Coach 2009 Annual Report Download - page 72
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TABLE OF CONTENTS
COACH, INC.
Notes to Consolidated Financial Statements
(dollars and shares in thousands, except per share data)
19. SHAREHOLDER RIGHTS PLAN
On May 3, 2001, Coach declared a “poison pill” dividend distribution of rights to buy additional common stock, to the holder of each
outstanding share of Coach’s common stock.
Subject to limited exceptions, these rights may be exercised if a person or group intentionally acquires 10% or more of the Company’s
common stock or announces a tender offer for 10% or more of the common stock on terms not approved by the Coach Board. In this event,
each right would entitle the holder of each share of Coach’s common stock to buy one additional common share of the Company at an
exercise price far below the then-current market price. Subject to certain exceptions, Coach’s Board will be entitled to redeem the rights at
$0.0001 per right at any time before the close of business on the tenth day following either the public announcement that, or the date on
which a majority of Coach’s Board becomes aware that, a person has acquired 10% or more of the outstanding common stock. As of the
end of fiscal 2010, there were no shareholders whose common stock holdings exceeded the 10% threshold established by the rights plan.
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