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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934 (Amendment No.          )

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Filed by a Party other than the Registrant o

Check the appropriate box:

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Preliminary Proxy Statement

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Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

ý

 

Definitive Proxy Statement

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Definitive Additional Materials

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Soliciting Material under §240.14a-12

 

Oxford Industries, Inc.

(Name of Registrant as Specified In Its Charter)

 

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

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Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.
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Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.

 

 

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GRAPHIC


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LOGO


NOTICE OF 2019 ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD JUNE 18, 2019

        Notice is hereby given that the 2019 Annual Meeting of Shareholders of Oxford Industries, Inc. will be held on Tuesday, June 18, 2019 at 2:00 p.m., local time, at The Fifth Floor Conference Center, 999 Peachtree Street, N.E., Atlanta, Georgia 30309. The purposes of the meeting are to:

        Shareholders of record as of the close of business on April 18, 2019 will be entitled to notice of and to vote at the annual meeting or at any adjournment or postponement of the annual meeting.

        We have elected to provide access to our proxy materials on the Internet under the U.S. Securities and Exchange Commission's "notice and access" rules. By providing our proxy materials on the Internet, we believe that we are increasing our shareholders' ability to access the information they need while at the same time reducing the environmental impact of our annual meeting. A Notice of Internet Availability of Proxy Materials will be mailed to shareholders beginning on or about May 7, 2019. This proxy statement and our 2018 Annual Report on Form 10-K may be accessed by all shareholders at http://www.edocumentview.com/oxford. Any shareholder may request a printed copy of the proxy materials by following the instructions set forth in the Notice of Internet Availability.

        A list of shareholders entitled to vote at the annual meeting will be available for examination by any shareholder, or his or her agent or attorney, at the annual meeting. Proxies for the annual meeting are being solicited on behalf of our Board. Reference is made to the accompanying proxy statement for further information with respect to the items of business to be transacted at the annual meeting.

        Your vote is important. Regardless of whether you plan to attend the annual meeting, you are encouraged to vote as soon as possible. You may vote on the Internet; via a toll-free telephone number or by signing, dating and mailing a completed proxy card, but in each case only if you request a paper copy of the proxy materials; or in person at the annual meeting. Please review the instructions on each of your voting options described in the Notice of Internet Availability. If your shares are held in an account with a broker, your broker will vote your shares for you if you provide voting instructions. In the absence of instructions, your broker can only vote your shares on limited matters.

        Attendance at the annual meeting is limited to shareholders, those holding proxies from shareholders and invited guests such as members of the media. If your shares are held in an account with a broker and you wish to gain admission to the meeting, you should bring the notice or voting instruction form you received from your broker, or obtain a valid proxy card from your broker.

May 6, 2019   By Order of the Board of Directors,

 

 

GRAPHIC

 

 

Suraj A. Palakshappa
Vice President-Law, General Counsel
and Secretary

        Important Notice Regarding the Availability of Proxy Materials for the Shareholder Meeting to be Held on June 18, 2019: This proxy statement and our fiscal 2018 annual report on Form 10-K are available on the Internet at http://www.edocumentview.com/oxford.


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TABLE OF CONTENTS

PROXY STATEMENT

    1  

INTRODUCTION

    1  

PROPOSALS FOR SHAREHOLDER CONSIDERATION

    1  

Proposal No. 1: Election of Directors

    2  

Board of Directors

    2  

Bylaws Relating to Retirement

    2  

Director Nominees

    2  

Required Vote

    2  

Recommendation of our Board of Directors

    2  

Proposal No. 2: Ratification of Independent Registered Public Accounting Firm

    3  

Independent Registered Public Accounting Firm

    3  

Required Vote

    3  

Recommendation of our Board of Directors

    3  

Proposal No. 3: Non-Binding, Advisory Vote to Approve Executive Compensation

    3  

Executive Compensation

    3  

Proposed Resolution

    3  

Required Vote

    3  

Recommendation of our Board of Directors

    4  

CORPORATE GOVERNANCE AND BOARD MATTERS

    5  

Directors

    5  

Director Nominees

    5  

Continuing Directors

    6  

Director Independence

    10  

Corporate Governance Guidelines; Conduct Policies

    11  

Corporate Social Responsibility

    11  

Empower Our People

    11  

Enrich Our Communities

    11  

Reduce Our Footprint

    11  

Board Meetings and Committees of our Board of Directors

    12  

Executive Committee

    12  

Audit Committee

    12  

Nominating, Compensation & Governance Committee (or NC&G Committee)

    13  

Meetings of Non-Employee Directors

    13  

Board Leadership

    13  

Director Nomination Process

    14  

Director Compensation

    14  

Compensation Program for Fiscal 2018

    14  

Director Compensation for Fiscal 2018

    15  

Stock Ownership and Retention Guidelines

    15  

EXECUTIVE OFFICERS

    16  

EXECUTIVE COMPENSATION

    17  

Introduction

    17  

Compensation Discussion and Analysis

    17  

Executive Summary

    17  

Consideration of Last Year's Advisory Say-On-Pay Votes

    18  

Compensation Philosophy and Objectives

    18  

Compensation Decision Process

    19  

Elements of Executive Officer Compensation

    21  

Base Salary

    22  

Short-Term Incentive Compensation

    23  

Long-Term Equity Incentive Compensation

    25  

Other Benefit Plans and Perquisites

    25  

Written Arrangements

    26  

Clawback Policy

    27  

Stock Ownership and Retention Guidelines; Anti-Pledging/Hedging Policy

    27  


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Compensation Tables

    28  

Summary Compensation Table for Fiscal 2018

    28  

Grants of Plan-Based Awards in Fiscal 2018

    29  

Outstanding Equity Awards at Fiscal 2018 Year-End

    29  

Option Exercises and Stock Vested During Fiscal 2018

    31  

Fiscal 2018 Non-Qualified Deferred Compensation

    31  

Potential Payments on Termination or Change of Control

    32  

CEO Pay Ratio

    33  

NOMINATING, COMPENSATION & GOVERNANCE COMMITTEE REPORT

    33  

COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION

    33  

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

    34  

AUDIT-RELATED MATTERS

    34  

Report of the Audit Committee

    34  

Fees Paid to Independent Registered Public Accounting Firm

    35  

Approval of Audit and Permissible Non-Audit Services of Independent Auditors

    35  

COMMON STOCK OWNERSHIP BY MANAGEMENT AND CERTAIN BENEFICIAL OWNERS

    36  

Management

    36  

Certain Beneficial Owners

    37  

Section 16(a) Beneficial Ownership Reporting Compliance

    37  

EQUITY COMPENSATION PLAN INFORMATION

    38  

INFORMATION ABOUT THE MEETING AND VOTING

    38  

Shares Outstanding

    38  

Voting

    38  

Broker Discretionary Voting; Broker Non-Votes

    39  

Changing Your Vote

    39  

Quorum

    39  

ADDITIONAL INFORMATION

    39  

Annual Report on Form 10-K

    39  

Board's Role in Risk Oversight

    39  

Submission of Director Candidates by Shareholders

    40  

Shareholder Proposals

    40  

Communications to our Board of Directors

    41  

Proxy Solicitation

    41  

Website Information

    41  

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LOGO

999 Peachtree Street, N.E., Suite 688
Atlanta, Georgia 30309



PROXY STATEMENT



For 2019 Annual Meeting of Shareholders
To Be Held on June 18, 2019


INTRODUCTION

        This proxy statement contains information relating to the 2019 Annual Meeting of Shareholders of Oxford Industries, Inc. to be held on Tuesday, June 18, 2019, beginning at 2:00 p.m., local time. The annual meeting will be held at The Fifth Floor Conference Center, 999 Peachtree Street, N.E., Atlanta, Georgia 30309. You may contact our Investor Relations Department by calling (404) 659-2424 to obtain directions to the site of the annual meeting.

        We have elected to provide access to our proxy materials on the Internet. Accordingly, we are mailing a Notice of Internet Availability of Proxy Materials to our shareholders instead of a paper copy of our proxy materials. By providing our proxy materials on the Internet, we believe that we are increasing our shareholders' ability to access the information they need while at the same time reducing the environmental impact of our annual meeting. The Notice of Internet Availability contains instructions for accessing our proxy materials and submitting a proxy on the Internet. The Notice of Internet Availability also contains instructions for requesting a paper copy of our proxy materials. We will begin mailing the Notice of Internet Availability on or about May 7, 2019 to all holders of our common stock, par value $1.00 per share, entitled to vote at the annual meeting. A similar notice will be sent by brokers and other nominees to beneficial owners of shares of which they are the shareholder of record.

        This proxy statement and our 2018 Annual Report on Form 10-K are available at http://www.edocumentview.com/oxford. We will mail any shareholder a copy of the proxy materials free of charge upon request, but you will not receive a printed copy of the proxy materials unless you request one. You may request to receive a copy of proxy materials by following the instructions set forth in the Notice of Internet Availability.


PROPOSALS FOR SHAREHOLDER CONSIDERATION

Proposal

    Board's
Recommendation

 

 

 

 

 
Proposal No. 1—Election of Directors   Election of three Class III directors for a three-year term expiring in 2022: Ms. Helen Ballard; Mr. Thomas C. Gallagher; and Ms. Virginia A. Hepner   FOR EACH

Proposal No. 2—Ratification of Ernst & Young LLP

 

Ratification of Ernst & Young LLP to serve as our independent registered public accounting firm for fiscal 2019

 

FOR

Proposal No. 3—Non-Binding, Advisory Vote on Executive Compensation

 

A non-binding, advisory vote supporting the compensation paid to our executive officers

 

FOR

2019 PROXY STATEMENT 1


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Proposal No. 1: Election of Directors

        In accordance with our charter, our directors are divided into three classes that are as nearly equal in size as possible. Directors in each class are elected to three year terms, with director classes serving staggered terms. A director holds office until the annual meeting of shareholders held in the year during which the director's term ends and until his or her successor is elected and qualified.

        Pursuant to our bylaws, an individual becomes ineligible for election or appointment as a director: (1) for any employee director (i.e., someone who concurrently serves as an employee of our company and as a member of our Board), other than an individual who has at any time served as our Chief Executive Officer, following the end of our fiscal year during which such individual reaches the age of 65; and (2) for any other individual, following the end of our fiscal year during which such individual reaches the age of 72.

        Our Board currently consists of three Class I directors (Messrs. Dennis M. Love, Clyde C. Tuggle and E. Jenner Wood III), four Class II directors (Messrs. Thomas C. Chubb III, John R. Holder, Stephen S. Lanier, and Clarence H. Smith) and three Class III directors (Ms. Helen Ballard, Mr. Thomas C. Gallagher and Ms. Virginia A. Hepner).

        At our 2019 annual meeting, the terms of our Class III directors will expire. Our Board, on the recommendation of our Nominating, Compensation & Governance Committee, or NC&G Committee, has unanimously nominated Ms. Helen Ballard, Mr. Thomas C. Gallagher and Ms. Virginia A. Hepner for election at our annual meeting as Class III directors, each to serve for a three year term expiring in 2022 and until his or her respective successor is elected and qualified.

        The terms of our Class I directors expire in 2020, and the terms of our Class II directors expire in 2021. Each of our Class I and Class II directors is currently expected to remain in office for the remainder of his current term.

        In an uncontested election at an annual meeting of shareholders, our bylaws require that each director be elected by a majority of the votes cast with respect to such director (number of shares voted "for" a director must exceed the number of votes cast "against" that director). In accordance with our bylaws, in order for a shareholder to have nominated a director for consideration at the 2019 annual meeting, we must have received the nomination not later than the close of business on March 22, 2019. We have not received a shareholder nomination for a director for consideration at the 2019 annual meeting. Accordingly, the election of directors at the 2019 annual meeting is an uncontested election.

        Under Georgia law, if, in an uncontested election at the annual meeting, a nominee who is already serving as a director is not elected, the director would continue to serve on our Board as a "holdover director." Under our bylaws, any holdover director who fails to be elected by a majority of the votes cast with respect to such director in an uncontested election must offer to tender his or her resignation to our Board. Our Board, in consultation with any of its committees so designated, would then determine whether to accept or reject the resignation, or whether other action should be taken. Under our bylaws, our Board is required to act on the resignation and publicly disclose its decision and the rationale behind it within 90 days from the date the election results are certified. Ms. Ballard, Mr. Gallagher and Ms. Hepner are currently serving on our Board.

        Abstentions and broker non-votes will have no effect on the vote for the election of directors. Proxies cannot be voted for a greater number of persons than the number of nominees named.

        Each nominee has consented to serve if elected, and our Board has no reason to believe that any of the nominees will be unable or unwilling to serve if elected. If a nominee becomes unwilling or unable to serve prior to the annual meeting, then at the recommendation of our Board: (1) proxies will be voted for a substitute nominee selected by or at the direction of our Board; (2) the vacancy created by the inability or unwillingness of a nominee to serve will remain open until filled by our Board; or (3) our bylaws may be amended to reduce the number of directors serving on our Board.

        OUR BOARD UNANIMOUSLY RECOMMENDS A VOTE "FOR" EACH OF MS. HELEN BALLARD, MR. THOMAS C. GALLAGHER AND MS. VIRGINIA A. HEPNER AS A CLASS III DIRECTOR.

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Proposal No. 2: Ratification of Independent Registered Public Accounting Firm

        Our Audit Committee has selected Ernst & Young LLP to serve as our independent registered public accounting firm for fiscal 2019, which appointment was ratified by our full Board. Ernst & Young LLP has served as our independent auditors since 2002.

        Our Board considers Ernst & Young LLP to be well qualified and recommends that our shareholders vote to approve their selection. Shareholder ratification of the selection of our independent registered public accounting firm is not required by law; however, our Board considers the solicitation of shareholder approval to be in our company's and our shareholders' best interests. A representative of Ernst & Young LLP is expected to attend the annual meeting. The representative will be given the opportunity to make a statement if he or she desires to do so and is expected to be available to respond to appropriate questions from shareholders.

        As of the date of this proxy statement, we have engaged Ernst & Young LLP to review our financial statements for the first three quarters of fiscal 2019 but we have not formally engaged an independent registered public accounting firm to audit our financial statements for fiscal 2019.

        Ratification of the selection of Ernst & Young LLP to serve as our independent registered public accounting firm for fiscal 2019 requires the affirmative vote of at least a majority of the outstanding shares of our common stock present at the annual meeting, in person or by proxy, and entitled to vote on the proposal. Abstentions will have the same effect as a vote against this proposal. If our shareholders do not ratify the selection of Ernst & Young LLP as our independent registered public accounting firm for fiscal 2019, our Audit Committee will consider whether it is appropriate to select another independent registered public accounting firm for fiscal 2019 and/or future years.

        OUR BOARD UNANIMOUSLY RECOMMENDS A VOTE "FOR" THE PROPOSAL TO RATIFY ERNST & YOUNG LLP TO SERVE AS OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR FISCAL 2019.

Proposal No. 3: Non-Binding, Advisory Vote to Approve Executive Compensation

        We are asking shareholders to indicate their support for our named executive officer compensation practices, as described in this proxy statement. This "say-on-pay" proposal gives our shareholders the opportunity to express their views on our executive compensation practices. The vote is not intended to address any specific item of compensation, but rather the overall compensation of our named executive officers and the philosophy, policies and practices described in this proxy statement.

        As further described below under "Executive Compensation—Compensation Discussion and Analysis," our executive compensation programs are designed to maintain a strong link between pay and performance for compensation paid to our named executive officers; align our named executive officers' interests with those of our shareholders by creating a strong focus on stock ownership; and ensure that we are able to attract and retain talented individuals who can deliver excellent business performance.

