VF Corp’s CEO Rendle Profits $3.3 Million from Stock Sale

2/20/19

By Samantha Schisler, NC Biz News

The CEO of VF Corp., an apparel, footwear and accessories company, profited $3.3 million by exercising stock options and selling almost 66,000 shares at $85.91 on Tuesday.

Steven Rendle exercised his stock options at $36 and then sold 65,988 shares in the market at an average price $85.91, according to the Form 4filed with the Securities and Exchange Commission.

Rendle, who is the chairman, president and CEO, now directly owns 31,383 shares of common stock in the company worth more than $2.7 million in the current market.

VF outfits consumers with iconic lifestyle brands that include Vans, The North Face, Timberland LLC, Wrangler, and Lee Company. The $12 billion apparel, footwear and accessory company serve customers in over 170 countries.

The Greensboro-based company was founded in October 1899 in Pennsylvania as the Reading Glove and Mitten Manufacturing Company by John Barbey. Today, the company has acquired 20+ lifestyle brands.

Rendle was appointed CEO in January 2017. Prior to being named CEO, he was president & chief operating officer, overseeing all of VF’s business coalitions worldwide: outdoor & action sports, jeanswear, imagewear and sportswear.

In January, the company saw its shares skyrocket after reporting third-quarter results that beat expectations. That story can be found here.

The company’s stock price is down 43 cents Wednesday afternoon to $86.30.

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