the NEOs (excluding, as applicable, Messrs. Darrell, Dorer and Rendle) in
each
applicable year:
Ìý
YEAR
Ìý
2021
Ìý Ìý
2022
Ìý Ìý
2023
Ìý Ìý
2024
Ìý
Non-PEO
NEOs
Ìý Ìý SeeÌýNoteÌý3 Ìý Ìý Ìý SeeÌýNoteÌý3 Ìý Ìý Ìý SeeÌýNoteÌý3 Ìý Ìý Ìý SeeÌýNoteÌý3 Ìý
SCT Total compensation ($)
Ìý Ìý 4,244,022 Ìý Ìý Ìý 5,284,304 Ìý Ìý Ìý 4,588,662 Ìý Ìý Ìý 4,630,927 Ìý
Less: Stock and Option Award Values Reported in SCT for the Covered Year ($)
Ìý Ìý (2,497,550 )Ìý Ìý Ìý (2,392,914 )Ìý Ìý Ìý (3,685,245 )Ìý Ìý Ìý (3,844,006 )Ìý
Plus: Fair Value for Stock and Option Awards Granted in the Covered Year ($)
Ìý Ìý 3,928,710 Ìý Ìý Ìý 1,472,971 Ìý Ìý Ìý 1,604,972 Ìý Ìý Ìý 3,275,505 Ìý
Change in Fair Value of Outstanding Unvested Stock and Option Awards from Prior Years ($)
Ìý Ìý 470,980 Ìý Ìý Ìý (1,518,935 )Ìý Ìý Ìý (1,401,368 )Ìý Ìý Ìý (637,645 )Ìý
Change in Fair Value of Stock and Option Awards from Prior Years that Vested in the Covered Year ($)
Ìý Ìý 505,663 Ìý Ìý Ìý (306,952 )Ìý Ìý Ìý (678,904 )Ìý Ìý Ìý (78,721 )Ìý
Less: Fair Value of Stock and Option Awards Forfeited during the Covered YearÌý($)
Ìý Ìý 0 Ìý Ìý Ìý 0 Ìý Ìý Ìý 0 Ìý Ìý Ìý 0 Ìý
Less: Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans ($)
Ìý Ìý (171,446 )Ìý Ìý Ìý (1,575,183 )Ìý Ìý Ìý (33,116 )Ìý Ìý Ìý (31,426 )Ìý
Plus: Aggregate Service Cost and Prior Service Cost for Pension Plans ($)
Ìý Ìý 30,895 Ìý Ìý Ìý 25,564 Ìý Ìý Ìý 33,116 Ìý Ìý Ìý 31,186 Ìý
Compensation Actually Paid ($)
Ìý Ìý 6,511,273 Ìý Ìý Ìý 988,855 Ìý Ìý Ìý 428,117 Ìý Ìý Ìý 3,345,820 Ìý
Ìý
(5)
For the relevant year, represents the cumulative total shareholder return (“TSR�) of VF for the
52-week
measurement periods ended on MarchÌý30, 2024, AprilÌý1, 2023 and AprilÌý2, 2022, and the
53-week
measurement period ended on AprilÌý3, 2021.
Ìý
(6)
For the relevant year, represents the cumulative TSR of the S&P 1500 Apparel, AccessoriesÌý& Luxury Goods Subindustry Index companies (“Peer Group TSRâ€�) for the
52-week
measurement periods ended on MarchÌý30, 2024, AprilÌý1, 2023 and AprilÌý2, 2022, and the
53-week
measurement period ended on AprilÌý3, 2021.
Ìý
(7)
Reflects “Net Income� in our Consolidated Income Statements included in VF’s Annual Reports on Form
10-K
for each of the years ended MarchÌý30, 2024, AprilÌý1, 2023, AprilÌý2, 2022 and AprilÌý3, 2021.
Ìý
(8)
±¬×ߺÚÁÏ-selected Measure is our
one-year
relative total shareholder return relative to the total shareholder return of the S&P 500 Consumer Discretionary Index companies over the same period, as described below (“rTSRâ€�). rTSR represents the most important financial measure (as determined by the ±¬×ߺÚÁÏ) used to link CAP to our named executive officers to ±¬×ߺÚÁÏ performance for the most recently completed fiscal year.