        We are asking our shareholders to vote on the following resolution at the annual meeting:

        Approval of the say-on-pay resolution requires the affirmative vote of at least a majority of the outstanding shares of our common stock present at the annual meeting, in person or by proxy, and entitled to vote on the proposal. Because broker

2019 PROXY STATEMENT 3


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non-votes are counted as present at the annual meeting for quorum purposes but are not counted as entitled to vote on this proposal, they will have no effect on the vote on the resolution approving executive compensation. Abstentions will have the same effect as a vote against this proposal.

        The vote on this say-on-pay proposal is advisory, and therefore the results of this proposal are not binding on our company, our NC&G Committee or our Board. The results of this proposal will not overrule any decision made by our Board or NC&G Committee. Our Board and our NC&G Committee value the input of our shareholders and to the extent there is any significant vote against this say-on-pay proposal, we will consider our shareholders' concerns and our NC&G Committee will evaluate whether any actions, in fiscal 2019 or in subsequent years, are necessary to address those concerns.

        OUR BOARD UNANIMOUSLY RECOMMENDS A VOTE "FOR" THE PROPOSAL APPROVING EXECUTIVE COMPENSATION.

4 2019 PROXY STATEMENT


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CORPORATE GOVERNANCE AND BOARD MATTERS

Directors

        Under our articles of incorporation, or charter, our Board is to consist of at least nine members, with the specific number fixed by our bylaws, as amended from time to time. Our bylaws have set the number of our directors at ten members, and we currently have ten members serving on our Board.

        Our charter provides that the members of our Board are to be divided into three classes. Our Board currently consists of three Class I directors (Messrs. Dennis M. Love, Clyde C. Tuggle and E. Jenner Wood III), four Class II directors (Messrs. Thomas C. Chubb III, John R. Holder, Stephen S. Lanier, and Clarence H. Smith) and three Class III directors (Ms. Helen Ballard, Mr. Thomas C. Gallagher and Ms. Virginia A. Hepner). The terms of our Class III directors expire at the 2019 annual meeting, while the terms of our Class I directors and Class II directors expire in 2020 and 2021, respectively.

        Our Board has unanimously nominated each of Ms. Helen Ballard, Mr. Thomas C. Gallagher and Ms. Virginia A. Hepner, who are currently Class III directors, for re-election at the annual meeting, each to serve for a three year term expiring in 2022 and until his or her respective successor is elected and qualified.

        The following sets forth certain information concerning our nominees for director, as well as a description of the specific experience, qualifications, attributes and skills that led our Board to conclude that each of these individuals should serve as a director.

Name
  Age   Director Since   Positions Held and Specific Experience and Qualifications
Helen Ballard   64   1998   Ms. Ballard is the owner of Helen Ballard LLC, a company she formed in 2015 in the business of home furnishing products design. Prior to forming Helen Ballard LLC, Ms. Ballard founded Ballard Designs, Inc. in 1983 and served as its Chief Executive Officer until she retired from that position in 2002. Ballard Designs, Inc. is a multichannel direct-to-consumer home furnishing retail business which is currently part of QVC, Inc. and its parent company Qurate Retail, Inc.

Ms. Ballard has more than 20 years of experience in a chief executive capacity. Ms. Ballard also previously served as a member of the Board of Directors of Cornerstone Brands, Inc., which was organized as a conglomerate of companies selling home and leisure goods and casual apparel through catalogs primarily aimed at affluent, well-educated consumers ages 35 to 60. Ms. Ballard's experience in direct-to-consumer businesses, in particular with business activities aimed at demographics overlapping those of our various operating groups, serves our Board well.

2019 PROXY STATEMENT 5


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Name
  Age   Director Since   Positions Held and Specific Experience and Qualifications
Thomas C. Gallagher     71   2013
(
previous service
1991 - 2007
)
  Mr. Gallagher retired from his position as Chief Executive Officer of Genuine Parts Company, a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials, in 2016. Mr. Gallagher had served in this capacity since 2004. Mr. Gallagher also served as the Executive Chairman of Genuine Parts from 2005 until his retirement from that position in 2017 and as the Non-Executive Chairman of Genuine Parts until his retirement from that position in April 2019. Mr. Gallagher served as President of Genuine Parts from 1990 to 2012 and Chief Operating Officer of Genuine Parts from 1990 until 2004. Mr. Gallagher continues to serve as a director of Genuine Parts Company.

Mr. Gallagher has more than 25 years of executive-level responsibilities with a NYSE-listed public company; brings extensive experience serving as a director of other companies, including having served on the Board of Directors of Genuine Parts for more than 25 years and having previously served on the boards of STI Classic Funds, STI Classic Variable Trust and National Services Industries, Inc.; and is extremely familiar with our company, having served on our Board for more than 20 years. Mr. Gallagher's business acumen, financial expertise and leadership skills are a valuable asset to our Board and Audit Committee.


Virginia A. Hepner

 


61

 

2016

 

Ms. Hepner retired from her position as President and Chief Executive Officer of The Woodruff Arts Center, a visual and performing arts center, in 2017. Ms. Hepner had served in this capacity since 2012. Prior to joining the Woodruff Arts Center, she served as a consultant to DMI Music and Media Solutions from 2011 until 2012. She is currently a principal investor in GHL, LLC, a private real estate investment partnership for commercial assets. Ms. Hepner retired from Wachovia Bank in 2005 as an Executive Vice President. Ms. Hepner serves as a director of Cadence Bancorporation (which is the successor by merger to State Bank and Trust Company, where Ms. Hepner had been serving as a director), including as a member of its Audit Committee. Ms. Hepner is also a member of the Board of Directors of National Vision Holdings, Inc., the Chair of its Nominating and Corporate Governance Committee and a member of its Audit and Compensation Committees. Ms. Hepner previously served as a director of Chexar Corporation (now named Ingo Money, Inc.).

Ms. Hepner has more than 25 years of corporate banking and capital markets experience, including having served as a senior officer with financial oversight responsibilities. Her financial expertise and leadership skills, also evidenced by her experience as a director of publicly held companies and overseeing various aspects of The Woodruff Arts Center's operations, serve our Board well.

        The following sets forth certain information concerning our Class I and Class II directors, whose terms expire in 2020 and 2021, respectively, as well as a description of the specific experience, qualifications, attributes and skills that led our Board to

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conclude that each of these individuals should serve as a director. Each of our Class I and Class II directors is currently expected to remain in office for the remainder of his current term.

Name
  Age   Director Since   Positions Held and Specific Experience and Qualifications
Thomas C. Chubb III   55   2012   Mr. Chubb is our Chairman, Chief Executive Officer and President. Mr. Chubb has served as our Chief Executive Officer and President since 2013 and was elected our Chairman in 2015. Mr. Chubb served as our President starting in 2009, as our Executive Vice President from 2004 until 2009, and as our Vice President, General Counsel and Secretary from 1999 to 2004. Mr. Chubb also serves as a member of the Board of Trustees of The Woodruff Arts Center, a member of the Board of Directors of the American Apparel and Footwear Association and President of the Atlanta Area Council of Scouts BSA.

Mr. Chubb has been employed by our company for more than 30 years and has been an executive with our company for 20 years. Mr. Chubb provided direct oversight for many of our operating groups for several years before being promoted to Chief Executive Officer and was instrumental in our transformation from our historical domestic private label manufacturing roots to becoming a global company engaged in the design, sourcing, marketing and distribution of lifestyle branded apparel products. Mr. Chubb's previous experience as our General Counsel also gives him key insights into the business, legal and regulatory environment in which we operate. Mr. Chubb's long history with our organization, his leadership skills and his knowledge of our businesses and industry serve our Board well.


John R. Holder

 

 

64

 

2009

 

Mr. Holder is Chairman and Chief Executive Officer of Holder Properties, Inc., a commercial and residential real estate development, leasing and management company, and has held that position since 1989. Mr. Holder has served as Chief Executive Officer of Holder Properties since 1980. He is a member of the Board of Directors and Compensation, Nominating and Governance Committee of Genuine Parts Company and also serves on the Board of Directors of SunTrust Bank's Atlanta Region.

Mr. Holder has demonstrated strategic leadership in growing Holder Properties, which has been involved in developing over 11 million square feet of real estate valued in excess of $2.5 billion, and also has extensive involvement in the financial and marketing areas of that business. His service as the Chairman and Chief Executive Officer of Holder Properties, together with various board affiliations including civic organizations and membership on the Audit and Compensation, Nominating and Governance Committees of Genuine Parts Company, has given him leadership experience, business acumen and financial literacy beneficial to our Board and Audit Committee.

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Name
  Age   Director Since   Positions Held and Specific Experience and Qualifications
Stephen S. Lanier   41   2018   Mr. Lanier is a Managing Partner of Fremantle Capital, LLC, a private investment firm that provides growth capital to mature, lower middle market companies primarily in the southeast and Texas. Prior to co-founding Fremantle Capital in 2017, Mr. Lanier spent seven years in leadership positions in operations, compliance, governmental affairs and the office of the general counsel of Southern Company, one of the nation's largest energy companies. Before joining Southern Company, Mr. Lanier served in the Central Intelligence Agency during the George W. Bush and Barack Obama administrations. Mr. Lanier began his career as a securities analyst for Merrill Lynch.

Mr. Lanier has more than 15 years of private and public sector experience in multiple industries. Mr. Lanier has extensive middle market M&A experience and has worked internationally in various regions. He has a strong financial background, having started his career as a securities analyst, as well as insight into the global markets and regulatory environments in which we operate, all of which provides valuable insights to our Board and Audit Committee.


Dennis M. Love

 

 

63

 

2008

 

Mr. Love is the retired Chairman of Printpack Inc., a manufacturer of flexible and specialty rigid packaging, a position he held from 2005 until 2017. Mr. Love also served as Chief Executive Officer of Printpack Inc. from 1987 until his retirement from that position in 2016. Mr. Love served as a director of AGL Resources, Inc. from 1999 until that company's merger with Southern Company in 2016. Mr. Love is also a director of the Cleveland Group, Inc.

Mr. Love has approximately 30 years of experience as a chief executive and has extensive service as a director of public companies, including having served on the Compensation and Employee Benefits Committee of Caraustar Industries, Inc. and the Nominating, Governance and Corporate Responsibility Committee of AGL Resources, Inc. The insight Mr. Love gained through these board affiliations serves our Board well. In addition, Mr. Love's stewardship of Printpack Inc.'s successful domestic and international acquisitions allows him to offer key insights into our operations and strategic decision making, making him a valuable asset to our Board and Audit Committee.

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Name
  Age   Director Since   Positions Held and Specific Experience and Qualifications
Clarence H. Smith   68   2003   Mr. Smith is Chairman of the Board, President and Chief Executive Officer of Haverty Furniture Companies, Inc., a full-service home furnishings retailer. Mr. Smith was elected Chairman of Havertys in 2012 and has served as its President and Chief Executive Officer since 2003. He served as President and Chief Operating Officer of Havertys from 2002 to 2003, Chief Operating Officer of Havertys from 2000 to 2002, and Senior Vice President, General Manager-Stores of Havertys from 1996 to 2000. Mr. Smith also serves on the Executive Committee of Havertys.

Mr. Smith has over 20 years of senior management experience at Haverty Furniture Companies, Inc., an Atlanta-based, publicly traded company with over 100 stores in 16 states, which affords our Board and our NC&G Committee valuable insight into compensation, governance and general business practices at a company with a brand management focus and retail and other direct-to-consumer business activities.


Clyde C. Tuggle

 

 

58

 

2011

 

Mr. Tuggle is a co-founder of Pine Island Capital Partners, a middle-market private equity investment firm. Mr. Tuggle retired as Senior Vice President, Global Public Affairs and Communications of The Coca-Cola Company in 2017, a position he held since 2009, and subsequently served as Senior Advisor to the Chief Executive Officer of Coca-Cola until April 2018. During his 30-year career, Mr. Tuggle held a number of senior management roles at Coca-Cola, including as Executive Assistant to the CEO; Deputy Division President, Central Europe; Senior Vice President, Worldwide Public Affairs and Communication; and President of Coca-Cola's Russia, Ukraine and Belarus Division. Mr. Tuggle serves on the Board of Directors of Georgia Power Company and TRIFORM, LLC.

Mr. Tuggle has more than 10 years of executive management experience at a publicly traded company heavily focused on brand management, which serves our Board well. In addition, Mr. Tuggle's experience at The Coca-Cola Company, which includes oversight of investor relations and public communications issues, provides key insights to our Board and Audit Committee.

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Name
  Age   Director Since   Positions Held and Specific Experience and Qualifications
E. Jenner Wood III   67   1995   Mr. Wood served as Corporate Executive Vice President of SunTrust Banks, Inc. from 1994 until his retirement in 2016. He also served as Chairman, President and Chief Executive Officer of the Atlanta Division of SunTrust Bank from 2014 to 2015. During his 40+ year career, Mr. Wood served in various corporate executive positions at SunTrust Bank, including as Chairman, President and Chief Executive Officer of the Atlanta/Georgia Division; Chairman, President and Chief Executive Officer of the Georgia/North Florida Division; and President, Chairman and Chief Executive Officer of SunTrust Bank Central Group. Mr. Wood is a director of The Southern Company and Genuine Parts Company. Mr. Wood serves on the Audit Committee of The Southern Company and on the Audit and Compensation, Nominating and Governance Committees of Genuine Parts Company. Mr. Wood previously served as a director of Crawford & Company until his retirement from that position in 2013. Mr. Wood is active in numerous civic and community organizations, having previously served as the Chairman of the Metro Atlanta Chamber of Commerce and currently serving as the Chairman of the Robert W. Woodruff Foundation, the Joseph B. Whitehead Foundation, the Lettie Pate Evans Foundation and the Jesse Parker Williams Foundation. Mr. Wood also serves as a trustee of the Sartain Lanier Family Foundation.

Mr. Wood's professional career includes more than 20 years in executive management positions with SunTrust Banks, Inc. and its various affiliates. Mr. Wood's insights with respect to financial issues and the financial services industry generally, including as it relates to the retail and business aspects of SunTrust Banks' operations, together with his extensive experience on the boards of directors and committees of various public and private companies, make him a valuable asset to our Board.

Director Independence

        Our Corporate Governance Guidelines provide that we will have a majority of "independent" directors under the NYSE's listing standards, as determined by the Board, and that, at least annually, our NC&G Committee will review each relationship that exists with a director and his or her related interests for the purpose of determining whether the director is independent. Based in part on our NC&G Committee's review, our Board annually considers the independence of each of our directors, as well as upon learning about intervening events that may impact director independence.

        At their March 2019 meetings, our NC&G Committee and full Board considered director independence. As part of this consideration, our NC&G Committee and Board broadly considered all relevant facts and circumstances, including the NYSE's corporate governance listing standards and all relevant transactions and relationships between each director (including each director's immediate family members and other affiliates) and our company and our management to determine whether any relationship might impair the director's ability to make independent judgments.

        Based on this review and consistent with the recommendation of our NC&G Committee, our Board affirmatively determined that all nine of our non-employee directors (Mses. Ballard and Hepner and Messrs. Gallagher, Holder, Lanier, Love, Smith, Tuggle and Wood) are independent.

        Mr. Chubb is currently our Chairman, Chief Executive Officer and President, and therefore not considered an independent director.

