<SEC-DOCUMENT>0000892712-21-000154.txt : 20210324
<SEC-HEADER>0000892712-21-000154.hdr.sgml : 20210324
<ACCEPTANCE-DATETIME>20210324084928
ACCESSION NUMBER:		0000892712-21-000154
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20210324
DATE AS OF CHANGE:		20210324

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KOHLS Corp
		CENTRAL INDEX KEY:			0000885639
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-DEPARTMENT STORES [5311]
		IRS NUMBER:				391630919
		STATE OF INCORPORATION:			WI
		FISCAL YEAR END:			0130

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11084
		FILM NUMBER:		21766763

	BUSINESS ADDRESS:	
		STREET 1:		N56 W17000 RIDGEWOOD DR
		CITY:			MENOMONEE FALLS
		STATE:			WI
		ZIP:			53051
		BUSINESS PHONE:		262 703 7000

	MAIL ADDRESS:	
		STREET 1:		N56 W17000 RIDGEWOOD DR
		CITY:			MENOMONEE FALLS
		STATE:			WI
		ZIP:			53051

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KOHLS CORPORATION
		DATE OF NAME CHANGE:	19930328
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>kss14afinal.htm
<TEXT>
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<title>KOHL'S DEFA14A</TITLE>
<DIV style=margin-left:36pt;width:553.5pt><P align=center style='font:10pt Times New Roman;margin:0'><A name=_Hlk66189505 />UNITED STATES</P>
<P align=center style='font:10pt Times New Roman;margin:0'>SECURITIES AND EXCHANGE COMMISSION</P>
<P align=center style='font:10pt Times New Roman;margin:0'>Washington, D.C. 20549</P>
<P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'>SCHEDULE 14A INFORMATION</P>
<P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'>PROXY STATEMENT PURSUANT TO SECTION 14(a)</P>
<P align=center style='font:10pt Times New Roman;margin:0'>OF THE SECURITIES EXCHANGE ACT OF 1934</P>
<P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'>(AMENDMENT NO. ____)</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>Filed by the Registrant [X]</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>Filed by a Party other than the Registrant [  &nbsp;]</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>Check the appropriate box:</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:0pt'>[  &nbsp;]</KBD><KBD style=margin-left:36pt></KBD>Preliminary Proxy Statement&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:0pt'>[  &nbsp;]</KBD><KBD style=margin-left:36pt></KBD>Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:0pt'>[  &nbsp;]</KBD><KBD style=margin-left:36pt></KBD>Definitive Proxy Statement&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:0pt'>[X]</KBD><KBD style=margin-left:36pt></KBD>Definitive Additional Materials&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:0pt'>[  &nbsp;]</KBD><KBD style=margin-left:36pt></KBD>Soliciting Material Pursuant to &#167;240.14a-12&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<TABLE style=border-collapse:collapse><TR><TD valign=top style='width:478.8pt;border-bottom:0.5pt solid #000000'><P align=center style='font:10pt Times New Roman;margin:0'>KOHL&#8217;S CORPORATION</P>
</TD></TR>
<TR><TD valign=top style='width:478.8pt;border-top:0.5pt solid #000000'><P align=center style='font:10pt Times New Roman;margin:0'>(Name of Registrant as Specified In Its Charter)</P>
</TD></TR>
<TR><TD valign=top style='width:478.8pt;border-bottom:0.5pt solid #000000'><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=top style='width:478.8pt;border-top:0.5pt solid #000000'><P align=center style='font:10pt Times New Roman;margin:0'>Name of Person(s) Filing Proxy Statement if other than the Registrant)</P>
</TD></TR>
<TR><TD valign=top style=width:478.8pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
</TABLE>
<P style='font:10pt Times New Roman;margin:0'>Payment of Filing Fee (Check the appropriate box):</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:0pt'>[X]</KBD><KBD style=margin-left:36pt></KBD>No fee required.&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:0pt'>[  &nbsp;]</KBD><KBD style=margin-left:36pt></KBD>Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<TABLE style=border-collapse:collapse><TR><TD valign=top style=width:41.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:22.5pt><P style='font:10pt Times New Roman;margin:0'>(1)</P>