Ìý Ìý Ìý
±¬×ߺÚÁÏ Selected Measure Name Ìý Ìý Ìý Ìý one-year relative total shareholder return Ìý Ìý Ìý
Named Executive Officers, Footnote Ìý Ìý Ìý Ìý
(3)
The dollar amounts in this column represent the average of the amounts of total compensation reported for our named executive officers (“NEOsâ€�) as a group (excluding, as applicable, Mr.ÌýDarrell, who was appointed our PEO effective July 2023, Mr.ÌýDorer, who served as our Interim PEO from December 2022 to July 2023, and Mr.ÌýRendle, who had served as our PEO from January 2017 to December 2022) in the “Totalâ€� column of the Summary Compensation Table in each applicable year. NEOs included for purposes of calculating the average amounts in each applicable year are as follows: (i)Ìýfor 2024, Messrs. Puckett, Bailey, Scabbia Guerrini, and Hyder and Ms.ÌýOtto; (ii)Ìýfor 2023, Messrs. Puckett, Bailey and Scabbia Guerrini and Ms.ÌýOtto; (iii)Ìýfor 2022, Messrs. Puckett, Bailey, Scabbia Guerrini, Murray who served as our Global Brand President, The North Face until May 2022 and Roe who served as our Executive Vice President and Chief Financial Officer until May 2021; and (iv)Ìýfor 2021, Messrs. Roe, Bailey, Scabbia Guerrini and Murray.
Ìý Ìý Ìý
Peer Group Issuers, Footnote Ìý Ìý Ìý Ìý
(6)
For the relevant year, represents the cumulative TSR of the S&P 1500 Apparel, AccessoriesÌý& Luxury Goods Subindustry Index companies (“Peer Group TSRâ€�) for the
52-week
measurement periods ended on MarchÌý30, 2024, AprilÌý1, 2023 and AprilÌý2, 2022, and the
53-week
measurement period ended on AprilÌý3, 2021.
Ìý Ìý Ìý
Adjustment To PEO Compensation, Footnote Ìý Ìý Ìý Ìý
(2)
The dollar amounts reported in these columns represent the amount of “compensation actually paid� to Messrs. Darrell, Dorer and Rendle, as computed in accordance with Item 402(v) of Regulation
S-K
(“CAP�) in each applicable year. The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. In accordance with the requirements of Item 402(v) of Regulation
S-K,
the following adjustments were made to Messrs. Darrell, Dorer and Rendle’s total compensation for each applicable year to determine their respective CAP:
Ìý
YEAR
Ìý
2024
Ìý
PEO
Ìý Ìý Mr.ÌýDarrell Ìý
SCT Total compensation ($)
Ìý Ìý 13,535,399 Ìý
Less: Stock and Option Award Values Reported in SCT for the Covered Year ($)
Ìý Ìý (12,476,564 )Ìý
Plus: Fair Value for Stock and Option Awards Granted in the Covered Year ($)
Ìý Ìý 8,493,865 Ìý
Change in Fair Value of Outstanding Unvested Stock and Option Awards from Prior Years ($)
Ìý Ìý 0 Ìý
Change in Fair Value of Stock and Option Awards from Prior Years that Vested in the Covered Year ($)
Ìý Ìý 0 Ìý
Less: Fair Value of Stock and Option Awards Forfeited during the Covered Year ($)
Ìý Ìý 0 Ìý