        In evaluating the independence of our directors, our NC&G Committee and Board gave particular consideration to the following relationships:

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        Our Board determined that these relationships were not material to a determination that the applicable individuals are independent, particularly taking into consideration, among other things, the objectivity of Mr. Thomas Gallagher and Mr. Stephen Lanier at previous meetings of our Board and the gap in time since Mr. J. Hicks Lanier's retirement.

Corporate Governance Guidelines; Conduct Policies

        Our Board has adopted Corporate Governance Guidelines that set forth certain guidelines for the operation of the Board and its committees. In accordance with its charter, our NC&G Committee periodically reviews and assesses the adequacy of our Corporate Governance Guidelines. As provided under our Corporate Governance Guidelines, our Board annually conducts a self-evaluation, which our NC&G Committee oversees. Our Board has the authority to engage its own advisors and consultants.

        Our Board has also adopted a Code of Conduct for all of our directors, officers and employees, as well as an ethical conduct policy that applies to our senior financial officers, specifically our chief executive officer and our chief financial officer and controller. We intend, if applicable, to disclose amendments to our Code of Conduct and our ethical conduct policy for our senior financial officers (other than technical, administrative or other non-substantive amendments) and material waivers of (or failure to enforce) any provisions of these conduct policies (if applicable to any of our directors or executive officers) on our website at www.oxfordinc.com.

Corporate Social Responsibility

        Our company recognizes the importance of fostering a culture of social responsibility, which is embodied in our Code of Conduct and can be summed up in four words: Do the right thing. For our company, this means doing the right thing for our people, the places we work and our planet, as embodied in the following three pillars of our corporate social responsibility initiatives.

        We believe that all individuals should be treated with respect and dignity. Our long-term sustainability as a global organization is built on two basic tenets: (1) provide our team members with an enriching environment in which to develop professionally; and (2) ensure fair and safe working conditions for all workers engaged within our supply chain.

        Having been in business for over 75 years, we recognize that in order for a company to survive, it must develop deep connections with the communities in which it operates. We recognize the impact we can have on our communities and understand our responsibility in making the world a better place for future generations. We are proud of our company, our brands and our personnel for the manner in which we strive to support our communities, through volunteer efforts, charitable giving, sponsorship activities and working with like-minded, responsible business partners.

        We are cognizant of the impact that our operations can have on the environment and actively explore and pursue environmentally-friendly processes throughout our businesses. In order to make the world a better place for future generations, we understand that we must operate our business in a way that reduces waste and minimizes the impact of our operations on the planet. Our sustainability activities include, for example: (1) energy efficiency initiatives; (2) waste minimization efforts; (3) the use of recycled materials within our supply chain; (4) the implementation of environmentally responsible solutions at our physical locations; (5) working with trade organizations to keep up with industry developments and opportunities; and (6) the incorporation of sustainable raw materials in our products.

        For more information, please visit the "Corporate Responsibility" tab on our website at http://www.oxfordinc.com.

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Board Meetings and Committees of our Board of Directors

        During fiscal 2018, our Board held four meetings and committees of our Board held a total of five meetings. During fiscal 2018, each of our directors attended at least 75% of the aggregate number of meetings of our Board and of all committees of which the director was a member during the period he or she was a director or committee member. Although we do not have a formal policy requiring attendance by directors at our annual meetings of shareholders, as stated in our Corporate Governance Guidelines, we encourage directors to attend our annual meetings of shareholders in person. In order to help facilitate attendance by our directors, we generally schedule our annual meetings of shareholders to coincide with the date of a quarterly meeting of our Board. All of our directors attended our 2018 annual meeting.

        Our Board has a standing Executive Committee, Audit Committee and NC&G Committee. The following table identifies the members of each of these committees as of April 18, 2019 and the number of meetings (and actions taken by written consent in lieu of meetings) held by each of these committees during fiscal 2018.

Name
  Executive Committee   Audit Committee   NC&G
Committee

Helen Ballard*

      X

Thomas C. Chubb III

  chair        

Thomas C. Gallagher*

    X  

Virginia A. Hepner*

          X

John R. Holder*

    X  

Stephen S. Lanier*

      X    

Dennis M. Love*

  X   chair  

Clarence H. Smith*

  X       chair

Clyde C. Tuggle*

    X  

E. Jenner Wood III*

  X       X

Total Number of Meetings

  0   4   1

Actions by Written Consent

  1   1   2

*
Independent Director

Executive Committee

        Our Executive Committee has the power to exercise the authority of the full Board in managing the business and affairs of our company, except certain powers that are reserved to our full Board under Georgia law. In practice, our Executive Committee serves as a means for taking action requiring our Board's approval between its regularly scheduled meetings.

Audit Committee

        Our Audit Committee was established in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (which we refer to as the "SEC") and assists our Board in fulfilling its responsibilities by overseeing the following: (1) the integrity of our financial statements, reporting processes and systems of internal controls; (2) our compliance with applicable laws and regulations; (3) the qualifications and independence of our independent registered public accounting firm; (4) the performance of our internal audit department and our independent registered public accounting firm; and (5) our guidelines and policies for risk assessment and risk management.

        The principal duties and responsibilities of our Audit Committee are set forth in its charter. Pursuant to its charter, our Audit Committee has full access to our books, records, facilities and personnel, as well as the express authority to retain, at our company's expense, any outside legal, accounting or other advisors that it deems necessary or helpful to the performance of its responsibilities. Pursuant to its charter, our Audit Committee is also charged with reviewing our guidelines and policies with respect to risk assessment and risk management, including cybersecurity risks and major financial risk exposures, and the steps taken by our management to monitor and control those risks. In addition, our Audit Committee may exercise additional authority prescribed from time to time by our Board.

        Our Board annually evaluates the financial expertise and independence of the members of our Audit Committee. Following its review in March 2019, our Board determined that Mr. Holder and Mr. Love are "audit committee financial experts," as that term is defined by SEC rules and regulations, and that all of the members of our Audit Committee are financially literate in accordance with the NYSE's governance listing standards and SEC rules and regulations.

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Nominating, Compensation & Governance Committee (or NC&G Committee)

        The purpose of our NC&G Committee is to: (1) assist our Board in fulfilling its responsibilities with respect to the compensation of our executive officers; (2) recommend candidates for all directorships to be filled; (3) identify individuals qualified to serve as members of our Board; (4) review and recommend committee appointments; (5) take a leadership role in shaping our corporate governance; (6) develop and recommend our Corporate Governance Guidelines to our Board for adoption; (7) lead our Board in an annual review of its own performance; and (8) perform other functions that it deems necessary or appropriate. Pursuant to its charter, our NC&G Committee has the express authority to retain or obtain the advice of a compensation consultant, independent legal counsel or other advisor, at our company's expense.

        Our NC&G Committee also has the following responsibilities, among others, related to compensation matters: (1) administering our stock option and restricted stock plans; (2) reviewing and approving corporate goals and objectives relevant to the compensation of our Chief Executive Officer, evaluating our Chief Executive Officer's performance in light of those goals and objectives and determining the compensation of our Chief Executive Officer based upon this evaluation; (3) reviewing and approving the compensation of our non-CEO executive officers; and (4) making recommendations to our Board regarding certain incentive compensation plans and equity-based plans. In addition, as part of its oversight of our overall compensation program, our NC&G Committee considers our compensation policies and procedures, including the incentives that they create and factors that may influence excessive risk taking.

        Following its review in March 2019, our Board determined that all of the members of our NC&G Committee are independent and meet the enhanced independence standards applicable to compensation committee members under the NYSE's corporate governance listing standards and SEC rules and regulations. For information about the role of executive officers and compensation consultants in determining compensation, see "Executive Compensation—Compensation Discussion and Analysis" below.

Meetings of Non-Employee Directors

        Pursuant to our Corporate Governance Guidelines, our non-employee directors periodically meet separately in executive sessions. Mr. Wood, as our lead director, chaired the meetings of our non-employee directors during fiscal 2018.

Board Leadership

        Our Board is responsible for governing the affairs of our company for the benefit of our shareholders. In discharging this responsibility, our Board relies on the judgment, business acumen and experience of our qualified management team. Our directors believe that the appropriate leadership structure for our Board may change from time to time. As stated in our Corporate Governance Guidelines, our Board does not have a policy as to whether our Chief Executive Officer should also serve as chair of our Board. The Board makes this decision as it deems appropriate from time to time based upon the relevant factors applicable to each case. At least annually, the Board deliberates on and discusses the appropriate leadership structure for our Board based on the needs of our company.

        Our Board is currently comprised of nine independent directors and one management director (our current Chairman, Chief Executive Officer and President, Mr. Chubb). In electing Mr. Chubb as our Chairman, our Board considered Mr. Chubb's leadership qualities; management capability; knowledge of our business and industry; long-term, strategic perspective demonstrated over the course of many years; and performance as our Chief Executive Officer and President.

        In Mr. E. Jenner Wood III, we also have an active, engaged lead (independent) director. In his capacity as the lead director, Mr. Wood sets the agenda for, and chairs, executive sessions of our non-employee directors; serves as a liaison between independent directors and Mr. Chubb; and serves as a liaison between our shareholders and our independent directors. As lead director, Mr. Wood is in regular contact with Mr. Chubb about our operating results and activities, risks to our business and business prospects.

        We also have a supermajority of independent directors, regular meetings of our non-employee directors in executive session and an Audit Committee and NC&G Committee (each of which reports to our full Board on a quarterly basis on significant committee activities) comprised solely of independent directors. Our Board believes the current leadership structure, comprised of an executive chair and CEO balanced with a strong lead director tasked with significant specified duties, is in the best interests of our company and shareholders.

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Director Nomination Process

        In accordance with our Corporate Governance Guidelines, our NC&G Committee periodically reviews the skills and characteristics required of our directors in the context of the make-up of our Board. This assessment includes issues such as independence, expertise, age, diversity, general business knowledge and experience, financial literacy, availability and commitment, as well as other criteria that our NC&G Committee finds to be relevant. We believe continuity in director service promotes stability and provides our company with the benefit of accumulated familiarity and insight. Accordingly, our NC&G Committee's process for identifying nominees reflects our company's practice of re-nominating incumbent directors whom the committee believes will continue to beneficially contribute to our Board.

        Although our Board does not follow any ratio or formula to determine the appropriate mix of directors, consistent with our Corporate Governance Guidelines, our NC&G Committee recognizes that a diversity of viewpoints and practical experiences can enhance our Board's effectiveness. Accordingly, it is the practice of our NC&G Committee in evaluating the diversity of potential director candidates to give particular consideration to the diverse experiences and perspectives that a prospective candidate may bring to our Board. In order to accomplish its objectives, our NC&G Committee's evaluations of potential candidates generally involve a review of the candidate's background and credentials, interviews of a candidate by members of our Board and discussions among our directors. Based on its evaluation in light of the foregoing factors, our NC&G Committee recommends candidates to our full Board which, in turn, selects candidates to be nominated for election by the shareholders or to be elected by our Board to fill a vacancy.

Director Compensation

        For fiscal 2018, our non-employee directors were compensated in accordance with the following program guidelines:

        To further encourage our directors to enhance their ownership of our stock, our non-employee directors are given the option to elect to receive their annual cash retainers in the form of a one-time restricted stock grant having a grant date fair value equal to the retainer. For fiscal 2018, two of our non-employee directors elected to receive their cash retainers in the form of restricted stock.

        Director compensation is paid for the 12-month period commencing with each annual meeting of shareholders. Accordingly, the fiscal 2018 director compensation program described above applies to the period starting with the 2018 annual meeting held on June 20, 2018 and concluding with this year's annual meeting on June 18, 2019 and does not coincide with our 2018 fiscal year for which director compensation is reported in the table below under "—Director Compensation for Fiscal 2018."

        Under our Deferred Compensation Plan, our non-employee directors are eligible to defer receipt of up to 100% of their cash retainers. Participating non-employee directors are permitted to "invest" their deferred fees among a platform of investment options that are available to our eligible employees who participate in the plan. Our Deferred Compensation Plan is an unfunded, non-qualified deferred compensation plan, and participants' account balances are subject to the claims of our company's creditors. In the event that our company becomes insolvent, participants in the plan would be unsecured general creditors with respect to their account balances, which we believe further aligns the interests of our participating directors with the long-term interests of our shareholders. Because our Deferred Compensation Plan does not provide above-market, fixed rates of return, earnings under the plan are not included in the table below under "—Director Compensation for Fiscal 2018." Three of our non-employee directors elected to participate in our Deferred Compensation Plan during fiscal 2018.

        Employee directors do not receive an annual retainer or meeting fees for their service on our Board.

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        The table below summarizes the compensation for our non-employee directors for fiscal 2018.

Name
  Fees Earned
or Paid in
Cash($)
  Stock
Awards
($)(1)
  All Other
Compensation
($)(2)
  Total
($)(3)
 

Helen Ballard

  43,798   69,952   1,213   114,963  

Thomas C. Gallagher

    43,798     69,952     1,213     114,963  

Virginia A. Hepner

  43,798   69,952   1,213   114,963  

John R. Holder

    73     114,927     1,682     116,682  

Stephen S. Lanier

  30,048   69,952   860   100,860  

Dennis M. Love

    43     127,457     1,815     129,315  

Clarence H. Smith

  56,298   69,952   1,213   127,463  

Clyde C. Tuggle

    43,798     69,952     1,213     114,963  

E. Jenner Wood III

  56,298   69,952   1,213   127,463  

(1)
Represents the aggregate grant date fair value of restricted stock granted in fiscal 2018, computed in accordance with FASB ASC Topic 718. Information about the assumptions used to value these awards can be found under the captions "Equity Compensation" and "Long-Term Stock Incentive Plan" in Notes 1 and 7, respectively, in our Fiscal 2018 Annual Report on Form 10-K and as described below under "Executive Compensation—Compensation Discussion and Analysis—Long-Term Incentive Compensation." As of February 2, 2019, Mr. Holder held 978 restricted shares of our common stock; Mr. Love held 1,016 restricted shares of our common stock; and each of our other current non-employee directors held 843 restricted shares of our common stock.

(2)
Represents the dollar value of dividends paid on unvested stock awards which was not factored into the grant date fair value for the stock.

(3)
In addition, from time to time, our directors receive discounted and complimentary apparel and related merchandise. We do not believe that the aggregate incremental cost to us of these discounts and benefits exceeds $10,000 for any of our directors and, in accordance with SEC rules and regulations, have excluded them from this table.

        To reinforce the alignment of the interests of our directors with the long-term interests of our shareholders, our Board has established stock ownership guidelines applicable to our non-employee directors. Under these guidelines, each of our non-employee directors is expected to accumulate and hold shares of our common stock having a fair market value equal to 2.0x the director's annual retainer. Our non-employee directors have four years from their appointment to meet their ownership guideline requirement. Each of our non-employee directors has met his/her ownership guideline.

        Our Corporate Governance Guidelines also provide for a retention guideline, or holding period, of one year for stock acquired upon the exercise of options or lapse of restrictions on restricted stock (net of funds reasonably expected to be necessary to satisfy applicable taxes and/or pay the exercise price of stock options) that applies to our non-employee directors.

