What changed in this filing

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Item 9A. Controls and Procedures

2026-03-10 compared with 2025-03-11 · 1550 added, 811 removed, 1323 unchanged (64% of the section changed)

1 unchanged sentence

Evaluation of Disclosure Controls and Procedures

O ur Chief Executive Officer and Chief

Financial Officer have reviewed and evaluated the effectiveness of our

disclosure controls and procedures (as defined in the Securities Exchange Act

of 1934 Rule 13a-15(e)) as of the end of the period covered by this annual

report on Form 10-K (the “Evaluation Date”).

Our Chief Executive Officer and Chief Financial Officer

have reviewed and evaluated the effectiveness of our disclosure controls and

procedures (as defined in the Securities Exchange Act of 1934 Rules 13a-15(e)

and 15d-15(e)) as of the end of the period covered by this annual report on

Form 10-K (the “Evaluation Date”).

In designing and evaluating the disclosure

controls and procedures, management recognized that any controls and

procedures, no matter how well designed and operated, could provide only

reasonable assurance of achieving the desired control objectives, and

management necessarily was required to apply its judgment in evaluating the

cost-benefit relationship of possible controls and procedures.

on this evaluation, the Company's Chief Executive Officer and Chief Financial

Officer concluded that, as a result of the material weaknesses in internal

control over financial reporting described below in “Management’s Annual Report

on Internal Control over Financial Reporting”, the Company’s disclosure

controls and procedures were not effective as of December 31, 2024.

procedures, no matter how well designed and operated, could provide only reasonable

assurance of achieving the desired control objectives, and management

necessarily was required to apply its judgment in evaluating the cost-benefit

relationship of possible controls and procedures.

Based on this evaluation, the

Company's Chief Executive Officer and Chief Financial Officer concluded that,

as a result of the material weakness in internal control over financial

reporting described below in “Management’s Annual Report on Internal Control

over Financial Reporting”, the Company’s disclosure controls and procedures

were not effective as of December 31, 2025.

Management’s Annual Report on Internal Control over Financial Reporting

The management of Interparfums, Inc.

responsible for establishing and maintaining adequate internal control over

financial reporting, as defined in Rule 13(a)-15(f) under the Securities

Exchange Act of 1934, to provide reasonable assurance regarding the reliability

of our financial reporting and the preparation of financial statements for

external purposes in accordance with U.S.

generally accepted accounting

principles (“GAAP”).

Because of its inherent limitations, internal

control over financial reporting may not prevent or detect misstatements.

Management is responsible for establishing and

maintaining adequate internal control over financial reporting, as defined in

Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of

1934, to provide reasonable assurance regarding the reliability of our

financial reporting and the preparation of financial statements for external

purposes in accordance with U.S.

generally accepted accounting principles

Because of its inherent limitations, internal control

over financial reporting may not prevent or detect misstatements.

Additionally,

projections of any evaluation of effectiveness to future periods are subject to

the risk that controls may become inadequate because of changes in conditions,

or that the degree of compliance with the policies or procedures may

A material weakness is a deficiency, or combination of

deficiencies, in internal control over financial reporting, such that there is

a reasonable possibility that a material misstatement of the Company’s annual

or interim financial statements will not be prevented or detected on a timely

the participation of the Chief Executive Officer and the Chief Financial

Officer, our management conducted an evaluation of the effectiveness of our

internal control over financial reporting based on the framework and criteria

established in Internal Control –

Integrated Framework (2013) , issued by the Committee of Sponsoring

Organizations of the Treadway Commission.

Based on this evaluation, our

management has concluded that our internal control over financial reporting was

not effective as of December 31, 2024, due to the material weaknesses

identified below.

The Company does not have an annual

risk assessment process sufficiently designed to identify the risks that could

impact the Company’s consolidated financial statements.

This includes processes to review any

previously-recognized risks and identify any potential new risks that could

have a material impact on the Company.

As a result, the Company could not

properly assess if the key controls in place were sufficient to mitigate the risks

of material misstatement and the Company could not adequately provide oversight

over the testing of management’s internal control over financial reporting.

The Company did not design and

maintain an effective control environment commensurate with its financial

reporting requirements.

Specifically, the Company did not maintain sufficient

documentation to evidence that controls have operated as designed with respect

to key financial statement accounts and assertions.

T he Company did not design and

maintain effective information technology general controls related to user

access at our Interparfums SA subsidiary, which limited management’s ability to

rely on technology-dependent controls relevant to the preparation of the

Company’s consolidated financial statements.

Despite the finding of these material

weaknesses, we have concluded that our consolidated financial statements and

related notes thereto included in this Annual Report on Form 10-K fairly

present in all material respects the financial condition, results of operations

and cash flows of the Company as of, and for, the periods presented.

Our independent auditor, Forvis Mazars, LLP,

a registered public accounting firm, has issued its report on its audit of our

internal control over financial reporting.

Forvis Mazars, LLP’s attestation

report contains an adverse opinion on the effectiveness of the Company’s

or that compliance with policies or procedures may deteriorate.

M anagement, with the participation of the Chief Executive

Officer and Chief Financial Officer, evaluated the effectiveness of the

Company’s internal control over financial reporting as of December 31, 2025,

based on the criteria set forth in Internal Control — Integrated Framework

(2013) issued by the Committee of Sponsoring Organizations of the Treadway

Commission (COSO).

Based on this evaluation, management determined that we did

not maintain effective internal control over financial reporting as of December

31, 2025, as the Company has not remediated the material weakness described

A material weakness is a deficiency, or combination of deficiencies, in

internal control over financial reporting such that there is a reasonable

possibility that a material misstatement of the Company’s annual or interim

financial statements will not be prevented or detected on a timely basis.

Previously Reported Material Weaknesses

A s previously disclosed in Part II, Item 9A of our Annual

Report on Form 10-K for the fiscal year ended December 31, 2024, management

identified the following material weakness in internal control over financial

Company does not have an annual risk assessment process sufficiently designed

to identify the risks that could impact on the Company’s consolidated financial

This includes processes to review any previously recognized risks

and identify any potential new risks that could have a material impact on the

As a result, the Company could not properly assess if the key controls

in place were sufficient to mitigate the risks of material misstatement and the

Company could not adequately provide oversight over the testing of management’s

internal control over financial reporting.

This report appears on page F-2.

Remediation Plan

We are committed to maintaining a strong

internal control environment and implementing measures designed to ensure that

control deficiencies contributing to the material weaknesses are remediated as

soon as practicable.

The Company plans to engage a third-party firm to assist

us with designing and implementing a risk assessment process and establish

processes and controls to support an effective control environment.

Specifically,

we will (i) design and implement effective risk assessment procedures and

monitoring activities, (ii) review our current processes, procedures, and

systems and assess the design of controls

to ensure the key controls address the relevant risks identified by management, (iii) enhance and

implement protocols to retain sufficient documentary evidence of operating

effectiveness of such controls, and (iv) implement enhanced process controls

around user access to information technology systems, including confirming and

monitoring appropriate user access levels to applications, programs and data.

These actions are intended to enable the

Company to more effectively monitor the effectiveness of our internal control over financial reporting.

We believe that these actions, collectively,

will remediate the material weaknesses identified.

However, our material weaknesses will not be

considered remediated until the controls operate for a sufficient period of

time and management has concluded, through testing, that the related controls

are operating effectively.

We will continue to monitor the design and

effectiveness of these and other processes, procedures, and controls and will

make any further changes management deems appropriate.

In response to this material weakness, the following remedial actions have been implemented by the Company:

hired an experienced Chief Audit Executive to improve our internal control over financial reporting capabilities.

engaged a third party firm to assist us with

designing and implementing a risk assessment process and establish processes

and controls to support an effective control environment.

a global entity wide risk assessment process.

a risk assessment over the IT systems used as part of financial reporting and

business processes, including various layers of technology.

and implemented risk assessment procedures and monitoring activities;

additional review and reconciliation controls to support the period end

financial reporting process.

Additionally, we are completing design enhancements to certain

process-level controls, including controls over the approval of pricing for our

products and implementing

appropriate segregation of duties for manual journal entries.

These enhancements include

system-supported improvements designed to strengthen our ability to identify,

assess, and monitor risks of material misstatement .

While we have made significant

progress towards the remediation of the material weakness noted above,

management has concluded that the material weakness as of December 31, 2024 was not fully remediated

as of December 31, 2025.

The remaining material weakness will not be considered

remediated until the applicable controls operate for a sufficient period of

time and management has concluded, through testing, that these controls are

operating effectively.

Despite the finding of this material weakness, we have concluded that our consolidated financial statements and related notes thereto included in this Annual Report on Form 10-K fairly present in all material respects the financial condition, results of operations and cash flows of the Company as of , and for, the periods presented.

Also as previously disclosed in Part II-Item 9A "Controls

and Procedures" in our Annual Report on Form 10-K for the year ended

December 31, 2024, we identified a material weakness in our internal control

over financial reporting related to the following:

Company did not design and maintain an effective control environment

commensurate with its financial reporting requirements.

