<?xml version='1.0' encoding='UTF-8'?>

      <!-- iXBRL document created with: Toppan Merrill Bridge iXBRL 9.6.7811.37134 -->
      <!-- Based on: iXBRL 1.1 -->
      <!-- Created on: 6/30/2021 8:16:00 PM -->
      <!-- iXBRL Library version: 1.0.7811.37150 -->
      <!-- iXBRL Service Job ID: f69aebe9-2c60-450c-a00e-7a3668e4c82f -->

  <html xmlns:dei="http://xbrl.sec.gov/dei/2020-01-31" xmlns="http://www.w3.org/1999/xhtml" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:giii="http://www.g-iii.com/20210628" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xs="http://www.w3.org/2001/XMLSchema-instance" xmlns:ixt-sec="http://www.sec.gov/inlineXBRL/transformation/2015-08-31" xmlns:ixt="http://www.xbrl.org/inlineXBRL/transformation/2015-02-26" xmlns:ix="http://www.xbrl.org/2013/inlineXBRL" xmlns:ref="http://www.xbrl.org/2006/ref" xmlns:xbrli="http://www.xbrl.org/2003/instance"><head><meta http-equiv="content-type" content="text/html" /><title></title></head><body><div style="margin-top:30pt;"></div><div style="display:none;"><ix:header><ix:hidden><ix:nonNumeric contextRef="Duration_6_28_2021_To_6_28_2021_QoUo85AtDUKi19JWZR1kcg" name="dei:EntityRegistrantName" id="Hidden_DOwP9ln5MEGk-hjTAi7hKA">G III APPAREL GROUP LTD /DE/</ix:nonNumeric><ix:nonNumeric contextRef="Duration_6_28_2021_To_6_28_2021_QoUo85AtDUKi19JWZR1kcg" name="dei:EntityCentralIndexKey" id="Tc_fOBBkz2BDUGvoZXxPAnLeA_2_1">0000821002</ix:nonNumeric><ix:nonNumeric contextRef="Duration_6_28_2021_To_6_28_2021_QoUo85AtDUKi19JWZR1kcg" name="dei:AmendmentFlag" id="Tc_xgqnkAeVs0yYxugaTWVaaw_3_1">false</ix:nonNumeric></ix:hidden><ix:references><link:schemaRef xlink:href="giii-20210628.xsd" xlink:type="simple"></link:schemaRef></ix:references><ix:resources><xbrli:context id="Duration_6_28_2021_To_6_28_2021_QoUo85AtDUKi19JWZR1kcg"><xbrli:entity><xbrli:identifier scheme="http://www.sec.gov/CIK">0000821002</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-06-28</xbrli:startDate><xbrli:endDate>2021-06-28</xbrli:endDate></xbrli:period></xbrli:context></ix:resources></ix:header></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><div style="padding-top:1.5px;border-top:3.0pt solid #000000;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;padding-bottom:0pt;padding-top:1pt;text-align:center;border-top:1.5pt solid #000000;margin:0pt;"><span style="margin-bottom:12pt;visibility:hidden;">&#8203;</span></p><a id="_a8c3af17_bd5d_41a1_967b_c1e8369b0d30"></a></div><p style="border-top-style:none;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt;">UNITED STATES<br />SECURITIES AND EXCHANGE COMMISSION</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;white-space:pre-wrap;">WASHINGTON, D.C.  20549</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:14pt;font-weight:bold;text-align:center;margin:6pt 0pt 0pt 0pt;">FORM <ix:nonNumeric contextRef="Duration_6_28_2021_To_6_28_2021_QoUo85AtDUKi19JWZR1kcg" name="dei:DocumentType" id="Narr_Qyh_1WVgXU6ZxlULledF3A">8-K</ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;">CURRENT REPORT<br /><br />PURSUANT TO SECTION 13 OR 15(d) OF THE<br />SECURITIES EXCHANGE ACT OF 1934</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;"><span style="font-weight:normal;">Date of Report (Date of earliest event reported): June 30, 2021 (</span><ix:nonNumeric contextRef="Duration_6_28_2021_To_6_28_2021_QoUo85AtDUKi19JWZR1kcg" format="ixt:datemonthdayyearen" name="dei:DocumentPeriodEndDate" id="Narr_4yFE-rZs7EOeSQ3DsGzuSQ"><span style="font-weight:normal;">June 28, 2021</span></ix:nonNumeric><span style="font-weight:normal;">)</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:16pt;font-weight:bold;text-align:center;margin:0pt;"><span style="-sec-ix-hidden:Hidden_DOwP9ln5MEGk-hjTAi7hKA;"><b style="font-family:'Times New Roman','Times','serif';font-size:16pt;font-style:normal;font-weight:bold;text-align:center;">G-III APPAREL GROUP, LTD.</b></span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;"><span style="font-weight:normal;">(Exact Name of Registrant as Specified in Charter)</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;"><span style="visibility:hidden;">&#8203;</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;width:71.16%;"><tr style="height:1pt;"><td style="vertical-align:top;width:35.85%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td><td colspan="2" style="vertical-align:top;width:36.46%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:top;width:27.68%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td></tr><tr><td style="vertical-align:top;width:35.85%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;"><ix:nonNumeric contextRef="Duration_6_28_2021_To_6_28_2021_QoUo85AtDUKi19JWZR1kcg" format="ixt-sec:stateprovnameen" name="dei:EntityIncorporationStateCountryCode" id="Narr_nkuAnlNdx0iLsSVm813usQ">Delaware</ix:nonNumeric><br /><span style="font-weight:normal;">(State or Other Jurisdiction<br />of Incorporation)</span></p></td><td colspan="2" style="vertical-align:top;width:36.46%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;"><ix:nonNumeric contextRef="Duration_6_28_2021_To_6_28_2021_QoUo85AtDUKi19JWZR1kcg" name="dei:EntityFileNumber" id="Narr_USp1ujk-NUa9_3THhPXjPQ">0-18183</ix:nonNumeric><br /><span style="font-weight:normal;">(Commission File Number)</span></p></td><td style="vertical-align:top;width:27.68%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;"><ix:nonNumeric contextRef="Duration_6_28_2021_To_6_28_2021_QoUo85AtDUKi19JWZR1kcg" name="dei:EntityTaxIdentificationNumber" id="Narr_mtbmmMaNg0m3SfGRCF9sxg">41-1590959</ix:nonNumeric><br /><span style="font-weight:normal;">(IRS Employer<br />Identification No.)