</TD><TD valign=top style=width:256.5pt><P style='font:10pt Times New Roman;margin:0'>Title of each class of securities to which transaction applies:</P>
</TD><TD valign=top style='width:158.4pt;border-bottom:0.5pt solid #000000'><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=top style=width:41.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:22.5pt><P style='font:10pt Times New Roman;margin:0'>(2)</P>
</TD><TD valign=top style=width:256.5pt><P style='font:10pt Times New Roman;margin:0'>Aggregate number of securities to which transaction applies:</P>
</TD><TD valign=top style='width:158.4pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000'><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=top style=width:41.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:22.5pt><P style='font:10pt Times New Roman;margin:0'>(3)</P>
</TD><TD valign=top style=width:256.5pt><P style='font:10pt Times New Roman;margin:0'>Per unit price or other underlying value of transaction </P>
</TD><TD valign=top style='width:158.4pt;border-top:0.5pt solid #000000'><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=top style=width:41.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:22.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:256.5pt><P style='font:10pt Times New Roman;margin:0'>&#160;&#160;computed pursuant to Exchange Act Rule 0-11</P>
</TD><TD valign=top style=width:158.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=top style=width:41.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:22.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:256.5pt><P style='font:10pt Times New Roman;margin:0'>(Set forth the amount on which the filing fee is calculated </P>
</TD><TD valign=top style=width:158.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=top style=width:41.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:22.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:256.5pt><P style='font:10pt Times New Roman;margin:0'>&#160;&#160;and state how it was determined):</P>
</TD><TD valign=top style='width:158.4pt;border-bottom:0.5pt solid #000000'><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=top style=width:41.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:22.5pt><P style='font:10pt Times New Roman;margin:0'>(4)</P>
</TD><TD valign=top style=width:256.5pt><P style='font:10pt Times New Roman;margin:0'>Proposed maximum aggregate of transaction:</P>
</TD><TD valign=top style='width:158.4pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000'><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=top style=width:41.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:22.5pt><P style='font:10pt Times New Roman;margin:0'>(5)</P>
</TD><TD valign=top style=width:256.5pt><P style='font:10pt Times New Roman;margin:0'>Total fee paid:</P>
</TD><TD valign=top style='width:158.4pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000'><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=top style=width:41.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:22.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:256.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style='width:158.4pt;border-top:0.5pt solid #000000'><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
</TABLE>
<P style='font:10pt Times New Roman;margin:0'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:0pt'>[  &nbsp;]</KBD><KBD style=margin-left:36pt></KBD>Fee paid previously with preliminary materials.&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;margin-left:36pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:-36pt'>[  &nbsp;]</KBD>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. &nbsp;Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:-36pt;margin-left:36pt'>&nbsp;</P>
<TABLE style=border-collapse:collapse><TR><TD valign=top style=width:41.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:22.5pt><P style='font:10pt Times New Roman;margin:0'>(1)</P>
</TD><TD valign=top style=width:207pt><P style='font:10pt Times New Roman;margin:0'>Amount Previously Paid:</P>
</TD><TD valign=top style='width:207.9pt;border-bottom:0.5pt solid #000000'><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=top style=width:41.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:22.5pt><P style='font:10pt Times New Roman;margin:0'>(2)</P>
