SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

SCHEDULE 13G/A

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(AMENDMENT NO. 6)

 

 

Kontoor Brands, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

50050N103

(CUSIP Number)

September 30, 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)

☐ Rule 13d-1(c)

☐ Rule 13d-1(d)

 

 

 

CUSIP No. 50050N103    Page 2 of 7 Pages

 

 1)   

 Names of Reporting Persons

 IRS Identification No. Of Above Persons

 

 The PNC Financial Services Group, Inc.  25-1435979

 2)  

 Check the Appropriate Box if a Member of a Group (See Instructions)

 a) ☐  b) ☐

 

 3)  

 SEC USE ONLY

 

 4)  

 Citizenship or Place of Organization

 

 Pennsylvania

Number of

Shares  Beneficially 

Owned By

Each

Reporting

Person

With

    5)   

 Sole Voting Power

 

 3,361

   6)  

 Shared Voting Power

 

 4,217,457

   7)  

 Sole Dispositive Power

 

 6,308

   8)  

 Shared Dispositive Power

 

 4,218,152

 9)   

 Aggregate Amount Beneficially Owned by Each Reporting Person

 

 4,224,542

10)  

 Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

 

 ☐

11)  

 Percent of Class Represented by Amount in Row (9)

 

 7.59%

12)  

 Type of Reporting Person (See Instructions)

 

 HC

CUSIP No. 50050N103    Page 3 of 7 Pages

 

 1)   

 Names of Reporting Persons

 IRS Identification No. Of Above Persons

 

 PNC Bank, National Association 22-1146430

 2)  

 Check the Appropriate Box if a Member of a Group (See Instructions)

 a) ☐  b) ☐

 

 3)  

 SEC USE ONLY

 

 4)  

 Citizenship or Place of Organization

 

 United States

Number of

Shares  Beneficially 

Owned By

Each

Reporting

Person

With

    5)   

 Sole Voting Power

 

 2,982

   6)  

 Shared Voting Power

 

 4,019,855

   7)  

 Sole Dispositive Power

 

 5,929

   8)  

 Shared Dispositive Power

 

 4,020,550

 9)   

 Aggregate Amount Beneficially Owned by Each Reporting Person

 

 4,026,561

10)  

 Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

 

 ☐

11)  

 Percent of Class Represented by Amount in Row (9)

 

 7.23%

12)  

 Type of Reporting Person (See Instructions)

 

 BK

CUSIP No. 50050N103    Page 4 of 7 Pages

 

 1)   

 Names of Reporting Persons

 IRS Identification No. Of Above Persons

 

 PNC Delaware Trust Company 81-0581990

 2)  

 Check the Appropriate Box if a Member of a Group (See Instructions)

 a) ☐  b) ☐

 

 3)  

 SEC USE ONLY

 

 4)  

 Citizenship or Place of Organization

 

 Delaware

Number of

Shares  Beneficially 

Owned By

Each

Reporting

Person

With

    5)   

 Sole Voting Power

 

 379

   6)  

 Shared Voting Power

 

 197,602

   7)  

 Sole Dispositive Power

 

 379

   8)  

 Shared Dispositive Power

 

 197,602

 9)   

 Aggregate Amount Beneficially Owned by Each Reporting Person

 

 197,981

10)  

 Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

 

 ☐

11)  

 Percent of Class Represented by Amount in Row (9)

 

 0.36%

12)  

 Type of Reporting Person (See Instructions)

 

 BK

Page 5 of 7 Pages

 

ITEM 1(a) - NAME OF ISSUER:

Kontoor Brands, Inc.

ITEM 1(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.; PNC Bank,

National Association; and PNC Delaware Trust Company

ITEM 2(b) - ADDRESS OF PRINCIPAL BUSINESS OFFICE:

The PNC Financial Services Group, Inc. - 300 Fifth Avenue, Pittsburgh, PA 15222-2401

PNC Bank, National Association - 300 Fifth Avenue, Pittsburgh, PA 15222-2401

PNC Delaware Trust Company - 222 Delaware Avenue, Wilmington, DE 19801

ITEM 2(c) - CITIZENSHIP:

The PNC Financial Services Group, Inc. - Pennsylvania

PNC Bank, National Association - United States

PNC Delaware Trust Company - Delaware

ITEM 2(d) - TITLE OF CLASS OF SECURITIES:

Common

ITEM 2(e) - CUSIP NUMBER:

50050N103

ITEM 3 - IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(b), OR 13d-2(b), CHECK WHETHER THE PERSON FILING IS A:

 

(a)    ☐    Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)    ☒    Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)    ☐    Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)    ☐    Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)    ☐    An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)    ☐    An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)    ☒    A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)    ☐    A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)    ☐    A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act (15 U.S.C. 80a-3);
(j)    ☐    A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J);
(k)    ☐    Group, in accordance with § 240.13d-1(b)(1)(ii)(K).

Page 6 of 7 Pages

 

ITEM 4 - OWNERSHIP:

The following information is as of September 30, 2024:

 

(a) Amount Beneficially Owned:

      4,224,542     

(b) Percent of Class:

      7.59     

(c) Number of shares to which such person has:

 

(i) sole power to vote or to direct the vote

      3,361     

(ii) shared power to vote or to direct the vote

      4,217,457     

(iii) sole power to dispose or to direct the disposition of

      6,308     

(iv) shared power to dispose or to direct the disposition of

      4,218,152     

Of the total shares of common stock reported herein, 4,217,457 shares (7.57% of the class) are held in Barbey 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 to those 4,217,457 shares.

Of the total shares of common stock reported herein, 6,706 shares are held in accounts at PNC Bank in 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 PNC Delaware 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 an admission of beneficial ownership by the reporting persons for the purposes of Section 13(d) or 13(g) of the Act, or for any other purposes.

ITEM 5 - OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:

Not Applicable.

ITEM 6 - OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:

PNC Bank, together with the other co-trustees, share the power to direct the receipt of dividends from, or the proceeds from the sale of, the common stock held by the Barbey Family Trust accounts noted in Item 4 above. The beneficiaries of the trust have the right to receive dividends from the common stock in their trust accounts.

 

ITEM 7 -

IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY:

Included are the following subsidiaries of The PNC Financial Services Group, Inc. - HC:

PNC Bank, National Association - BK

PNC Delaware Trust Company - BK

ITEM 8 - IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:

Not Applicable.

Page 7 of 5 Pages

 

ITEM 9 - NOTICE OF DISSOLUTION OF GROUP:

Not Applicable.

ITEM 10 - CERTIFICATION:

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.

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.

 

November 14, 2024     November 14, 2024
Date     Date
By:  

/s/ Gregory H. Kozich

     By:  

/s/ Joshua Ott

Signature - The PNC Financial Services Group, Inc.     Signature - PNC Delaware Trust Company
Gregory H. Kozich, Senior Vice President & Controller     Joshua Ott, Fiduciary Market Director
Name & Title     Name & Title
November 14, 2024    
Date      
By:  

/s/ Gregory H. Kozich

      
Signature – PNC Bank, National Association      
Gregory H. Kozich, Executive Vice President & Controller      
Name & Title      

AN AGREEMENT TO FILE A JOINT STATEMENT WAS PREVIOUSLY FILED

PNC Financial Services (NYSE:PNC)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more PNC Financial Services Charts.
PNC Financial Services (NYSE:PNC)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more PNC Financial Services Charts.