</span></p></td></tr><tr style="height:1pt;"><td colspan="2" style="vertical-align:top;width:54.07%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt;"><span style="display:inline-block;visibility:hidden;width:0pt;">&#8203;</span><br /><span style="font-weight:normal;">(Address of principal executive offices)</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td><td colspan="2" style="vertical-align:top;width:45.92%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td></tr><tr><td colspan="2" style="vertical-align:top;width:54.07%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="Duration_6_28_2021_To_6_28_2021_QoUo85AtDUKi19JWZR1kcg" name="dei:EntityAddressAddressLine1" id="Narr_rou1t7s-HEyw-GVxJbMg7w">512 Seventh Avenue</ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="Duration_6_28_2021_To_6_28_2021_QoUo85AtDUKi19JWZR1kcg" name="dei:EntityAddressCityOrTown" id="Narr_KOGO5-TdkkmWQRryEZ04dg">New York</ix:nonNumeric>, <ix:nonNumeric contextRef="Duration_6_28_2021_To_6_28_2021_QoUo85AtDUKi19JWZR1kcg" format="ixt-sec:stateprovnameen" name="dei:EntityAddressStateOrProvince" id="Narr_s7AoHgqqeUe_d_Bn0Ildyg">New York</ix:nonNumeric><br /><span style="font-weight:normal;">(Address of Principal Executive Offices)</span></p></td><td colspan="2" style="vertical-align:top;width:45.92%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;"><ix:nonNumeric contextRef="Duration_6_28_2021_To_6_28_2021_QoUo85AtDUKi19JWZR1kcg" name="dei:EntityAddressPostalZipCode" id="Narr_m4F3f7Rtzkqg5RffSy6kUw">10018</ix:nonNumeric><br /><span style="font-weight:normal;">(Zip Code)</span></p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt;">(<ix:nonNumeric contextRef="Duration_6_28_2021_To_6_28_2021_QoUo85AtDUKi19JWZR1kcg" name="dei:CityAreaCode" id="Narr_TdOkOUqJwUSuykArje1uGg">212</ix:nonNumeric>) <ix:nonNumeric contextRef="Duration_6_28_2021_To_6_28_2021_QoUo85AtDUKi19JWZR1kcg" name="dei:LocalPhoneNumber" id="Narr_CJuPFXnLhk2V-oyJ9Upm0w">403-0500</ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt;"><span style="font-weight:normal;">(Registrant&#8217;s telephone number, including area code)</span><br /><br />Not Applicable<br /><span style="font-weight:normal;">(Former name or former address, if changed since last report)</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt;"><span style="margin-bottom:12pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><span style="font-weight:normal;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (</span><span style="font-weight:normal;text-decoration:underline;text-decoration-color:#000000;">see</span><span style="font-weight:normal;"> General Instruction A.2 below):</span></p><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin-bottom:12pt;margin-top:0pt;"><ix:nonNumeric contextRef="Duration_6_28_2021_To_6_28_2021_QoUo85AtDUKi19JWZR1kcg" format="ixt-sec:boolballotbox" name="dei:WrittenCommunications" id="Narr_PrVBNQB7mE65GEcx0cum-w"><span style="font-family:'Segoe UI Symbol';font-weight:normal;">&#9744;</span></ix:nonNumeric></p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin-bottom:12pt;margin-top:0pt;"><span style="font-weight:normal;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</span></p></td></tr></table><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin-bottom:12pt;margin-top:0pt;"><ix:nonNumeric contextRef="Duration_6_28_2021_To_6_28_2021_QoUo85AtDUKi19JWZR1kcg" format="ixt-sec:boolballotbox" name="dei:SolicitingMaterial" id="Narr_ZaXko47kwkWFGIiz2P2I5w"><span style="font-family:'Segoe UI Symbol';font-weight:normal;">&#9744;</span></ix:nonNumeric></p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin-bottom:12pt;margin-top:0pt;"><span style="font-weight:normal;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</span></p></td></tr></table><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin-bottom:12pt;margin-top:0pt;"><ix:nonNumeric contextRef="Duration_6_28_2021_To_6_28_2021_QoUo85AtDUKi19JWZR1kcg" format="ixt-sec:boolballotbox" name="dei:PreCommencementTenderOffer" id="Narr_PLPl7rtme0u5dTEfIEHcsA"><span style="font-family:'Segoe UI Symbol';font-weight:normal;">&#9744;</span></ix:nonNumeric></p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin-bottom:12pt;margin-top:0pt;"><span style="font-weight:normal;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</span></p></td></tr></table><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin-bottom:12pt;margin-top:0pt;"><ix:nonNumeric contextRef="Duration_6_28_2021_To_6_28_2021_QoUo85AtDUKi19JWZR1kcg" format="ixt-sec:boolballotbox" name="dei:PreCommencementIssuerTenderOffer" id="Narr_OMYOjmBYG0KxjiNa9wO_Eg"><span style="font-family:'Segoe UI Symbol';font-weight:normal;">&#9744;</span></ix:nonNumeric></p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin-bottom:12pt;margin-top:0pt;"><span style="font-weight:normal;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</span></p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">Securities registered pursuant to Section 12(b) of the Act:</p><a id="_35c73e73_d4c0_4163_9aa9_a67c27541a48"></a><a id="Tc_yyrsJ2hdiUG-8rvkOq0NIw_1_0"></a><a id="Tc_6tdNNtzOyU2uuu8c3TgdIA_1_1"></a><a id="Tc_RCwDhoUhskmD4V5qdIGotQ_1_2"></a><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-1.5384598%;width:103.07%;"><tr style="height:1pt;"><td style="vertical-align:top;width:37.32%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:19.57%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:43.09%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td></tr><tr><td style="vertical-align:top;width:37.32%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 2.2pt 0pt;">Title of each class</p></td><td style="vertical-align:top;width:19.57%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 2.2pt 0pt;">Trading Symbol(s)</p></td><td style="vertical-align:top;width:43.09%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 