TORONTO--(BUSINESS WIRE)--Canada Goose Holdings Inc. ("Canada Goose" or the "Company") (NYSE:GOOS, TSX:GOOS) today announced that its President and Chief Executive Officer, Dani Reiss, established an automatic securities disposition plan (ASDP) in accordance with applicable United States and Canadian securities legislation and the Company’s internal policies.
The ASDP permits trades to be made in accordance with pre-arranged instructions given when Mr. Reiss was not in possession of any material undisclosed information. The ASDP will be effective on the second trading day following the date on which the Company has filed its interim financial statements for the quarter ending June 27, 2021. Sales of the subordinate voting shares under the ASDP may only commence two trading days after the release of such interim financial statements.
Up to 326,219 subordinate voting shares, representing approximately 0.30% of the issued and outstanding subordinate voting and multiple voting shares of the Company, may be sold under the ASDP implemented by Mr. Reiss. All such subordinate voting shares would be issued upon the exercise of options to acquire subordinate voting shares held by Mr. Reiss, such options forming part of Mr. Reiss’s compensation for services as President and Chief Executive Officer of Canada Goose. The ASDP is designed to allow for an orderly disposition of the subordinate voting shares to be issued upon the exercise of the options at prevailing market prices over the course of the 12 month period that sales under the ASDP are expected to take place. The ASDP will not provide for any conversion or sale of multiple voting shares of the Company owned by Mr. Reiss.
Mr. Reiss has provided pre-arranged instructions in writing to the independent agent administering the ASDP, including the number of securities to be sold and setting out minimum trade prices. The ASDP prohibits the agent administering the ASDP from consulting with Mr. Reiss regarding any sales under the ASDP and prohibits Mr. Reiss from disclosing to the agent any information concerning the Company that might influence the execution of the ASDP. The ASDP has been authorized and established in the form approved by the Company, and contains meaningful restrictions on the ability of Mr. Reiss to amend, suspend or terminate the ASDP.
The Ontario Securities Commission issued a decision document dated May 11, 2021 exempting Mr. Reiss from the prospectus requirement under Canadian securities legislation with respect to sales of subordinate voting shares under the ASDP. In accordance with the conditions set forth in such decision document, Mr. Reiss will file on the date hereof a Form 45-102F1 (Notice of Intention to Distribute Securities under Section 2.8 of National Instrument 45-102 Resale of Securities) on SEDAR.
This announcement is made and will be available on SEDAR at www.SEDAR.ca pursuant to the recommended practices set forth in Staff Notice 55-317 Automatic Securities Disposition Plans of the Canadian Securities Administrators. Information regarding the ASDP and transactions thereunder, as the case may be, may be accessed on SEDI at www.sedi.ca.
About Canada Goose Holdings Inc.
Founded in 1957 in a small warehouse in Toronto, Canada, Canada Goose (NYSE:GOOS, TSX:GOOS) is a lifestyle brand and a leading manufacturer of performance luxury apparel. Every collection is informed by the rugged demands of the Arctic, ensuring a legacy of functionality is embedded in every product from parkas and rainwear to apparel and accessories. Canada Goose is inspired by relentless innovation and uncompromised craftsmanship, recognized as a leader for its Made in Canada commitment. In 2020, Canada Goose announced HUMANATURE, its purpose platform that unites its sustainability and values-based initiatives, reinforcing its commitment to keep the planet cold and the people on it warm. Canada Goose also owns Baffin, a Canadian designer and manufacturer of performance outdoor and industrial footwear. Visit www.canadagoose.com for more information.