Less: Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans ($)
Ìý Ìý 0 Ìý
Plus: Aggregate Service Cost and Prior Service Cost for Pension Plans ($)
Ìý Ìý 0 Ìý
Compensation Actually Paid ($)
Ìý Ìý 9,552,700 Ìý
Ìý
Ìý
YEAR
Ìý
2023
Ìý Ìý
2024
Ìý
Interim
PEO
Ìý Ìý Mr.ÌýDorer Ìý Ìý Ìý Mr.ÌýDorer Ìý
SCT Total compensation ($)
Ìý Ìý 3,037,566 Ìý Ìý Ìý 1,971,941 Ìý
Less: Stock and Option Award Values Reported in SCT for the Covered Year ($)
Ìý Ìý (2,000,001 )Ìý Ìý Ìý (660,766 )Ìý
Plus: Fair Value for Stock and Option Awards Granted in the Covered Year ($)
Ìý Ìý 1,614,491 Ìý Ìý Ìý 59,068 Ìý
Change in Fair Value of Outstanding Unvested Stock and Option Awards from Prior Years ($)
Ìý Ìý 0 Ìý Ìý Ìý 0 Ìý
Change in Fair Value of Stock and Option Awards from Prior Years that Vested in the Covered Year ($)
Ìý Ìý 72,966 Ìý Ìý Ìý (214,393 )Ìý
Less: Fair Value of Stock and Option Awards Forfeited during the Covered Year ($)
Ìý Ìý 0 Ìý Ìý Ìý 0 Ìý
Less: Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans ($)
Ìý Ìý 0 Ìý Ìý Ìý 0 Ìý
Plus: Aggregate Service Cost and Prior Service Cost for Pension Plans ($)
Ìý Ìý 0 Ìý Ìý Ìý 0 Ìý
Compensation Actually Paid ($)
Ìý Ìý 2,725,023 Ìý Ìý Ìý 1,155,850 Ìý
Ìý
YEAR
Ìý
2021
Ìý Ìý
2022
Ìý Ìý
2023
Ìý
Former PEO
Ìý Ìý Mr.ÌýRendle Ìý Ìý Ìý Mr.ÌýRendle Ìý Ìý Ìý Mr.ÌýRendle Ìý
SCT Total compensation ($)
Ìý Ìý 15,782,405 Ìý Ìý Ìý 15,423,153 Ìý Ìý Ìý 11,485,534 Ìý
Less: Stock and Option Award Values Reported in SCT for the Covered Year ($)
Ìý Ìý (10,557,728 )Ìý Ìý Ìý (10,289,370 )Ìý Ìý Ìý (9,917,497 )Ìý
Plus: Fair Value for Stock and Option Awards Granted in the Covered YearÌý($)
Ìý Ìý 16,607,593 Ìý Ìý Ìý 6,068,752 Ìý Ìý Ìý 0 Ìý
Change in Fair Value of Outstanding Unvested Stock and Option Awards from Prior Years ($)
Ìý Ìý 1,931,978 Ìý Ìý Ìý (7,137,206 )Ìý Ìý Ìý (5,793,073 )Ìý
Change in Fair Value of Stock and Option Awards from Prior Years that Vested in the Covered Year ($)
Ìý Ìý 1,799,652 Ìý Ìý Ìý (1,004,903 )Ìý Ìý Ìý (5,407,846 )Ìý
Less: Fair Value of Stock and Option Awards Forfeited during the Covered Year ($)
Ìý Ìý 0 Ìý Ìý Ìý 0 Ìý Ìý Ìý 0 Ìý
Less: Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans ($)
Ìý Ìý (899,800 )Ìý Ìý Ìý 0 Ìý Ìý Ìý 0 Ìý
Plus: Aggregate Service Cost and Prior Service Cost for Pension Plans ($)
Ìý Ìý 0 Ìý Ìý Ìý 0 Ìý Ìý Ìý 0 Ìý
Compensation Actually Paid ($)
Ìý Ìý 24,664,101 Ìý Ìý Ìý 3,060,425 Ìý Ìý Ìý (9,632,882 )Ìý
Ìý Ìý Ìý
Non-PEO NEO Average Total Compensation Amount Ìý Ìý Ìý Ìý $ 4,630,927 $ 4,588,662 $ 5,284,304 $ 4,244,022
Non-PEO NEO Average Compensation Actually Paid Amount Ìý Ìý Ìý Ìý $ 3,345,820 428,117 988,855 6,511,273
Adjustment to Non-PEO NEO Compensation Footnote Ìý Ìý Ìý Ìý
(4)