2.2pt 0pt;">Name of each exchange on which registered</p></td></tr><tr><td style="vertical-align:top;width:37.32%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 2.2pt 0pt;"><ix:nonNumeric contextRef="Duration_6_28_2021_To_6_28_2021_QoUo85AtDUKi19JWZR1kcg" name="dei:Security12bTitle" id="Tc_z6EfpX4FwUevXOTssgZCAg_2_0">Common Stock, $0.01 par value per share</ix:nonNumeric></p></td><td style="vertical-align:top;width:19.57%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 2.2pt 0pt;"><ix:nonNumeric contextRef="Duration_6_28_2021_To_6_28_2021_QoUo85AtDUKi19JWZR1kcg" name="dei:TradingSymbol" id="Tc_p2P8xK_FrUWXxQSmKcdlJQ_2_1">GIII</ix:nonNumeric></p></td><td style="vertical-align:top;width:43.09%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 2.2pt 0pt;"><ix:nonNumeric contextRef="Duration_6_28_2021_To_6_28_2021_QoUo85AtDUKi19JWZR1kcg" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName" id="Tc_Lf3o9dL0j0ysOfb-AwY3vg_2_2">The Nasdaq Stock Market</ix:nonNumeric></p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR &#167;240.12b-2 of this chapter). <span style="display:inline-block;width:30.14pt;"></span><span style="display:inline-block;width:36pt;"></span><span style="display:inline-block;width:36pt;"></span><span style="display:inline-block;width:36pt;"></span><span style="display:inline-block;width:36pt;"></span><span style="display:inline-block;width:36pt;"></span>Emerging growth company <ix:nonNumeric contextRef="Duration_6_28_2021_To_6_28_2021_QoUo85AtDUKi19JWZR1kcg" format="ixt-sec:boolballotbox" name="dei:EntityEmergingGrowthCompany" id="Narr_9_bVXHDQFke14j3WhppQ7g"><span style="font-family:'Segoe UI Symbol';">&#9744;</span></ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. <span style="font-family:'Segoe UI Symbol';">&#9744;</span></p><div style="margin-bottom:12pt;padding-bottom:1.5px;border-bottom:3.0pt solid #000000;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-bottom:1pt;border-bottom:1.5pt solid #000000;margin:0pt;"><span style="margin-bottom:12pt;visibility:hidden;">&#8203;</span></p></div></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:76.47%;border:0;margin:30pt 11.76% 30pt 11.76%;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-family:'Times New Roman Bold';font-weight:bold;white-space:pre-wrap;">Item 1.01     Entry into a </b><b style="font-weight:bold;">Material Definitive Agreement.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:72pt;text-indent:-72pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">In March 2021, the Compensation Committee (the &#8220;Compensation Committee&#8221;) of the Board of Directors of G-III Apparel Group, Ltd. (the &#8220;Company&#8221;) awarded time-based restricted stock units with three-year cliff-vesting (&#8220;Cliff-Vesting RSUs&#8221;), pursuant to the Company&#8217;s 2015 Long-Term Incentive Plan, as amended (the &#8220;2015 Plan&#8221;), to the named executive officers of the Company (the &#8220;Named Executive Officers&#8221;) in the amounts shown under the heading &#8220;Cliff-Vesting RSUs Awarded in March 2021&#8221; in the table below. The Compensation Committee awarded Cliff-Vesting RSUs because setting meaningful long-term performance conditions was, at the time of the awards, impracticable due to the severe disruptions to the Company&#8217;s business caused by the COVID-19 pandemic and the resulting inability to provide guidance concerning the Company&#8217;s financial results.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="margin-bottom:12pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">In June 2021, following stabilization of the Company&#8217;s business and its resumption of public reporting of guidance concerning its financial results, the Compensation Committee determined to restructure the Cliff-Vesting RSUs granted to the Named Executive Officers in March 2021 to be 50% performance-based. Each Named Executive Officer voluntarily agreed to accept this modification of the terms of his respective Cliff-Vesting RSUs awarded in March 2021.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="margin-bottom:12pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">On June 28, 2021, the Compensation Committee amended the terms of the March 2021 Cliff-Vesting RSU awards to the Named Executive Officers, so that each award consists of (a) performance share units (&#8220;PSUs&#8221;) in lieu of 50% of the previously awarded Cliff-Vesting RSUs, as shown under the heading &#8220;June 2021 Modification: Number of PSUs Awarded&#8221; in the table below and (b) the retention of 50% of the previously awarded Cliff-Vesting RSUs, as shown under the heading &#8220;June 2021 Modification: Number of Cliff-Vesting RSUs Retained.&#8221; The PSUs will enable the Named Executive Officers to receive shares of the Company&#8217;s common stock if and to the extent that the PSU awards vest based on the Company&#8217;s performance against two metrics: &#160;three-year cumulative adjusted earnings before interest and taxes (&#8220;Adjusted EBIT&#8221;) and three-year average return on invested capital (&#8220;ROIC&#8221;), each of which is described further below. The actual number of PSUs that may vest is subject to adjustment based on the performance level achieved relative to each metric, as described further below, and therefore may be equal to, greater than, or less than the amount specified under &#8220;June 2021 Modification: Number of PSUs Awarded&#8221; in the table below.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="margin-bottom:12pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><span style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:justify;">1.