Joseph Alkire
Executive Vice President, Chief Financial Officer & Global Head of Operations at Kontoor Brands
Executive
About Joseph Alkire
Joseph A. Alkire, 45, serves as Executive Vice President, Chief Financial Officer (CFO) and Global Head of Operations at Kontoor Brands. He has served as CFO since August 2023 and his role was expanded in July 2025; he is the company’s Principal Financial Officer . Alkire holds an MBA from The University of Chicago Booth School of Business and a bachelor’s degree in Business from Indiana University’s Kelley School of Business . Company performance framing compensation: FY2024 Operating Cash Flow was $368M (+$11M YoY), Adjusted EPS $4.36 (+7% YoY), and shareholder returns included $112M dividends and $86M buybacks . FY2024 AIP paid at 169.5% of target , while the FY2022–FY2024 PRSU cycle paid at 56.3% after a +25% rTSR modifier (Kontoor TSR 92.16%, 94.74th percentile) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| BrüMate, Inc. | Chief Operating Officer and Chief Financial Officer | Not disclosed | Growth-stage beverage accessories; operational and financial leadership |
| V.F. Corporation | Vice President, Corporate Development, Treasury, and Investor Relations | Not disclosed | Capital allocation, M&A, liquidity, and investor communications |
| William Blair & Company | Investment Banking and Equity Research Analyst | Not disclosed | Capital markets and fundamental analysis foundation |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| None disclosed | — | — | Proxy biography does not list current public company directorships |
Fixed Compensation
| Component | FY2024 Value | Notes |
|---|---|---|
| Base Salary | $715,750 | FY2024 base set by Committee review |
| AIP Target (as % of Salary) | 75% | FY2024 design metrics: Revenue 20%, Gross Margin % 40%, Operating Income 40% |
| AIP Target ($) | $540,750 | 75% of $721,000 FY2024 base used for AIP calc |
| AIP Performance Factor | 169.5% | Based on FY2024 performance vs goals |
| AIP Award (Actual) | $916,571 | Paid on or about Mar 7, 2025 |
| All Other Compensation (FY2024) | $387,232 | Includes EDSP II match $31,462 and 401(k) match $26,179 |
| Compensation Changes (Effective Dates) | New Value | Details |
|---|---|---|
| Base Salary (retro to Aug 1, 2025) | $800,000 | Increased from $750,000 |
| Annual Cash Incentive Target (retro to Aug 1, 2025) | 100% of base salary | Increased from 85% |
| Long-Term Incentive Target (effective 2026) | $1,700,000 | Increased from $1,350,000 |
Performance Compensation
| PRSU Design (FY2024 grant for 2024–2026 cycle) | Weighting | Payout Range | rTSR Modifier |
|---|---|---|---|
| Adjusted EPS | 60% | 0–200% of target | +/-25% by percentile vs peer group |
| Revenue | 40% | 0–200% of target | +/-25% |
| Relative TSR | — | — | Modifier schedule: +25% at >75th percentile; -25% below 25th percentile |
| AIP Metrics (FY2024) | Weighting | Notes |
|---|---|---|
| Revenue | 20% | Aligns to sales growth strategy |
| Gross Margin % | 40% | Elevated weighting in FY2024 |
| Operating Income | 40% | Profitability focus |
| Grants of Plan-Based Awards (FY2024) | Threshold | Target | Maximum | Grant Date Fair Value |
|---|---|---|---|---|
| AIP (cash) | $270,375 | $540,750 | $1,081,500 | — |
| PRSUs (shares) | 6,340 | 12,679 | 28,528 | $837,829 |
| RSUs (shares) | — | 8,453 | — | $510,139 |
| FY2022–FY2024 PRSU Outcome | Financial Payout | rTSR Modifier | Final Payout |
|---|---|---|---|
| Cycle Result | 31.3% (Operating Cash Flow & Adjusted EPS performance) | +25.0% (Kontoor TSR 92.16%, 94.74th percentile) | 56.3% of target |
| Vesting Schedules | Terms |
|---|---|
| RSUs | Vest ratably in 33% annual installments over 3 years; FY2024 RSUs vest in 2025, 2026, 2027 |
| PRSUs | Earned shares vest/issue at end of 3-year cycle (2024–2026) with rTSR modifier |
Equity Ownership & Alignment
| Beneficial Ownership (as of Feb 13, 2025) | Shares | % of Class |
|---|---|---|
| Joseph A. Alkire | 8,165 | <1.0% (star denoted in proxy) |
| Included in calculation within 60 days | 2,874 RSUs; 0 options | Counted toward beneficial ownership per proxy method |
| Outstanding Equity Awards at FY-End 2024 | Grant Date | Unvested RSUs (#) | Market Value ($) | Unearned PRSUs (#) | Payout/Market Value ($) |
|---|---|---|---|---|---|
| RSUs | 9/15/2023 | 3,806 | $324,273 | — | — |
| RSUs | 9/15/2023 | 7,166 | $610,454 | — | — |
| RSUs | 4/01/2024 | 8,622 | $734,491 | — | — |
| PRSUs | 9/15/2023 | — | — | 8,256 | $703,329 |
| PRSUs | 9/15/2023 | — | — | 20,721 | $1,765,222 |
| PRSUs | 4/01/2024 | — | — | 12,679 | $1,080,124 |
| Ownership Policies | Requirement | Status/Notes |
|---|---|---|
| Executive Stock Ownership Guideline | 3x base salary for NEOs | All currently serving NEOs in compliance with retention requirements and have either met or are making progress toward guidelines (as of Dec 28, 2024) |
| Anti-Hedging & Anti-Pledging | Hedging, margin accounts, and pledging prohibited for directors and executive officers | Risk-mitigating policy reducing misalignment risk |
| Deferred Compensation (EDSP II, FY2024) | Executive Contribution | Company Match | Aggregate Earnings | Aggregate Balance |
|---|---|---|---|---|
| Joseph A. Alkire | $53,371 | $31,462 | $5,120 | $106,623 |
Perquisites and gross-ups (FY2024): annual physical ($7,405) with tax gross-up ($3,255); financial planning ($23,997) with tax gross-up ($10,547); relocation ($296,966) with tax gross-up ($85,971) . Note: Company policy otherwise prohibits excise tax gross-ups; perquisite tax gross-ups are disclosed and a governance sensitivity .
