<SEC-DOCUMENT>0000892712-21-000182.txt : 20210423
<SEC-HEADER>0000892712-21-000182.hdr.sgml : 20210423
<ACCEPTANCE-DATETIME>20210423165635
ACCESSION NUMBER:		0000892712-21-000182
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20210423
DATE AS OF CHANGE:		20210423

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:		21850513

	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>kssdefa14a.htm
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<DIV style=margin-left:72pt;width:468pt><P align=center style='font:12pt Times New Roman;margin:0'><B>UNITED STATES</B></P>
<P align=center style='font:12pt Times New Roman;margin:0'><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P align=center style='font:12pt Times New Roman;margin:0'>Washington, D.C. 20549</P>
<P align=center style='font:13pt Times New Roman;margin-top:12pt;margin-bottom:0pt'><B>SCHEDULE 14A</B></P>
<P align=center style='font:10pt Times New Roman;margin-top:4pt;margin-bottom:0pt'>Proxy Statement Pursuant to Section 14(a) of</P>
<P align=center style='font:10pt Times New Roman;margin:0'>the Securities Exchange Act of 1934 (Amendment No. &nbsp;)</P>
<P align=justify style='font:10pt Times New Roman;margin-top:12pt;margin-bottom:0pt'>Filed by the Registrant&#160;<FONT style='font-family:Segoe UI Symbol'>&#9746;</FONT></P>
<P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:0pt'>Filed by a Party other than the Registrant <FONT style='font-family:Segoe UI Symbol'>&#9744;</FONT></P>
<P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:6pt'>Check the appropriate box:</P>
<TABLE style=border-collapse:collapse;width:100%><TR><TD valign=top style=width:5.24%><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:0pt'><FONT style='font-family:Segoe UI Symbol'>&#9744;</FONT></P>
</TD><TD valign=top><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:0pt'>Preliminary Proxy Statement</P>
</TD></TR>
<TR><TD valign=top style=width:5.24%><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:0pt'><FONT style='font-family:Segoe UI Symbol'>&#9744;</FONT></P>
</TD><TD valign=top><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:0pt'><B>Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</B></P>
</TD></TR>
<TR><TD valign=top style=width:5.24%><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:0pt'><FONT style='font-family:Segoe UI Symbol'>&#9744;</FONT></P>
</TD><TD valign=top><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:0pt'>Definitive Proxy Statement</P>
</TD></TR>
<TR><TD valign=top style=width:5.24%><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:0pt'><FONT style='font-family:Segoe UI Symbol'>&#9746;</FONT></P>
</TD><TD valign=top><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:0pt'>Definitive Additional Materials</P>
</TD></TR>
<TR><TD valign=top style=width:5.24%><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:0pt'><FONT style='font-family:Segoe UI Symbol'>&#9744;</FONT></P>
</TD><TD valign=top><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:0pt'>Soliciting Material under &#167;240.14a-12</P>
</TD></TR>
</TABLE>
<P align=center style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:0pt'><B>KOHL&#8217;S CORPORATION</B></P>
<P align=center style='font:10pt Times New Roman;margin:0'>(Name of Registrant as Specified In Its Charter)</P>
<P align=center style='font:10pt Times New Roman;margin:0'>&#160;</P>
<P align=center style='font:10pt Times New Roman;margin:0'>(Name of Person(s) Filing Proxy Statement, if other than the Registrant)</P>
<P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:0pt'>Payment of Filing Fee (Check the appropriate box):</P>
<TABLE style=border-collapse:collapse;width:100%><TR><TD valign=top style=width:5.24%><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:4pt'><FONT style='font-family:Segoe UI Symbol'>&#9746;</FONT></P>
</TD><TD colspan=2 valign=top><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:4pt'>No fee required.</P>
</TD></TR>
<TR><TD valign=top style=width:5.24%><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:4pt'><FONT style='font-family:Segoe UI Symbol'>&#9744;</FONT></P>
