Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
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- Peter Lynch
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 |
SCHEDULE 13G
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UNDER THE SECURITIES EXCHANGE ACT OF 1934
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(Amendment No. 7)*
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Kontoor Brands, Inc. (Name of Issuer) |
Common Stock (Title of Class of Securities) |
50050N103 (CUSIP Number) |
12/31/2024 (Date of Event Which Requires Filing of this Statement) |
| Check the appropriate box to designate the rule pursuant to which this Schedule is filed: |
 Rule 13d-1(b)
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 Rule 13d-1(c)
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| Rule 13d-1(d)
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SCHEDULE 13G
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| CUSIP No. | 50050N103 |
| 1 | Names of Reporting Persons
The PNC Financial Services Group, Inc. | ||||||||
| 2 | Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
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| 3 | Sec Use Only | ||||||||
| 4 | Citizenship or Place of Organization
PENNSYLVANIA
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| Number of Shares Beneficially Owned by Each Reporting Person With: |
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| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person
4,168,098.00 | ||||||||
| 10 | Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
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| 11 | Percent of class represented by amount in row (9)
7.56 % | ||||||||
| 12 | Type of Reporting Person (See Instructions)
HC |
SCHEDULE 13G
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| Item 1. | ||
| (a) | Name of issuer:
Kontoor Brands, Inc. | |
| (b) | Address of issuer's principal executive offices:
400 N. Elm Street Greensboro, North Carolina 27401 | |
| Item 2. | ||
| (a) | Name of person filing:
The PNC Financial Services Group, Inc. | |
| (b) | Address or principal business office or, if none, residence:
300 Fifth Avenue, Pittsburgh, PA 15222-2401 | |
| (c) | Citizenship:
Pennsylvania | |
| (d) | Title of class of securities:
Common Stock | |
| (e) | CUSIP No.:
50050N103 | |
| Item 3. | If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: | |
| (a) | Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
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| (b) | Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
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| (c) | Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
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| (d) | Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
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| (e) | An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
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| (f) | An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
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| (g) | A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
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| (h) | A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
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| (i) | A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
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| (j) | A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution: | |
| (k) | Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
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| Item 4. | Ownership | |
| (a) | Amount beneficially owned:
4,168,098 | |
| (b) | Percent of class:
7.56 %
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| (c) | Number of shares as to which the person has:
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| (i) Sole power to vote or to direct the vote:
3,348 | ||
| (ii) Shared power to vote or to direct the vote:
4,161,026 | ||
| (iii) Sole power to dispose or to direct the disposition of:
6,294 | ||
| (iv) Shared power to dispose or to direct the disposition of:
4,161,722Of the total shares of common stock reported herein, 4,161,026 shares (7.55% of the class) are held inBarbey Family Trust accounts for which PNC Bank, National Association (PNC Bank") serves as co-trustee.PNC Bank serves as co-trustee and is deemed to share voting power and dispositive power with respect tothose 4,161,026 shares.Of the total shares of common stock reported herein, 6,693 shares are held in accounts at PNC Bankin a fiduciary capacity for clients outside of the above-referenced trusts.Of the total shares of common stock reported herein, 379 shares are held in accounts at PNCDelaware Trust Company in a fiduciary capacity for clients outside of the above-referenced trusts.The inclusion of the reporting persons and such securities in this report shall not be deemed anadmission of beneficial ownership by the reporting persons for the purposes of Section 13(d) or 13(g) of theAct, or for any other purposes. | ||
| Item 5. | Ownership of 5 Percent or Less of a Class. | |
| Item 6. | Ownership of more than 5 Percent on Behalf of Another Person. | |
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
PNC Bank is co-trustee on certain trust accounts (Barbey Family) holding at year end 4,161,026shares of the securities reported herein representing 7.55% of the class.The PNC Financial Services Group, Inc.'s clients, those with accounts at the PNC subsidiariesnoted herein, have the right to receive or the power to direct the receipt of dividends from, orthe proceeds from the sale of, the securities reported herein.No one other person's interest in the securities reported herein is more than 5%. | ||
| Item 7. | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. | |
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
PNC Bank, National Association - BKPNC Delaware Trust Company - BK | ||
| Item 8. | Identification and Classification of Members of the Group. | |
Not Applicable
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| Item 9. | Notice of Dissolution of Group. | |
Not Applicable
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| Item 10. | Certifications: |
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. |
| SIGNATURE | |
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
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