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FORM 5500 DATA

Kontoor Brands 401k Savings Plan

Overview

Plan Information

  • Plan Year05/22/2019 — 12/31/2019
  • Date of Plan05/22/2019
  • Net Assets as of 12/31/2019 $241,499,741
  • Plan Number1
  • Plan Type Single Employer
  • Is the plan collectively bargained? No
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Report DescriptionThis is the first report filed for the plan. This report is for a short plan year (less than 12 months).
  • Plan Funding Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2019

  • Active (Eligible) Participants2,984
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits190
  • Subtotal3,174
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits3
  • Total3,177
  • Total number of participants as of 05/22/20193,131
  • Number of participants with account balances2,984
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0

Expenses

  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • Address400 North Elm St.
  • CityGreensboro
  • StateNC
  • Zip27401
  • Telephone(336) 332-3400
  • EIN83-2680248
  • Industry Code315990
  • Named AdministratorScott Shoener

Plan Administrator Information

  • Administrator NameKontoor Brands, Inc. Retirement Plans Committee
  • Address400 North Elm St.
  • CityGreensboro
  • StateNC
  • Zip27401
  • Telephone(336) 332-3400
  • Administrator EIN83-2680248

Audit Information

  • Audit StatusAudited
  • AuditorBdo USA, LLP
  • Auditor EIN13-5381590
  • Audit OpinionUnqualified
  • Audit Type Full Audit

Benefits Provided Under the Plan

Code Benefit Description
2E Profit-sharing A defined contribution plan that allows employer discretionary contributions. These plans often contain a 401(k) feature.
2F ERISA section 404(c) Plan This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
2G Total participant-directed account plan Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J Code section 401(k) feature A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
2K Code section 401(m) arrangement Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
2O ESOP other than a leveraged ESOP An Employee Stock Ownership Plan (ESOP) is a type of employee benefit plan designed to invest primarily in employer stock.
2R Brokerage Window Participant-directed brokerage accounts provided as an investment option under the plan.
2S Automatic Enrollment Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
2T Participant-directed Account Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? Yes $16,481
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $10,000,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan have assets held for investment? Yes
Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No
Has the plan failed to provide any benefit when due under the plan? No
If this is an individual account plan, was there a blackout period? No
If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No

Financials

Income and Expense Statement

Income $39,011,771
Contributions $13,123,985
Cash Contributions $13,123,985
Cash from Employers $5,057,708
Cash from Participants $6,858,909
Others (including rollovers) $1,207,368
Noncash Contributions $0
Total Earnings on Investments $24,822,846
Total Interest $376,878
Interest-Bearing Cash $126,653
U.S. Government Securities $84,485
Corporate Debt Instruments $1,715
Loans (other than to participants) $0
Participant Loans $164,025
Interest from Other Investments $0
Total Dividends $811,711
Preferred Stock $0
Common Stock $648,309
Rents $0
Net gain (loss) on sale of assets $-1,404,707
Aggregate Proceeds $11,000,702
Aggregate Carrying Amount $12,405,409
Total Unrealized Appreciation (depreciation) of assets $7,294,602
Real Estate $0
Other $7,294,602
Net investment gain (loss) from common/collective trusts $17,579,414
Net investment gain (loss) from pooled separate accounts $0
Net investment gain (loss) from master trust investment accounts $0
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $164,948
Other Income $1,064,940
Expenses $10,035,493
Total Benefit Payments $9,918,926
Directly to participants or beneficiaries, including direct rollovers $9,918,926
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $9,099
Interest expense $0
Total Administrative Expenses $107,468
Professional Fees $0
Contract Administrator Fees $67,452
Investment Advisory and management fees $40,016
Other Administrative Fees $0
Net Income $28,976,278
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2019 05/21/2019 Change YOY
Total Assets $241,499,741 $0 0.0%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $0 $0 0.0%
Employer Contributions $0 $0 0.0%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $0 0.0%
General Investments $92,808 $0 0.0%
Interest-bearing cash $0 $0 0.0%
U.S. Government Securities $92,808 $0 0.0%
Corporate Debt Instruments $0 $0 0.0%
Preferred $0 $0 0.0%
All Other $0 $0 0.0%
Corporate Stocks $0 $0 0.0%
Preferred $0 $0 0.0%
Common $0 $0 0.0%
Partnership/joint venture interests $0 $0 0.0%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $5,079,621 $0 0.0%
Value of interest in common/collective trusts $166,573,347 $0 0.0%
Value of interest in pooled separate accounts $0 $0 0.0%
Value of interest in master trust investment accounts $0 $0 0.0%
Value of interest in 103-12 investment entities $0 $0 0.0%
Value of interest in registered investment companies $12,627,107 $0 0.0%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $18,079,417 $0 0.0%
Employer-related Investments $39,047,441 $0 0.0%
Employer Securities $39,047,441 $0 0.0%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $0 $0 0.0%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $241,499,741 $0 0.0%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Fidelity Investments Institutional

Other Service Providers Receiving Direct or Indirect Compensation

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
Fidelity Investments Institutional Participant loan processing, Recordkeeping fees, Account maintenance fees, Securities brokerage commissions and fees Recordkeeper $67,452 $0 $67,452
Financial Engines Investment advisory (plan) Advisor $40,016 $0 $40,016
Total $107,468 $0 $107,468