Employment Terms
| Contractual Landscape | Key Terms |
|---|---|
| Employment Agreements | None; executives do not have employment contracts |
| Clawback Policy | Recovery of incentive compensation upon accounting restatements or misconduct; equity and cash incentives subject to recoupment |
| Change-in-Control Agreements | Double-trigger; 2-year term with auto 12-month extensions; 2.99x salary + highest bonus (not less than target), pro-rata AIP, accelerated vesting of equity, continued benefits; parachute cutback to avoid excise tax if beneficial |
| Potential Payments Upon Change in Control (Assuming event on Dec 28, 2024) | Severance Amount | Bonus | Unvested RSU/PRSU Awards | Benefit Continuation | Total |
|---|---|---|---|---|---|
| Joseph A. Alkire | $4,896,338 | $916,571 | $5,217,893 | $59,126 | $11,089,928 |
| Treatment of Equity Awards (Termination Scenarios) | RSUs | PRSUs |
|---|---|---|
| Death/Disability | Vest in full (if >1 year since grant) | Settled to extent actually earned; value at target shown until cycle completion |
| Without Cause (pre-CIC) | Pro rata portion vests (if >1 year since grant) | Pro rata based on cycle participation and severance period |
| For Cause/Resignation (non-retirement) | Forfeit unvested | Forfeit |
| Post-CIC qualifying termination | Accelerated vesting per CIC Agreement | Vest based on actual/target per CIC terms; full vest without proration |
Company Performance Context (for Pay-Performance Analysis)
| Metric | FY2022 | FY2023 | FY2024 |
|---|---|---|---|
| Revenues ($USD) | $2,631.4M | $2,607.5M | $2,607.6M |
| EBITDA ($USD) | $407.5M* | $373.0M* | $424.9M* |
Values retrieved from S&P Global*.
Additional pay-versus-performance context: KTB Total Shareholder Return value of initial $100 investment was $238.47 in 2024; GAAP net income $245.8M; Adjusted EPS $4.89 (company-selected measure for CAP disclosure) .
Trading and Vesting Considerations
- RSU vesting cadence in equal annual installments over three years creates predictable potential selling windows (FY2024 grants vest in 2025, 2026, 2027) .
- FY2024 PRSU cycle (2024–2026) settles at end of cycle with rTSR modifier; payout sensitivity to multi-year revenue and Adjusted EPS trajectory and relative TSR percentile could amplify award outcomes .
- Corporate policy prohibits hedging and pledging, reducing forced-selling or collateral risks .
Investment Implications
- Pay-for-performance alignment: AIP emphasis on profitability (Gross Margin and Operating Income at 80% combined) and PRSUs driven by Adjusted EPS/Revenue with rTSR modifier suggest strong linkage to value creation; FY2024 AIP payout at 169.5% reflects operational outperformance, while FY2022–FY2024 PRSU payout of 56.3% tempers realized long-term equity outcomes, signaling balanced incentive calibration .
- Retention and at-risk pay: 2025 increases to base, bonus target (to 100% of salary), and LTI target (effective 2026) elevate at-risk compensation, supporting retention and signaling confidence in Alkire’s expanded CFO/Global Ops role .
- Selling pressure watchouts: RSU tranches vest annually over three years; monitor vesting dates and potential insider Form 4 activity around April 1 cycles and anniversary dates to assess near-term supply impacts .
- Governance strengths and red flags: Strong ownership guidelines (3x salary), anti-hedging/anti-pledging, double-trigger CIC, and robust clawback are positives ; tax gross-ups on certain perquisites (physical, financial planning, relocation) merit attention for shareholder-friendliness optics .
- Capital allocation backdrop: Ongoing dividends and buybacks, with November 2025 dividend increased to $0.53 per share, support TSR and may enhance PRSU outcomes if sustained; consider tariff and supply chain initiatives detailed in outlook when forecasting metric attainment .