</span></span><i style="font-style:italic;">Modification of March 2021 Awards</i></p><div style="padding-left:5.4pt;"><table style="border-collapse:collapse;font-size:16pt;height:max-content;width:99.75%;"><tr style="height:1pt;"><td style="vertical-align:top;width:24.81%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:21.2%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:26.98%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:26.98%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td></tr><tr><td style="vertical-align:top;width:24.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;"><span style="display:inline-block;visibility:hidden;width:0pt;">&#8203;</span><br /><span style="display:inline-block;visibility:hidden;width:0pt;">&#8203;</span><br /></b><b style="font-weight:bold;">Name and Position(s)</b></p></td><td style="vertical-align:top;width:21.2%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">Cliff-Vesting RSUs Awarded in March 2021</b></p></td><td style="vertical-align:top;width:26.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">June 2021 Modification: Number of PSUs Awarded</b></p></td><td style="vertical-align:top;width:26.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">June 2021 Modification: Number of Cliff-Vesting RSUs Retained</b></p></td></tr><tr><td style="vertical-align:top;width:24.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">Morris Goldfarb, Chairman, Chief Executive Officer and Director</p></td><td style="vertical-align:top;width:21.2%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;">127,266</p></td><td style="vertical-align:top;width:26.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;">63,633</p></td><td style="vertical-align:top;width:26.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;">63,633</p></td></tr><tr><td style="vertical-align:top;width:24.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">Sammy Aaron, Vice Chairman, President and Director</p></td><td style="vertical-align:top;width:21.2%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;">84,844</p></td><td style="vertical-align:top;width:26.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;">42,422</p></td><td style="vertical-align:top;width:26.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;">42,422</p></td></tr><tr><td style="vertical-align:top;width:24.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">Wayne S. Miller, Chief Operating Officer</p></td><td style="vertical-align:top;width:21.2%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;">38,180</p></td><td style="vertical-align:top;width:26.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;">19,090</p></td><td style="vertical-align:top;width:26.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;">19,090</p></td></tr><tr><td style="vertical-align:top;width:24.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">Jeffrey Goldfarb, Executive Vice President and Director</p></td><td style="vertical-align:top;width:21.2%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;">31,816</p></td><td style="vertical-align:top;width:26.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;">15,908</p></td><td style="vertical-align:top;width:26.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;">15,908</p></td></tr><tr><td style="vertical-align:top;width:24.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">Neal S. Nackman, Chief Financial Officer</p></td><td style="vertical-align:top;width:21.2%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;">11,454</p></td><td style="vertical-align:top;width:26.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;">5,727</p></td><td style="vertical-align:top;width:26.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;">5,727</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:12pt 0pt 0pt 0pt;"><span style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:justify;">2.</span></span><i style="font-style:italic;">Adjusted EBIT Metric</i>. &#160;Satisfaction of this metric will be based on the Company achieving a target aggregate cumulative Adjusted EBIT during the performance period of fiscal 2022 through fiscal 2024 (the &#8220;Performance Period&#8221;). In determining Adjusted EBIT for a fiscal year, certain pre-established adjustments to </p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">2</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:76.47%;border:0;margin:30pt 11.76% 30pt 11.76%;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">financial results as reported under generally accepted accounting principles (GAAP) may apply in certain specified situations.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="margin-bottom:12pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:justify;">3.</span></span><i style="font-style:italic;">ROIC Metric</i>. &#160;Satisfaction of this metric will be based on the Company achieving a target average three-year ROIC during the Performance Period, reduced by a hypothetical tax rate of 30%. In determining ROIC for a fiscal year, certain pre-established adjustments to financial results reported under generally accepted accounting principles (GAAP) may apply in certain specified situations.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="margin-bottom:12pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:justify;">4.</span></span><i style="font-style:italic;">Weighting of Metrics</i>. &#160;Vesting of 75% of each Named Executive Officer&#8217;s PSU award is subject to achievement of the Adjusted EBIT metric target and the remaining 25% is subject to achievement of the ROIC metric target. 100% of each Named Executive Officer&#8217;s PSU award relative to each metric would vest if the target for that metric is achieved. For example, if the Adjusted EBIT metric target is satisfied (but the target is not exceeded and there is no shortfall relative to the target), 75% of the total PSUs awarded to the Named Executive Officer would vest.