Definitive proxy statements

Pay vs Performance Disclosure

v3.24.0.1
Pay vs Performance Disclosure
 12 Months Ended
Dec. 30, 2023
USD ($)
$ / shares
Dec. 31, 2022
USD ($)
$ / shares
Jan. 01, 2022
USD ($)
$ / shares
Jan. 02, 2021
USD ($)
$ / shares
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
Value of Initial Fixed $100 Investment Based On:
Year(1)
(a)
Summary
Compensation
Table Total
for PEO(5)
(b)
Compensation
Actually Paid
to PEO(3)
(c)
Average Summary
CompensationTable Total for
Non-PEO NEOs(5)
(d)
Average CompensationActually Paid
to Non-PEO
NEOs(3)
(e)
 KTB Total
Shareholder
Return
(f)
S&P 1500
Apparel Retail
Index Total
Shareholder
Return(2)
(g)
 KTB GAAP Net Income ($)
(h)
KTB
Adjusted EPS(4)
(i)
2023 $9,941,061 $18,546,137 $2,717,892 $4,536,644 $169.98 $161.65 $230,994,000 $4.26
2022 $11,412,428 $10,073,865 $3,175,275 $3,019,955 $104.55 $130.00 $245,493,000 $4.49
2021 $9,979,870 $15,136,974 $2,375,813 $2,968,532 $127.77 $131.74 $195,423,000 $4.28
2020 $6,222,014 $5,245,625 $1,742,947 $1,477,039 $98.08 $112.02 $67,923,000 $2.61
     
Named Executive Officers, Footnote Our Chief Executive Officer, Scott H. Baxter, served as our Principal Executive Officer (“PEO”) in 2023, 2022, 2021 and 2020. Our other NEOs (“Non-PEO NEOs”) included:
a.For 2023, Joseph A. Alkire (who served for four months in 2023), Thomas L. Doerr, Jr, Thomas E. Waldron, Christopher M. Waldeck, and Rustin E. Welton.
b.For 2022, Thomas L. Doerr, Jr. (who served for seven months in 2022), Thomas E. Waldron, Christopher M. Waldeck, and Rustin E. Welton.
c.For 2021, Laurel E. Krueger (who served for eight months in 2021), Thomas E. Waldron, Christopher M. Waldeck, and Rustin E. Welton.
d.For 2020, Laurel E. Krueger, Thomas E. Waldron, Christopher M. Waldeck, and Rustin E. Welton.
2. 		     
PEO Total Compensation Amount $ 9,941,061 $ 11,412,428 $ 9,979,870 $ 6,222,014
PEO Actually Paid Compensation Amount $ 18,546,137 10,073,865 15,136,974 5,245,625
Adjustment To PEO Compensation, Footnote For each year, the values included in columns (c) and (e) for the compensation actually paid to our PEO and the average compensation paid to our non-PEO NEOs reflect the following adjustments to the values included in columns (b) and (d), respectively:
2023 2022 2021 2020
Reconciliation of Summary Compensation Totals and Compensation Actual Paid
PEO
Average Non-PEO NEOs
 PEO Average
Non-PEO
NEOs		 PEO Average
Non-PEO
NEOs		 PEO Average
 Non-PEO
NEOs
Summary Compensation Table Total (columns (b) and (d)) $9,941,061 $2,717,892 $11,412,428 $3,175,275 $9,979,870 $2,375,813 $6,222,014 $1,742,947
 +/- Net Change in Pension $0 $0 $0 $0 $0 $0 $0 $0
 +/- Net Change in Stock Awards $8,605,076 $1,818,752 $(1,338,563) $(155,320) $5,097,130 $593,381 $(832,067) $(244,350)
 +/- Net Change in Option Awards $0 $0 $0 $0 $59,974 $(662) $(144,322) $(21,558)
Compensation Actually Paid $18,546,137 $4,536,644 $10,073,865 $3,019,955 $15,136,974 $2,968,532 $5,245,625 $1,477,039
     
Non-PEO NEO Average Total Compensation Amount $ 2,717,892 3,175,275 2,375,813 1,742,947
Non-PEO NEO Average Compensation Actually Paid Amount $ 4,536,644 3,019,955 2,968,532 1,477,039
Adjustment to Non-PEO NEO Compensation Footnote For each year, the values included in columns (c) and (e) for the compensation actually paid to our PEO and the average compensation paid to our non-PEO NEOs reflect the following adjustments to the values included in columns (b) and (d), respectively:
2023 2022 2021 2020
Reconciliation of Summary Compensation Totals and Compensation Actual Paid
PEO
Average Non-PEO NEOs
 PEO Average
Non-PEO
NEOs		 PEO Average
Non-PEO
NEOs		 PEO Average
 Non-PEO
NEOs
Summary Compensation Table Total (columns (b) and (d)) $9,941,061 $2,717,892 $11,412,428 $3,175,275 $9,979,870 $2,375,813 $6,222,014 $1,742,947
 +/- Net Change in Pension $0 $0 $0 $0 $0 $0 $0 $0
 +/- Net Change in Stock Awards $8,605,076 $1,818,752 $(1,338,563) $(155,320) $5,097,130 $593,381 $(832,067) $(244,350)
 +/- Net Change in Option Awards $0 $0 $0 $0 $59,974 $(662) $(144,322) $(21,558)
Compensation Actually Paid $18,546,137 $4,536,644 $10,073,865 $3,019,955 $15,136,974 $2,968,532 $5,245,625 $1,477,039
     
