Kontoor Brands, Inc. filed a Form 8-K on November 12, 2026, disclosing that it entered into accelerated share repurchase agreements with financial institutions on November 11, 2026, to repurchase $400 million of its common stock.

Key Highlights

  • Total repurchase value: $400 million in accelerated share repurchase agreements signed November 11, 2026, with financial institution dealers.
  • Payment date: The company will make a total payment of $400 million to the dealers on November 12, 2026.
  • Initial share delivery: Approximately 4.0 million shares expected to be received initially, representing 80% of the dollar amount of the agreements based on the November 11, 2026 closing share price.
  • Existing authorization: The agreements will be completed under the company's existing $750 million share repurchase authorization.
  • Final settlement timing: Final settlement of the transactions is expected to occur in the first half of 2027.
  • Context: The repurchase is consistent with the company's previously announced intention to undertake a $400 million accelerated share repurchase following the closing of the Lee business divestiture.

Kontoor Brands Enters $400 Million ASR Tied to Lee Business Divestiture

According to the filing, Kontoor Brands, Inc. (NYSE:KTB) entered into accelerated share repurchase agreements with financial institutions on November 11, 2026. The company disclosed that the agreements are "consistent with the Company's previously announced intention to undertake a $400 million accelerated share repurchase following the closing of the Lee business divestiture." The repurchase will be conducted under the company's existing $750 million share repurchase authorization.

The filing states that on November 12, 2026, the company will make a total payment of $400 million to the dealers. In exchange, it expects to receive an initial delivery of approximately 4.0 million shares of its common stock. The filing notes this initial delivery represents 80% of the dollar amount of the agreements, calculated based on the November 11, 2026 closing share price.

The final number of shares to be repurchased, the company disclosed, "will be based on the volume-weighted average price of the Company's common stock during the term of the ASR Agreements, less a discount and subject to customary adjustments." Final settlement of the transactions under the agreements is expected to occur in the first half of 2027. The filing was signed by Thomas L. Doerr, Jr., Executive Vice President, Chief Legal Officer and Secretary of Kontoor Brands.

What Was Disclosed

Kontoor Brands disclosed entry into $400 million accelerated share repurchase agreements with financial institutions on November 11, 2026, with an initial delivery of approximately 4.0 million shares expected and final settlement anticipated in the first half of 2027.