Specifically, the

Company did not maintain sufficient documentation to evidence that controls

have operated as designed with respect to key financial statement accounts and

Company did not design and maintain effective information technology general

controls related to user access at our Interparfums SA subsidiary, which

limited management’s ability to rely on technology-dependent controls relevant

to the preparation of the Company’s consolidated financial statements.

During fiscal 2025,

management implemented remedial actions to address these material

These actions included strengthening documentation protocols to

ensure that sufficient evidence of control execution is retained, enhancing

management review procedures over key financial reporting controls, and

providing training to control owners regarding internal control documentation

and execution requirements.

With respect to the Information Technology General Controls ("ITGC") material weakness related to user access, the Company implemented

improvements to its access management processes, including removing

inappropriate privileged access rights (including SAP‑ALL access), implementing

role‑based access controls designed to enforce appropriate segregation of

duties, and establishing periodic user access review procedures to monitor

access to financial reporting systems.

The Company also implemented monitoring

controls designed to identify and remediate inappropriate access on a timely

We ha ve completed our testing of both the design and

operating effectiveness of these controls and have determined that these controls

have been appropriately designed and implemented, and have operated effectively

for a sufficient period of time for management to conclude, that these two previously identified material weaknesses have been remediated as of December

Changes in Internal Control Over Financial Reporting

Except as described above, there has been no

change in our internal control over financial reporting (as defined in Rule

13a-15(f) of the Securities Exchange Act of 1934) that occurred during the most

recent fiscal quarter that has materially affected, or is reasonably likely to

materially affect, the Company’s internal control over financial reporting.

Except as described above, there were no significant

changes in our internal control over financial reporting (as defined in Rule

13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934, as amended), that occurred during the fiscal quarter of the year ended December 31, 2025

that have materially affected or are reasonably likely to materially affect the

Company’s internal control over financial reporting.

Other Information.

13 unchanged sentences

Director and Executive Vice President of Interparfums SA

Herve Bouillonnec

Director and Global Chief Commercial Officer for Interparfums, USA LLC

François Heilbronn

3 unchanged sentences

Gerard Kappauf

Our directors will serve until the next annual meeting of stockholders and thereafter until their successors shall have been elected and qualified.

Jean Madar and Philippe Benacin have a verbal agreement or understanding to vote their shares and the shares of their respective holding companies in a like manner.

Patrick Bousquet-Chavanne

Our directors will serve until the next annual meeting

of stockholders and thereafter until their successors shall have been elected

and qualified.

Jean Madar and Philippe Benacin have a verbal agreement

or understanding to vote their shares and the shares of their respective

holding companies in a like manner.

With the exception of Mr.

Benacin, the officers are elected annually by the directors and serve at the discretion of the Board of Directors.

There are no family relationships between executive officers or directors of our Company.

Benacin, the officers are

elected annually by the directors and serve at the discretion of the Board of Directors.

There are no family relationships between executive officers or

directors of our Company.

Board of Directors

Our Board of Directors has the responsibility for establishing broad corporate policies and for the overall performance of our Company.

Although certain directors are not involved in day-to-day operating details, members of the Board of Directors are kept informed of our business by various reports and documents made available to them.

Our Board of Directors held 23 meetings (or executed consents in lieu thereof), including meetings of committees of the full Board of Directors during 2024, and all of the directors attended at least 75% of the meetings (or executed consents in lieu thereof) of the full Board of Directors and committees of which they were a member.

Our Board of Directors presently consists of nine (9) directors.

We have adopted a Code of Conduct that applies to our principal executive officer, principal financial officer, principal accounting officer or controller, as well as other persons performing similar functions and all employees, applicable, and we agree to provide to any person without charge, upon request, a copy of our Code of Conduct.

Any person who requests a copy of our Code of Conduct should provide their name and address in writing to:

Our Board of Directors has the responsibility for

establishing broad corporate policies and for the overall performance of our

Although certain directors are not involved in day-to-day operating

details, members of the Board of Directors are kept informed of our business by

various reports and documents made available to them.

Our Board of Directors

held seventeen (17) meetings (or executed consents in lieu thereof), including meetings of

committees of the full Board of Directors during 2025, and all of the directors

attended at least 75% of the meetings (or executed consents in lieu thereof) of

the full Board of Directors and committees of which they were a member.

Our Board of Directors presently consists of eleven (11) directors.

We have adopted a Code of Conduct that applies to our

principal executive officer, principal financial officer, principal accounting

officer or controller, as well as other persons performing similar functions

and all employees, applicable, and we agree to provide to any person without

charge, upon request, a copy of our Code of Conduct.

Any person who requests a

copy of our Code of Conduct should provide their name and address in writing

Interparfums, Inc., 551 Fifth Avenue, New York, NY 10176, Att.:

Shareholder Relations.

In addition, our Code of Conduct is also maintained on our website, at www.interparfumsinc.com.

In addition, our Code of Conduct is also maintained on our website,

at www.interparfumsinc.com.

During 2025 , our Board of Directors had the following standing committees:

Audit Committee – The Audit Committee has the sole authority and is directly responsible for, the appointment, compensation and oversight of the work of the independent accountants employed by our Company which prepare or issue audit reports for our company.

During 2024, this committee consisted of Messrs.

Francois Heilbronn, the Chairman, and Robert Bensoussan, and Ms.

Audit Committee – The Audit Committee has the

sole authority and is directly responsible for, the appointment, compensation

and oversight of the work of the independent accountants employed by our

Company which prepare or issue audit reports for our Company.

During 2025, this

committee consisted of Messrs.

Francois Heilbronn, the Chairman, and Robert

Bensoussan, and Ms.

Gabai-Pinsky.

The charter of the Audit Committee is posted on our Company’s website.

The Company does not have an “audit committee financial expert” within the definition of the ap plicable Securities and Exchange Commission rules.

Finding qualified nominees to serve as a director of a public company without the comparable financial resources of other larger, more established companies has been challenging.

In addition, despite the applicable Securities and Exchange Commission rule which states that being named as the audit committee financial expert does not impose any greater duty, obligation or liability, our company has been met with resistance from both present and former directors to being named as such, primarily due to potential additional personal liability.

However, as the result of the background, education and experience of the members of the Audit Committee, our Board of Directors believes that such committee members are fully qualified to fulfill their obligations as members of the Audit Committee.

charter of the Audit Committee is posted on our Company’s website.

Company does not have an “audit committee financial expert” within the

definition of the ap plicable Securities and Exchange Commission rules.

qualified nominees to serve as a director of a public company without the

comparable financial resources of other larger, more established companies has

been challenging.

In addition, despite the applicable Securities and Exchange

Commission rule which states that being named as the audit committee financial

expert does not impose any greater duty, obligation or liability, our Company

has been met with resistance from both present and former directors to being

named as such, primarily due to potential additional personal liability.

However, as the result of the background, education and experience of the

members of the Audit Committee, our Board of Directors believes that such

committee members are fully qualified to fulfill their obligations as members

of the Audit Committee.

The Chair of the Audit Committee, Mr.

François Heilbronn, is a graduate of Harvard Business School with a Master of Business Administration degree and is currently the managing partner of the consulting firm of M.M.

Friedrich, Heilbronn & Fiszer which is specialized in busines s strategy and complex financial operations and investments.

Executive Compensation and Stock Option Committee – The Executive Compensation and Stock Option Committee oversees the compensation of our Company’s executives and administers our company’s stock option plans.

Heilbronn, is a graduate of Harvard Business School with a Master of Business

Administration degree and is currently the managing partner of the consulting

Friedrich, Heilbronn & Fiszer which is specialized in busines s

strategy and complex financial operations and investments.

Executive Compensation and Stock Option

Committee – The Executive Compensation and Stock Option Committee oversees the

compensation of our Company’s executives and administers our Company’s stock

option plans.

During 2025, this committee consisted of Messrs.

Francois Heilbronn, the Chairman, and Robert Bensoussan, and Ms.

Heilbronn, the Chairman, and Robert Bensoussan, and Ms.

Gabai-Pinsky.

The charter of the Executive Compensation and Stock Option Committee is posted on our Company’s website.

Nominating Committee – During 2024, this committee consisted of Messrs.

Francois Heilbronn, the Chairman, and Robert Bensoussan, and Ms.

charter of the Executive Compensation and Stock Option Committee as amended as of the date of this report is posted on

our Company’s website.

Nominating Committee – During 2025, this

committee consisted of Messrs.

Francois Heilbronn, the Chairman, and Robert

Bensoussan, and Ms.

Gabai-Pinsky.

The purpose of the Nominating Committee is to determine and recommend qualified persons to the Board of Directors who will be put forth as management’s slate of directors for vote of the Corporation’s stockholders, as well as to fill vacancies in the Board of Directors.

The charter of the Nominating Committee is posted on our Company’s website.

We have adopted a board diversity policy, which was revised in early 2024.

This policy provides that the selection of candidates for appointment to our board will be based on an overriding emphasis on merit, but the Nominating Committee will seek to fill board vacancies by considering candidates that bring a diversity of background and industry or related expertise to our board.

The Nominating Committee is to consider an appropriate level of diversity having regard for factors such as skills, business and other experience, education, gender, age, ethnicity and geographic location.

