Capri Holdings Ltd — Director's Dealing 2013

Dec 18, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Michael Kors Holdings Ltd (KORS)
CIK: 0001530721
Period of Report: 2013-10-01

Reporting Person: Russell Britton (SVP, Global Operations)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-10-01	Ordinary shares, no par value	S	403	$75.1357	Disposed	4120	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee share option (right to buy)	$52.90	2019-10-01	Ordinary shares, no par value (6726)	6726	Direct
Employee share option (right to buy)	$62.24	2020-06-03	Ordinary shares, no par value (4211)	4211	Direct
Performance-based restricted share units	$0		Ordinary shares, no par value (1446)	0	Direct

Footnotes

F1: Represents shares sold by the reporting person to cover tax withholding obligations upon the vesting of restricted shares.

F2: Granted pursuant to the Michael Kors Holdings Limited Omnibus Incentive Plan (the "Incentive Plan") on October 1, 2012. 25% of these share options are fully vested and exercisable. Of the remaining unvested share options one-third will vest on October 1, 2014, 2015 and 2016, respectively, subject to grantee's continued employment with the Company through the vesting date.

F3: Granted pursuant to the Incentive Plan on June 3, 2013. 25% of these share options will vest annually on each of June 3, 2014, 2015, 2016 and 2017, respectively, subject to grantee's continued employment with the Company through the vesting date.

F4: Each performance-based restricted share unit ("PRSUs") represents a contingent right to receive one ordinary share of the Company. The PRSUs will cliff vest around June 2016 only upon achievement of a pre-established cumulative net earnings goal for the applicable three-year period (2014-2016), subject to the grantee's continued employment with the Company through the end of such performance period.

F5: The number of ordinary shares earned with respect to such PRSUs will range from 0-150% of the shares originally subject to the award, depending on actual achievement.