The dollar amounts reported in this column represent the average amount of CAP to the NEOs as a group (excluding, as applicable, Messrs. Darrell, Dorer and Rendle) in each applicable year. The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. The following adjustments were made to the average total compensation of the NEOs as a group (other than the PEO) for each year to determine the average amount of CAP to the NEOs (excluding, as applicable, Messrs. Darrell, Dorer and Rendle) in
each
applicable year:
Ìý
YEAR
Ìý
2021
Ìý Ìý
2022
Ìý Ìý
2023
Ìý Ìý
2024
Ìý
Non-PEO
NEOs
Ìý Ìý SeeÌýNoteÌý3 Ìý Ìý Ìý SeeÌýNoteÌý3 Ìý Ìý Ìý SeeÌýNoteÌý3 Ìý Ìý Ìý SeeÌýNoteÌý3 Ìý
SCT Total compensation ($)
Ìý Ìý 4,244,022 Ìý Ìý Ìý 5,284,304 Ìý Ìý Ìý 4,588,662 Ìý Ìý Ìý 4,630,927 Ìý
Less: Stock and Option Award Values Reported in SCT for the Covered Year ($)
Ìý Ìý (2,497,550 )Ìý Ìý Ìý (2,392,914 )Ìý Ìý Ìý (3,685,245 )Ìý Ìý Ìý (3,844,006 )Ìý
Plus: Fair Value for Stock and Option Awards Granted in the Covered Year ($)
Ìý Ìý 3,928,710 Ìý Ìý Ìý 1,472,971 Ìý Ìý Ìý 1,604,972 Ìý Ìý Ìý 3,275,505 Ìý
Change in Fair Value of Outstanding Unvested Stock and Option Awards from Prior Years ($)
Ìý Ìý 470,980 Ìý Ìý Ìý (1,518,935 )Ìý Ìý Ìý (1,401,368 )Ìý Ìý Ìý (637,645 )Ìý
Change in Fair Value of Stock and Option Awards from Prior Years that Vested in the Covered Year ($)
Ìý Ìý 505,663 Ìý Ìý Ìý (306,952 )Ìý Ìý Ìý (678,904 )Ìý Ìý Ìý (78,721 )Ìý
Less: Fair Value of Stock and Option Awards Forfeited during the Covered YearÌý($)
Ìý Ìý 0 Ìý Ìý Ìý 0 Ìý Ìý Ìý 0 Ìý Ìý Ìý 0 Ìý
Less: Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans ($)
Ìý Ìý (171,446 )Ìý Ìý Ìý (1,575,183 )Ìý Ìý Ìý (33,116 )Ìý Ìý Ìý (31,426 )Ìý
Plus: Aggregate Service Cost and Prior Service Cost for Pension Plans ($)
Ìý Ìý 30,895 Ìý Ìý Ìý 25,564 Ìý Ìý Ìý 33,116 Ìý Ìý Ìý 31,186 Ìý
Compensation Actually Paid ($)
Ìý Ìý 6,511,273 Ìý Ìý Ìý 988,855 Ìý Ìý Ìý 428,117 Ìý Ìý Ìý 3,345,820 Ìý
Ìý Ìý Ìý
Compensation Actually Paid vs. Total Shareholder Return Ìý Ìý Ìý Ìý
Ìý Ìý Ìý
Compensation Actually Paid vs. Net Income Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Compensation Actually Paid vs. ±¬×ߺÚÁÏ Selected Measure Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Total Shareholder Return Vs Peer Group Ìý Ìý Ìý Ìý
Ìý Ìý Ìý
Tabular List, Table Ìý Ìý Ìý Ìý
LIST OF FINANCIAL PERFORMANCE MEASURES USED TO LINK CAP FOR THE MOST RECENTLY COMPLETED FISCAL YEAR TO COMPANY PERFORMANCE
The financial performance metrics that, in our assessment, represent the most important financial performance measures we use to link CAP to our named executive officers for fiscal 2024 to VF’s performance are as follows:
Ìý
•
Ìý
One-year
relative total shareholder return (compared to the total shareholder return generated by the S&P 500 Consumer Discretionary Index companies over the same period);
Ìý
•
Ìý
Revenue; and
Ìý
•
Ìý
Operating Income.