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="margin-bottom:12pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:justify;">5.</span></span><i style="font-style:italic;">Upward and Downward Adjustments for Exceeding or Falling Short of Metric Targets. &#160;</i>The percentage of each Named Executive Officer&#8217;s PSU award that may vest with respect to each metric will (a) increase to a maximum of 150% of the PSUs awarded to the executive relative to that metric if the results achieved for that metric exceed the metric&#8217;s performance target by a specified amount and (b) decrease to a minimum of 50% of the PSUs awarded to the Named Executive Officer relative to that metric if results achieved for that metric fall below the metric&#8217;s performance target but still satisfy the minimum threshold performance level for the applicable metric. The number of PSUs awarded will increase or decrease ratably if actual results are above or below a metric&#8217;s target. None of the Named Executive Officers&#8217; PSU awards will vest with respect to a metric if the results achieved are less than the minimum threshold performance level for that metric, and no more than 150% of the Named Executive Officer&#8217;s PSU award will vest with respect to a metric even if the results achieved exceed the maximum performance target for that metric.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="margin-bottom:12pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:justify;">6.</span></span><i style="font-style:italic;">Settlement Upon PSU Vesting</i>. &#160;If a Named Executive Officer&#8217;s PSUs vest based on satisfaction of the metrics as described above, settlement of the applicable number of shares underlying the PSUs that have vested based upon the performance levels achieved, subject to any applicable tax withholding, will occur as soon as practicable after the vesting date, contingent on continued employment or other service to the Company through this date.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="margin-bottom:12pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">The number of shares of common stock to which the PSU awards relate will be appropriately adjusted in the event of stock splits, stock dividends and other extraordinary corporate events.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="margin-bottom:12pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">The foregoing descriptions of the terms of the PSU awards are qualified by reference to the full text of the form of Amended and Restated Restricted Stock Unit Agreement for these awards under the 2015 Plan, which is filed herewith as Exhibit 10.1.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="margin-bottom:12pt;visibility:hidden;">&#8203;</span></p><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:72pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;text-align:justify;"><b style="font-weight:bold;">Item 5.02</b></p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;text-align:justify;"><b style="font-weight:bold;">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</b></p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:72pt;text-align:justify;text-indent:-72pt;margin:0pt;"><span style="font-weight:bold;margin-bottom:12pt;visibility:hidden;">&#8203;</span></p><p style="background-color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><span style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"></span><span style="font-size:10pt;">(e)</span><span style="display:inline-block;width:24.9pt;"></span><span style="font-size:10pt;">(1)</span><span style="display:inline-block;width:24.34pt;"></span><span style="font-size:10pt;">On June 28, 2021, the Compensation Committee increased the base salary of Neal S. Nackman, the Company&#8217;s Chief Financial Officer and Treasurer, to $600,000 per year, effective July 1, 2021.</span></p><p style="background-color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><span style="font-size:10pt;margin-bottom:5pt;margin-top:5pt;visibility:hidden;">&#8203;</span></p><p style="background-color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><span style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"></span><span style="display:inline-block;width:36pt;"></span><span style="font-size:10pt;">(2)</span><span style="display:inline-block;width:24.34pt;"></span><span style="font-size:10pt;">See &#8220;Item 1.01 Entry into a Material Definitive Agreement&#8221; above with respect to amended Cliff-Vesting RSU awards and PSU awards to our Named Executive Officers, Morris Goldfarb, Sammy Aaron, Wayne S. Miller, Neal S. Nackman and Jeffrey Goldfarb.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="margin-bottom:12pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;"><b style="font-family:'Times New Roman Bold';font-weight:bold;white-space:pre-wrap;">Item 9.01     Financial Statements and Exhibits.</b></p><div style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin-bottom:0pt;margin-left:36pt;margin-top:0pt;padding-left:18pt;text-align:justify;text-indent:-18pt;"><span style="display:inline-block;font-family:'Times New Roman';font-size:10pt;min-width:18pt;text-indent:0pt;white-space:nowrap;">(a)</span><span style="font-size:10pt;text-decoration:underline;text-decoration-color:#000000;">Financial Statements of Businesses Acquired.</span></div><div style="margin-top:12pt;"></div><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;text-indent:0pt;margin:0pt 0pt 12pt 54pt;"><span style="font-size:10pt;">None.