</TD><TD colspan=2 valign=top><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:4pt'>Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and&#160;0-11.</P>
</TD></TR>
<TR><TD valign=top style=width:5.24%><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:4pt'>&#160;</P>
</TD><TD valign=top style=width:5.24%><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:4pt'>(1)</P>
</TD><TD valign=top><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:4pt'>Title of each class of securities to which transaction applies: </P>
</TD></TR>
<TR><TD valign=top style=width:5.24%><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:4pt'>&#160;</P>
</TD><TD valign=top style=width:5.24%><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:4pt'>(2)</P>
</TD><TD valign=top><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:4pt'>Aggregate number of securities to which transaction applies: </P>
</TD></TR>
<TR><TD valign=top style=width:5.24%><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:4pt'>&#160;</P>
</TD><TD valign=top style=width:5.24%><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:4pt'>(3)</P>
</TD><TD valign=top><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:4pt'>Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): </P>
</TD></TR>
<TR><TD valign=top style=width:5.24%><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:4pt'>&#160;</P>
</TD><TD valign=top style=width:5.24%><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:4pt'>(4)</P>
</TD><TD valign=top><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:4pt'>Proposed maximum aggregate value of transaction: </P>
</TD></TR>
<TR><TD valign=top style=width:5.24%><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:4pt'>&#160;</P>
</TD><TD valign=top style=width:5.24%><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:4pt'>(5)</P>
</TD><TD valign=top><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:4pt'>Total fee paid: </P>
</TD></TR>
<TR><TD valign=top style=width:5.24%><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:4pt'><FONT style='font-family:Segoe UI Symbol'>&#9744;</FONT></P>
</TD><TD colspan=2 valign=top><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:4pt'>Fee paid previously with preliminary materials.</P>
</TD></TR>
<TR><TD valign=top style=width:5.24%><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:4pt'><FONT style='font-family:Segoe UI Symbol'>&#9744;</FONT></P>
</TD><TD colspan=2 valign=top><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:4pt'>Check box if any part of the fee is offset as provided by Exchange Act Rule&#160;0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.</P>
</TD></TR>
<TR><TD valign=top style=width:5.24%><P align=justify style='font:10pt Times New Roman;margin:0'>&#160;</P>
</TD><TD valign=top style=width:5.24%><P align=justify style='font:10pt Times New Roman;margin:0'>(1)</P>
</TD><TD valign=top><P align=justify style='font:10pt Times New Roman;margin:0'>Amount Previously Paid: </P>
</TD></TR>
<TR><TD valign=top style=width:5.24%><P align=justify style='font:10pt Times New Roman;margin:0'>&#160;</P>
</TD><TD valign=top style=width:5.24%><P align=justify style='font:10pt Times New Roman;margin:0'>(2)</P>
</TD><TD valign=top><P align=justify style='font:10pt Times New Roman;margin:0'>Form, Schedule or Registration Statement No.: </P>
</TD></TR>
<TR><TD valign=top style=width:5.24%><P align=justify style='font:10pt Times New Roman;margin:0'>&#160;</P>
</TD><TD valign=top style=width:5.24%><P align=justify style='font:10pt Times New Roman;margin:0'>(3)</P>
</TD><TD valign=top><P align=justify style='font:10pt Times New Roman;margin:0'>Filing Party: </P>
</TD></TR>
<TR><TD valign=top style=width:5.24%><P align=justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:0pt'>&#160;</P>
</TD><TD valign=top style=width:5.24%><P align=justify style='font:10pt Times New Roman;margin:0'>(4)</P>
</TD><TD valign=top><P align=justify style='font:10pt Times New Roman;margin:0'>Date Filed: </P>
</TD></TR>
</TABLE>