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EXECUTIVE OFFICERS

        All of our executive officers are elected by and serve at the discretion of our Board. The following table sets forth information about our executive officers as of [April 18, 2019]:

Name
  Age   Title   Biography
Thomas C. Chubb III   55   Chairman, Chief Executive Officer and President   Mr. Chubb is our Chairman, Chief Executive Officer and President. He has served as Chief Executive Officer and President since 2013 and was also elected our Chairman in 2015. Mr. Chubb served as our President starting in 2009, as our Executive Vice President from 2004 until 2009, and as our Vice President, General Counsel and Secretary from 1999 to 2004. Mr. Chubb also serves as a member of the Board of Trustees of The Woodruff Arts Center, a member of the Board of Directors of the American Apparel and Footwear Association and President of the Atlanta Area Council of Scouts BSA.

Thomas E. Campbell

 

55

 

Executive Vice President-People & Technology

 

Mr. Campbell is Executive Vice President-People & Technology and has served in that capacity since February 2019. Previously, Mr. Campbell served as our Executive Vice President-Law and Administration, General Counsel and Secretary from 2014 through February 2019; as our Senior Vice President-Law and Administration, General Counsel and Secretary from 2011 to 2014; as our Senior Vice President-Law, General Counsel and Secretary from 2008 to 2011; and as our Vice President-Law, General Counsel and Secretary from 2006 to 2008.

K. Scott Grassmyer

 

58

 

Executive Vice President-Finance, Chief Financial Officer and Controller

 

Mr. Grassmyer is Executive Vice President-Finance, Chief Financial Officer and Controller and has served in this capacity since 2014. Previously, Mr. Grassmyer served as our Senior Vice President-Finance, Chief Financial Officer and Controller from 2011 to 2014; as our Senior Vice President, Chief Financial Officer and Controller from 2008 to 2011; as our Senior Vice President and Controller from 2004 to 2008; and as our Vice President and Controller from 2003 to 2004. Mr. Grassmyer was appointed our Controller in 2002.

J. Wesley Howard, Jr.

 

59

 

President, Lanier Apparel

 

Mr. Howard is President, Lanier Apparel (one of our operating groups) and has held that position since 2011. Since becoming President of Lanier Slates in 1997, Mr. Howard has served in various capacities for Lanier Apparel, including as President, Special Programs from 2005 to 2010; as President, Brands and Special Programs during a portion of 2010; and as President, Sales and Merchandising during a portion of 2011.

Michelle M. Kelly

 

40

 

Chief Executive Officer, Lilly Pulitzer

 

Ms. Kelly is Chief Executive Officer, Lilly Pulitzer (one of our operating groups) and has held that position since 2016. She served as President of Lilly Pulitzer from 2015 until her promotion in 2016. She has worked for Lilly Pulitzer for almost 15 years having served as Executive Vice President, Brand Distribution, Marketing & Merchandising from 2014 to 2015; as Senior Vice President, Brand Distribution, Marketing & Merchandising from 2013 to 2014; as Senior Vice President, Merchandising, Marketing and Retail from 2010 to 2013; and as Vice President, eCommerce, Online Marketing & Stores in 2010.

Suraj A. Palakshappa

 

43

 

Vice President-Law, General Counsel and Secretary

 

Mr. Palakshappa is Vice President-Law, General Counsel and Secretary and has served in that capacity since February 2019. Prior to his promotion, Mr. Palakshappa served as our Vice President-Law, Deputy General Counsel and Assistant Secretary starting in 2015. Mr. Palakshappa has worked in various capacities in our legal department since 2006.

Douglas B. Wood

 

54

 

Chief Executive Officer, Tommy Bahama

 

Mr. Wood is Chief Executive Officer, Tommy Bahama (one of our operating groups) and has held that position since 2016. Prior to his promotion in 2016, he served as Tommy Bahama's President and Chief Operating Officer from 2008 to 2016 and as its Chief Operating Officer from 2001 to 2008.

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EXECUTIVE COMPENSATION

Introduction

        In this section of the proxy statement, we provide information about our executive compensation program specifically as it relates to our "named executive officers," or NEOs. This information includes: (1) a Compensation Discussion and Analysis discussing, among other things, how and why our NC&G Committee (which we refer to in this section of the proxy statement as our "compensation committee") made its fiscal 2018 compensation decisions for our NEOs; (2) the compensation tables required by the SEC's rules and regulations; and (3) a summary of certain limited arrangements with our NEOs that provide for payments upon defined change of control events or upon termination of employment.

        Under the SEC's rules, our NEOs for purposes of this proxy statement consist of our principal executive officer, principal financial officer and three other most highly compensated executive officers who were serving at the end of fiscal 2018. For fiscal 2018, our NEOs were as follows:

Compensation Discussion and Analysis

        We are a global apparel company that designs, sources, markets and distributes products bearing the trademarks of our Tommy Bahama, Lilly Pulitzer and Southern Tide lifestyle brands and other owned and licensed brands as well as private label apparel products. During fiscal 2018, 93% of our net sales were from our owned lifestyle brands and 69% of our net sales were through our direct to consumer channels of distribution. In fiscal 2018, 96% of our consolidated net sales were to customers located in the United States.

        Our business strategy is to develop and market compelling lifestyle brands and products that evoke a strong emotional response from our target consumers. We consider lifestyle brands to be those brands that have a clearly defined and targeted point of view inspired by an appealing lifestyle or attitude. Furthermore, we believe lifestyle brands that create an emotional connection, like Tommy Bahama, Lilly Pulitzer and Southern Tide, can command greater loyalty and higher price points at retail and create licensing opportunities, which may drive higher earnings. We believe the attraction of a lifestyle brand depends on creating compelling product, effectively communicating the respective lifestyle brand message and distributing products to consumers where and when they want them.

        Overall, our fiscal 2018 financial results were solid, particularly taking into consideration the rapidly-evolving retail apparel market and our decision to scale back on our brand exposure to the department store channels of distribution. We were able to deliver a solid return to our shareholders, and we believe that the compensation paid to our NEOs in respect of fiscal 2018 correlates to our financial performance. Notably:

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        At our 2018 annual meeting, we held an advisory vote seeking shareholder approval of a "say-on-pay" proposal approving our NEO compensation program. At the 2018 annual meeting, over 99.5% of the votes cast on our say-on-pay proposal were in support of our NEO compensation program, as described in our 2018 proxy statement. Our compensation committee regularly evaluates market compensation practices, taking into consideration information relating to compensation paid by peers, and implements changes as it deems appropriate. Recognizing the strong shareholder support on last year's say-on-pay proposal, our compensation committee has continued to apply the same principles and general compensation programs.

        Our executive compensation programs are designed to:

        Consistent with these objectives, our NEO compensation practices incorporate the following in consideration of the long-term best interests of our shareholders:

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        Compensation Consultants.    Pursuant to its charter, our compensation committee has the authority, with our company's funding, to retain or obtain the advice of a compensation consultant to assist in the performance of its responsibilities; provided, that, it will retain such an advisor only after taking into consideration relevant factors relating to the advisor's independence from our management.

        Our compensation committee again retained Mercer (US) Inc. as its compensation consultant during fiscal 2018 to assist and advise with various executive compensation matters, including the total compensation paid to our executive officers, the individual components of executive officer compensation, and market data, including the peer group, used in reviewing and formulating executive officer compensation.

        In relation to our compensation committee's retention of Mercer, our compensation committee considered various factors relating to the advisor's independence from our management, including those enumerated by the NYSE. As part of its evaluation, our compensation committee considered the following: Mercer's parent company Marsh & McLennan Companies provides insurance brokerage services to our company; the fees paid to Marsh & McLennan (including Mercer) in connection with those brokerage services represented a nominal amount of the revenues generated by that company; Mercer's policies and procedures relating to conflicts of interest; the fact that the Mercer consultants that work with our company do not own any of our common stock; and certain consulting services provided by Mercer to employers of certain of our compensation committee members. Following its review, our compensation committee concluded that Mercer was independent.

        Key Participant Roles.    The following table summarizes the significant roles of the various key participants, including those of certain of our executive officers, in the decision-making process with respect to NEO compensation, in particular for fiscal 2018:

Participant
  Roles
Board of Directors  

Reviews and approves changes in equity and cash incentive plans available to our NEOs (other than those generally available to employees of our company on a non-discriminatory basis), including submission of plans to our shareholders for approval as may be required

Appoints the members of our compensation committee

Compensation Committee

 

Establishes and communicates the performance objectives for our Chief Executive Officer

Evaluates the performance of our Chief Executive Officer

Determines and approves the base salary and cash incentive award opportunities for our Chief Executive Officer

Reviews our Chief Executive Officer's compensation recommendations for, and performance evaluation of, each of our other NEOs

Approves the base salary and cash incentive award opportunities for each of our other NEOs

Reviews and approves all equity compensation awards, including those to our NEOs

Oversees our company's risk profile that results from our compensation programs

Engages a compensation consultant, as it deems appropriate, to assist the committee

Committee's Compensation Consultant

 

Reviewed compensation programs and recommendations for fiscal 2018 total and component compensation for our NEOs relative to market comparables

Reviewed and provided recommendations for peer group composition for fiscal 2018

Reviewed and provided recommendations for program design for equity compensation programs and cash incentive plans for our NEOs

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Participant
  Roles
Executive Officers    

Chairman, Chief Executive Officer and President

 

Attends portions of our compensation committee meetings, at the invitation of the committee

Reviews performance of our other executive officers

Provides our compensation committee with base salary and target cash and equity incentive compensation recommendations for our other executive officers (but does not influence or make recommendations with respect to his own compensation)

Together with our Chief Financial Officer and other executive officers, recommends performance goals applicable to performance-based compensation

Executive Vice President-People & Technology

 

Attends portions of our compensation committee meetings, at the invitation of the committee

Oversees review of market data on executive officer compensation, including applicable ranges of base salary and total cash compensation paid to comparable executives at peer companies

Assists with design and implementation of compensation programs, including equity compensation programs

Executive Vice President-Finance, Chief Financial Officer and Controller

 

Attends portions of our compensation committee meetings, at the invitation of the committee

Provides budget information and preliminary recommendations to our Chief Executive Officer and, ultimately, to our compensation committee on performance goals applicable to performance-based compensation

Provides and certifies financial information used in determining satisfaction of performance targets

Assists with design and implementation of compensation programs, including equity compensation programs

Vice President-Law, General Counsel and Secretary

 

Attends portions of our compensation committee meetings, at the invitation of the committee

Prepares and provides agenda materials for our compensation committee meetings

Assists with design and implementation of compensation programs, including equity compensation programs

Updates and summarizes key legal and corporate governance developments relating to compensation practices

        Market Data.    We utilize market surveys to obtain a general understanding of compensation practices and trends, and in evaluating market comparisons of compensation paid to our NEOs when making compensation recommendations and decisions for our NEOs. For fiscal 2018 compensation reviews, we utilized the applicable IPAS Global Consumer Goods Surveys; Mercer's Executive Remuneration Surveys; and Willis Towers Watson's General Industry and Retail/Wholesale Survey Reports on Executive Compensation. We do not have any input into the companies that make up these surveys.

        In addition, our compensation committee reviews compensation data obtained from publicly available sources for peer companies. For fiscal 2018, our compensation committee reviewed relevant compensation data from the following companies:

bebe stores, inc.
Buckle Inc.
Carter's, Inc.
Chico's FAS Inc.
Children's Place, Inc.
Columbia Sportswear Company
  Deckers Outdoor Corporation
Delta Apparel, Inc.
G-III Apparel Group, Ltd.
Guess?, Inc.
lululemon athletica inc.
New York & Company, Inc.
  Perry Ellis International, Inc.
Steven Madden, Ltd.
Tapestry, Inc.
Urban Outfitters, Inc.
Vera Bradley, Inc.

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        Total compensation for our NEOs in 2018, and prior years, has consisted of the following:

GRAPHIC

Compensation Component
  Purpose
Base Salary   Base salary provides a competitive level of guaranteed cash compensation that allows us to attract and retain qualified executives and to compensate them for performing basic job responsibilities.

Short-Term/Annual Incentive Compensation

 

Cash incentive awards provide our NEOs with variable cash compensation opportunities based on company and/or operating group performance and are used, among other things, to attract and retain qualified executives; align the compensation paid to our executive officers with our company's performance; and motivate our executive officers to work to achieve and exceed specific company performance goals.

Long-Term Equity Compensation (both performance-based and time-vesting)

 

Long-term equity compensation awards provide our NEOs with equity compensation opportunities under our LTIP based on company performance and/or the satisfaction of multi-year service requirements, which further aligns the interests of our executives with those of our shareholders by encouraging retention, motivating our executive officers to work to achieve and exceed performance goals and rewarding increases in stock price.

Benefit and Perquisites

 

Our NEOs are generally eligible to participate in various health, life insurance, retirement, stock purchase, disability and merchandise discount plans we have established for other employees and/or executives. These benefit plans and perquisites are designed to attract and retain key employees by providing benefits competitive with those generally available.

        Target Compensation Levels.    In recent years, our compensation committee has generally utilized the median of total cash compensation (base salary and cash incentive awards) for similar positions identified using industry and general market data, as well as that of similarly situated executives at the peer company group, as a guideline for evaluating and approving the target total cash compensation for our NEOs. In establishing specific base salary amounts and cash incentive award target amounts payable to any individual NEO, our compensation committee takes into consideration a number of factors, such as the individual's specific role, the individual's performance and accomplishment of significant business strategies, the size of the individual's operating group or business unit, the oversight and other responsibilities of the individual, the individual's employment experience, the individual's compensation history at our company, other factors related to the scope or unique nature of the position's responsibilities, and retention considerations. For reference, total target cash compensation approved by our compensation committee for our Chief Executive Officer for fiscal 2018 was approximately 82% of the peer group median and at the market survey median studied by the committee.

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        In approving the amount of long-term equity compensation granted to our NEOs, our compensation committee reviews market data to understand trends and general compensation practices (for example, typical vesting periods, types and values of equity grants and/or the mix of cash and equity compensation). In approving our fiscal 2018 equity compensation program, which is described under "—Long-Term Equity Incentive Compensation," our compensation committee also took into consideration market survey and peer group data on equity compensation ranges and recommendations made by the compensation consultant engaged by our compensation committee in order to assess the competitiveness of our company's compensation practices. For reference, total target direct compensation (cash and equity) approved by our compensation committee for our Chief Executive Officer for fiscal 2018 was approximately 54% of the peer group median and 76% of the market survey median studied by the committee.

        Compensation Mix.    Our compensation committee reviews all components of the compensation payable to our NEOs, including base salaries, cash incentive awards and long-term equity compensation. Our compensation committee generally increases target incentive award levels for an NEO as such officer's responsibilities within our organization increase, thereby more heavily weighting the variable elements of compensation for our most senior executives who are more likely to have a strong and direct impact in achieving strategic and financial goals that are most likely to affect shareholder value. Our compensation committee believes that the best interests of our shareholders are served by tying pay to performance and subjecting a meaningful proportion of our NEOs' total compensation to the achievement of company and/or operating group goals. When approving the total target compensation of our NEOs, our compensation committee takes into consideration the allocation of the total compensation to base salary, short-term incentive compensation and long-term equity compensation; however, our compensation committee does not expressly allocate or target a specified percentage of total compensation to individual components.

        We have four primary elements of direct compensation for our NEOs, which are described below: base salary; short-term (cash) incentive compensation; performance-based long-term equity awards with additional service requirements; and service-based long-term equity awards. As illustrated below, a significant portion of our NEOs' total target direct compensation for fiscal 2018 was "at risk" compensation tied to our company's performance, which we believe further aligns the interests of our NEOs with those of our shareholders*:

CEO   Other NEOs

GRAPHIC

 

GRAPHIC

*
Numbers may not equal 100% due to rounding.