A copy of the board diversity policy is posted on our Company’s website.

Of the nine (9) board of directors of our Company, we presently have one (1) member who self-identifies as a female and white, and one (1) male member who identifies as Hispanic and white (two or more races or ethnicities).

The purpose of the Nominating Committee is to

determine and recommend qualified persons to the Board of Directors who will be

put forth as management’s slate of directors for vote of the Corporation’s

stockholders, as well as to fill vacancies in the Board of Directors.

charter of the Nominating Committee as amended as of the date of this report is posted on our Company’s website.

We have adopted a board diversity policy, which was

revised in early 2024 and in 2025.

This policy provides that the selection of candidates

for appointment to our board will be based on an overriding emphasis on merit,

but the Nominating Committee will seek to fill board vacancies by considering

candidates that bring a diversity of background and industry or related

expertise to our board.

The Nominating Committee is to consider an appropriate

level of diversity having regard for factors such as skills, business and other

experience, education, gender, age, ethnicity and geographic location.

of the board diversity policy as amended as of the date of this report is posted on our Company’s website.

Of the eleven (11) board of directors of our Company, we presently

have one (1) member who self-identifies as a female and white, and one (1) male

member who identifies as Hispanic and white (two or more races or ethnicities).

Business Experience

The following sets forth biographical information as to the business experience of each executive officer and director of our Company for at least the past five years.

Jean Madar, age 64, a Director, has been the Chairman of the Board since our Company’s inception, and is a co-founder of our Company with Mr.

The following sets forth biographical information as

to the business experience of each executive officer and director of our

Company for at least the past five years.

Jean Madar, age 65, a Director, has been the Chairman

of the Board since our Company’s inception, and is a co-founder of our Company

Philippe Benacin.

From inception until December 1993, he was the President of our Company;

in January 1994, he became Director General of Interparfums SA, our Company’s subsidiary;

and in January 1997, he became Chief Executive Officer of our Company.

Madar was previously the managing director of Interparfums SA, from September 1983 until June 1985.

At such subsidiary, he had the responsibility of overseeing the marketing operations of its foreign distribution, including market research analysis and actual marketing campaigns.

Madar graduated from The French University for Economic and Commercial Sciences (ESSEC), the prestigious French business school, in 1983.

From inception until December 1993, he was the

President of our Company;

in January 1994, he became Director General of

Interparfums SA, our Company’s subsidiary;

and in January 1997, he became Chief

Executive Officer of our Company.

Madar was previously the managing

director of Interparfums SA, from September 1983 until June 1985.

subsidiary, he had the responsibility of overseeing the marketing operations of

its foreign distribution, including market research analysis and actual

marketing campaigns.

Madar graduated from The French University for Economic

and Commercial Sciences (ESSEC), the prestigious French business school, in

We believe that Mr.

Madar’s skills in guiding, leading and determining the strategic direction of our company since its inception together with Mr.

Benacin, in addition to his contacts in the fragrance and cosmetic industry, render him qualified to serve as a member of our Board of Directors.

Madar’s skills in guiding, leading and determining

the strategic direction of our Company since its inception together with Mr.

Benacin, in addition to his contacts in the fragrance and cosmetic industry,

render him qualified to serve as a member of our Board of Directors.

Philippe Benacin

Benacin, age 66, a Director, is President of our Company and the Chief Executive Officer of Interparfums SA, has been the Vice Chairman of the Board since September 1991, and is a co-founder of our Company with Mr.

He was elected the Executive Vice President in September 1991, Senior Vice President in April 1993, and President of the Company in January 1994.

In addition, he has been the President of our Company and Chief Executive Officer of Interparfums SA for more than the past five years.

Benacin graduated from The French University for Economic and Commercial Sciences (ESSEC), the prestigious French business school, in 1983.

Benacin, age 67, a Director, is President of our

Company and the Chief Executive Officer of Interparfums SA, has been the Vice

Chairman of the Board since September 1991, and is a co-founder of our Company

He was elected the Executive Vice President in September 1991,

Senior Vice President in April 1993, and President of the Company in January

In addition, he has been the President of our Company and Chief Executive

Officer of Interparfums SA for more than the past five years.

graduated from The French University for Economic and Commercial Sciences

(ESSEC), the prestigious French business school, in 1983.

In June 2014 Mr.

Benacin was elected as a member of the Supervisory Board of Vivendi, and Chairman of its Corporate Governance, Nominations and Remuneration Committee.

Benacin was elected as a member of the Supervisory Board of Vivendi, and

Chairman of its Corporate Governance, Nominations and Remuneration Committee.

We believe that Mr.

Benacin’s skills in guiding, leading and determining the strategic direction of our company since its inception together with Mr.

Madar, in addition to his contacts in the fragrance and cosmetic industry, render him qualified to serve as a member of our Board of Directors.

Michel Atwood

Atwood, age 55, became our Chief Financial Officer on September 6, 2022, succeeding Mr.

Russell Greenberg, the former Chief Financial Officer, who retired on that same date.

Atwood was first elected to our Board of Directors at the 2022 Annual Meeting held in September 2022.

From September 2018 through March 2022 while at Estée Lauder, Mr.

Atwood had strategic oversight for the fragrance category across that company and operational accountability for several of its fragrance brands.

He also had senior level merger and acquisition (“M&A”) duties, including acquisition integration and brand divestitures/discontinuations.

Over his nearly four years at Estée Lauder, he also drove cross-brand synergies across research and development and supply chain for the fragrance category.

From February 2017 to August 2018, he was an independent consultant as an M&A advisor on multiple fragrance license acquisitions and also acted as a private investor.

Benacin’s skills in guiding, leading and determining the

strategic direction of our Company since its inception together with Mr.

in addition to his contacts in the fragrance and cosmetic industry, render him

qualified to serve as a member of our Board of Directors.

Atwood, age 56, became our Chief Financial Officer

on September 6, 2022, and was first elected

to our Board of Directors at the 2022 Annual Meeting held in September 2022.

From September 2018 through March 2022 while at Estée

Atwood had strategic oversight for the fragrance category across

that company and operational accountability for several of its fragrance

He also had senior level merger and acquisition (“M&A”) duties,

including acquisition integration and brand divestitures/discontinuations.

his nearly four years at Estée Lauder, he also drove cross-brand synergies

across research and development and supply chain for the fragrance category.

From February 2017 to August 2018, he was an independent consultant as an

M&A advisor on multiple fragrance license acquisitions and also acted as a

private investor.

From 1995 to 2017, Mr.

Atwood has held several executive positions at Procter & Gamble (“P&G”) in France, Switzerland, Italy and Germany.

His final title at P&G was Divisional CFO of Global Prestige Fragrances, leading a 90 member team, and ultimately spearheading the divestiture of that division to Coty.

Earlier he was CFO Global Markets – Prestige Fragrances, a business generating over $2 billion in sales, where he headed a globally dispersed team of 60 people supporting the go-to-market organization (affiliates, Travel Retail and distributors) of the Prestige Division.

Before that, he was Global Prestige Director of Strategic Planning, Licensing and Acquisition shaping and executing the overall business direction and licensing and acquisition strategy of P&G’s Global Fragrance and Premium skin and cosmetics businesses.

Michel Atwood holds a master’s degree in software engineering from the Institut National des Sciences Appliquées of Lyon, and a master’s in international finance from HEC Paris, the prestigious French business school.

He also earned the designation of Certified Management Accountant from the Institute of Management Accountants.

He has a truly international background, working/living in France, Switzerland, the U.S., Canada, Turkey and Italy.

Atwood has held several

executive positions at Procter & Gamble (“P&G”) in France, Switzerland,

Italy and Germany.

His final title at P&G was Divisional CFO of Global

Prestige Fragrances, leading a 90 member team, and ultimately spearheading the

divestiture of that division to Coty.

Earlier he was CFO Global Markets –

Prestige Fragrances, a business generating over $2 billion in sales, where he

headed a globally dispersed team of 60 people supporting the go-to-market organization

(affiliates, Travel Retail and distributors) of the Prestige Division.

that, he was Global Prestige Director of Strategic Planning, Licensing and

Acquisition shaping and executing the overall business direction and licensing

and acquisition strategy of P&G’s Global Fragrance and Premium skin and

cosmetics businesses.

Michel Atwood holds a master’s degree in software

engineering from the Institut National des Sciences Appliquées of Lyon, and a

master’s in international finance from HEC Paris, the prestigious French

business school.

He also earned the designation of Certified Management

Accountant from the Institute of Management Accountants.

He has a truly

international background, working/living in France, Switzerland, the U.S.,

Canada, Turkey and Italy.

We believe that Mr.

Atwood’s skills and experience in accounting, international tax, mergers and acquisitions, as well as his knowledge of the fragrance industry, render him qualified to serve as a member of our Board of Directors.

Philippe Santi

Philippe Santi, age 63, and a Director since December 1999, is the Executive Vice President of Interparfums SA.

Santi, who is a Certified Accountant and Statutory Auditor in France, was the Chief Financial Officer of Interparfums SA beginning in February 1995 until November 2023.