<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 align=center style='font:11pt Times New Roman;margin:0'><B>2021 ANNUAL MEETING OF SHAREHOLDERS</B></P>
<P align=center style='font:11pt Times New Roman;margin:0'><B>OF </B></P>
<P align=center style='font:11pt Times New Roman;margin:0'><B>KOHL&#8217;S CORPORATION</B></P>
<P align=center style='font:11pt Times New Roman;margin:0'><B>_____________________________________</B></P>
<P align=center style='font:11pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:11pt Times New Roman;margin:0'><B>SUPPLEMENT DATED APRIL 23, 2021 TO THE PROXY STATEMENT</B></P>
<P align=center style='font:11pt Times New Roman;margin:0'><B>OF </B></P>
<P align=center style='font:11pt Times New Roman;margin:0'><B>KOHL&#8217;S CORPORATION</B></P>
<P align=center style='font:11pt Times New Roman;margin:0'><B>DATED MARCH 19, 2021</B></P>
<P style='font:11pt Times New Roman;margin-top:12pt;margin-bottom:12pt'>Dear Shareholders of Kohl&#8217;s Corporation:</P>
<P style='font:11pt Times New Roman;margin-top:12pt;margin-bottom:12pt;text-indent:36pt'>This supplement (the &#8220;Supplement&#8221;) supplements and amends the proxy statement dated March 19, 2021 (the &#8220;Definitive Proxy Statement&#8221;) of Kohl&#8217;s Corporation (the &#8220;Company&#8221;) furnished to the holders of the Company&#8217;s common stock in connection with the solicitation of proxies on behalf of the Company&#8217;s Board of Directors (the &#8220;Board&#8221;) for use at the 2021 Annual Meeting of Shareholders (the &#8220;2021 Annual Meeting&#8221;) to be held on May 12, 2021 at 8:00 a.m. Central Time exclusively online via a live interactive webcast on the internet. The record date for the determination of the holders of Common Stock who are entitled to notice and to vote at the 2021 Annual Meeting is March 24, 2021, which is the same record date specified in the Proxy Statement. Except as described in this Supplement, the information provided in the Proxy Statement continues to apply and should be considered in voting your shares. To the extent that information in this Supplement differs from or updates information contained in the Proxy Statement, the information in this Supplement is more current and supersedes the information in the Proxy Statement.</P>
<P style='font:11pt Times New Roman;margin-top:12pt;margin-bottom:12pt;text-indent:36pt'>The <B>BLUE</B> proxy card enclosed with the Definitive Proxy Statement is solicited on behalf of the Board of the Company for use at the 2021 Annual Meeting, to be held virtually on May 12, 2021 at 8:00 a.m. Central Time exclusively online via a live interactive webcast on the internet. </P>
<P style='font:11pt Times New Roman;margin-top:12pt;margin-bottom:12pt;text-indent:36pt'>On April 14, 2014, the Company entered into a settlement agreement (the &#8220;Settlement Agreement&#8221;) with Macellum Advisors GP, LLC and certain of its affiliates as set forth therein, Ancora Holdings, Inc. and certain of its affiliates as set forth therein, Legion Partners Asset Management, LLC and certain of its affiliates as set forth therein and 4010 Capital, LLC and certain of its affiliates as set forth therein (collectively, the &#8220;Investor Group&#8221;) regarding the previously pending proxy contest pertaining to the election of directors to the Company&#8217;s Board of Directors (the &#8220;Board&#8221;) at the 2021 Annual Meeting. </P>
<P style='font:11pt Times New Roman;margin-top:12pt;margin-bottom:12pt;text-indent:36pt'>Pursuant to the terms of the Settlement Agreement, two new independent directors, Margaret Jenkins and Thomas Kingsbury, will join the Board as promptly as practical after the completion of the 2021 Annual Meeting of Shareholders. An additional independent director identified by the Company and agreed to by the Investor Group, Christine Day, will join the Board at the same time. The Settlement Agreement further provides that between the effective date of the Settlement Agreement and their appointment as directors, Ms. Jenkins and Mr. Kingsbury shall be observers to the Board with the right