        Our compensation committee utilizes base salaries to provide a fixed amount of compensation to our NEOs for the performance of their duties. Base salaries of our NEOs are reviewed on an annual basis. Our compensation committee determines the salary of our Chief Executive Officer and reviews and approves (with or without modification) our Chief Executive Officer's recommended salaries for our other executive officers.

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        Chief Executive Officer's Review.    In March 2018, our compensation committee evaluated Mr. Chubb's performance. As part of its review, our compensation committee considered Mr. Chubb's and our company's performance and achievements during fiscal 2017, including in particular:

        Following a review of relevant market data with respect to each of our NEOs, individual performance and contributions to our company, the earned compensation amounts for fiscal 2017 and the financial performance of our company and various business units, our compensation committee approved the following merit-based increases in base salary (which became effective following the committee's meeting in March 2018):

 
  Base Salary    
   
 
  Percentage
Change
   
Name
  Fiscal 2018   Fiscal 2017    

Thomas C. Chubb III

  $ 880,000   $ 855,000   2.9 %  

Thomas E. Campbell

  $ 425,000   $ 412,000     3.2 %  

K. Scott Grassmyer

  $ 425,000   $ 412,000   3.2 %  

Michelle M. Kelly

  $ 550,000   $ 530,000     3.8 %  

Douglas B. Wood

  $ 742,500   $ 721,000   3.0 %  

        Our compensation committee has utilized cash incentive awards to provide our NEOs with variable cash compensation opportunities based on company and/or operating group performance.

        For fiscal 2018, our compensation committee approved an annual cash incentive program for our NEOs. The program set target awards and performance goals based exclusively on the performance of our company or applicable operating group during the year. The fiscal 2018 program was generally similar in structure and operation to the program utilized in recent years.

        Consistent with the objective of motivating our NEOs to achieve and exceed performance goals, our compensation committee approved threshold, target and maximum award levels expressed as a percentage of each NEO's base salary for fiscal 2018, as follows:

 
  Cash Incentive Awards (% of Base Salary)    
Name
  At Threshold   At Target   At Maximum    

Thomas C. Chubb III

  25 % 100 % 175 %  

Thomas E. Campbell

    12.5 %   50 %   87.5 %  

K. Scott Grassmyer

  12.5 % 50 % 87.5 %  

Michelle M. Kelly

    15 %   60 %   105 %  

Douglas B. Wood

  15 % 60 % 105 %  

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        For cash incentive awards that could become payable to Mr. Chubb, Mr. Campbell and/or Mr. Grassmyer, our compensation committee approved individual performance measures based on profit before taxes, as adjusted for non-recurring or unusual items (PBT), of our company and each of our operating groups. The total cash incentive award for each of these individuals was comprised of distinct performance measure components tied to our company as a whole, as well as each of our operating groups individually. PBT is a performance measure which we believe drives shareholder value by focusing management on the profitability of our company and/or operating groups, taking into consideration the cost of the capital being deployed.

        For cash incentive awards that could become payable to Ms. Kelly, the incentive award was based entirely on our Lilly Pulitzer operating group's satisfaction of applicable PBT targets. For cash incentive awards that could become payable to Mr. Wood, the incentive award was based entirely on our Tommy Bahama operating group's satisfaction of applicable PBT targets.

        For each of our NEOs, no cash incentive would be payable for fiscal 2018 unless the applicable threshold performance measure for the applicable operating group and/or our company was satisfied.

        In establishing performance targets for cash incentive award opportunities for each of our NEOs for fiscal 2018, our compensation committee took into consideration our forecasts for the fiscal year and anticipated changes in our business(es) from the prior year.

 
   
   
   
   
   
  Weighting
for
Corporate
Composite
Bonus
  Weighted
Contribution to
Actual Corporate
Composite Bonus
Earned*
   
 
  Performance Target    
  Actual
Achievement
as a Percent
of Target
   
 
  Actual
Performance
   
Performance Measure(s) ($ in 000s)
  Threshold   Target   Maximum    

PBT of total company

  $ 53,304   $ 62,710   $ 72,117   $ 60,144   79.5 % 50.0 % 39.8 %  

PBT of Tommy Bahama

  $ 27,600   $ 34,500   $ 41,400   $ 33,069     84.4 %   25.0 %   21.1 %  

PBT of Lilly Pulitzer

  $ 34,942   $ 42,354   $ 49,766   $ 38,310   59.1 % 20.0 % 11.8 %  

PBT of Lanier Apparel

  $ 1,800   $ 4,500   $ 5,985   $ 2,025     31.2 %   2.5 %   0.8 %  

PBT of Southern Tide

  $ 2,550   $ 3,400   $ 4,250   $ 3,894   143.6 % 2.5 % 3.6 %  
               

                                  100.0 %   77.1 %  

*
The sum of the component contributions may not equal the total due to rounding.

        The target PBT for each group and for our total company took into consideration our forecasts for fiscal 2018, while focusing our operating groups on achieving significant year-over-year percentage growth within their respective businesses to achieve target.

        Based on our fiscal 2018 performance, each of our NEOs earned the following cash incentives in respect of fiscal 2018:

Name
  Bonus Award
at Target ($)
  Bonus Award Earned
(as % of Target)
  Bonus Award
Earned ($)
 

Thomas C. Chubb III

  $ 880,000   77.1 % $ 678,480  

Thomas E. Campbell

  $ 212,500     77.1 % $ 163,838  

K. Scott Grassmyer

  $ 212,500   77.1 % $ 163,838  

Michelle M. Kelly

  $ 330,000     59.1 % $ 195,030  

Douglas B. Wood

  $ 445,500   84.4 % $ 376,002  

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        Our compensation committee utilizes stock-based incentive awards under the LTIP to incent our NEOs to remain with our company and further align the interests of our NEOs with those of our shareholders. In March 2018, our compensation committee approved the equity compensation program for fiscal 2018.

        For fiscal 2018, the program included two equity elements:

        Our compensation committee believes that a mix of performance-based and service-based equity awards is in line with market data and furthers the program's incentive and retention objectives. The table below sets forth the awards approved by our compensation committee for each of our NEOs for the fiscal 2018 LTIP program.

 
  Performance-Based Restricted Shares
(# of shares)
   
 
 
  Service-Based
Restricted Shares
(# of shares)
 
Name
  At Threshold   At Target   At Maximum  

Thomas C. Chubb III

  2,450   9,800   19,600   4,200  

Thomas E. Campbell

    875     3,500     7,000     1,500  

K. Scott Grassmyer

  875   3,500   7,000   1,500  

Michelle M. Kelly

    910     3,640     7,280     1,560  

Douglas B. Wood

  910   3,640   7,280   1,560  

        The 2018 earnings per share performance goals established by our compensation committee for the performance-based restricted stock awards were as follows: threshold—$3.78; target—$4.45; and maximum—$5.12. Our actual fiscal 2018 earnings per share, as defined under the program, was $4.45. The earnings per share for our performance-based restricted stock awards utilizes a performance target definition established by the compensation committee at the beginning of fiscal 2018 and, as a result, differs from the adjusted earnings per share that we report in our earnings releases.

        As a result of our performance, 100% of the target performance-based restricted shares for fiscal 2018 were earned. From the actual grant of earned restricted shares in March 2019 through the applicable vesting date, our NEOs receive dividends on these restricted shares and are entitled to voting rights. The fiscal 2018 equity awards would generally be forfeited if the recipient is not continuously employed by us through the applicable vesting date. Accelerated vesting of the award is limited to a "double trigger" scenario (i.e., a change of control of our company and a termination of employment by the individual with good reason or by us or our acquiror without cause). In addition, amounts received or that may be received under the fiscal 2018 equity compensation program in respect of performance-based awards are subject to a clawback provision in the event of certain material restatements of our financial statements.

        Retirement Savings Plan.    During fiscal 2018, we provided retirement benefits to our eligible employees, including our NEOs, under the terms of our tax-qualified retirement savings plan (which we also refer to as our "401(k) plan"). Our 401(k) plan is intended to promote retirement savings by providing employees with an opportunity to save in a tax-efficient manner. During calendar year 2018, we made matching contributions to participants who had achieved a minimum of one year of service under the plan of 100% of the first 5% of the participant's compensation that is deferred.

        Our company contributions under the 401(k) plan are subject to limitations prescribed by the Internal Revenue Code. Our company contributions to the 401(k) plan vest immediately. Our NEOs are permitted to make contributions to the plan solely from pre-tax compensation and participate in our 401(k) plan on the same terms as other "highly compensated employees" (determined under applicable Internal Revenue Service guidelines) of our company. During fiscal 2018, all of our NEOs participated in our 401(k) plan. Company contributions for each NEO during fiscal 2018 under our 401(k) plan are included in the table below under "—Compensation Tables—Summary Compensation Table for Fiscal 2018."

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        Non-Qualified Deferred Compensation Plan.    We offer a Non-Qualified Deferred Compensation Plan, which we refer to as the "Deferred Compensation Plan," to certain highly compensated employees based in the United States, including our NEOs (other than Ms. Kelly, who is an employee of our Lilly Pulitzer operating group, which does not currently participate in our Deferred Compensation Plan). Under the Deferred Compensation Plan, a participant may defer up to 50% of base salary and up to 100% of an annual performance-based cash incentive award. The eligible NEOs participate in the Deferred Compensation Plan on the same terms as our other eligible, participating employees. During fiscal 2018, Messrs. Chubb, Campbell, Grassmyer and Wood participated in the Deferred Compensation Plan.

        All deferral elections are irrevocable except in the case of a hardship. In respect of calendar year 2018, we made a contribution to each participant's account of (1) 4% of the amount that a participant's compensation during the calendar year exceeded the 401(k) compensation limit for the calendar year (which for calendar year 2018 was $275,000), and (2) 4% of any compensation that is excluded from receiving a company match in the 401(k) plan due to participation in the Deferred Compensation Plan, provided in each case that the participant elects under the Deferred Compensation Plan to defer at least 1% of his or her base salary for the year in the Deferred Compensation Plan. Company contributions for each NEO during fiscal 2018 under our Deferred Compensation Plan are included in the table below under "—Compensation Tables—Summary Compensation Table for Fiscal 2018."

        The Deferred Compensation Plan is intended to offer our highly compensated employees, including our eligible NEOs, a tax-efficient method for accumulating retirement savings, as well as to provide an opportunity for our executives to accumulate savings in a tax-efficient manner for significant expenses while continuing in service. The Deferred Compensation Plan constitutes an unfunded, non-qualified deferred compensation plan, and participants' account balances are subject to the claims of our company's creditors. In the event that our company becomes insolvent, participants in the Deferred Compensation Plan would be unsecured general creditors with respect to their account balances, which we believe further aligns the interests of our participating NEOs with the long-term interests of our shareholders.

        Because our Deferred Compensation Plan does not provide above-market, fixed rates of return, earnings under the plan are not included in the table below under "—Compensation Tables—Summary Compensation Table for Fiscal 2018." Earnings and related activity under the Deferred Compensation Plan by our NEOs during fiscal 2018 are described below under "—Compensation Tables—Fiscal 2018 Non-Qualified Deferred Compensation."

        Executive Medical Insurance Plan.    During fiscal 2018, certain of our key employees, including Messrs. Chubb, Campbell and Grassmyer, were eligible to participate in a fully insured executive medical plan that covers medical expenses, including deductibles, as well as dental, vision and similar coverage, not covered under a base medical plan. The plan provides for coverage of up to $100,000 per year with a limit of $10,000 per occurrence. Our executive medical insurance also provides for a $100,000 accidental death and dismemberment benefit that will pay an eligible executive's beneficiary the lump sum amount in the event of death as a result of a covered accident. Our Lilly Pulitzer and Tommy Bahama operating groups do not participate in the executive medical insurance plan; accordingly, Ms. Kelly and Mr. Wood were not eligible to participate in this plan.

        Premiums and administration fees paid by us for each participating NEO during fiscal 2018 under the executive medical insurance plan are included in the table below under "—Compensation Tables—Summary Compensation Table for Fiscal 2018."

        Other Benefits.    In addition to the other compensation policies discussed above, our NEOs are generally eligible to participate in and receive the same health, life insurance and disability benefits, and to participate in certain other benefit plans available to our employees generally, subject to distinctions in our plans that are applicable to employees of our subsidiaries.

        Merchandise Discounts.    From time to time, our NEOs receive discounts on our company's, as well as complimentary meals at our Tommy Bahama restaurants. Certain of these discounts and benefits are offered to other designated employees from time to time. We offer these discounts and benefits because they represent common practice in our industry.

        Subject to the effect of local labor laws, all of our employees are terminable at our discretion. We do not currently have a written employment agreement with any of our NEOs.

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        We maintain a recoupment or "clawback" policy in order to further align the interests of our executive officers with the interests of our shareholders and strengthen the link between total compensation and our performance. Under this policy, we may seek to recover incentive-based cash and equity compensation from any current or former executive officer who received incentive-based compensation during the three-year period preceding the date on which we announce that we are required to restate any previously issued financial statements due to material noncompliance with any financial reporting requirement under federal securities laws.

        Under the policy, the amount to be recovered will be determined by the compensation committee taking into account such considerations as it deems appropriate, including the overpayment relative to the incentive based-compensation that would have been paid to the employee if the financial statements had been as presented in the restatement. Incentive-based compensation is defined broadly to include bonuses, awards or grants of cash or equity under any of our incentive compensation or bonus plans, including but not limited to the LTIP, in each instance where the bonuses, awards or grants are based in whole or in part on the achievement of financial results. The policy gives the compensation committee discretion to interpret and apply the policy.

        Our Board has established stock ownership guidelines for our executive officers, including the NEOs. The ownership guidelines specify a target number of shares of our common stock that our executive officers are expected to accumulate and hold within five years of appointment to the applicable position. Pursuant to these guidelines, each of our executive officers is expected to own or acquire shares of our common stock having a fair market value of a multiple of his or her base salary as follows: Chief Executive Officer—4.0x; President—2.5x; Executive Vice Presidents—2.0x; and All Other Executive Officers—1.5x. Each of our executive officers has satisfied the applicable stock ownership guideline.

        Our Corporate Governance Guidelines also provide for a retention guideline, or holding period, of one year for stock acquired upon the exercise of options or lapse of restrictions on restricted stock (net of funds reasonably expected to be necessary to satisfy applicable taxes and/or pay the exercise price of stock options) that applies to our executive officers, including our NEOs.

        Pursuant to our Corporate Governance Guidelines and our insider trading policy, our directors and executive officers, including our NEOs, are prohibited from hedging the economic risk of ownership of our company's stock, including through the use of puts, calls, equity swaps or other derivative securities or from entering into any pledge arrangements that use our company's stock as collateral for a loan or other purposes.

