UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 15, 2020
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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 June 15, 2020, Fossil Group, Inc. (the “Company”) appointed Mr. Sunil M. Doshi, age 48, as Senior Vice President, Global Finance and Accounting, and Chief Accounting Officer of the Company. From February 2019 to June 5, 2020, Mr. Doshi served as Chief Financial Officer of Mitra QSR, the third largest domestic franchisee of KFC restaurants. From October 2015 to January 2019, Mr. Doshi served as Chief Financial Officer of Zoes Kitchen. From February 2014 to October 2015, Mr. Doshi served as Chief Financial Officer, Americas Region of the Company. He also served as Vice President, Global Retail of the Company from February 2012 to February 2014.
Mr. Doshi will be paid an annual base salary of $440,000 and benefits consistent with the Company’s executive compensation policies. In addition, on July 15, 2020, Mr. Doshi will receive a grant of 40,000 restricted stock units pursuant to the Company’s 2016 Long-Term Incentive Plan in connection with his appointment. One third of the award will vest annually on July 15 in each of 2021, 2022 and 2023, provided that Mr. Doshi is continuously employed by the Company from and after the award date and through each such anniversary date. Mr. Doshi will also receive a sign on bonus of $93,500 and a guaranteed cash bonus in March 2021 of $120,000, provided that Mr. Doshi is continuously employed by the Company until the date of payment.
There are no arrangements or understandings between Mr. Doshi and any other persons pursuant to which Mr. Doshi was named Senior Vice President, Global Finance and Accounting, and Chief Accounting Officer of the Company. Mr. Doshi does not have any family relationship with any of the Company’s directors or executive officers or any persons nominated or chosen by the Company to be a director or executive officer. Mr. Doshi does not have any direct or indirect material interest in any transaction or proposed transaction required to be reported under Item 404(a) of Regulation S-K.
A copy of the press release announcing Mr. Doshi’s appointment as Senior Vice President, Global Finance and Accounting, and Chief Accounting Officer of the Company is attached hereto as Exhibit 99.1 and is incorporated into this Item 5.02 by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. | Document Description |
99.1 | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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: June 16, 2020 | ||
FOSSIL GROUP, INC. | ||
By: | /s/ JEFFREY N. BOYER | |
Name: | Jeffrey N. Boyer | |
Title: | Chief Operating Officer, Chief Financial Officer and Treasurer | |