Atwood’s skills and experience in

accounting, international tax, mergers and acquisitions, as well as his

knowledge of the fragrance industry, render him qualified to serve as a member

of our Board of Directors.

Philippe Santi, age 64, and a Director since December

1999, is the Executive Vice President of Interparfums SA.

Santi, who is a

Certified Accountant and Statutory Auditor in France, was the Chief Financial

Officer of Interparfums SA beginning in February 1995 until November 2023.

Prior to February 1995, Mr.

Santi was the Chief Financial Officer for Stryker France and an Audit Manager for Ernst and Young.

Santi was the Chief Financial Officer for Stryker

France and an Audit Manager for Ernst and Young.

We believe that Mr.

Santi’s skills in accounting and tax, as well as his knowledge of the fragrance industry and our Company’s European based operations, render him qualified to serve as a member of our Board of Directors.

Francois Heilbronn

Heilbronn, age 64, a Director since 1988, an independent director and Chairman of the Audit Committee, Nominating Committee and the Executive Compensation and Stock Option Committee, is a graduate of Harvard Business School with a Master of Business Administration degree and is currently the managing partner of the consulting firm of M.M.

skills in accounting and tax, as well as his knowledge of the fragrance

industry and our Company’s European based operations, render him qualified to

serve as a member of our Board of Directors.

Heilbronn, age 65, a Director since 1988, an independent director and Chairman of

the Audit Committee, Nominating Committee and the Executive Compensation and

Stock Option Committee, is a graduate of Harvard Business School with a Master

of Business Administration degree and is currently the managing partner of the

consulting firm of M.M.

Friedrich, Heilbronn & Fiszer.

He was formerly employed by The Boston Consulting Group, Inc.

from 1988 through 1992 as a manager.

Heilbronn graduated from Institut d’ Etudes Politiques de Paris in June 1983.

From 1984 to 1986, he worked as a financial analyst for Lazard Freres & Co.

He was formerly

employed by The Boston Consulting Group, Inc.

from 1988 through 1992 as a

Heilbronn graduated from Institut d’ Etudes Politiques de Paris in

From 1984 to 1986, he worked as a financial analyst for Lazard

In addition, during 2009, Mr.

Heilbronn became an Associate Professor in Business Strategy at Sciences Po, Paris, France.

As the result of his business and financial acumen, as well as his experience as managing partner of a business consulting firm in the area of mergers and acquisitions of large international companies in retail, consumer goods and consumer services throughout the world, we believe Mr.

Heilbronn is qualified to serve as a member of our Board of Directors.

Heilbronn became an Associate

Professor in Business Strategy at Sciences Po, Paris, France.

As the result of

his business and financial acumen, as well as his experience as managing

partner of a business consulting firm in the area of mergers and acquisitions

of large international companies in retail, consumer goods and consumer

services throughout the world, we believe Mr.

Heilbronn is qualified to serve

as a member of our Board of Directors.

Robert Bensoussan

Robert Bensoussan, age 67, has been a Director since March 1997 and is also an independent director, and a member of the Audit Committee, Nominating Committee and the Executive Compensation and Stock Option Committee.

Bensoussan founded Sirius Equity Consultants, a retail and branded luxury goods investment company.

Bensoussan remains an investor in Hapy Sweet Bee Ltd, natural health food product.

He is a member of the Advisory Board of Pictet Bank Premium Brands Fund and sits on the board of Yonderland, Europe’s largest premium outdoor retailer.

Robert Bensoussan, age 68, has served as a

Director since March 1997 and is an independent director.

He is a member of the

Audit Committee, Nominating Committee, and the Executive Compensation and Stock

Option Committee.

Bensoussan founded RBS Conseil, an investment

company focused on retail and branded luxury goods.

He remains an investor in

Hapy Sweet Bee Ltd., a natural health food products company.

Bensoussan currently serves as Chairman of Oriflame Holding Limited and

Oriflame Investment Holding PLC, a global beauty and wellbeing company

operating in approximately 60 markets through a multilevel marketing model and

supported by approximately three million beauty entrepreneurs worldwide, a role

he has held since 2025.

He is also Chairman of the Supervisory Board of

2Ride Holding, a Marseille-based European leader in premium protective gear for

motorcycle riding and outdoor sports, since 2025.

Previously, Mr.

Bensoussan was a director of, and had an indirect ownership interest in, J.

Choo Limited until July 2011, and was CEO from 2001 to 2007, and was a member of the Board of Jimmy Choo Ltd, from 2001 to 2011, which had been a privately held luxury shoe wholesaler and retailer.

He was previously Chairman of Camaïeu, the French retail conglomerate, a board member of Celio International, the French retail conglomerate and Vivarte representing the GLG hedge fund.

In the latter part of 2019, Mr.

Bensoussan resigned after 6 years as the only non-North American board member of Lululemon Athletica Inc.

Following the successful sale in 2021, Mr.

Bensoussan stepped down from the board of Feelunique.com, one of Europe’s largest online beauty retailers after serving for 9 years.

Bensoussan served on the board of SNS, a prominent aspirational streetwear and entertainment hub in addition to serving on the board of Pronovias, the worldwide leader of wedding dresses.

Bensoussan was Chief Executive Officer

Choo Limited from 2001 to 2007 and a member of its board from 2001 to

2011, during which time the company operated as a privately held luxury shoe

wholesaler and retailer.

He also served as Chairman of Camaïeu, a French retail

conglomerate, and as a board member of Celio International and Vivarte.

Bensoussan resigned after six years as the only non-North American

board member of Lululemon Athletica Inc.

Following the successful sale of the

company in 2021, he stepped down from the board of Feelunique.com, one of

Europe’s largest online beauty retailers, after nine years of service.

Bensoussan has also served on the boards of SNS, a prominent aspirational

streetwear and entertainment hub, Pronovias, the worldwide leader in wedding

dresses and Yonderland, Europe’s largest premium outdoor retailer.

We believe Mr.

Bensoussan is qualified to serve as a member of our Board of Directors due to his business and financial acumen and his experience in the retail and branded luxury goods market.

Bensoussan is qualified to serve as a

member of our Board of Directors due to his business and financial acumen and

his experience in the retail and branded luxury goods market.

Veronique Gabai-Pinsky

Gabai-Pinsky, age 59, was elected for the first time to our board as an independent director in September 2017.

She became a director of Interparfums, SA in April 2017.

She is currently operating a startup specialty fragrance business, a director of Lifetime Brands (Nasdaq:

LCUT), which is in the home goods business, and a member of the board of directors of Parfums de Marly, a privately held company.

She was President of Vera Wang Group from January 2016 through June 2018, after a year of consulting with the company and she oversaw all product categories and markets.

Prior to joining Vera Wang, from 2006 to December 2014, Ms.

Gabai-Pinsky was the Global President for Aramis and Designers Fragrances as well as Beauty Bank and Idea Bank at The Estée Lauder Companies, reporting to the Chief Executive Officer of such company.

Gabai-Pinsky, age 60, was elected for the first

time to our board as an independent director in September 2017.

director of Interparfums, SA in April 2017.

She is currently operating a

startup specialty fragrance business, a director of Lifetime Brands (Nasdaq:

LCUT), which is in the home goods business, and a member of the board of

directors of Parfums de Marly, a privately held company.

She was President of

Vera Wang Group from January 2016 through June 2018, after a year of consulting

with the company and she oversaw all product categories and markets.

joining Vera Wang, from 2006 to December 2014, Ms.

Gabai-Pinsky was the Global

President for Aramis and Designers Fragrances as well as Beauty Bank and Idea

Bank at The Estée Lauder Companies, reporting to the Chief Executive Officer of

such company.

During her tenure, Ms.

Gabai-Pinsky developed and ensured the growth of several beauty and skin care brands, including Lab Series for Men.

She was highly instrumental in the evolution of the fragrance category for such company, as she improved its overall business model, globally grew brands such as Donna Karan and Michael Kors, evolved and harmonized the portfolio, divested dilutive brands and brought in Tory Burch, Zegna and Marni under licenses.

She ultimately actively participated in the acquisitions of Le Labo, Frederic Malle, and By Kilian and assisted in the transformation of the long-term strategic direction of such company.

Gabai-Pinsky developed and ensured the

growth of several beauty and skin care brands, including Lab Series for Men.

She was highly instrumental in the evolution of the fragrance category for such

company, as she improved its overall business model, globally grew brands such

as Donna Karan and Michael Kors, evolved and harmonized the portfolio, divested

dilutive brands and brought in Tory Burch, Zegna and Marni under licenses.

ultimately actively participated in the acquisitions of Le Labo, Frederic

Malle, and By Kilian and assisted in the transformation of the long-term

strategic direction of such company.

In the earlier years of her career, Ms.

Gabai-Pinsky served as Vice President of Marketing and Communication for Guerlain, a division of LVMH Moet Hennessy Louis Vuitton S.A., where she led the successful re-launch of Shalimar, the introduction of Aqua Allegoria, and contributed to the re-focus of the beauty category around its pillars, Terracotta, Meteorites and Issima, while redesigning all communication strategies and content.