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Compensation Tables

        The table below shows the compensation for each of our NEOs for the applicable fiscal years:

Name and Principal Position
  Fiscal
Year
  Salary
($)(1)
  Stock
Awards
($)(2)
  Non-Equity
Incentive Plan
Compensation
($)(3)
  All Other
Compensation
($)(1)(4)
  Total
($)(5)
 

Thomas C. Chubb III

  2018   875,192   1,113,420   678,480   156,276   2,823,368  

Chairman, Chief Executive

  2017   851,154   957,600   917,415   112,401   2,838,570  

Officer and President

  2016   825,385   912,600   361,050   126,698   2,225,733  

Thomas E. Campbell

    2018     422,500     397,650     163,838     76,953     1,060,941  

Executive Vice President-People & Technology

    2017     410,154     280,000     221,038     61,830     973,022  

    2016     397,692     277,583     87,000     65,180     827,456  

K. Scott Grassmyer

  2018   422,500   397,650   163,838   76,957   1,060,944  

Executive Vice President-Finance,

  2017   410,154   280,000   221,038   61,831   973,022  

Chief Financial Officer and Controller

  2016   397,692   277,583   87,000   56,175   818,450  

Michelle M. Kelly

    2018     546,923     413,556     195,030     52,683     1,208,192  

Chief Executive Officer, Lilly Pulitzer

    2017     544,615     728,000     125,928     39,530     1,438,074  

    2016     494,615     321,463     409,800     28,905     1,254,784  

Douglas B. Wood

  2018   739,191   413,556   376,002   97,538   1,626,287  

Chief Executive Officer, Tommy Bahama

  2017   744,688   364,000   757,050   57,368   1,923,107  

  2016   700,001   494,325     56,891   1,251,218  

(1)
Compensation for fiscal 2018 may not be directly comparable to compensation paid in respect of fiscal 2017 and fiscal 2016, as amounts paid in respect of "Salary" and "All Other Compensation" represent amounts paid during the 52-week fiscal 2018 period compared to the 53-week fiscal 2017 period. By way of example, the base salary for each of Ms. Kelly and Mr. Wood for fiscal 2017 included 27 bi-weekly pay periods.

(2)
Represent the aggregate grant date fair value of service-based and performance-based equity incentive compensation awards approved in fiscal 2018, fiscal 2017 and fiscal 2016, as applicable, computed in accordance with FASB ASC Topic 718. Awards with performance conditions are computed based on the probable outcome of the target performance conditions as of the grant date for the award. Information about the assumptions used to value these awards can be found under the captions "Equity Compensation" and "Long-Term Stock Incentive Plan" in Notes 1 and 7, respectively, in our Fiscal 2018 Annual Report on Form 10-K and as described above under "—Compensation Discussion and Analysis—Long-Term Equity Incentive Compensation."

With respect to the value of performance-based restricted share awards included for fiscal 2018, the following sets forth the grant date fair value that was included in the table above (as also set forth below under "—Grants of Plan-Based Awards in Fiscal 2018") and the corresponding grant date fair value of these awards assuming the maximum level of performance conditions was met:

Name
  Fair Value included
in Summary
Compensation Table ($)
  Fair Value
Assuming Maximum
Performance ($)
 

Thomas C. Chubb III

  779,394   1,558,788  

Thomas E. Campbell

    278,355     556,710  

K. Scott Grassmyer

  278,355   556,710  

Michelle M. Kelly

    289,489     578,978  

Douglas B. Wood

  289,489   578,978  
(3)
Amounts reported under "Non-Equity Incentive Plan Compensation" reflect cash incentive awards earned by each of our NEOs in respect of company and/or operating group performance during the applicable fiscal year, as described above under "—Compensation Discussion and Analysis—Short-Term Incentive Compensation."

(4)
Amounts reported under "All Other Compensation" for fiscal 2018 reflect the following amounts:
Name
  Executive
Health
Insurance ($)
  Company Contributions
to Defined
Contribution Plans ($)
  Company Contributions
to Non-Qualified
Deferred
Compensation Plan ($)
  Dividends
on Unvested
Stock Awards ($)
 

Thomas C. Chubb III

  33,730   14,489   62,273   45,784  

Thomas E. Campbell

    33,730     14,110     15,207     13,907  

K. Scott Grassmyer

  33,730   14,113   15,207   13,907  

Michelle M. Kelly

        14,477         38,206  

Douglas B. Wood

    14,553   49,985   33,000  

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        In addition, our NEOs, from time to time, may receive discounts on merchandise purchased directly from our company or complimentary meals at our Tommy Bahama restaurants. We do not believe that the aggregate incremental cost to us of these discounts and benefits exceeds $10,000 for any of our NEOs and are excluded from this table.

(5)
Totals may not add due to rounding.

        The following table presents information for fiscal 2018 regarding equity awards granted under our LTIP and possible cash awards that could have been earned for fiscal 2018 performance, as described above under "—Compensation Discussion and Analysis—Short-Term Incentive Compensation."

 
   
   
   
   
   
   
   
  All other
stock
awards:
Number of
shares of
stock (#)(3)
   
 
 
   
  Estimated Future Payouts Under
Non-Equity Incentive Plan Awards(1)
  Estimated Future Payouts Under
Equity Incentive Plan Awards(2)
  Grant Date
Fair Value
of Stock
Awards
($)(4)
 
 
  Grant
Date
 
Name
  Threshold ($)   Target ($)   Maximum ($)   Threshold (#)   Target (#)   Maximum (#)  

Thomas C. Chubb III

    220,000   880,000   1,540,000            

  3/19/18         2,450   9,800   19,600     779,394  

  3/19/18               4,200   334,026  

Thomas E. Campbell

          53,125     212,500     371,875                                

    3/19/18                       875     3,500     7,000           278,355  

    3/19/18                                         1,500     119,295  

K. Scott Grassmyer

    53,125   212,500   371,875            

  3/19/18         875   3,500   7,000     278,355  

  3/19/18               1,500   119,295  

Michelle M. Kelly

          82,500     330,000     577,500                                

    3/19/18                       910     3,640     7,280           289,489  

    3/19/18                                         1,560     124,067  

Douglas B. Wood

    111,375   445,500   779,625            

  3/19/18         910   3,640   7,280     289,489  

  3/19/18               1,560   124,067  

(1)
Reflects potential cash incentive awards in respect of company and/or operating group performance during fiscal 2018 under our short-term cash incentive program, which is described above under "—Compensation Discussion and Analysis—Short-Term Incentive Compensation."

(2)
Reflects potential restricted stock awards in respect of our performance during fiscal 2018 under the LTIP, which is described above under "—Compensation Discussion and Analysis—Long-Term Equity Incentive Compensation."

(3)
Reflects service-based restricted shares granted under the LTIP. All of the awards cliff vest on April 9, 2021. These stock awards are described above under "—Compensation Discussion and Analysis—Long-Term Equity Incentive Compensation."

(4)
The values for stock awards in this column are computed in accordance with FASB ASC Topic 718. For awards with performance conditions, the grant date fair value assumes achievement at target performance.

        The following table provides information with respect to unvested equity awards held by our NEOs as of February 2, 2019. Our NEOs did not hold any unexercised stock options at the end of fiscal 2018.

 
  Stock Awards  
Name
  Number of Shares or
Units of Stock
That Have Not Vested (#)(1)
  Market Value of Shares
or Units of Stock
That Have Not Vested ($)(2)
 

Thomas C. Chubb III

  43,465   3,357,671  

Thomas E. Campbell

    13,726     1,060,334  

K. Scott Grassmyer

  13,726   1,060,334  

Michelle M. Kelly

    31,733     2,451,374  

Douglas B. Wood

  27,905   2,155,661  

(1)
The unvested equity awards held by our NEOs at the end of fiscal 2018 consist of various service-based restricted shares; performance-based restricted shares (which are subject to additional service requirements prior to vesting); and special, limited service-based restricted shares granted to Mr. Wood and Ms. Kelly, as follows:

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Thomas C. Chubb III  

3,600 service-based restricted shares granted in March 2016 that vested on April 15, 2019

5,712 performance-based restricted shares granted in March 2017 in respect of actual fiscal 2016 performance that vested on April 15, 2019

5,130 service-based restricted shares granted in March 2017 that vest on April 9, 2020

15,023 performance-based restricted shares granted in March 2018 in respect of actual fiscal 2017 performance that vest on April 9, 2020

4,200 service-based restricted shares granted in March 2018 that vest on April 9, 2021

9,800 performance-based restricted shares granted following the conclusion of the end of fiscal 2018 in respect of actual fiscal 2018 performance that vest on April 9, 2021

Thomas E. Campbell

 

1,095 service-based restricted shares granted in March 2016 that vested on April 15, 2019

1,738 performance-based restricted shares granted in March 2017 in respect of actual fiscal 2016 performance that vested on April 15, 2019

1,500 service-based restricted shares granted in March 2017 that vest on April 9, 2020

4,393 performance-based restricted shares granted in March 2018 in respect of actual fiscal 2017 performance that vest on April 9, 2020

1,500 service-based restricted shares granted in March 2018 that vest on April 9, 2021

3,500 performance-based restricted shares granted following the conclusion of the end of fiscal 2018 in respect of actual fiscal 2018 performance that vest on April 9, 2021

K. Scott Grassmyer

 

1,095 service-based restricted shares granted in March 2016 that vested on April 15, 2019

1,738 performance-based restricted shares granted in March 2017 in respect of actual fiscal 2016 performance that vested on April 15, 2019

1,500 service-based restricted shares granted in March 2017 that vest on April 9, 2020

4,393 performance-based restricted shares granted in March 2018 in respect of actual fiscal 2017 performance that vest on April 9, 2020

1,500 service-based restricted shares granted in March 2018 that vest on April 9, 2021

3,500 performance-based restricted shares granted following the conclusion of the end of fiscal 2018 in respect of actual fiscal 2018 performance that vest on April 9, 2021

Michelle M. Kelly

 

9,091 service-based restricted shares granted in March 2015 in connection with Ms. Kelly's promotion to President, Lilly Pulitzer that vested on April 15, 2019

1,268 service-based restricted shares granted in March 2016 that vested on April 15, 2019

2,013 performance-based restricted shares granted in March 2017 in respect of actual fiscal 2016 performance that vested on April 15, 2019

1,950 service-based restricted shares granted in March 2017 that vest on April 9, 2020

6,500 service-based restricted shares granted in March 2017 that vest on April 9, 2021

5,711 performance-based restricted shares granted in March 2018 in respect of actual fiscal 2017 performance that vest on April 9, 2020

1,560 service-based restricted shares granted in March 2018 that vest on April 9, 2021

3,640 performance-based restricted shares granted following the conclusion of the end of fiscal 2018 in respect of actual fiscal 2018 performance that vest on April 9, 2021

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Douglas B. Wood

 

10,000 service-based restricted shares granted in January 2016 in connection with Mr. Wood's promotion to Chief Executive Officer, Tommy Bahama that vest on January 31, 2020

1,950 service-based restricted shares granted in March 2016 that vested on April 15, 2019

3,094 performance-based restricted shares granted in March 2017 in respect of actual fiscal 2016 performance that vested on April 15, 2019

1,950 service-based restricted shares granted in March 2017 that vest on April 9, 2020

5,711 performance-based restricted shares granted in March 2018 in respect of actual fiscal 2017 performance that vest on April 9, 2020

1,560 service-based restricted shares granted in March 2018 that vest on April 9, 2021

3,640 performance-based restricted shares granted following the conclusion of the end of fiscal 2018 in respect of actual fiscal 2018 performance that vest on April 9, 2021

(2)
The market value of stock awards reported is computed by multiplying the number of shares of stock that have not vested by $77.25, the per-share closing price of our common stock on February 1, 2019.

        The following table provides information concerning the vesting of restricted stock for each of our NEOs during fiscal 2018. The table reports the number of shares of stock that vested and the aggregate dollar value realized upon vesting of stock.

 
  Stock Awards  
Name
  Number of Shares
Acquired on Vesting (#)(1)
  Value
Realized on Vesting ($)(1)
 

Thomas C. Chubb III

  10,774   838,864  

Thomas E. Campbell

    3,800     295,868  

K. Scott Grassmyer

  3,800   295,868  

Michelle M. Kelly

    4,400     342,584  

Douglas B. Wood

  5,673   441,700  

(1)
Reflects the vesting of performance-based restricted shares granted in March 2016 in respect of our fiscal 2015 performance. The dollar amount is determined by multiplying (x) the number of shares of our common stock vested by (y) the per-share closing price of our common stock on the vesting date, April 16, 2018.

        There were no stock options exercised by any of our NEOs during fiscal 2018.

        The following table shows the activity under our Deferred Compensation Plan for each of our participating NEOs during fiscal 2018.

Name
  Executive
Contributions in
Last FY ($)(1)
  Registrant
Contributions in
Last FY ($)(2)
  Aggregate
Earnings
in Last FY
($)
  Aggregate
Withdrawals/
Distributions
($)(3)
  Aggregate
Balance
at Last FYE
($)(4)(5)
 

Thomas C. Chubb III

  18,327   62,273   14,222     540,232  

Thomas E. Campbell

    30,806     15,207     (22,714 )   (50,167 )   818,213  

K. Scott Grassmyer

  26,455   15,207   4,109     481,957  

Douglas B. Wood

    123,078     49,985     (94,280 )       2,577,278  

(1)
The amounts reported in this column are also included in the "Salary" column or the "Non-Equity Incentive Plan Compensation" column for fiscal 2018 in the Summary Compensation Table above.

(2)
The amounts reported in this column are also included in the "All Other Compensation" column for fiscal 2018 in the Summary Compensation Table above.

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(3)
Represent in-service distributions received in accordance with the terms of our Deferred Compensation Plan.

(4)
Reflects balances as of February 2, 2019.

(5)
The amounts reported in this column include amounts that are also reported as salary, non-equity incentive plan awards or all other compensation in the Summary Compensation Table above in fiscal 2018 and in prior years as follows:
Name
  Amount Included in Both
Non-Qualified Deferred
Compensation Table and
Summary Compensation Table
($)
  Amount Included in Both
Non-Qualified Deferred
Compensation Table and
Previously Reported in Prior
Years' Summary Compensation
Table
($)
  Total Amounts
Included in Both
Non-Qualified Deferred
Compensation Table and Current
Year or Prior Years' Summary
Compensation Table
($)
 

Thomas C. Chubb III

  80,600   503,901   584,501  

Thomas E. Campbell

    46,013     390,911     436,924  

K. Scott Grassmyer

  41,662   206,929   248,591  

Douglas B. Wood

    173,063     276,279     449,342  

        Under the Deferred Compensation Plan, participants may elect to have contributions during a given calendar year distributed as either:

        Distribution of account balances in a single sum is automatically made on termination for reasons other than a deemed retirement. Participants elect to invest their account balances among a variety of investment options in an array of asset classes, and earnings are based on the equivalent returns from the elected investment options. Accounts are 100% vested at all times.

Potential Payments on Termination or Change of Control

        All of our NEOs' outstanding equity awards provide for "double trigger" vesting, meaning that the awards require a change of control of our company and a termination of the individual's employment either by the individual for good reason or us or our acquiror without cause (which we refer to as a "change of control termination") to accelerate vesting.

        The following table summarizes the value of the shares of our common stock that would be realized by each NEO if a change of control termination had occurred on February 2, 2019:

Name
  Equity Awards That
Would Vest upon
a Change of Control
Termination (#)(1)(2)
  Value Realized on
Vesting Following
a Change of Control
Termination ($)(3)
 

Thomas C. Chubb III

  43,465   3,357,671  

Thomas E. Campbell

    13,726     1,060,334  

K. Scott Grassmyer

  13,726   1,060,334  

Michelle M. Kelly

    31,733     2,451,374  

Douglas B. Wood

  27,905   2,155,661  

(1)
For details on the outstanding equity awards that would vest upon a change of control termination, see Footnote 1 under "—Compensation Tables—Outstanding Equity Awards at Fiscal 2018 Year-End."

(2)
Pursuant to the terms of the fiscal 2018 program, if a change of control termination takes place where the change of control occurs prior to the end of fiscal 2018, the individual recipients would be entitled to receive the greater of (a) the number of shares of our common stock attributable to the recipient's target number of restricted shares pursuant to the program or (b) the actual number of restricted shares certified by our NC&G Committee as having been earned. As the number of restricted shares actually earned under the program is known at this time, the table includes the actual number of restricted shares certified by our NC&G Committee as having been earned.

