Dana Perlman
G III APPAREL GROUP LTD /DE/About Dana Perlman
Dana Perlman, age 44, is Chief Growth and Operations Officer at G‑III (joined January 8, 2024) with 1 year of tenure in fiscal 2025; she previously served over a decade at PVH, including Chief Strategy Officer and Treasurer (May 2021–July 2022), and earlier roles in investment banking at Barclays, Lehman Brothers, and Credit Suisse First Boston . She holds a BBA from the University of Michigan’s Ross School of Business and is currently a director of O’Reilly Automotive (ORLY); she previously served on the board of Sigma Lithium (SGML) . Company performance during her tenure included net sales of $3.2B, adjusted EBITDA of $326M, non‑GAAP net income of $204M, and non‑GAAP diluted EPS of $4.42 in fiscal 2025, with gross margin expanding ~70 bps to 40.8%; TSR outperformed the S&P 1500 Apparel, Accessories & Luxury Goods Index over 1, 3, and 5 years through Jan 31, 2025 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| PVH Corp. | Chief Strategy Officer & Treasurer | May 2021 – Jul 2022 | Led global business strategy and development, treasury, IR; executed M&A/JV buybacks (China, Ethiopia, Australia); divested Bass, Speedo, Heritage Brands . |
| PVH Corp. | Various executive roles | 2012 – 2022 | Drove strategic activity and transformation across PVH over >10 years . |
| Barclays Capital; Lehman Brothers; Credit Suisse First Boston | Investment banking (retail groups) | Not disclosed | Retail sector transaction experience; finance and advisory foundation . |
External Roles
| Organization | Role | Status/Years | Notes |
|---|---|---|---|
| O’Reilly Automotive, Inc. (ORLY) | Director | Current | Public company board director . |
| Sigma Lithium Corp. (SGML) | Director | Prior | Former public company board director . |
Fixed Compensation
| Component | FY2024 | FY2025 | Details |
|---|---|---|---|
| Base Salary ($) | $14,423 | $750,000 | FY2024 partial (start in Jan 2024); FY2025 full‑year base . |
| Sign‑On Bonus ($) | — | $500,000 | Earned after 6 months per employment agreement; repay if leave within 12 months without good reason or for cause . |
| Perquisites/Benefits ($) | — | $9,231 (401k match) | 401(k) plan matching per policy . |
Performance Compensation
Annual Cash Incentive – FY2025
| Metric | Weighting | Target | Actual | Payout Mechanics | FY2025 Payout |
|---|---|---|---|---|---|
| Adjusted Pre‑Tax Income vs. Budget | 60% (Perlman program) | $238.0M | $280.0M | Drives portion of payout; for other NEOs, this component funded at 200% of target; Perlman’s plan includes individual factor . | |
| Individual Performance | 40% (Perlman program) | N/A | Strong | Assessed on management oversight, strategy, acquisitions (Comp Committee review) . | |
| Overall Annual Cash Incentive | — | Target $750,000 | — | Based on 60% company pre‑tax vs budget + 40% individual performance; no discretionary adjustments . | $1,000,000 |
Equity Awards and Vesting
| Award Type | Grant Date | Shares/Value | Vesting Terms | Status/Outstanding |
|---|---|---|---|---|
| Initial RSU grant | Within 30 days of Start Date | $300,000 value | 3‑year cliff | Granted in FY2024 under agreement . |
| Time‑based RSUs | Jan 9, 2024 (effective) | 9,490 RSUs | Cliff vest Jan 9, 2027 | Unvested; market value $296,278 at $31.22 as of Jan 31, 2025 . |
| Options | — | — | — | None outstanding for NEOs at FYE 2025 . |
Multi‑Year NEO Compensation (Dana Perlman)
| Metric | FY2024 | FY2025 |
|---|---|---|
| Salary ($) | $14,423 | $750,000 |
| Bonus/Non‑Equity Incentive ($) | — | $1,000,000 |
| Stock Awards ($) | $299,979 | — |
| Sign‑On Bonus ($) | — | $500,000 |
| All Other Compensation ($) | — | $9,231 |
| Total ($) | $314,402 | $2,259,231 |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership (Shares) | 0 as of April 17, 2025 . |
| Ownership % of Outstanding | 0% (43,293,099 shares outstanding) . |
| Unvested RSUs | 9,490 (vest Jan 9, 2027) . |
| Options (Exercisable/Unexercisable) | None outstanding at FYE 2025 . |
| Pledging/Hedging | Prohibited; none of executives have pledged company stock . |
| Stock Ownership Guidelines | All other NEOs: 1x annual base salary; retain 50% of after‑tax shares until met . |
| Compliance Status | Making progress toward guidelines (new executive hired Jan 2024) . |
Employment Terms
| Term | Provision |
|---|---|
| Start Date | January 8, 2024 . |
| Base Salary | $750,000 per year; not to be decreased . |
| Annual Bonus Target | Up to 2x salary; 60% pre‑tax income vs budget and 40% individual performance . |
| Initial Equity | RSU grant valued at $300,000, 3‑year cliff vest . |
| Severance (Without Justifiable Cause or Good Reason) | 12 months of salary and benefits, subject to release; non‑compete, non‑solicit compliance . |
| Non‑Compete/Non‑Solicit | 12‑month non‑compete in apparel/footwear/handbags; 12‑month non‑solicit of employees; worldwide scope aligned to Company business; blue‑pencil provision . |
| Arbitration | Mandatory arbitration (JAMS Employment Arbitration Rules); confidentiality; class/collective waiver . |
| Clawback | 3‑year recoupment for restatements per SEC/NASDAQ rules . |
| Insider Trading / 10b5‑1 | Blackout periods; cooling‑off periods (90–120 days for directors/Section 16 officers); anti‑hedging/anti‑pledging . |
| Equity Acceleration on Change in Control | Double‑trigger acceleration if awards assumed and employment terminated within two years; accelerate if awards not assumed . |
Investment Implications
- Alignment and pay‑for‑performance: Annual incentive structure ties 60% to profitability (adjusted pre‑tax income) and 40% to role‑specific execution, reinforcing focus on earnings quality and strategic delivery; FY2025 payout of $1.0M signals strong performance integration in first year .
- Retention anchors and potential selling pressure: Unvested RSUs cliff‑vest January 2027, providing retention; anticipate potential insider selling pressure near 2027 vest date subject to trading windows and 10b5‑1 plans .
- Ownership build and alignment trajectory: Current beneficial ownership is zero; stock ownership guidelines require 1x salary with 50% net‑share retention until met—Company notes she is progressing (newly hired), which should increase future alignment .
- Governance risk mitigants: Anti‑hedging/pledging, clawback policy, double‑trigger equity treatment on change‑in‑control, and mandatory arbitration with confidentiality reduce headline and governance risks; no pledging and robust insider trading controls lower forced‑sale/credit risk .
- Company performance backdrop: Fiscal 2025 strength (net sales $3.2B; adjusted EBITDA $326M; non‑GAAP net income $204M; gross margin +70 bps) and TSR outperformance provide favorable tailwinds for incentive realization and strategic initiatives under her remit (strategy, finance, IT, operations) .