She started her career at L’Oréal, and was also Vice President of Marketing for Giorgio Armani, where she was instrumental in the overall development of its fragrance business by developing the successful Acqua di Gio for men and introducing the Emporio Armani franchise.

A graduate from ESSEC Business School in Paris, France, she has received several awards, including Marketer of the Year by Women’s Wear Daily in December 2013.

Gabai-Pinsky is an independent director, and is a member of the Audit Committee, Executive Compensation and Stock Option Committee and the Nominating Committee of our Company.

served as Vice President of Marketing and Communication for Guerlain, a

division of LVMH Moet Hennessy Louis Vuitton S.A., where she led the successful

re-launch of Shalimar, the introduction of Aqua Allegoria, and contributed to

the re-focus of the beauty category around its pillars, Terracotta, Meteorites

and Issima, while redesigning all communication strategies and content.

started her career at L’Oréal, and was also Vice President of Marketing for

Giorgio Armani, where she was instrumental in the overall development of its

fragrance business by developing the successful Acqua di Gio for men and

introducing the Emporio Armani franchise.

A graduate from ESSEC Business School

in Paris, France, she has received several awards, including Marketer of the

Year by Women’s Wear Daily in December 2013.

Gabai-Pinsky is an independent director, and is a

member of the Audit Committee, Executive Compensation and Stock Option

Committee and the Nominating Committee of our Company.

We believe Ms.

Gabi-Pinsky is qualified to serve as a member of our Board of Directors due to her more than 25 years of experience in the luxury, fashion, beauty and fragrance fields, success as a brand builder, creative thinker, business acumen, and a broad understanding of consumers, brands and business models.

Gabi-Pinsky is qualified to serve as a member of our Board of Directors due to

her more than 25 years of experience in the luxury, fashion, beauty and

fragrance fields, success as a brand builder, creative thinker, business

acumen, and a broad understanding of consumers, brands and business models.

Gilbert Harrison

Harrison, age 84, an independent director, was appointed to our board in April 2018.

Harrison has more than 50 years of experience in corporate finance and strategic transactions, specializing in the consumer products space.

He began his career in 1965 practicing corporate and securities law in New York and Philadelphia.

In 1971 he founded Financo, which he grew to become one of the leading independent middle market transaction firms in the country.

In 1985, Financo was acquired by Lehman Brothers, where the firm’s primary efforts were focused on increasing its expertise in retail, apparel and other merchandising transactions of all types.

Harrison, age 85, an independent director, was

appointed to our board in April 2018.

Harrison has more than 50 years of

experience in corporate finance and strategic transactions, specializing in the

consumer products space.

He began his career in 1965 practicing corporate and

securities law in New York and Philadelphia.

In 1971 he founded Financo, which

he grew to become one of the leading independent middle market transaction

firms in the country.

In 1985, Financo was acquired by Lehman Brothers, where

the firm’s primary efforts were focused on increasing its expertise in retail,

apparel and other merchandising transactions of all types.

At Lehman, Mr.

Harrison was Chairman of the Merchandising Group and on the firm’s Investment Banking Operating Committee while continuing as Chairman of Financo, which was renamed the Middle Market Group of Lehman.

In 1989, he re-acquired Financo from Lehman, re-establishing Financo as one of the leading investment banking firms handling transactions and providing strategic advice in connection with merchandising companies.

Harrison retired as Chairman of Financo in December of 2017, after which he formed the Harrison Group, a firm that provides consulting and financial advisory services to merchandising and products companies.

Harrison’s other activities include his membership and past membership on the Advisory Council of the GRC Global Conference World Retail Congress, Shoptalk and the Financial Times Business of Luxury Summit.

Additionally, he created a course on mergers and acquisitions at The Wharton School and has published various articles and academic studies on the state of retailing and mergers and acquisitions, including a chapter in the book entitled, “The Mergers and Acquisitions Handbook.” Mr.

Harrison lectures throughout the country, including chairing seminars for Retail Week as well as for the International Council of Shopping Centers, the National Retail Federation, Young President’s Center, The Wharton Aresty Institute of Executive Education and The President’s Association of the American Management Association.

He also appears frequently on Bloomberg TV and CNBC as an expert on retail and apparel.

Harrison received a Bachelor of Science in Economics from The Wharton School of The University of Pennsylvania in 1962 and his Juris Doctor from The University of Pennsylvania Law School in 1965.

He is also Chairman Emeritus of the Fashion Division of UJA, Treasurer, a former board member of the Southampton Hospital, a retired Director of the Peggy Guggenheim Collection, and former board member of The Wharton School of the University of Pennsylvania.

Harrison was Chairman of the Merchandising Group and on the firm’s Investment

Banking Operating Committee while continuing as Chairman of Financo, which was

renamed the Middle Market Group of Lehman.

In 1989, he re-acquired Financo from

Lehman, re-establishing Financo as one of the leading investment banking firms

handling transactions and providing strategic advice in connection with

merchandising companies.

Harrison retired as Chairman of Financo in

December of 2017, after which he formed the Harrison Group, a firm that

provides consulting and financial advisory services to merchandising and products

Harrison’s other activities include his membership

and past membership on the Advisory Council of the GRC Global Conference World

Retail Congress, Shoptalk and the Financial Times Business of Luxury Summit.

Additionally, he created a course on mergers and acquisitions at The Wharton

School and has published various articles and academic studies on the state of

retailing and mergers and acquisitions, including a chapter in the book

entitled, “The Mergers and Acquisitions Handbook.” Mr.

Harrison lectures throughout

the country, including chairing seminars for Retail Week as well as for the

International Council of Shopping Centers, the National Retail Federation,

Young President’s Center, The Wharton Aresty Institute of Executive Education

and The President’s Association of the American Management Association.

appears frequently on Bloomberg TV and CNBC as an expert on retail and apparel.

Harrison received a Bachelor of Science in

Economics from The Wharton School of The University of Pennsylvania in 1962 and

his Juris Doctor from The University of Pennsylvania Law School in 1965.

also Chairman Emeritus of the Fashion Division of UJA, Treasurer, a former board

member of the Southampton Hospital, a retired Director of the Peggy Guggenheim

Collection, and former board member of The Wharton School of the University of

Pennsylvania.

We believe Mr.

Harrison is qualified to serve as a member of our Board of Directors due to his tremendous depth and breadth of knowledge about the merchandising and consumer industry, and he has a long track record of facilitating value-creating transactions for companies in this sector.

Harrison is qualified to serve as a member of our Board of Directors due to his tremendous depth and breadth of knowledge about

the merchandising and consumer industry, and he has a long track record of

facilitating value-creating transactions for companies in this sector.

Harrison’s autobiography, Deal Junky , was published in January 2022.

Gerard Kappauf (“Kappauf”), age 63, an independent director, was born in Madagascar.

After studying Classic Literature at the Sorbonne in Paris, he attended the San Francisco Art Institute on a scholarship and worked as a special effects make-up artist in Los Angeles.

Upon traveling to Paris, Kappauf became interested in fashion and worked at a Jean Paul Gaultier fashion show.

Thanks to this experience, he began to expand his network by meeting emblematic figures in the industry such as Paco Rabanne.

While providing marketing and acquisition consulting services to L’Oreal Group during the tenure of Lindsay Owen Jones as its Chairman, in a bid for independence and emancipation he founded his own magazine in 1992, Citizen K.

Through Citizen K , he realized his ambition to launch a major magazine for a wide audience on fashion, luxury, culture, and the art of living, truly different from the magazines already in existence.

Citizen K magazine then became Citizen K International in 2012, a benchmark in fashion, luxury, and lifestyle.

Kappauf expanded the magazine's offering with the launch of Citizen K Homme in 2013, and 2014 was the year of change for Citizen K International with a new format and a fresh look.

In 2016 Kappauf launched Citizen K Arabia.

This title, distributed in the Middle East, benefits from editorial development and format adapted to the market.

Although 80% of Citizen K International’s editorial content is contained in Citizen K Arabia, this magazine still features 20% of content tailored to The Emirates and the Middle East.

In 2021, Kappauf launched The Kurator, the first a-gender magazine in the Middle East, as a luxury supplement to Gulf News, the leading daily newspaper in the region.

In 2024, Kappauf launched two new magazines:

Citizen K Sport, which combines fashion and sport, and The Kurator India, the luxury supplement of the country’s leading business daily, Mint.

Founded in January 1992 by Kappauf, he has been the Chief Executive Officer, and Creative and Editorial Director of the K Group since inception, which owns Citizen K magazines in Paris, as well as Enkore Studio in Dubai.

Enkore Studio specializes in visual brand identity, digital content, storytelling and concept development for the fashion, luxury, beauty, and lifestyle industries.

Kappauf now lives in Dubai.

We believe that Kappauf’s perspective on fashion, luxury, culture, and the art of living will bring diversity of viewpoints to our Board of Directors.

Frederic Garcia-Pelayo

Frederic Garcia-Pelayo, age 62, who was with Interparfums SA for more than the past 20 years, was the Executive Vice President and Chief Operating Officer of Interparfums SA, retired on December 31, 2024.