Compensation Actually Paid vs. Company Selected Measure
Relationship Between Compensation Actually Paid and Performance Measures
Period Change in Compensation Actually
Paid to PEO		 Change in Average Compensation
Actually Paid to Other NEOs		 KTB Cumulative TSR Peer Group Cumulative TSR Change in KTB GAAP Net
Income		 Change in KTB Adjusted EPS
2020 to 2023
 254  % 207  % 70  % 62  % 240  % 63  %
•Relationship Between Compensation Actually Paid to our PEO and the Average of the Compensation Actually Paid to the Other NEOs and the Company’s Cumulative TSR. From 2020 to 2023, the compensation actually paid to our PEO and the average of the compensation actually paid to the Other NEOs increased by 254% and 207%, respectively, compared to the Company’s 70% cumulative TSR over the same time period.
•Relationship Between Compensation Actually Paid to our PEO and the Average of the Compensation Actually Paid to the Other NEOs and the Company’s Net Income. From 2020 to 2023, the compensation actually paid to our PEO and the average of the compensation actually paid to the Other NEOs increased by 254% and207%, respectively, compared to a 240% increase in our GAAP Net Income over the same time period.
•Relationship Between Compensation Actually Paid to our PEO and the Average of the Compensation Actually Paid to the Other NEOs and the Company’s Adjusted EPS. From 2020 to 2023, the compensation actually paid to our PEO and the average of the compensation actually paid to the Other NEOs increased by 254% and 207%, respectively, compared to a 63% increase in our Adjusted EPS over the same time period.
•Relationship Between the Company’s TSR and the Peer Group TSR. The cumulative TSR for the Peer Group disclosed in the table above was 62% from 2020 to 2023 as compared to the Company’s TSR, which was 70% over the same time period.
     
Tabular List, Table
 GAAP Revenue (as defined in “Compensation Discussion & Analysis—Components of Total Direct Compensation—Annual Cash Incentives”, described on page 41)
Gross Margin (as defined in “Compensation Discussion & Analysis—Components of Total Direct Compensation—Annual Cash Incentives”, described on page 41)
Operating Income (as defined in “Compensation Discussion & Analysis—Components of Total Direct Compensation—Annual Cash Incentives”, described on page 41)
Adjusted EPS (as defined in “Compensation Discussion & Analysis—Components of Total Direct Compensation—Long-Term Incentive Awards”, described on page 43)
      
Total Shareholder Return Amount $ 169.98 104.55 127.77 98.08
Peer Group Total Shareholder Return Amount 161.65 130.00 131.74 112.02
Net Income (Loss) $ 230,994,000 $ 245,493,000 $ 195,423,000 $ 67,923,000
Company Selected Measure Amount | $ / shares 4.26 4.49 4.28 2.61
PEO Name Scott H. Baxter Scott H. Baxter Scott H. Baxter Scott H. Baxter
Additional 402(v) Disclosure
3.The compensation actually paid amounts shown in this column differ from the amounts shown in the proxy statement filed in 2023, for the years ended 2022, 2021, and 2020, due to a correction in the methodology used to calculate compensation actually paid for our PEO and the average compensation paid to our non-PEO NEOs.
4.The Company has identified Adjusted EPS as the company-selected measure for the pay versus performance disclosure, representing the most important financial performance measure used to link compensation actually paid to the PEO and the other NEOs in 2023 to the Company's performance. See “Appendix B-Reconciliation of Adjusted Financial Measures” at the end of this document for a reconciliation to the most directly comparable GAAP measure.
     
PEO | Change in Pension Value [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 0 $ 0 $ 0 $ 0
PEO | Change in Stock Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 8,605,076 (1,338,563) 5,097,130 (832,067)
PEO | Change in Option Award [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 0 0 59,974 (144,322)
Non-PEO NEO | Measure:: 1        
Pay vs Performance Disclosure        
Name GAAP Revenue      
Non-PEO NEO | Measure:: 2        
Pay vs Performance Disclosure        
Name Gross Margin      
Non-PEO NEO | Measure:: 3        
Pay vs Performance Disclosure        
Name Operating Income      
Non-PEO NEO | Measure:: 5        
Pay vs Performance Disclosure        
Name Adjusted EPS      
Non-PEO NEO | Change in Pension Value [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 0 0 0 0
Non-PEO NEO | Change in Stock Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,818,752 (155,320) 593,381 (244,350)
Non-PEO NEO | Change in Option Award [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 0 $ 0 $ (662) $ (21,558)