</TD><TD valign=top style=width:207pt><P style='font:10pt Times New Roman;margin:0'>Form, Schedule or Registration Statement No.:</P>
</TD><TD valign=top style='width:207.9pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000'><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=top style=width:41.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:22.5pt><P style='font:10pt Times New Roman;margin:0'>(3)</P>
</TD><TD valign=top style=width:207pt><P style='font:10pt Times New Roman;margin:0'>Filing Party:</P>
</TD><TD valign=top style='width:207.9pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000'><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=top style=width:41.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:22.5pt><P style='font:10pt Times New Roman;margin:0'>(4)</P>
</TD><TD valign=top style=width:207pt><P style='font:10pt Times New Roman;margin:0'>Date Filed:</P>
</TD><TD valign=top style='width:207.9pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000'><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
</TABLE>
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</DIV>
<DIV style=margin-left:72pt;width:468pt><P style='font:12pt Arial;margin:0'><A name=_Hlk66960742 /><B><I>CEO Email to Managers &amp; Up</I></B></P>
<P style='font:10pt Arial;margin:0'>&nbsp;</P>
<P style='font:12pt Arial;margin:0'><KBD style='position:absolute;font:12pt Arial;margin-left:0pt'><FONT style=font-size:10pt><B>To: </B></FONT></KBD><KBD style=margin-left:72pt></KBD><FONT style=font-size:10pt>[Insert Relevant Employee Group; Recommend Managers and Up]</FONT>&nbsp;</P>
<P style='font:10pt Arial;margin:0'><KBD style='position:absolute;font:10pt Arial;margin-left:0pt'><B>From:</B> </KBD><KBD style=margin-left:72pt></KBD>Michelle Gass &nbsp;</P>
<P style='font:10pt Arial;margin:0'><KBD style='position:absolute;font:10pt Arial;margin-left:0pt'><B>Subject:</B> </KBD><KBD style=margin-left:72pt></KBD>Investor Activist Situation Update&nbsp;</P>
<P style='font:10pt Arial;margin:0'>&nbsp;</P>
<P style='font:9pt Arial;margin:0'><FONT style=font-size:10pt;color:#FF0000>&lt;&lt;insert Michelle Gass masthead&gt;&gt;</FONT><FONT style=font-size:10pt> </FONT></P>
<P style='font:10pt Arial;margin:0;color:#222222;background-color:#FFFFFF'>&nbsp;</P>
<P style='font:10pt Arial;margin:0;color:#222222;background-color:#FFFFFF'>Dear <FONT style=color:#FF0000>&lt;&lt;</FONT><FONT style=color:#FF0000;background-color:#FFFF00>insert associate name</FONT><FONT style=color:#FF0000>&gt;&gt;, &nbsp;</FONT></P>
<P style='font:10pt Arial;margin:0'>&nbsp;</P>
<P style='font:10pt Arial;margin:0'>I&#8217;m writing to provide an update on the situation regarding the activist investors as you may be seeing some additional press coverage. First, know that this kind of press coverage and public communication from Kohl&#8217;s and the activists are common in these types of situations. And second, be assured that we remain very confident in our company and our future. While we are working through the activist campaign, we are primarily focused on running a great business and building on our current momentum. &nbsp;</P>
<P style='font:10pt Arial;margin:0'>&nbsp;</P>
<P style='font:10pt Arial;margin:0'>As I shared in my last message, a group of activist hedge funds has recently taken an investment position in Kohl&#8217;s. They are now seeking five seats on our Board of Directors. While we remain open to new ideas from our shareholders, we do not believe the activists&#8217; proposals and their slate of directors are in the best interest of Kohl&#8217;s. As a result, we are proactively communicating with all our shareholders to share our perspective and recommendations.</P>
<P style='font:10pt Arial;margin:0'>&nbsp;</P>
<P style='font:10pt Arial;margin:0'>To support our position, today our Board is mailing a letter to our shareholders that provides further information about the activists&#8217; campaign as well as our point of view. To make sure we are reaching all our shareholders, we are also issuing a press release with the contents of the letter, which you can read <FONT style=background-color:#FFFF00>here</FONT>. &nbsp;</P>
<P style='font:10pt Arial;margin:0'>&nbsp;</P>
<P style='font:10pt Arial;margin:0'>You can expect more of these communications from us and the activists in the coming weeks. All of this is normal when a company is managing through an activist situation.</P>