Kappauf (“Kappauf”), age 64, an independent director, was born in Madagascar.

After studying Classic Literature at the Sorbonne in Paris, he attended the San

Francisco Art Institute on a scholarship and worked as a special effects

make-up artist in Los Angeles.

Upon traveling to Paris, Kappauf became

interested in fashion and worked at a Jean Paul Gaultier fashion show.

to this experience, he began to expand his network by meeting emblematic

figures in the industry such as Paco Rabanne.

While providing marketing and

acquisition consulting services to L’Oreal Group during the tenure of Lindsay

Owen Jones as its Chairman, in a bid for independence and emancipation he

founded his own magazine in 1992, Citizen K.

Through Citizen K ,

he realized his ambition to launch a major magazine for a wide audience on

fashion, luxury, culture, and the art of living, truly different from the

magazines already in existence.

Citizen K magazine then became Citizen

K International in 2012, a benchmark in fashion, luxury, and lifestyle.

Kappauf expanded the magazine's offering with the launch of Citizen K Homme in

2013, and 2014 was the year of change for Citizen K International with a

new format and a fresh look.

In 2016 Kappauf

launched Citizen K Arabia.

This title, distributed in the Middle East,

benefits from editorial development and format adapted to the market.

80% of Citizen K International’s editorial content is contained in Citizen

K Arabia, this magazine still features 20% of content tailored to The

Emirates and the Middle East.

In 2021, Kappauf launched The Kurator, the

first a-gender magazine in the Middle East, as a luxury supplement to Gulf News,

the leading daily newspaper in the region.

In 2024, Kappauf

launched two new magazines:

Citizen K Sport, which combines fashion and

sport, and The Kurator India, the luxury supplement of the country’s

leading business daily, Mint.

Founded in January

1992 by Kappauf, he has been the Chief Executive Officer, and Creative and

Editorial Director of the K Group since inception, which owns Citizen K

magazines in Paris, as well as Enkore Studio in Dubai.

Enkore Studio

specializes in visual brand identity, digital content, storytelling and concept

development for the fashion, luxury, beauty, and lifestyle industries.

now lives in Dubai.

We believe that Kappauf’s perspective on fashion, luxury,

culture, and the art of living will bring diversity of viewpoints to our Board

of Directors.

Patrick Bousquet-Chavanne

Patrick Bousquet-Chavanne, age 67, an independent director,

is an accomplished executive in the fast moving consumer goods and retail

sectors, with over 35 years of international experience across London, Paris,

Dubai, and New York.

He has held senior leadership roles at prestigious

companies including, The Estee Lauder Companies Inc, LVMH, Marks & Spencer

PLC, EMAAR PJSC, and most recently served as CEO of ESW Americas.

Bousquet-Chavanne spearheads the Abu Dhabi Retail Development Program for

the Abu Dhabi Investment Office, an arm of the Abu Dhabi Department of Economic

From September 2023 to the present, he acts as consultant through

his company, PBC Consulting, in the retail industry.

From October 2020 to September 2023, Mr.

Bousquet-Chavanne served on the Advisory Board of ESW, a leading global direct

to consumer e-commerce service provider where he led Americas operations and

the global luxury practice, focusing on structuring United States operations

for accelerated growth and guiding the diversification and global expansion of

ESW in the luxury, fashion, beauty, and personal care industries.

Previously, as CEO of EMAAR Malls—the owner of The

Dubai Mall, the world’s largest travel retail and entertainment destination—Mr.

Bousquet-Chavanne brought transformative perspectives to the Middle East retail

market during a period of rapid digital transformation.

He led the acquisition

of Namshi.com, expanded the Dubai Mall's digital footprint, and introduced

advanced analytics and consumer insight capabilities to enhance customer

experience across channels.

Prior to his tenure at EMAAR Malls, Mr.

Bousquet-Chavanne was Chief Customer, Marketing, and Digital Officer at Marks

& Spencer PLC.

There, he spearheaded the department store’s digital

transformation, positioning marksandspencer.com as one of the top three online

destinations for clothing and footwear in the United Kingdom.

M&S's Beauty transformation initiative, cantered decision-making on

customer insights, and launched the award-winning Sparks™ CRM program.

Bousquet-Chavanne is a former Independent Director

of Brown-Forman (NYSE:

BF-B), one of the largest American spirits companies,

2005 to 2017, and

previously chaired the Compensation Committee of HSNi (NASDAQ:

multi-channel retailer in the USA.

He holds MBAs from Purdue University Krannert School

of Management and an Advanced Management degree from Stanford Executive Program

in Strategy and Organization.

Bousquet-Chavanne is a CCE, “ Conseiller du

Commerce Exterieur de la France ”, a member of Purdue University's Marketing

Advisory Board and was part of the Retail Leadership Group for The Prince’s

Trust, a UK charity founded by Charles, Prince of Wales.

He contributes to

Forbes.com on topics related to beauty and luxury.

We believe Mr.

Bousquet-Chavanne’s beauty and retail experience will contribute valuable

insights to our Board of Directors.

Herve Bouillonnec

Hervé Bouillonnec, age 56, is the Global Chief Commercial Officer at Interparfums, USA LLC, a wholly owned subsidiary of

the Company based in New York City, and oversees the commercial strategy and

licensing acquisitions for Interparfums, USA LLC.

Bouillonnec joined Interparfums, USA LLC in May

2007 to spearhead its worldwide fragrance business, based in New York City.

brought Interparfums USA his extensive experience in luxury brand management,

including time with Yves Saint Laurent (Kering Group) and Givenchy (LVMH).

was responsible for growing their prestige beauty and fragrance business to its

full potential in global domestic and travel retail markets.

He has strong

leadership skills and is responsible for managing teams worldwide.

experienced executive with an entrepreneurial spirit, he continually strives to

grow and build the business, starting from the ground up, with strategic

initiatives to create profitable and economically sound brands.

Bouillonnec grew up in France and has worked in

the United States since 2001.

He is passionate about golf, football, and rugby,

and remains a passionate fan of sports today.

He studied in France, England,

and Barcelona, earning a Bachelor of Arts in European Business in Great Britain

and a Master of European Economics from the University of Barcelona in Spain.

He speaks French, Spanish, and English fluently.

Hervé enjoys traveling with

his family and lives with his wife and daughter in New York City.

Bouillonnec’s extensive experience in building and growing

Interparfums’ fragrance business will be a welcome asset to our Board of

Section 16(a) Beneficial Ownership Reporting Compliance

4 unchanged sentences

Further, Insider Trading violations expose the Company, its management, and other personnel acting in supervisory capacities to potential civil liabilities and penalties for the actions of employees under their control who engage in Insider Trading violations.

If a director, officer or employee of our Company is aware of material information relating to the Company, which has not yet been made available to the public for at least two (2) full business days, then such person is prohibited by law as well as by Company policy from trading in the Company’s shares or directly or indirectly disclosing such information to any other persons so that they may trade in the Company’s shares.

It is difficult to describe what constitutes “material” information, but one should assume that any information, positive or negative, which might be of significance to an investor in determining whether to purchase, sell or hold our stock, would be material.

Information may be significant for this purpose even if it would not alone determine the investor’s decision.

Examples include a potential business acquisition, internal financial information which departs in any way from what the market would expect, important product developments, the acquisition or loss of a major contract, or an important financing transaction.

We emphasize that this list is not meant to be exhaustive, but merely illustrative.

Not only is it illegal to engage in Insider Trading or convey such information to others in breach of a duty, it is also generally illegal to “tip” such information to others who may trade in the securities involved or to recommend the purchase or sale of securities to others while you are in possession of such information.

It is the policy of the Company that one should never trade while in possession of material, non-public information or tip or communicate such information to others without first receiving authorization from the Company or our counsel.

This policy applies to your personal transactions and those indirectly through a spouse, friend, corporation or other entity.

This applies to the securities of the Company and of other corporations.

Thus, if in the course of the Company’s business, a person learns of material non-public information concerning another corporation (such as a customer or supplier) you should abstain from trading in that corporation’s securities.

Further, this policy applies to securities transactions by individuals who reside in the same household with directors, officers and employees of the Company.

Strict compliance with these policies and procedures is expected of all directors, officers and employees and members of their households, and any infringement thereof may result in sanctions, up to and including, termination of office or employment.

If a director, officer or employee of our Company is

aware of material information relating to the Company, which has not yet been

made available to the public for at least two (2) full business days, then such

person is prohibited by law as well as by Company policy from trading in the

Company’s shares or directly or indirectly disclosing such information to any

other persons so that they may trade in the Company’s shares.

It is difficult

to describe what constitutes “material” information, but one should assume that

any information, positive or negative, which might be of significance to an

investor in determining whether to purchase, sell or hold our stock, would be

Information may be significant for this purpose even

if it would not alone determine the investor’s decision.

Examples include a

potential business acquisition, internal financial information which departs in

any way from what the market would expect, important product developments, the

acquisition or loss of a major contract, or an important financing transaction.

We emphasize that this list is not meant to be exhaustive, but merely

illustrative.