Ìý Ìý Ìý
Total Shareholder Return Amount Ìý Ìý Ìý Ìý $ 30.81 44.13 103.36 141.12
Peer Group Total Shareholder Return Amount Ìý Ìý Ìý Ìý 128.2 131.21 166.43 197.11
Net Income (Loss) Ìý Ìý Ìý Ìý $ (968,880,000) $ 118,590,000 $ 1,386,940,000 $ 407,900,000
±¬×ߺÚÁÏ Selected Measure Amount | Percentile Ìý Ìý Ìý Ìý 2 0 12 5
Measure:: 1 Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Name Ìý Ìý Ìý Ìý One-year relative total shareholder return Ìý Ìý Ìý
Measure:: 2 Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Name Ìý Ìý Ìý Ìý Revenue Ìý Ìý Ìý
Measure:: 3 Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Name Ìý Ìý Ìý Ìý Operating Income Ìý Ìý Ìý
Mr. Darrell [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
PEO Total Compensation Amount Ìý Ìý Ìý Ìý $ 13,535,399 Ìý Ìý Ìý
PEO Actually Paid Compensation Amount Ìý Ìý Ìý Ìý 9,552,700 Ìý Ìý Ìý
PEO Name Ìý Ìý Mr. Darrell Ìý Ìý Ìý Ìý Ìý
Mr. Dorer [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
PEO Total Compensation Amount Ìý Ìý Ìý Ìý 1,971,941 $ 3,037,566 Ìý Ìý
PEO Actually Paid Compensation Amount Ìý Ìý Ìý Ìý 1,155,850 2,725,023 Ìý Ìý
PEO Name Mr. Dorer Mr. Dorer Ìý Ìý Ìý Ìý Ìý Ìý
Mr. Rendle [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
PEO Total Compensation Amount Ìý Ìý Ìý Ìý Ìý 11,485,534 $ 15,423,153 $ 15,782,405
PEO Actually Paid Compensation Amount Ìý Ìý Ìý Ìý Ìý (9,632,882) $ 3,060,425 $ 24,664,101
PEO Name Ìý Ìý Ìý Mr. Rendle Ìý Ìý Mr. Rendle Mr. Rendle
PEO | Mr. Darrell [Member] | Stock and Option Award Values [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Adjustment to Compensation, Amount Ìý Ìý Ìý Ìý (12,476,564) Ìý Ìý Ìý
PEO | Mr. Darrell [Member] | Fair Value for Stock and Option Awards Granted [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Adjustment to Compensation, Amount Ìý Ìý Ìý Ìý 8,493,865 Ìý Ìý Ìý
PEO | Mr. Darrell [Member] | Change in Fair Value of Outstanding Unvested Stock and Option Awards [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Adjustment to Compensation, Amount Ìý Ìý Ìý Ìý 0 Ìý Ìý Ìý
PEO | Mr. Darrell [Member] | Change in Fair Value of Stock and Option Awards that Vested [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Adjustment to Compensation, Amount Ìý Ìý Ìý Ìý 0 Ìý Ìý Ìý
PEO | Mr. Darrell [Member] | Fair Value of Stock and Option Awards Forfeited [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Adjustment to Compensation, Amount Ìý Ìý Ìý Ìý 0 Ìý Ìý Ìý
PEO | Mr. Darrell [Member] | Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Adjustment to Compensation, Amount Ìý Ìý Ìý Ìý 0 Ìý Ìý Ìý
PEO | Mr. Darrell [Member] | Aggregate Service Cost and Prior Service Cost for Pension Plans [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Adjustment to Compensation, Amount Ìý Ìý Ìý Ìý 0 Ìý Ìý Ìý
PEO | Mr. Dorer [Member] | Stock and Option Award Values [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Adjustment to Compensation, Amount Ìý Ìý Ìý Ìý (660,766) (2,000,001) Ìý Ìý
PEO | Mr. Dorer [Member] | Fair Value for Stock and Option Awards Granted [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Adjustment to Compensation, Amount Ìý Ìý Ìý Ìý 59,068 1,614,491 Ìý Ìý
PEO | Mr. Dorer [Member] | Change in Fair Value of Outstanding Unvested Stock and Option Awards [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Adjustment to Compensation, Amount Ìý Ìý Ìý Ìý 0 0 Ìý Ìý
PEO | Mr. Dorer [Member] | Change in Fair Value of Stock and Option Awards that Vested [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Adjustment to Compensation, Amount Ìý Ìý Ìý Ìý (214,393) 72,966 Ìý Ìý