</span></p><div style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin-bottom:0pt;margin-left:36pt;margin-top:0pt;padding-left:18pt;text-align:justify;text-indent:-18pt;"><span style="display:inline-block;font-family:'Times New Roman';font-size:10pt;min-width:18pt;text-indent:0pt;white-space:nowrap;">(b)</span><span style="font-size:10pt;text-decoration:underline;text-decoration-color:#000000;">Pro Forma Financial Information.</span></div><div style="margin-top:12pt;"></div><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;text-indent:0pt;margin:0pt 0pt 12pt 54pt;"><span style="font-size:10pt;">None.</span></p><div style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin-bottom:0pt;margin-left:36pt;margin-top:0pt;padding-left:18pt;text-align:justify;text-indent:-18pt;"><span style="display:inline-block;font-family:'Times New Roman';font-size:10pt;min-width:18pt;text-indent:0pt;white-space:nowrap;">(c)</span><span style="font-size:10pt;text-decoration:underline;text-decoration-color:#000000;">Shell Company Transactions</span></div><div style="margin-top:12pt;"></div></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">3</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:76.47%;border:0;margin:30pt 11.76% 30pt 11.76%;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;text-indent:0pt;margin:0pt 0pt 12pt 54pt;"><span style="font-size:10pt;">None.</span></p><div style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin-bottom:0pt;margin-left:36pt;margin-top:0pt;padding-left:18pt;text-align:justify;text-indent:-18pt;"><span style="display:inline-block;font-family:'Times New Roman';font-size:10pt;min-width:18pt;text-indent:0pt;white-space:nowrap;">(d)</span><span style="font-size:10pt;text-decoration:underline;text-decoration-color:#000000;">Exhibits</span><span style="font-size:10pt;">.</span></div><div style="margin-top:12pt;"></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0pt 41.4pt;"><span style="font-size:1pt;margin-left:0pt;visibility:hidden;">&#8203;</span></p><table style="border-collapse:collapse;border:0;"><tr><td style="width:41pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:41.9pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;text-align:justify;">10.1</p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;text-align:justify;"><a style="-sec-extract:exhibit;" href="giii-20210628xex10d1.htm"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:justify;">Form of </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:justify;">Amended and Restated Restricted Stock Unit Agreement, dated June 28, 2021, with respect to revised awards under the 2015 Plan.</span></a></p></td></tr></table><table style="border-collapse:collapse;border:0;"><tr><td style="width:41pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:41.9pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;">104</p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;">Cover Page Interactive Data File (embedded within the Inline XBRL document).</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt 0pt 12pt 0pt;"><span style="font-size:12pt;visibility:hidden;">&#8203;</span></p><p style="display:none;line-height:0pt;margin:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:0pt;visibility:hidden;">&#8203;</span></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">4</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:76.47%;border:0;margin:30pt 11.76% 30pt 11.76%;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt 0pt 12pt 0pt;"><span style="font-size:10pt;">EXHIBIT INDEX</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:12.5%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:top;width:87.5%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td></tr><tr><td style="vertical-align:top;width:12.5%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Exhibit<br />No.</b></p></td><td style="vertical-align:top;width:87.5%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;"><span style="display:inline-block;visibility:hidden;width:0pt;">&#8203;</span><br /></b><b style="font-weight:bold;">Description</b></p></td></tr><tr><td style="vertical-align:top;width:12.5%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">10.1</p></td><td style="vertical-align:top;width:87.5%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><a style="-sec-extract:exhibit;" href="giii-20210628xex10d1.htm"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">Form of </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">Amended and Restated Restricted Stock Unit Agreement, dated June 28, 2021, with respect to revised awards under the 2015 Plan.</span></a>  </p></td></tr><tr><td style="vertical-align:top;width:12.5%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">104</p></td><td style="vertical-align:top;width:87.5%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="text-decoration:none;">Cover Page Interactive Data File (embedded within the Inline XBRL document).</span></p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">3</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:76.47%;border:0;margin:30pt 11.76% 30pt 11.76%;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt 0pt 24pt 0pt;"><span style="font-weight:normal;">SIGNATURE</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><span style="font-size:10pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:49.63%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:top;width:5.7%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:top;width:44.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div></td></tr><tr><td style="vertical-align:top;width:49.63%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td colspan="2" style="vertical-align:top;width:50.36%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">G-III APPAREL GROUP, LTD.