(3)
The value is computed by multiplying the number of shares that would vest by $77.25, the per-share closing market price of our common stock on February 1, 2019.

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        We did not have any other arrangement, policy or plan that would provide payments or benefits to any of our NEOs as a result of a termination of any kind, including following a change of control, other than benefits payable to salaried employees of our company on a non-discriminatory basis.

CEO Pay Ratio

        As a result of the rules under the Dodd-Frank Act, the SEC requires that we provide disclosure of the ratio of our Chief Executive Officer's annual total compensation to that of an identified median-paid employee. We identified the median paid employee by examining the 2017 total cash compensation for all individuals, excluding our CEO, who were employed by us on December 31, 2017. To identify our median-paid employee, we excluded approximately 4% of our workforce located in foreign jurisdictions under the de minimis exception to the pay ratio rule; for all of the employees based in foreign jurisdictions who were included in our determination of the median-paid employee, we applied a foreign currency to U.S. dollar exchange rate based on the average daily rate during the 12 months ended December 31, 2017; we excluded 36 individuals who became our employees in December 2017 as a result of our acquisition of The Beaufort Bonnet Company; we elected not to annualize the compensation paid to employees who were not employed for all of 2017 (e.g., new hires); we included full-time, part-time, temporary and seasonal employees for purposes of determining the median-paid employee; and we used gross earnings (or foreign equivalent amounts), meaning total amounts paid before deductions or adjustments, including wages, overtime, bonuses and the value of any equity awards that vested during the 2017 calendar year, in determining the total compensation paid to our employees for purposes of identifying the median-paid employee.

        The median-paid employee identified based on our 2017 analysis was not an employee at the end of fiscal 2018. We used the information from our 2017 analysis in order to select a new median-paid employee with substantially similar compensation. There were no significant changes in our employee population or compensation that would result in a significant change to our pay ratio disclosure.

        Using this methodology, we determined that the median-paid employee was a non-exempt employee located in the U.S. with an annual total compensation of $20,213 for fiscal 2018, calculated in accordance with the requirements of Item 402(c)(2)(x) of Regulation S-K. The annual total compensation for fiscal 2018 for our Chief Executive Officer was $2,823,368, as discussed above under "—Compensation Tables—Summary Compensation Table for Fiscal 2018." Based on this information, for fiscal 2018, the ratio of the annual total compensation of our Chief Executive Officer to the annual total compensation of our median-paid employee was 140 to 1. We believe the pay ratio disclosure presented in this section is a reasonable estimate. Because the SEC's rules for identifying the median-paid employee and calculating the pay ratio allow companies to use different methodologies, assumptions, adjustments and estimates, our pay ratio disclosure may not be comparable to the pay ratio reported by other companies.


NOMINATING, COMPENSATION & GOVERNANCE COMMITTEE REPORT

        The Nominating, Compensation & Governance Committee has reviewed and discussed with management the Company's Compensation Discussion and Analysis required by Item 402(b) of Regulation S-K. Based on such review and discussions, the Nominating, Compensation & Governance Committee recommended to the Board of Directors that the Compensation Discussion and Analysis be included in this proxy statement and incorporated by reference into the Company's Fiscal 2018 Annual Report on Form 10-K.

Respectfully submitted,

Clarence H. Smith, Chairman
Helen Ballard
Virginia A. Hepner
E. Jenner Wood III


COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION

        Helen Ballard, Virginia A. Hepner, Clarence H. Smith, and E. Jenner Wood III served on our NC&G Committee during fiscal 2018. None of them are current officers or employees of our company or any of our subsidiaries; none of them are former officers of our company or any of our subsidiaries; and none of them had any relationship during fiscal 2018 requiring disclosure under any paragraph of Item 404 of Regulation S-K. In fiscal 2018, none of our executive officers served on the board of directors or compensation committee of any entity that had one or more of its executive officers serving on our Board or our compensation committee.

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CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

        Our Board or Executive Committee reviews all transactions that are disclosable under Item 404(a) of Regulation S-K. To help identify these related party transactions, our Legal Department maintains a list of companies and other persons with whom each director and executive officer has a potentially disclosable relationship and each director and executive officer annually completes a questionnaire that requires the disclosure of any transaction or relationship that the individual, or any member of his or her immediate family, has or will have with our company. Our Legal Department, with the assistance of other members of senior management, also reviews contemplated transactions to consider whether one of our directors or executive officers (or an affiliated entity) proposes to engage in a transaction that our Board should review. Our Board or Executive Committee will only approve related party transactions that are in, or not inconsistent with, the best interests of our company and our shareholders. In determining whether to approve or reject a related party transaction, our Board considers such information as it deems important to determine whether the transaction is on reasonable and competitive terms and is fair to our company.

        During fiscal 2018, there were no related party transactions requiring disclosure in this proxy statement.


AUDIT-RELATED MATTERS

Report of the Audit Committee

        The Audit Committee, which operates under a written charter adopted by the Board of Directors of Oxford Industries, Inc., is composed entirely of independent directors and, among other things, oversees, on behalf of the Board of Directors, the Company's financial reporting process and system of internal control over financial reporting. Pursuant to the Audit Committee's charter, the committee is also charged with reviewing the Company's guidelines and policies with respect to risk assessment and risk management, including cybersecurity risks. The Audit Committee's charter is posted under the "Corporate Governance" link under the "Investor Relations" tab on our website at www.oxfordinc.com. The Audit Committee held four meetings during the Company's 2018 fiscal year.

        The Company's management is responsible for its financial reporting process, including its system of internal control over financial reporting, and for the preparation of consolidated financial statements in accordance with accounting standards generally accepted in the United States. The Company's independent registered public accounting firm, Ernst & Young LLP, is responsible for auditing the Company's consolidated financial statements and providing an opinion as to their conformity with accounting standards generally accepted in the United States, as well as attesting and reporting on the effectiveness of the Company's internal control over financial reporting. The Audit Committee's responsibility is to oversee these processes, as well as to appoint, retain, compensate, evaluate and, when necessary, terminate the Company's independent registered public accounting firm. It is not the Audit Committee's duty or responsibility to conduct auditing or accounting reviews or procedures. Consequently, in carrying out its oversight responsibilities, the Audit Committee shall not be charged with, and is not providing, any expert or special assurance as to the Company's financial statements, or any professional certification as to Ernst & Young's work.

        In fulfilling its responsibilities, the Audit Committee has:

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Respectfully Submitted,

Dennis M. Love, Chairman
Thomas C. Gallagher
John R. Holder
Stephen S. Lanier
Clyde C. Tuggle

Fees Paid to Independent Registered Public Accounting Firm

        The following table summarizes certain fees that we paid in respect of each of fiscal 2018 and fiscal 2017 to Ernst & Young LLP, our independent registered public accounting firm, for professional services:

Fee Category
  Fiscal 2018 ($)   Fiscal 2017 ($)   Description

Audit fees

  1,933,548   1,708,316   Fees for the audit of our consolidated financial statements and internal control over financial reporting, including additional testing relating to acquired businesses; reviews of our consolidated quarterly financial statements included in Forms 10-Q filed with the SEC; statutory audits of subsidiaries; services related to assistance with implementation of new accounting rules and regulations, including those associated with the recently adopted revenue recognition and lease accounting standards and financial statement impact of U.S. Tax Cuts and Jobs Act as enacted on December 22, 2017; and services provided in connection with statutory and regulatory filings

Audit-related fees

    2,000     1,985   Fees for audit-related services such as compliance with rules and regulations applicable to accounting matters

Tax fees

  69,053   71,846   Fees for tax compliance, planning and advisory services

All other fees

         

Total fees

  2,004,601   1,782,147  

Approval of Audit and Permissible Non-Audit Services of Independent Auditors

        Our Audit Committee has adopted a policy for the pre-approval of services provided by our independent registered public accounting firm. Unless a service to be provided by our independent registered public accounting firm has received general pre-approval under the policy, it requires specific pre-approval by our Audit Committee or the chair of our Audit Committee before the commencement of the service. The pre-approval policy is detailed as to the particular services to be provided, and our Audit Committee is to be informed about each service provided.

        Specific pre-approval is required for significant recurring annual engagements, such as engagements for the required annual audit and quarterly reviews (including the audit of internal control over financial reporting) and statutory or employee benefit plan audits. Any individual engagement with an estimated cost of more than $75,000 must be specifically pre-approved before the commencement of the engagement, even if the service in question has received general pre-approval. In addition, further Audit Committee pre-approval is required if the aggregate fees for such engagements would exceed $200,000. At each Audit Committee meeting, the entire Audit Committee reviews services performed since the prior meeting pursuant to the general pre-approvals granted under the policy, as well as services, if any, pre-approved by the chair of our Audit Committee.

        The nature and dollar value of services performed under the general pre-approval guidelines are reviewed with our Audit Committee on at least an annual basis. All of the fees detailed above paid to Ernst & Young LLP for fiscal 2018 and fiscal 2017 were specifically pre-approved by our Audit Committee.

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COMMON STOCK OWNERSHIP BY MANAGEMENT
AND CERTAIN BENEFICIAL OWNERS

Management

        The table below sets forth certain information as of April 18, 2019 regarding the beneficial ownership of shares of our common stock by our directors, our NEOs and our directors and executive officers as a group. Except as set forth below, the shareholders named below have sole voting and investment power with respect to all shares of our common stock shown as being beneficially owned by them. The address for each individual in this table is c/o Oxford Industries, Inc., 999 Peachtree Street, N.E., Suite 688, Atlanta, Georgia 30309.

 
  Beneficial Ownership of
Common Stock
 
Name
  Number of
Shares(1)
  Percent of
Class(1)
 

Helen Ballard

  10,525   *  

Thomas E. Campbell

    38,587     *  

Thomas C. Chubb III

  119,893   *  

Thomas C. Gallagher

    12,310     *  

K. Scott Grassmyer

  33,511   *  

Virginia A. Hepner

    3,942     *  

John R. Holder

  21,134   *  

Michelle M. Kelly

    35,096     *  

Stephen S. Lanier(2)

  136,835   *  

Dennis M. Love

    18,538     *  

Clarence H. Smith

  14,857   *  

Clyde C. Tuggle

    7,034     *  

Douglas B. Wood

  39,948   *  

E. Jenner Wood III

    15,457     *  

All directors and executive officers as a group (16 persons)

  526,694   3.1  

*
Less than 1%

(1)
Calculations based on an aggregate of 17,020,641 shares of our common stock outstanding as of the close of business on April 18, 2019. The number of shares and percentage of the class beneficially owned includes unvested restricted shares for which the individual has voting rights as of the close of business on April 18, 2019.

(2)
Consists of 72,489 shares held individually by Mr. Lanier, 29,187 shares held in trusts of which Mr. Lanier is the primary beneficiary, 34,299 shares held in custodial accounts for the benefit of Mr. Lanier's children and 860 shares held by Mr. Lanier's wife.

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Certain Beneficial Owners

        The table below sets forth certain information regarding the beneficial ownership of shares of our common stock by persons we believe beneficially hold more than 5% of our common stock based solely on a review of SEC filings made in respect of ownership.

 
  Beneficial Ownership of
Common Stock
 
Name and Address
  Number of
Shares(1)
  Percent of
Class(1)
 

BlackRock, Inc.
55 East 52nd Street
New York, NY 10055                                                                                 



 
2,460,403 (2) 14.5  

The Vanguard Group
100 Vanguard Blvd.
Malvern, PA 19355

    1,695,679 (3)   10.0  

(1)
Calculations based on an aggregate of 17,020,641 shares of our common stock outstanding as of the close of business on April 18, 2019.

(2)
The shares reported are held by BlackRock, Inc. in its capacity as a parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G) of the Exchange Act as of December 31, 2018. As reported by BlackRock, various persons have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the reported shares. BlackRock reported sole voting power over 2,397,753 of the reported shares and sole dispositive power over all of the reported shares. This information was obtained from a Schedule 13G/A filed on January 31, 2019.

(3)
The shares reported are held by The Vanguard Group in its capacity as an investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E) of the Exchange Act as of January 31, 2019. Vanguard reported sole voting power over 34,709 of the reported shares, shared voting power over 2,600 of the reported shares, sole dispositive power over 1,659,870 of the reported shares and shared dispositive power over 35,809 of the reported shares. This information was obtained from a Schedule 13G/A filed on February 11, 2019.

        Under the SEC's rules, a person may be deemed to beneficially own securities in which he or she has no pecuniary interest. The information set forth in the tables above shall not be construed as an admission that any such person is, for purposes of Section 13(d) or 13(g) of the Exchange Act or otherwise, the beneficial owner of any securities disclosed above.

Section 16(a) Beneficial Ownership Reporting Compliance

        Section 16(a) of the Exchange Act requires that our officers and directors, and persons who beneficially own more than 10% of our common stock, file with the SEC certain reports, and to furnish copies thereof to us, with respect to each such person's beneficial ownership and changes in ownership of our equity securities. Due to the complexity of the SEC's reporting rules, our Legal Department undertakes to file such reports on behalf of our directors and executive officers and has instituted procedures to assist them with these obligations. Based on a review of our company's records and other information, we believe that all reports required by our directors and executive officers were filed on a timely basis in respect of fiscal 2018, except that a Form 5 reporting gifts in December 2018 totaling 1,230 shares of our common stock was filed by Mr. Lanier more than 45 days after the conclusion of the fiscal year.

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EQUITY COMPENSATION PLAN INFORMATION

        The following table sets forth information concerning our equity compensation plans as of February 2, 2019:

Plan Category
  Number of Securities
Remaining Available for
Future Issuance Under
Equity Compensation Plans(1)
 

Equity compensation plans approved by security holders

     

Employee Stock Purchase Plan(2)

    393,702  

Long-Term Stock Incentive Plan

  780,989  

Equity compensation plans not approved by security holders

     

Total

  1,174,691  

(1)
As of February 2, 2019, we had no outstanding options, warrants or other rights with respect to shares of our common stock. Accordingly, information relating to the number and exercise price of outstanding options, warrants and rights is not included in this table.

(2)
The number of securities to be issued under our Employee Stock Purchase Plan is not determinable as of any date other than the last day of the applicable quarterly purchase period since the weighted average purchase price under the plan is not determinable as of any date other than the last day of the applicable quarterly purchase period.


INFORMATION ABOUT THE MEETING AND VOTING

Shares Outstanding

        You may vote at our 2019 annual meeting if you owned shares of our common stock as of the close of business on April 18, 2019, the record date for the annual meeting. As of April 18, 2019, there were 17,020,641 shares of our common stock issued and outstanding. You are entitled to one vote for each share of our common stock that you owned on the record date.

Voting

        If your shares of Oxford common stock are registered directly in your name with Computershare, our transfer agent, then you are a shareholder of record. As a shareholder of record, you may vote using one of the following methods:

        If you are a shareholder of record and you sign and return your proxy card but do not include voting instructions, your proxy will be voted as recommended by our Board or, if no recommendation is given, in the discretion of the proxies designated on the proxy card, to the extent permitted under applicable law.

        However, if you are a shareholder of record, your shares will not be voted unless you submit a proxy (which can be accomplished by voting on the Internet, by telephone or by signing and returning a proxy card, as noted above) or attend the annual meeting and vote in person.