Not only is it illegal to engage in Insider Trading or

convey such information to others in breach of a duty, it is also generally

illegal to “tip” such information to others who may trade in the securities

involved or to recommend the purchase or sale of securities to others while you

are in possession of such information.

It is the policy of the Company that one

should never trade while in possession of material, non-public information or

tip or communicate such information to others without first receiving

authorization from the Company or our counsel.

This policy applies to your

personal transactions and those indirectly through a spouse, friend,

corporation or other entity.

This applies to the securities of the Company and

of other corporations.

Thus, if in the course of the Company’s business, a

person learns of material non-public information concerning another corporation

(such as a customer or supplier) you should abstain from trading in that

corporation’s securities.

Further, this policy applies to securities

transactions by individuals who reside in the same household with directors,

officers and employees of the Company.

Strict compliance with these policies

and procedures is expected of all directors, officers and employees and members

of their households, and any infringement thereof may result in sanctions, up

to and including, termination of office or employment.

Insider Trading Procedure

In addition, to avoid the appearance of impropriety, no trading in the Company’s securities is permitted to take place without compliance with the following rules.

The person who intends to trade in the Company’s securities must first contact the Chief Financial Officer of Interparfums, Inc., prior to any contemplated purchase or sale.

There shall be no trading in the Company’s securities by Company personnel

within ten (10) full business days before the earlier of

(i) the issuance of a press release by the Company concerning its periodic financial information, which occurs approximately five (5) to ten (10) business days before the filing with the SEC of the Company’s periodic reports, which are due no later than March 1, May 10, August 9 and November 9 of each year, or

(ii) the actual filing of such periodic reports;

until two (2) full business days AFTER the actual filing of such periodic reports.

There shall also be no trading in the Company’s securities until not less than two (2) full business days after the release of any other press release or filing with the SEC of a Current Report on Form 8-K by the Company.

In no event shall there be any trading in the Company’s securities by Company personnel without the prior consent from the Company.

The person who intends to trade in

the Company’s securities must first contact the Chief Financial Officer of Interparfums,

Inc., prior to any contemplated purchase or sale.

There shall be no trading in the

Company’s securities by Company personnel

(10) full business days before the earlier of

issuance of a press release by the Company concerning its periodic financial

information, which occurs approximately five (5) to ten (10) business days

before the filing with the SEC of the Company’s periodic reports, which are due

no later than March 1, May 10, August 9 and November 9 of each year, or

actual filing of such periodic reports;

(2) full business days AFTER the actual filing of such periodic reports.

There shall also be no trading in

the Company’s securities until not less than two (2) full business days after

the release of any other press release or filing with the SEC of a Current

Report on Form 8-K by the Company.

In no event shall there be any

trading in the Company’s securities by Company personnel without the prior

consent from the Company.

Anti-Hedging Policy

Under the terms of our Anti-Hedging Policy, no officers, employees or members of our Board of Directors (and their respective family members or any affiliated entities) may engage in hedging or monetization transactions involving our securities, including buying any financial instrument or entering into any transaction that may offset any potential decrease in the market value of stock options or similar security that is granted as compensation.

This policy also prohibits all actions to avoid any downward price of such compensation award.

This same prohibition applies as well to any other person or company who is holding such equity security for the benefit of our employees, officers, directors or family members.

This policy is not intended to prohibit the exercise of our stock options granted under our stock option plans.

Under the terms of our Anti-Hedging Policy, no

officers, employees or members of our Board of Directors (and their respective

family members or any affiliated entities) may engage in hedging or

monetization transactions involving our securities, including buying any

financial instrument or entering into any transaction that may offset any

potential decrease in the market value of stock options or similar security

that is granted as compensation.

This policy also prohibits all actions to

avoid any downward price of such compensation award.

This same prohibition

applies as well to any other person or company who is holding such equity

security for the benefit of our employees, officers, directors or family

This policy is not intended to prohibit the exercise of our stock

options granted under our stock option plans.

Option Grants Policy and Practice

Option grants to officers and employees have historically been granted on the last business day of the calendar year, as the board believes that as a general rule, there should not be any material non-public information available at that time of year.

However, no options were granted during the years 2024, 2023 and 2022 to any executive officers, other than Michel Atwood, who received options to purchase 5,000 shares on December 30, 2022 as part of his initial compensation package, and options to purchase 4,000 shares on December 29, 2023 and December 31, 2024, the last business day each such calendar year, respectively.

Options have historically been granted at the fair market value on the date of grant with a 6-year term, and vested 20% each year after the first year on a cumulative basis.

Options granted to officers and employees terminate upon the termination of association with the Company, for other than death or permanent disability.

Historically, options were granted to independent directors on the first business day of February of each year in accordance with our stock option plan.

As the option grant date and number of shares underlying options were determined in our stock option plan, there would be no room for manipulation.

As previously reported, in 2022 our board cancelled the automatic option grant on February 1, 2022 in view of determining an alternate form of compensation for the independent directors.

However, after discussions with certain financial consultants relating to potential compensation plans in lieu of stock option grants to its independent directors, it was determined that the most favorable way for the independent directors to be compensated was to amend our stock option plan to reinstate the automatic grant of stock options.

Accordingly, our board authorized a new automatic grant to our independent directors commencing on the last business day December 30, 2022 to coincide with the historic grant date to officers and employees and continuing on the last business day of each year thereafter, which was approved by our shareholders at the 2023 annual meeting.

On December 31, 2024, options to purchase 1,500 shares were granted to all five of our independent directors, Messrs.

Heilbronn, Bensoussan, Harrison and Kappauf and Ms.

Gabai-Pinsky at the fair market value on the date of grant, $130.60 per share.

Clawback Policy for Erroneously Awarded Executive Compensation

Our Board of Directors has adopted a policy for the recovery of the award of erroneously awarded incentive compensation for our executive officers (the “Recovery Policy”).

If the Company is required to prepare an accounting restatement due to the material noncompliance with any financial reporting requirement under the securities laws, including any required accounting restatement to correct an error in previously issued financial statements that is material to the previously issued financial statements, or that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period, then, in accordance with the provisions of this Recovery Policy, the Company will recover reasonably promptly the amount of all Erroneously Awarded Compensation from its executive officers, as defined below.

The term “Erroneously Awarded Compensation” is defined in the Recovery Policy as the amount of incentive-based compensation that exceeds the amount of incentive-based compensation that otherwise would have been received had it been determined based on the restated amounts, and computed without regard to any tax liability.

For incentive-based compensation based on stock price or total shareholder return, where the amount of erroneously awarded compensation is not subject to mathematical recalculation directly from the information in an accounting restatement, the amount must be based on a reasonable estimate of the effect of the accounting restatement on the stock price or total shareholder return upon which the incentive-based compensation was received.

The Recovery Policy applies to all incentive-based compensation received by an executive officer during the three (3) completed fiscal years immediately preceding the date that the Company is required to prepare an accounting restatement, for all incentive-based compensation received by executive officers on or after October 2, 2023.

Option grants to officers and employees have

historically been granted on the last business day of the calendar year, as the

board believes that as a general rule, there should not be any material

non-public information available at that time of year.

However, no options were

granted during the years 2025, 2024 and 2023 to any executive officers, other

than Michel Atwood, Chief Financial Officer, who received options to purchase 4,000 shares on the last

business day each such calendar year, respectively, and Mr.

Bouillonnec, the Global

Chief Commercial Officer of Interparfums, USA LLC, who also received options to

purchase 4,000 shares on the last business day of each such calendar year.

historically been granted at the fair market value on the date of grant with a

6-year term, and vested 20% each year after the first year on a cumulative

Options granted to officers and employees terminate upon the termination

of association with the Company, for other than death or permanent disability.

Our board authorized automatic grants to our

independent directors commencing on the last business day of each year, which

was approved by our shareholders at the 2023 annual meeting.

On December 31,

2025, options to purchase 1,500 shares were granted to all six (6) of our

independent directors, Messrs.

Heilbronn, Bensoussan, Harrison, Kappauf,

Bousquet Chavanne and Ms.

Gabai-Pinsky at the fair market value on the date of

grant, $84.64 per share.

Policy for Erroneously Awarded Executive Compensation

Our Board of Directors has adopted a policy for the

recovery of the award of erroneously awarded incentive compensation for our

executive officers (the “Recovery Policy”).

If the Company is required to

prepare an accounting restatement due to the material noncompliance with any

financial reporting requirement under the securities laws, including any

required accounting restatement to correct an error in previously issued

financial statements that is material to the previously issued financial

statements, or that would result in a material misstatement if the error were

corrected in the current period or left uncorrected in the current period,

then, in accordance with the provisions of this Recovery Policy, the Company

will recover reasonably promptly the amount of all Erroneously Awarded

Compensation from its executive officers, as defined below.

The term “Erroneously Awarded Compensation” is defined

in the Recovery Policy as the amount of incentive-based compensation that

exceeds the amount of incentive-based compensation that otherwise would have

been received had it been determined based on the restated amounts, and

computed without regard to any tax liability.