</p></td></tr><tr><td style="vertical-align:top;width:49.63%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:5.7%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:44.65%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td></tr><tr><td style="vertical-align:top;width:49.63%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Date: June 30, 2021</p></td><td style="vertical-align:top;width:5.7%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">By:</p></td><td style="vertical-align:top;width:44.65%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="white-space:pre-wrap;">/s/   Neal S. Nackman</span></p></td></tr><tr><td style="vertical-align:top;width:49.63%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:5.7%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Name:</p></td><td style="vertical-align:top;width:44.65%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Neal S. Nackman</p></td></tr><tr><td style="vertical-align:top;width:49.63%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:5.7%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Title:</p></td><td style="vertical-align:top;width:44.65%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Chief Financial Officer</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"> <span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">-</b>4-</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;margin-left:11.76%;margin-right:11.76%;margin-top:30pt;page-break-after:avoid;width:76.47%;border:0;"></div></body></html>
[{"type": "8-K", "sequence": "1", "filename": "giii-20210628x8k.htm", "description": "8-K", "secsgml_size_bytes": 61929}]
{"company-data": {"conformed-name": "G III APPAREL GROUP LTD /DE/", "cik": "0000821002", "assigned-sic": "2300", "irs-number": "411590959", "state-of-incorporation": "DE", "fiscal-year-end": "0131"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-18183", "film-number": "211062119"}, "business-address": {"street1": "512 SEVENTH AVE", "city": "NEW YORK", "state": "NY", "zip": "10018", "phone": "2126298830"}, "mail-address": {"street1": "512 SEVENTH AVENUE", "city": "NEW YORK", "state": "NY", "zip": "10018"}, "former-company": {"former-conformed-name": "ANTE CORP", "date-changed": "19891120"}}
​
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.  20549
FORM
8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 30, 2021 (
June 28, 2021
)
G-III APPAREL GROUP, LTD.
(Exact Name of Registrant as Specified in Charter)
​
​
​
​
Delaware
(State or Other Jurisdiction
of Incorporation)
0-18183
(Commission File Number)
41-1590959
(IRS Employer
Identification No.)
​
(Address of principal executive offices)
​
​
512 Seventh Avenue
New York
,
New York
(Address of Principal Executive Offices)
10018
(Zip Code)
​
(
212
)
403-0500
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
​
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (
see
General Instruction A.2 below):
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, $0.01 par value per share
GIII
The Nasdaq Stock Market
​
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2 of this chapter).
Emerging growth company
☐
​
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
​
Item 1.01     Entry into a
Material Definitive Agreement.
​
In March 2021, the Compensation Committee (the "Compensation Committee") of the Board of Directors of G-III Apparel Group, Ltd. (the "Company") awarded time-based restricted stock units with three-year cliff-vesting ("Cliff-Vesting RSUs"), pursuant to the Company's 2015 Long-Term Incentive Plan, as amended (the "2015 Plan"), to the named executive officers of the Company (the "Named Executive Officers") in the amounts shown under the heading "Cliff-Vesting RSUs Awarded in March 2021" in the table below. The Compensation Committee awarded Cliff-Vesting RSUs because setting meaningful long-term performance conditions was, at the time of the awards, impracticable due to the severe disruptions to the Company's business caused by the COVID-19 pandemic and the resulting inability to provide guidance concerning the Company's financial results.
​
In June 2021, following stabilization of the Company's business and its resumption of public reporting of guidance concerning its financial results, the Compensation Committee determined to restructure the Cliff-Vesting RSUs granted to the Named Executive Officers in March 2021 to be 50% performance-based. Each Named Executive Officer voluntarily agreed to accept this modification of the terms of his respective Cliff-Vesting RSUs awarded in March 2021.
​
On June 28, 2021, the Compensation Committee amended the terms of the March 2021 Cliff-Vesting RSU awards to the Named Executive Officers, so that each award consists of (a) performance share units ("PSUs") in lieu of 50% of the previously awarded Cliff-Vesting RSUs, as shown under the heading "June 2021 Modification: Number of PSUs Awarded" in the table below and (b) the retention of 50% of the previously awarded Cliff-Vesting RSUs, as shown under the heading "June 2021 Modification: Number of Cliff-Vesting RSUs Retained." The PSUs will enable the Named Executive Officers to receive shares of the Company's common stock if and to the extent that the PSU awards vest based on the Company's performance against two metrics:  three-year cumulative adjusted earnings before interest and taxes ("Adjusted EBIT") and three-year average return on invested capital ("ROIC"), each of which is described further below. The actual number of PSUs that may vest is subject to adjustment based on the performance level achieved relative to each metric, as described further below, and therefore may be equal to, greater than, or less than the amount specified under "June 2021 Modification: Number of PSUs Awarded" in the table below.
