01—Abstract
Summary
Summary of the 8-K filed April 6, 2026. Cited figures are marked; the original filing is the authoritative source.
Tapestry, Inc. (NYSE: TPR) filed this Current Report on Form 8-K dated April 6, 2026, to disclose a board change.
On April 6, 2026, the Board increased its size from ten to eleven members and elected Matthew (Matt) Madrigal as a director, effective the same day. The filing states that the appointment brings the Board to eleven members, including ten independent directors. Mr. Madrigal is Chief Technology Officer of Pinterest, Inc., and the filing describes his background in technology, e-commerce, and consumer engagement, including prior roles at Google, Fanatics, Williams-Sonoma, and eBay.
Under the Company's standard non-employee director compensation arrangements, Mr. Madrigal will receive an annual cash retainer of $100,000a and an annual equity grant with a grant-date fair market value of $200,000, paid entirely in restricted stock units (RSUs) on the date of the annual stockholders meeting. Those annual awards vest in full one year after grant, subject to continued service. He will also receive an initial equity award with a grant-date fair market value of $200,000 on April 6, 2026, entirely in RSUs, which vests on the one-year anniversary of the grant date.
The filing states that there are no arrangements or understandings under which Mr. Madrigal was selected as a director and no related-party transactions requiring disclosure under Item 404(a) of Regulation S-K. CEO Joanne Crevoiserat said his expertise will help drive the Company's Amplify growth agenda, and Board Chair Anne Gates welcomed his perspective on scaling global consumer platforms.
02—Key points
Key Highlights
- Board expanded from ten to eleven members with the election of Matthew Madrigal, effective April 6, 2026
- Madrigal is Chief Technology Officer of Pinterest, Inc., leading product and engineering teams for its visual search and discovery platform
- Board will include ten independent directors following the appointment, per the press release
- Annual cash retainer of $100,000 for Madrigal under the standard non-employee director arrangements
- Equity compensation of $200,000 in RSUs for the annual grant at the annual stockholders meeting, vesting one year from grant
- Initial $200,000 RSU award granted April 6, 2026, vesting on the one-year anniversary of the grant date
- No undisclosed related-party transactions or selection arrangements involving Madrigal, per Item 404(a) disclosure in the filing
03—Questions
Frequently Asked Questions
Who is Matt Madrigal and what is his background?
Matt Madrigal is Chief Technology Officer of Pinterest, Inc., where he oversees engineering, product, design, and platform. The filing says he previously served as Vice President and General Manager of Merchant Shopping at Google, Chief Technology and Product Officer at Fanatics, and SVP of eCommerce & Marketing at Williams-Sonoma, Inc. He also spent eight years leading product and engineering for eBay's growth marketing and onsite advertising technology platforms.
How is Madrigal compensated as a director?
He will receive an annual cash retainer of $100,000 and an annual equity grant with a grant-date fair market value of $200,000, made entirely in restricted stock units on the date of the annual stockholders meeting. Those awards vest in full one year from grant, subject to continued service. He will also receive an initial $200,000 RSU award on April 6, 2026, vesting on the one-year anniversary of grant.
Does the appointment change the size or composition of the Board?
Yes. The Board increased its size from ten to eleven members. The press release states that the Board's membership is now eleven, including ten independent directors.
Were there any related-party transactions or special selection arrangements tied to the appointment?
The filing states there are no arrangements or understandings between Madrigal and any other person under which he was selected as a director. It also states there have been no transactions since the start of the last fiscal year, and none currently proposed, that require disclosure under Item 404(a) of Regulation S-K.
04—Continue