UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On December 30, 2022, the Compensation and Talent Management Committee (the “Committee”) of the Board of Directors of Fossil Group, Inc. (the “Company”) approved a base salary of $1,100,000 for Mr. Kosta N. Kartsotis, the Company's Chairman of the Board and Chief Executive Officer (“CEO”). Mr. Kartsotis has served as CEO since October 2000 and Chairman of the Board since May 2010. Mr. Kartsotis will be eligible to participate in the Company's 2020 Cash Incentive Plan for the 2023 fiscal year with a target bonus percentage of 130%. The Committee did not approve any equity grants under the Company's long-term incentive plan for Mr. Kartsotis at this time. Mr. Kartsotis is an at-will employee of the Company and is eligible for the same health and welfare benefit programs as the Company's other U.S. employees as well as perquisites disclosed in the Company’s proxy statement on Schedule 14A filed with the Securities and Exchange Commission on April 7, 2022.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: December 30, 2022 | ||
FOSSIL GROUP, INC. | ||
By: | /s/ Sunil M. Doshi | |
Sunil M. Doshi | ||
Executive Vice President, Chief Financial Officer and Treasurer |