​
1.
Modification of March 2021 Awards
​
​
Name and Position(s)
Cliff-Vesting RSUs Awarded in March 2021
June 2021 Modification: Number of PSUs Awarded
June 2021 Modification: Number of Cliff-Vesting RSUs Retained
Morris Goldfarb, Chairman, Chief Executive Officer and Director
127,266
63,633
63,633
Sammy Aaron, Vice Chairman, President and Director
84,844
42,422
42,422
Wayne S. Miller, Chief Operating Officer
38,180
19,090
19,090
Jeffrey Goldfarb, Executive Vice President and Director
31,816
15,908
15,908
Neal S. Nackman, Chief Financial Officer
11,454
5,727
5,727
2.
Adjusted EBIT Metric
.  Satisfaction of this metric will be based on the Company achieving a target aggregate cumulative Adjusted EBIT during the performance period of fiscal 2022 through fiscal 2024 (the "Performance Period"). In determining Adjusted EBIT for a fiscal year, certain pre-established adjustments to
2
​
financial results as reported under generally accepted accounting principles (GAAP) may apply in certain specified situations.
​
3.
ROIC Metric
.  Satisfaction of this metric will be based on the Company achieving a target average three-year ROIC during the Performance Period, reduced by a hypothetical tax rate of 30%. In determining ROIC for a fiscal year, certain pre-established adjustments to financial results reported under generally accepted accounting principles (GAAP) may apply in certain specified situations.
​
4.
Weighting of Metrics
.  Vesting of 75% of each Named Executive Officer's PSU award is subject to achievement of the Adjusted EBIT metric target and the remaining 25% is subject to achievement of the ROIC metric target. 100% of each Named Executive Officer's PSU award relative to each metric would vest if the target for that metric is achieved. For example, if the Adjusted EBIT metric target is satisfied (but the target is not exceeded and there is no shortfall relative to the target), 75% of the total PSUs awarded to the Named Executive Officer would vest.
​
5.
Upward and Downward Adjustments for Exceeding or Falling Short of Metric Targets.
The percentage of each Named Executive Officer's PSU award that may vest with respect to each metric will (a) increase to a maximum of 150% of the PSUs awarded to the executive relative to that metric if the results achieved for that metric exceed the metric's performance target by a specified amount and (b) decrease to a minimum of 50% of the PSUs awarded to the Named Executive Officer relative to that metric if results achieved for that metric fall below the metric's performance target but still satisfy the minimum threshold performance level for the applicable metric. The number of PSUs awarded will increase or decrease ratably if actual results are above or below a metric's target. None of the Named Executive Officers' PSU awards will vest with respect to a metric if the results achieved are less than the minimum threshold performance level for that metric, and no more than 150% of the Named Executive Officer's PSU award will vest with respect to a metric even if the results achieved exceed the maximum performance target for that metric.
​
6.
Settlement Upon PSU Vesting
.  If a Named Executive Officer's PSUs vest based on satisfaction of the metrics as described above, settlement of the applicable number of shares underlying the PSUs that have vested based upon the performance levels achieved, subject to any applicable tax withholding, will occur as soon as practicable after the vesting date, contingent on continued employment or other service to the Company through this date.
​
The number of shares of common stock to which the PSU awards relate will be appropriately adjusted in the event of stock splits, stock dividends and other extraordinary corporate events.
​
The foregoing descriptions of the terms of the PSU awards are qualified by reference to the full text of the form of Amended and Restated Restricted Stock Unit Agreement for these awards under the 2015 Plan, which is filed herewith as Exhibit 10.1.
​
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
​
(e)
(1)
On June 28, 2021, the Compensation Committee increased the base salary of Neal S. Nackman, the Company's Chief Financial Officer and Treasurer, to $600,000 per year, effective July 1, 2021.
​
(2)
See "Item 1.01 Entry into a Material Definitive Agreement" above with respect to amended Cliff-Vesting RSU awards and PSU awards to our Named Executive Officers, Morris Goldfarb, Sammy Aaron, Wayne S. Miller, Neal S. Nackman and Jeffrey Goldfarb.
​
Item 9.01     Financial Statements and Exhibits.
(a)
Financial Statements of Businesses Acquired.
None.
(b)
Pro Forma Financial Information.
None.
(c)
Shell Company Transactions
3
​
None.
(d)
Exhibits
.
​
10.1
Form of
Amended and Restated Restricted Stock Unit Agreement, dated June 28, 2021, with respect to revised awards under the 2015 Plan.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).
​
​
4
​
EXHIBIT INDEX
​
​
Exhibit
No.
​
Description
10.1
Form of
Amended and Restated Restricted Stock Unit Agreement, dated June 28, 2021, with respect to revised awards under the 2015 Plan.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).
​
​
3
​
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
​
​
​
​
G-III APPAREL GROUP, LTD.
​
​
​
Date: June 30, 2021
By:
/s/   Neal S. Nackman
​
Name:
Neal S. Nackman
​
Title:
Chief Financial Officer
​
​
​
​
-
4-
​