Cassandra E. Harris
GENESCOAbout Cassandra E. Harris
Cassandra “Sandra” E. Harris, 52, is Senior Vice President – Finance and Chief Financial Officer of Genesco Inc., appointed effective October 7, 2024; she began employment October 1, 2024 and became principal accounting officer on December 12, 2024. She holds a B.S. in Accounting from Clemson University and is a CPA and CGMA, with prior senior finance and operations roles at VF Corporation and Tupperware, and most recently served as CFO of Artisan Design Group . Company performance context during her initial period: in FY2025 the Corporate PSU metric (adjusted operating income) achieved 76.3% of target while Journeys achieved 190.4%; Genesco’s TSR for the five-year measurement series was $106 vs. peer group $75; FY2025 net loss was $19M and change in EVA was +$10M .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Artisan Design Group | Chief Financial Officer | 2023–2024 | Led finance at a nationwide interior finishes installer; public-company CFO experience foundation . |
| Tupperware Brands | CFO; then CFO & COO | 2019–2022 | Drove omnichannel transformation of a direct seller; senior P&L/operations scope . |
| VF Corporation | Multiple senior leadership roles incl. CFO for DTC, Global Supply Chain; CIO | 2008–2019 | Drove >40% retail growth across platforms; expanded ~2,500 doors; led digital-first/technology transformation and shared services agility . |
External Roles
No public company directorships disclosed for Harris .
Fixed Compensation
| Component | FY2025 Detail |
|---|---|
| Base salary | $600,000 annual rate (pro-rated in FY2025 given October start) . |
| Target annual bonus | 75% of base salary (pro-rated for FY2025 entry) . |
| Actual bonus paid (EVA Plan) | $75,000 for FY2025 . |
| One-time RSAs (grant-date FV) | $284,514 granted Oct 1, 2024 (10,644 shares) . |
| Perquisites/Other | $36,476 total in FY2025, including $6,000 401(k) match, $80 life insurance premium, and $25,000 relocation/lodging stipend . |
| Deferred comp election | $9,000 salary deferred in FY2025 . |
Performance Compensation
Annual Incentive (EVA Plan)
| Item | Corporate (Harris’s business unit) FY2025 |
|---|---|
| Structure | 75% weighting on EVA change; 25% on EVA change × individual strategic goals (no adjustments applied in FY2025) . |
| Target EVA Improvement (EI) | $21,364,000 . |
| EVA change (actual) | $9,778,000 . |
| Payout multiple | 0.50x target (Corporate) . |
| Result for Harris | Pro-rated EVA bonus paid $75,000 for FY2025 . |
Notes: For FY2025, Corporate unit bonuses paid at 50% of target; Journeys unit paid at 130% of target .
Long-Term Incentives
- RSAs: Granted 10,644 shares on Oct 1, 2024 (grant-date fair value $284,514); vest in two equal installments on Oct 1, 2025 and Oct 1, 2026, subject to continued employment .
- PSUs: Harris did not receive PSUs in FY2025; beginning FY2026, she is eligible for LTI equal to 150% of salary split 50% RSAs / 50% PSUs, subject to committee approval .
PSU plan design context for FY2025 (other NEOs): performance metric was adjusted operating income by business unit for one year; Corporate payout 76.3% of target; Journeys 190.4% .
Equity Ownership & Alignment
| Metric | Amount |
|---|---|
| Total beneficial ownership | 25,604 shares as of April 28, 2025 . |
| Ownership as % of shares outstanding | ~0.24% (25,604 / 10,779,524) . |
| Unvested RSAs | 10,644 shares (vest 5,322 on 10/1/2025 and 5,322 on 10/1/2026) . |
| Options (exercisable / unexercisable) | None . |
| PSUs outstanding | None (Harris did not receive FY2025 PSUs) . |
| Stock ownership guideline (CFO) | 20,000 shares; executives have 5 years to comply . |
| Compliance status | Executive officers complied or were within window; Harris’s 25,604 shares exceed the 20,000-share CFO guideline . |
| Hedging/Pledging | Anti-hedging policy for directors/officers; no pledging disclosure in proxy . |
Vesting overhang and potential selling pressure: 5,322 shares on 10/1/2025 and 5,322 on 10/1/2026 from her initial RSA grant may create discrete windows of liquidity upon vest, subject to trading policies .