        If, like most of our shareholders, your shares of Oxford common stock are held in an account with a broker, you are the beneficial owner of shares held in "street name" and these proxy materials are being forwarded to you by that organization. The broker holding your account is considered the shareholder of record for purposes of voting at the annual meeting. As a beneficial owner, you may direct your broker on how to vote the shares in your account. Telephone and/or Internet voting may be available to direct your broker on how to vote the shares in your account, but the availability of telephone and/or Internet voting will depend on the voting processes of that firm. Please follow the directions on your proxy card or voting instruction form carefully. Even if your shares are held in an account with a broker, you are invited to attend the annual meeting. However, since you are not the shareholder of record, you may not vote your shares in person at the meeting unless you obtain a valid proxy card from your broker and, in order to gain admission to the meeting, you should bring the notice or voting instruction form you received or obtain a valid proxy card from your broker.

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Broker Discretionary Voting; Broker Non-Votes

        If you hold shares through an account with a broker, your shares may be voted by the broker even if you do not provide voting instructions. Brokerage firms have the authority, under the rules of the New York Stock Exchange (which we refer to as the "NYSE"), to vote shares in their discretion on certain "routine" matters when their customers do not provide voting instructions. Under the NYSE's rules, only Proposal No. 2 (ratification of Ernst & Young LLP to serve as our independent registered public accounting firm for fiscal 2019) is considered a routine matter.

        The other proposals to be addressed at the annual meeting are considered "non-routine" matters under the NYSE's rules. When a brokerage firm has not received voting instructions from the beneficial holder of the shares with respect to a non-routine matter, the brokerage firm cannot vote the shares on that proposal. This is called a "broker non-vote." Broker non-votes will be counted as present at the annual meeting for quorum purposes but will not be counted as entitled to vote on the non-routine matter. Therefore, if your shares are held in an account with a broker, it is important that you provide voting instructions to your broker so that your vote on these proposals is counted.

Changing Your Vote

        If your shares are held in an account with a broker, then you must follow the instructions provided by that firm in order to revoke or change your vote with respect to shares held in street name.

        However, if you are a shareholder of record, you may revoke or change your vote with respect to the shares of our common stock that are registered directly in your name by doing any of the following:

voting in person at the annual meeting (your attendance at the annual meeting, in and of itself, will not revoke the earlier proxy).

Quorum

        In order for us to conduct the annual meeting, the holders of a majority of the shares of our common stock issued and outstanding as of the record date must be present, in person or by proxy, at the annual meeting. This is referred to as a quorum. Abstentions and broker non-votes, if any, will be counted as shares present at the meeting for purposes of determining the presence of a quorum.


ADDITIONAL INFORMATION

Annual Report on Form 10-K

        Our 2018 Annual Report on Form 10-K may be accessed through the date of the annual meeting by all shareholders under the "Investor Relations" tab of our website at www.oxfordinc.com. We will also provide without charge, at the written request of any shareholder of record as of April 18, 2019, a hard copy of our 2018 Annual Report on Form 10-K, including the audited financial statements, as filed with the SEC, excluding exhibits. We will provide copies of the exhibits if they are requested by eligible shareholders. We may impose a reasonable fee for providing the exhibits. Requests for copies of our Annual Report on Form 10-K should be mailed to our company's headquarters at Oxford Industries, Inc., 999 Peachtree Street, N.E., Suite 688, Atlanta, Georgia 30309, Attention: Investor Relations.

Board's Role in Risk Oversight

        Our Board is ultimately charged with overseeing our business, including risks to our business, on behalf of our shareholders. In order to fulfill this responsibility, our Audit Committee, pursuant to its charter, reviews our policies with respect to our company's risk assessment and risk management. With our Audit Committee's oversight, we conduct an enterprise risk management, or "ERM," program on an ongoing basis. At each quarterly meeting of our Audit Committee, a

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significant portion of time is devoted to a management report to the committee on the status of the ERM program and/or certain risks, including among other things cybersecurity and data privacy, faced by our company.

        Our Audit Committee actively engages management on potential strategies for reducing, eliminating or mitigating the risks to our organization. Our Audit Committee regularly reports to our Board on our ERM program, and our management at least annually provides our Board with a full report on our ERM program. In addition to our ERM program, our Board examines specific business risks in its regular reviews of our operating groups and also on a company-wide basis as part of its regular strategic reviews.

        As part of its oversight of our overall compensation program, our NC&G Committee considers our compensation policies and procedures, including the incentives that they create and factors that may influence excessive risk taking. In particular, our compensation program provides for short-term cash incentive payments to individuals throughout our company based on satisfaction of pre-established performance targets. For employees within our various operating groups, these performance targets may be based on performance by the operating group, as a whole, or a specific business unit or business location within that operating group. Each cash incentive award for an individual employee within our organization is subject to a maximum amount payable to the individual. Our senior management and, with respect to our executive officers, our NC&G Committee, approve applicable performance targets taking into consideration our detailed, internal budgets for upcoming fiscal periods. These members of senior management have access to daily retail and ecommerce sales data and receive monthly financial reports, and they review and analyze deviations from the budgeted plans to assess whether, among other things, the deviations were the result of inappropriate risk taking. Our NC&G Committee has concluded that our compensation policies and procedures are not reasonably likely to have a material adverse effect on our company.

Submission of Director Candidates by Shareholders

        Pursuant to our bylaws, to be timely, a director nomination by a shareholder must generally be delivered to our Secretary not less than 90 days nor more than 120 days prior to the first anniversary of the date of the preceding year's annual meeting; however, if the annual meeting of shareholders is advanced more than 30 days prior to or delayed more than 30 days after the first anniversary of the preceding year's annual meeting, a director nomination submitted by a shareholder to be timely must be delivered not later than the close of business on the later of (1) the 90th day prior to the annual meeting or (2) the 10th day following the date on which public announcement of the date of such annual meeting is first made. Any recommendation received by our Secretary will be promptly forwarded to the chair of our NC&G Committee for consideration. In order for a shareholder to nominate a director candidate for consideration at our 2020 annual meeting, we must receive notice of such nomination between February 19, 2020 and March 20, 2020 (inclusive) unless the date of our 2020 annual meeting is advanced more than 30 days prior to or delayed more than 30 days after June 18, 2020. Any such nominations must comply with the other requirements for proper nominations pursuant to our bylaws.

        Our bylaws set out the specific requirements that a shareholder must satisfy in order to properly nominate a director candidate. Any shareholder filing a written notice of nomination for a director must describe various matters regarding the nominee and the shareholder, including, among other things, name; address; occupation; shares, rights to acquire shares and other derivative securities held; and any relevant understandings or arrangements between the shareholder and affiliated parties, if any. A copy of the requirements for nominating a director candidate is available in print to any shareholder who so requests it. Requests for a copy of these requirements should be mailed to our company's headquarters at Oxford Industries, Inc., 999 Peachtree Street, N.E., Suite 688, Atlanta, GA 30309, Attention: Investor Relations.

        In addition to candidates submitted by shareholders, our NC&G Committee will also consider candidates recommended by directors, management, third party search firms and other credible sources. Candidates recommended by any of these sources will be equally evaluated and considered. Our NC&G Committee will compile a complete list of candidates recommended by any credible source and evaluate each candidate. Each candidate will be evaluated in the context of the current composition of our Board, the current needs of our Board and the long-term interests of our shareholders. In making its evaluation of possible director candidates, our NC&G Committee will consider, among other things, issues such as a candidate's independence, expertise, age, diversity, general business knowledge and experience, financial literacy, availability and commitment. After evaluating each candidate, our NC&G Committee will determine which candidates it will recommend to the full Board.

Shareholder Proposals

        Pursuant to our bylaws, in order for a shareholder proposal (other than a proposal submitted pursuant to Rule 14a-8 or director nomination) to be considered at an annual meeting, the proposal must be delivered to our Secretary not less than

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90 days nor more than 120 days prior to the first anniversary of the date of the preceding year's annual meeting; however, if the annual meeting of shareholders is advanced more than 30 days prior to or delayed more than 30 days after the first anniversary of the preceding year's annual meeting, in order to be timely, a shareholder proposal must be delivered not later than the close of business on the later of (1) the 90th day prior to the annual meeting or (2) the 10th day following the date on which public announcement of the date of such annual meeting is first made. Accordingly, in order for a shareholder proposal (other than a director nomination) to be considered at our 2020 annual meeting, we must receive the proposal between February 19, 2020 and March 20, 2020 (inclusive) unless the date of our 2020 annual meeting is advanced more than 30 days prior to or delayed more than 30 days after June 18, 2020.

        Our bylaws set out the specific requirements that a shareholder must satisfy in order to properly make a proposal for consideration by our shareholders at an annual meeting. Any shareholder submitting a proposal must describe various matters regarding the shareholder, including, among other things, name; address; occupation; shares, rights to acquire shares and other derivative securities held; and any relevant understandings or arrangements between the shareholder and affiliated parties, if any. A copy of the requirements for submitting a shareholder proposal is available in print to any shareholder who so requests it. Requests for a copy of these requirements should be mailed to our company's headquarters at Oxford Industries, Inc., 999 Peachtree Street, N.E., Suite 688, Atlanta, GA 30309, Attention: Investor Relations.

        Our bylaws further contemplate that shareholders who wish to have a proposal included in our proxy statement may be permitted to do so in accordance with Rule 14a-8 under the Exchange Act provided the proposal is otherwise in accordance with such Rule 14a-8. In order for a proposal to be included pursuant to Rule 14a-8 in the proxy statement for our 2020 annual meeting, it must be submitted in writing by January 8, 2020 and comply with the requirements of Rule 14a-8.

Communications to our Board of Directors

        Mail can be addressed to our directors in care of the Office of the Secretary at our company's headquarters at Oxford Industries, Inc., 999 Peachtree Street, N.E., Suite 688, Atlanta, Georgia 30309. At the direction of our Board, all mail received will be opened and screened for security purposes. The mail will then be logged in. All mail, other than trivial solicitations or obscene items, will be forwarded. Trivial items will be delivered to our directors at the next scheduled meeting of our Board. Mail addressed to a particular director will be forwarded or delivered to that director. Mail addressed to "Outside Directors," "Non-Management Directors" or the "Lead Director" will be forwarded or delivered to our lead director. Mail addressed to the "Board of Directors" will be delivered to our Chairman.

Proxy Solicitation

        We will bear the cost of solicitation of proxies by our Board in connection with the annual meeting. We will reimburse brokers, fiduciaries and custodians for reasonable expenses incurred by them in forwarding proxy materials to beneficial owners of our common stock held in their names. Our employees may solicit proxies by mail, telephone, facsimile, electronic mail and personal interview. We have also engaged Okapi Partners to act as our proxy solicitor and have agreed to pay it $6,500 for the year, plus reasonable out-of-pocket expenses, for such services.

Website Information

        We have posted our Corporate Governance Guidelines, Code of Conduct, ethical conduct policy for senior financial officers and Audit Committee and NC&G Committee charters under the "Corporate Governance" link under the "Investor Relations" tab on our website at www.oxfordinc.com. Additionally, we have posted our corporate social responsibility statement, Codes of Vendor Conduct for our business groups and Conflict Minerals Policy under the "Corporate Responsibility" tab on our website at www.oxfordinc.com.

    By Order of the Board of Directors

 

 

GRAPHIC

 

 

Suraj A. Palakshappa
Vice President-Law, General Counsel and Secretary

        Our Fiscal 2018 Annual Report on Form 10-K, which includes audited financial statements, is available on the Internet at http://www.edocumentview.com/oxford. Any shareholder may request a printed copy of the Fiscal 2018 Annual Report on Form 10-K by following the instructions in the Notice of Internet Availability.

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MMMMMMMMMMMM MMMMMMMMMMMMMMM C123456789 000000000.000000 ext 000000000.000000 ext 000000000.000000 ext 000000000.000000 ext 000000000.000000 ext 000000000.000000 ext 000004 ENDORSEMENT_LINE______________ SACKPACK_____________ Your vote matters – here’s how to vote! You may vote online or by phone instead of mailing this card. Votes submitted electronically must be MR A SAMPLE DESIGNATION (IF ANY) ADD 1 ADD 2 ADD 3 ADD 4 ADD 5 ADD 6 received by 1:00 a.m., EDT, on June 18, 2019. Online GIof ntoo welwewct.reonnviicsivoontrienpgo, rts.com/Oxford or delete QR code and control # scan the QR code — login details are located in the shaded bar below. Phone Call toll free 1-800-652-VOTE (8683) within the USA, US territories and Canada Save paper, time and money! Sign up for electronic delivery at www.envisionreports.com/Oxford Using a black ink pen, mark your votes with an X as shown in this example. Please do not write outside the designated areas. q IF VOTING BY MAIL, SIGN, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE. q + 1. Election of Directors: For Against Abstain For Against Abstain For Against Abstain 01 - Helen Ballard 02 - Thomas C. Gallagher 03 - Virginia A. Hepner For Against Abstain For Against Abstain 2. Ratify the selection of Ernst & Young LLP to serve as the Company's independent registered public accounting firm for fiscal 2019. 3. Proposal to approve, by a non-binding, advisory vote, the compensation of the Company's named executive officers. Please sign exactly as name(s) appears hereon. Joint owners should each sign. When signing as attorney, executor, administrator, corporate officer, trustee, guardian, or custodian, please give full title. Date (mm/dd/yyyy) — Please print date below. Signature 1 — Please keep signature within the box. Signature 2 — Please keep signature within the box. MMMMMMM C 1234567890 J N T 1 8 3 5 1 MR A SAMPLE (THIS AREA IS SET UP TO ACCOMMODATE 140 CHARACTERS) MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND + 3 2 B M 4 031WCC MMMMMMMMM B Authorized Signatures — This section must be completed for your vote to count. Please date and sign below. A Proposals — The Board of Directors recommend a vote FOR all the nominees listed in Proposal 1 and FOR Proposals 2 and 3. 2019 Annual Meeting Proxy Card1234 5678 9012 345

 

2019 Annual Meeting Admission Ticket 2019 Annual Meeting of Oxford Industries, Inc. Shareholders June 18, 2019, 2:00pm EDT The Fifth Floor Conference Center 999 Peachtree Street, N.E., Atlanta, GA 30309 Upon arrival, please present this admission ticket and photo identification at the registration desk. Important notice regarding the Internet availability of proxy materials for the Annual Meeting of Shareholders. The material is available at: www.envisionreports.com/Oxford q IF VOTING BY MAIL, SIGN, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE. q + Notice of 2019 Annual Meeting of Shareholders Proxy Solicited by Board of Directors for Annual Meeting — June 18, 2019 THOMAS C. CHUBB III, K. SCOTT GRASSMYER, and SURAJ A. PALAKSHAPPA, or any of them, each with the power of substitution, are hereby authorized to represent and vote the shares of the undersigned, with all the powers which the undersigned would possess if personally present, at the Annual Meeting of Shareholders of Oxford Industries, Inc. to be held on June 18, 2019 or at any postponement or adjournment thereof. Shares represented by this proxy will be voted by the shareholder. If no such directions are indicated, the Proxies will have authority to vote FOR the election of the Board of Directors and FOR items 2 and 3. In their discretion, the Proxies are authorized to vote upon such other business as may properly come before the meeting. (Items to be voted appear on reverse side) Change of Address — Please print new address below. Comments — Please print your comments below. + C Non-Voting Items Proxy - Oxford Industries, Inc. Small steps make an impact. Help the environment by consenting to receive electronic delivery, sign up at www.envisionreports.com/Oxford