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Fidelity Investments Institutional Invesco Comstock Fund Cl A Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Amg Yacktman Focused N Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Amg Managers Specialequity N Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional River Canyon Total Return Bond Inst Sub-transfer agency fees 0.12% $0
Fidelity Investments Institutional Invesco Multi Asset Income Fd Cl A Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Invesco Oppenheimer Intl Small Mid Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Invesco Oppenheimer Intl Growth A Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Allianzgi Health Sciences Class A Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional American Balanced Class F1 Sub-transfer agency fees 0.37% $0
Fidelity Investments Institutional Baron Asset Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Baron Growth Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Baron Opportunity Fund Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Berkshire Focus Fund Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Blackrock Mid Cap Growth Equity Cl Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Blackrock Technology Opportunities Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Blackrock Technology Opportunities Sub-transfer agency fees 0.08% $0
Fidelity Investments Institutional Blackrock Health Sciences Opp Prt I Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Blackrock Health Sciences Opp Prt A Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional William Blair Small Mid Cap Growth Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Buffalo Discovery Fund Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Calvert Emerging Markets Equty Cl Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Cohen & Steers Real Estate Securiti Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Cohen & Steers Low Dur Prfd & Incom Sub-transfer agency fees 0.08% $0
Fidelity Investments Institutional Dws Emerging Mkts Equity Fd S Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional First Eagle Global Class A Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Oakmark Intl Investor Cl Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional American Investmnt Co of America Cl Sub-transfer agency fees $18 $0
Fidelity Investments Institutional Janus Henderson Triton T Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional Janus Henderson Enterprise T Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional Janus Henderson Overseas T Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional Janus Henderson Balanced T Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional John Hancock Intl Growth Cl A Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Morgan Stanley Growth Portfolio A Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Hcm Income Plus Fundinvestor Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Hcm Dividend Sector Plus Fund Inves Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Hcm Tactical Growth Fund Investor Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional T Rowe Price Us Large Cap Core Fund Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Semiconductor Ultra Sector Pro Fd I Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Real Estate Ultra Sector Pro Fd Inv Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Large Cap Growth Profund Investor Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional U.S. Government Pluspro Fund Invest Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Pgim Total Return Bond Cl Z Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Pgim Shrt Dur Hgh Yld Inc Fd Cl Z Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Royce Intrnl Premier Fd Investment Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Rydex S&P Midcap 400Pure Growth Cla Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Templeton Developingmarkets Class A Sub-transfer agency fees $16 $0
Fidelity Investments Institutional Thornburg Global Opportunities Fd A Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Tributary Small Company Fd Instl Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Virtus Kar Small Cap Growth Fund Cl Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Virtus Kar Small Cap Growth Cl A Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Wasatch Ultra Growth Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Wasatch Emerging India Fund Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional American Washington Mutual Investor Sub-transfer agency fees 0.37% $0
*As outlined by the Form 5500 Instructions for service providers with indirect compensation.

Service Providers Who Fail or Refuse to Provide Information

There are no service providers who failed or refused to provide information.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Btc Equity Idx Nl M Blackrock Institutional Trust Company, N.A. DFE: Common/Collective Trust $40,970,855
Jpmcb Sr Pb 2030 Cf Jpmorgan Chase Bank, N.A. DFE: Common/Collective Trust $20,373,075
Jpmcb Sr Pb 2025 Cf Jpmorgan Chase Bank, N.A. DFE: Common/Collective Trust $18,440,005
Btc Acwi Ex Us Nl R Blackrock Institutional Trust Company, N.A. DFE: Common/Collective Trust $15,191,759
Btc Rsl 2500 Nl M Blackrock Institutional Trust Company, N.A. DFE: Common/Collective Trust $15,085,157
Jpmcb Sr Pb 2040 Cf Jpmorgan Chase Bank, N.A. DFE: Common/Collective Trust $13,209,445
Jpmcb Sr Pb 2035 Cf Jpmorgan Chase Bank, N.A. DFE: Common/Collective Trust $10,042,188
Jpmcb Sr Pb 2020 Cf Jpmorgan Chase Bank, N.A. DFE: Common/Collective Trust $8,414,611
Btc Us Debt Idx Nl M Blackrock Institutional Trust Company, N.A. DFE: Common/Collective Trust $6,950,668
Jpmcb Sr Pb 2045 Cf Jpmorgan Chase Bank, N.A. DFE: Common/Collective Trust $6,605,669
Jpmcb Sr Pb 2050 Cf Jpmorgan Chase Bank, N.A. DFE: Common/Collective Trust $4,700,241
Btc Str Comp Nl M Blackrock Institutional Trust Company, N.A. DFE: Common/Collective Trust $2,656,260
Jpmcb Sr Pb 2055 Cf Jpmorgan Chase Bank, N.A. DFE: Common/Collective Trust $2,201,825
Jpmcb Sr Pb Inc Cf Jpmorgan Chase Bank, N.A. DFE: Common/Collective Trust $1,073,996
Jpmcb Sr Pb 2060 Cf Jpmorgan Chase Bank, N.A. DFE: Common/Collective Trust $657,593
Total $166,573,347

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.