PEO | Mr. Dorer [Member] | Fair Value of Stock and Option Awards Forfeited [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Adjustment to Compensation, Amount Ìý Ìý Ìý Ìý 0 0 Ìý Ìý
PEO | Mr. Dorer [Member] | Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Adjustment to Compensation, Amount Ìý Ìý Ìý Ìý 0 0 Ìý Ìý
PEO | Mr. Dorer [Member] | Aggregate Service Cost and Prior Service Cost for Pension Plans [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Adjustment to Compensation, Amount Ìý Ìý Ìý Ìý 0 0 Ìý Ìý
PEO | Mr. Rendle [Member] | Stock and Option Award Values [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Adjustment to Compensation, Amount Ìý Ìý Ìý Ìý Ìý (9,917,497) $ (10,289,370) $ (10,557,728)
PEO | Mr. Rendle [Member] | Fair Value for Stock and Option Awards Granted [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Adjustment to Compensation, Amount Ìý Ìý Ìý Ìý Ìý 0 6,068,752 16,607,593
PEO | Mr. Rendle [Member] | Change in Fair Value of Outstanding Unvested Stock and Option Awards [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Adjustment to Compensation, Amount Ìý Ìý Ìý Ìý Ìý (5,793,073) (7,137,206) 1,931,978
PEO | Mr. Rendle [Member] | Change in Fair Value of Stock and Option Awards that Vested [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Adjustment to Compensation, Amount Ìý Ìý Ìý Ìý Ìý (5,407,846) (1,004,903) 1,799,652
PEO | Mr. Rendle [Member] | Fair Value of Stock and Option Awards Forfeited [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Adjustment to Compensation, Amount Ìý Ìý Ìý Ìý Ìý 0 0 0
PEO | Mr. Rendle [Member] | Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Adjustment to Compensation, Amount Ìý Ìý Ìý Ìý Ìý 0 0 (899,800)
PEO | Mr. Rendle [Member] | Aggregate Service Cost and Prior Service Cost for Pension Plans [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Adjustment to Compensation, Amount Ìý Ìý Ìý Ìý Ìý 0 0 0
Non-PEO NEO | Stock and Option Award Values [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Adjustment to Compensation, Amount Ìý Ìý Ìý Ìý (3,844,006) (3,685,245) (2,392,914) (2,497,550)
Non-PEO NEO | Fair Value for Stock and Option Awards Granted [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Adjustment to Compensation, Amount Ìý Ìý Ìý Ìý 3,275,505 1,604,972 1,472,971 3,928,710
Non-PEO NEO | Change in Fair Value of Outstanding Unvested Stock and Option Awards [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Adjustment to Compensation, Amount Ìý Ìý Ìý Ìý (637,645) (1,401,368) (1,518,935) 470,980
Non-PEO NEO | Change in Fair Value of Stock and Option Awards that Vested [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Adjustment to Compensation, Amount Ìý Ìý Ìý Ìý (78,721) (678,904) (306,952) 505,663
Non-PEO NEO | Fair Value of Stock and Option Awards Forfeited [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Adjustment to Compensation, Amount Ìý Ìý Ìý Ìý 0 0 0 0
Non-PEO NEO | Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Adjustment to Compensation, Amount Ìý Ìý Ìý Ìý (31,426) (33,116) (1,575,183) (171,446)
Non-PEO NEO | Aggregate Service Cost and Prior Service Cost for Pension Plans [Member] Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Pay vs Performance Disclosure Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Adjustment to Compensation, Amount Ìý Ìý Ìý Ìý $ 31,186 $ 33,116 $ 25,564 $ 30,895