<P style='font:10pt Arial;margin:0'>&nbsp;</P>
<P style='font:10pt Arial;margin:0;color:#222222'><FONT style=color:#000000>Regardless of the activists&#8217; campaign, this is an exciting time for Kohl&#8217;s. </FONT><FONT style=background-color:#FFFFFF>We have great confidence in our performance and our strategy to accelerate growth and profitability, and we are encouraged by the more than 200% appreciation in our stock price since announcing our new strategy in October 2020. It&#8217;s clear we have strong support for our strategy and future growth. </FONT></P>
<P style='font:10pt Arial;margin:0;color:#222222'>&nbsp;</P>
<P style='font:10pt Arial;margin:0;color:#222222'><FONT style=background-color:#FFFFFF>If you see additional media coverage or receive any mailings about the activist campaign, please know that we are proactively managing the situation to ensure we remain on the right track to capitalize on the many opportunities ahead. If you have questions, you can visit </FONT><FONT style='color:#0070C0;background-color:#FFFFFF;border-bottom:1px solid #0070C0'>KohlsMomentum.com</FONT><FONT style=background-color:#FFFFFF> for information from Kohl&#8217;s. If you receive any media inquiries about this matter, please direct them to Jen Johnson at Jen.Johnson@kohls.com. If you receive any questions from investors, please send them directly to Mark Rupe at Mark.Rupe@kohls.com. </FONT></P>
<P style='font:10pt Arial;margin:0'>&nbsp;</P>
<P style='font:10pt Arial;margin:0'>As always, we will update you on important developments as appropriate. In the meantime, let&#8217;s all continue to focus on our work as we execute all of the plans we have underway for 2021 and the years ahead. Thank you all for your continued hard work and dedication.</P>
<P style='font:10pt Arial;margin:0'>&nbsp;</P>
<P style='font:10pt Arial;margin:0'>Sincerely, </P>
<P style='font:10pt Arial;margin:0'>&nbsp;</P>
<P style='font:10pt Arial;margin:0;color:#FF0000'>&lt;&lt;<FONT style=background-color:#FFFF00>insert Michelle&#8217;s signature</FONT>&gt;&gt;</P>
<HR style='page-break-after:always;border:0;height:3pt;background-color:#909090;margin:8pt 0'><P style=line-height:0;margin:0></P>
<P style='font:10pt Arial;margin:0;color:#222222'>&nbsp;</P>
<P style='font:10pt Arial;margin:0;color:#222222'><FONT style=background-color:#FFFFFF><B>Required SEC Disclosure</B></FONT></P>
<P style='font:10pt Arial;margin:0'>&nbsp;</P>
<P style='font:10pt Arial;margin:0'>&nbsp;</P>
<P style='font:10pt Arial;margin:0'><B>Cautionary Statement Regarding Forward-Looking Information</B></P>
<P style='font:10pt Arial;margin:0'>This email contains &#8220;forward-looking statements&#8221; within the meaning of the Private Securities Litigation Reform Act of 1995. The Company intends forward-looking terminology such as &#8220;believes,&#8221; &#8220;expects,&#8221; &#8220;may,&#8221; &#8220;will,&#8221; &#8220;should,&#8221; &#8220;anticipates,&#8221; &#8220;strategy,&#8221; &#8220;preliminary,&#8221; &#8220;plans,&#8221; or similar expressions to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, which could cause the Company's actual results to differ materially from those anticipated by the forward-looking statements. These risks and uncertainties include, but are not limited to, our ability to execute on and realize the benefits of our strategic plan, market conditions beyond our control, including the ongoing and evolving impact of the COVID-19 pandemic, that may negatively impact our stock price vis-&#224;-vis industry analyst expectations and the risks described more fully in Item 1A in the Company's Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in the Company's filings with the SEC. Forward-looking statements relate to the date initially made, and Kohl&#8217;s undertakes no obligation to update them.</P>
<P style='font:10pt Arial;margin:0'>&nbsp;</P>
<P style='font:10pt Arial;margin:0;color:#FF0000'><I>This email was sent to all Kohl&#8217;s managers and above. </I></P>
<P style='font:10pt Arial;margin:0'>&nbsp;</P>
<P style='font:10pt Arial;margin:0'>&nbsp;</P>
<P style='font:10pt Arial;margin:0'>&nbsp;</P>
</DIV>
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