Employment Terms
| Scenario | Cash severance | Bonus treatment | Equity | Benefits/COBRA | Tax gross-up | Source |
|---|---|---|---|---|---|---|
| Involuntary termination without Cause (no Change of Control) | $600,000 (12 months base) | — | Accelerated equity value est. $55,415 | COBRA premiums ~$11,228 (12 months) | None | |
| Change of Control + qualifying termination (double trigger; awards assumed) | $1,200,000 (24 months base) | $150,000 (2x average of last two annual bonuses) | Accelerated equity value est. $443,323 | Benefits value est. $122,950 | None |
Additional governance protections:
- Clawback: Amended and Restated Compensation Recoupment Policy compliant with Rule 10D-1; mandatory recovery on qualifying restatements (no misconduct required) .
- Anti-hedging policy: Prohibits hedging transactions by directors/officers .
Performance & Track Record
- FY2025 operations context: Corporate EVA bonus paid at 0.5x target; Journeys at 1.3x, reflecting mixed performance across units .
- FY2025 PSU outcomes (context, Harris did not receive PSUs): Corporate adjusted operating income achieved 76.3% of target; Journeys achieved 190.4% .
- Pay-versus-performance context: For FY2025, Genesco TSR value of $100 invested over the measurement period was $106 vs. peer group $75; net loss $19M; change in EVA +$10M .
Compensation Structure Analysis
- Mix and leverage: Harris’s FY2025 compensation was predominantly fixed cash (pro-rated salary) plus a time-vested RSA; no PSUs in FY2025, but from FY2026 she is eligible for a 50% PSU mix aligning future LTI more directly with performance .
- Pay-for-performance alignment: Corporate EVA payout at 0.5x produced a modest annual cash bonus ($75,000), consistent with the plan’s design and company results .
- Governance quality: No excise tax gross-ups for agreements entered after FY2020; anti-hedging and clawback policies in place; strong ownership guideline framework (CFO: 20,000 shares) .
Say‑on‑Pay & Shareholder Feedback
- Say-on-pay approval: 92.2% support at the 2024 annual meeting; the committee monitors investor feedback and targets base salaries at/below market median with at‑risk incentives .
Equity Plan and Vesting Schedules (Detail)
| Grant | Type | Shares/Units | Fair value | Vesting |
|---|---|---|---|---|
| 10/1/2024 | RSAs | 10,644 | $284,514 | 50% on 10/1/2025; 50% on 10/1/2026 (continued employment) . |
Related Party Transactions and Compliance
- No related-party transactions requiring disclosure were identified; Section 16 filings substantially timely (one clerical correction noted for another officer); insider trading policy governs dispositions .
Investment Implications
- Alignment: Harris exceeds CFO share ownership guidelines early in tenure and is subject to anti-hedging and clawback policies, indicating strong alignment and governance safeguards .
- Incentive risk/reward: FY2025 bonus paid at 0.5x corporate target underscores sensitivity to EVA; expected introduction of PSUs to her LTI from FY2026 should increase performance linkage (operating income focus) .
- Overhang/flow: Two RSA vesting dates (Oct 2025 and Oct 2026) represent defined windows for potential share supply from vesting, subject to trading windows and any 10b5-1 plans .
- Retention and CoC economics: Without CoC, severance equals 12 months’ salary with limited equity acceleration; under double-trigger CoC, 2x salary plus bonus average and full acceleration of her unvested equity are modest compared to market, balancing retention with shareholder protections (no gross-up) .
- Execution context: Mixed FY2025 outcomes (Corporate vs Journeys) and modest corporate PSU achievement emphasize operational execution risk; as CFO, Harris’s future PSU mix should tie her realized pay more directly to profitability improvements and capital efficiency (EVA) .