to attend and reasonably participate, but not vote, at all meetings of the Board. Also as part of the Settlement Agreement, the Board&#8217;s existing ad hoc Finance Committee will become a standing committee of the Board (the &#8220;Committee&#8221;). The purpose of the Committee will include assisting the Board in its oversight of capital allocation decisions made by the Company. Additionally, the Board approved an amendment to the Company&#8217;s existing share repurchase program approved by the Board in March 2006 to permit the continued repurchase of common stock in an amount up to an aggregate purchase price of $2,000,000,000. </P>
<P style='font:11pt Times New Roman;margin-top:12pt;margin-bottom:12pt;text-indent:36pt'>Additionally, current director Steven Burd notified the Company that he intends to retire from the Board no later than August 31, 2021 and current director Frank Sica notified the Company that he intends to retire and not stand for re-election to the Board at the 2022 Annual Meeting of Shareholders. Mr. </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:11pt Times New Roman;margin-top:12pt;margin-bottom:12pt'>Burd&#8217;s and Mr. Sica&#8217;s decisions were not due to any disagreements with the Company on any matter relating to the Company&#8217;s operations, policies or practices.</P>
<P style='font:11pt Times New Roman;margin-top:12pt;margin-bottom:12pt;text-indent:36pt'>Under the Settlement Agreement, the Investor Group also agreed to abide by certain voting commitments, customary standstill obligations, and mutual non-disparagement provisions until 30 days prior to the deadline for the submission of shareholder nominations of directors for the Company&#8217;s 2022 Annual Meeting of Shareholders, or such later date as may be agreed by both the Company and the Investor Group.</P>
<P style='font:11pt Times New Roman;margin-top:12pt;margin-bottom:12pt;text-indent:36pt'>The Investor Group will not be submitting <B>WHITE</B> Proxy Cards for tabulation for the 2021 Annual Meeting of Shareholders and encourages shareholders to submit a <B>BLUE</B> proxy card in support of the Board&#8217;s recommendations on each proposal. All votes previously submitted on <B>WHITE</B> proxy cards (whether with respect to withdrawn director nominees or other agenda matters) will be disregarded in their entirety. </P>
<P style='font:11pt Times New Roman;margin-top:12pt;margin-bottom:12pt;text-indent:36pt'>The Board unanimously recommends that you vote on the <B>BLUE</B> proxy card <B>FOR</B> the election of each of the Board&#8217;s nominees, <B>FOR</B> approval of the compensation of our named executive officers, <B>FOR </B>ratification of the appointment of our independent registered public accounting firm and <B>AGAINST</B> the shareholder proposal regarding the right to act by written consent. If you have previously submitted a <B>WHITE</B> proxy card sent to you by the Investor Group, you can change your vote by using the <B>BLUE</B> proxy card enclosed with the Definitive Proxy Statement to vote for each of the Board&#8217;s nominees and on each of the other proposals to be considered at the 2021 Annual Meeting as recommended above.</P>
<P align=center style='font:11pt Times New Roman;margin-top:12pt;margin-bottom:12pt;text-indent:36pt'><B>YOUR VOTE IS IMPORTANT</B></P>
<P style='font:11pt Times New Roman;margin-top:12pt;margin-bottom:12pt;text-indent:36pt'><B>Whether or not you plan to attend the 2021 Annual Meeting, you are urged to sign, date and promptly return the BLUE proxy card previously delivered to you. THE WHITE PROXY CARD IS NO LONGER VALID AND WILL NOT BE VOTED AT THE 2021 ANNUAL MEETING. </B></P>
<P style='font:11pt Times New Roman;margin-top:12pt;margin-bottom:12pt;text-indent:36pt'>For more information on the items of business to be considered at and how to attend the 2021 Annual Meeting virtually, please see the Definitive Proxy Statement.</P>
<P style='font:11pt Times New Roman;margin-top:12pt;margin-bottom:12pt'>April 23, 2021</P>
</DIV>
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