For incentive-based compensation

based on stock price or total shareholder return, where the amount of

erroneously awarded compensation is not subject to mathematical recalculation

directly from the information in an accounting restatement, the amount must be

based on a reasonable estimate of the effect of the accounting restatement on

the stock price or total shareholder return upon which the incentive-based

compensation was received.

The Recovery Policy applies to all incentive-based

compensation received by an executive officer during the three (3) completed

fiscal years immediately preceding the date that the Company is required to

prepare an accounting restatement, for all incentive-based compensation

received by executive officers on or after October 2, 2023.

Executive Compensation.

Compensation Discussion and Analysis

The Executive Compensation and Stock Option Committee of our Board of Directors is comprised entirely of independent directors and oversees all elements of compensation (base salary, annual bonus, long-term incentives and perquisites) of our Company’s executive officers and administers our Company’s stock option plans, other than the non-employee directors stock option plan, which is self-executing.

The objectives of our compensation program are designed to strike a balance between offering sufficient compensation to either retain existing or attract new executives on the one hand, and maintaining compensation at reasonable levels on the other hand.

We do not have resources comparable to the cosmetic giants in our industry, and, accordingly, cannot afford to pay excessive executive compensation.

In furtherance of these objectives, our executive compensation packages generally include a base salary, as well as annual incentives tied to individual performance and long-term incentives tied to our operating performance.

Madar, the Chairman and Chief Executive Officer, took the initiative after discussions with Mr.

Atwood, the Chief Financial Officer and board member, and recommended executive compensation levels for executives for United States operations.

Benacin, the Chief Executive Officer of Interparfums SA, took the initiative after discussions with Philippe Santi, the Executive Vice President of Interparfums SA, and recommended executive compensation levels for executives for European based operations.

The recommendations are presented to the Compensation Committee for its consideration, and the Compensation Committee makes a final determination regarding salary adjustments and annual award amounts to executives, including Jean Madar and Philippe Benacin.

Madar and Benacin are not present during deliberations or determination of their executive compensation by the Compensation Committee.

The Executive Compensation and Stock Option Committee

of our Board of Directors is comprised entirely of independent directors and

oversees all elements of compensation (base salary, annual bonus, long-term

incentives and perquisites) of our Company’s executive officers and administers

our Company’s stock option plans, other than the non-employee directors stock

option plan, which is self-executing.

The objectives of our compensation program are

designed to strike a balance between offering sufficient compensation to either

retain existing or attract new executives on the one hand, and maintaining

compensation at reasonable levels on the other hand.

We do not have resources

comparable to the cosmetic giants in our industry, and, accordingly, cannot

afford to pay excessive executive compensation.

In furtherance of these

objectives, our executive compensation packages generally include a base

salary, as well as annual incentives tied to individual performance and

long-term incentives tied to our operating performance.

Madar, the Chairman and Chief Executive Officer,

took the initiative after discussions with Mr.

Atwood, the Chief Financial

Officer and board member, and recommended executive compensation levels for

executives for United States based operations.

Benacin, the Chief Executive

Officer of Interparfums SA, took the initiative after discussions with Philippe

Santi, the Executive Vice President of Interparfums SA, and recommended

executive compensation levels for executives for European based operations.

recommendations are presented to the Compensation Committee for its

consideration, and the Compensation Committee makes a final determination

regarding salary adjustments and annual award amounts to executives, including

Jean Madar and Philippe Benacin.

Madar and Benacin are not present

during deliberations or determination of their executive compensation by the

Compensation Committee.

Further, Messrs.

Madar and Benacin, in addition to being executive officers and directors, are our largest beneficial shareholders, and therefore, their interests are aligned with our shareholder base in keeping executive compensation at a reasonable level.

The Compensation Committee was pleased that the most recent shareholder advisory vote on executive compensation held at our last annual meeting of shareholders in September 2024 overwhelmingly approved the compensation policies and decisions of the Compensation Committee.

The Compensation Committee has determined to continue its present compensation policies in order to determine similar future decisions.

Our Compensation Committee believes that individual executive compensation is at a level comparable with executives in other companies of similar size and stage of development that operate in the fragrance industry, and takes into account our company’s performance as well as our own strategic goals.

Madar and Benacin, in addition to

being executive officers and directors, are our largest beneficial

shareholders, and therefore, their interests are aligned with our shareholder

base in keeping executive compensation at a reasonable level.

The Compensation Committee was pleased that the most

recent shareholder advisory vote on executive compensation held at our last

annual meeting of shareholders in September 2025 overwhelmingly approved the

compensation policies and decisions of the Compensation Committee.

Compensation Committee has determined to continue its present compensation

policies in order to determine similar future decisions.

Our Compensation Committee believes that individual

executive compensation is at a level comparable with executives in other

companies of similar size and stage of development that operate in the

fragrance industry, and takes into account our Company’s performance as well as

our own strategic goals.

During 2025 , the members of such committee consisted of Messrs.

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Elements of Compensation

The compensation of our executive officers is generally comprised of base salaries, including a fee paid to the holding companies of each of Messrs.

Madar and Benacin, annual cash bonuses and long-term equity incentive awards.

In determining specific components of compensation, the Compensation Committee considers individual performance, level of responsibility, skills and experience, other compensation awards or arrangements and overall company performance.

The Compensation Committee reviews and approves all elements of compensation for all of our executive officers taking into consideration recommendations from the Chief Executive Officer of our Company and the Chief Executive Officer of Interparfums SA, as well as information regarding compensation levels at competitors in our industry.

Our named executive officers have all been with the Company for more than the past ten (10) years, other than Mr.

Atwood who joined our Company in September 2022, with Messrs.

Madar and Benacin being founders of the Company.

Madar and Atwood, the Chief Financial Officer, and Benacin and Santi for European based operations, were most familiar with the individual performance, level of responsibility, skills and experience of each executive officer in their respective operating based operations, the Compensation Committee relies upon the information provided by such executive officers in determining individual performance, level of responsibility, skills and experience of each executive officer.

The Compensation Committee views the competitive marketplace very broadly, which would include executive officers from both public and privately held companies in general, including fashion and beauty companies, but not limited to the peer companies contained in the corporate performance graph contained in our annual report.

Generally, rather than tie the Compensation Committee’s determination of compensation proposals to any specific peer companies, the members of our committee have used their business experience, judgment and knowledge to review the executive compensation proposals recommended to them by Mr.

Madar for United States operations and Mr.

The compensation of our executive officers is

generally comprised of base salaries, including a fee paid to the holding

companies of each of Messrs.

Madar and Benacin, annual cash bonuses and

long-term equity incentive awards.

In determining specific components of

compensation, the Compensation Committee considers individual performance,

level of responsibility, skills and experience, other compensation awards or

arrangements and overall company performance.

The Compensation Committee

reviews and approves all elements of compensation for all of our executive

officers taking into consideration recommendations from the Chief Executive

Officer of our Company and the Chief Executive Officer of Interparfums SA, as

well as information regarding compensation levels at competitors in our

Our named executive officers have all been with the

Company for more than the past ten (10) years, other than Mr.

Atwood who joined

our Company in September 2022, with Messrs.

Madar and Benacin being founders of

Madar and Atwood, the Chief Financial Officer, and

Benacin and Santi for European based operations, were most familiar with the

individual performance, level of responsibility, skills and experience of each

executive officer in their respective operating based operations, the

Compensation Committee relies upon the information provided by such executive

officers in determining individual performance, level of responsibility, skills

and experience of each executive officer.

The Compensation Committee views the competitive

marketplace very broadly, which would include executive officers from both

public and privately held companies in general, including fashion and beauty

companies, but not limited to the peer companies contained in the corporate

performance graph contained in our annual report.

Generally, rather than tie

the Compensation Committee’s determination of compensation proposals to any

specific peer companies, the members of our committee have used their business

experience, judgment and knowledge to review the executive compensation

proposals recommended to them by Mr.

Madar for United States based operations and Mr.

Benacin for European based operations.

As such, as a general rule the Compensation Committee did not determine the need to benchmark any material item of compensation or overall compensation.

The members of the Compensation Committee have extensive experience and business acumen and are well qualified in determining the appropriateness of executive compensation levels.

Heilbronn is a managing partner of a business consulting firm in the area of mergers and acquisitions of large international companies in retail, consumer goods and consumer services throughout the world.

Gabai-Pinsky has executive experience as the former President of Vera Wang Group, as well as the Global President for Aramis and Designers Fragrances in addition to Beauty Bank and Idea Bank at The Estée Lauder Companies.

Bensoussan, the final committee member, was previously a member of the boards of lululemon athletica Inc., Feelunique.com, one of Europe’s largest online beauty retailers, and Jimmy Choo Ltd, from 2001 to 2011.

Base salaries for executive officers are initially determined by evaluating the responsibilities of the position held and the experience of the individual, and by reference to the competitive marketplace for executive talent.

Base salaries for executive officers are reviewed on an annual basis, and adjustments are determined by evaluating our operating performance, the performance of each executive officer, as well as whether the nature of the responsibilities of the executive has changed.

As such, as a general rule the

Compensation Committee did not determine the need to benchmark any material

item of compensation or overall compensation.

The members of the Compensation Committee have

extensive experience and business acumen and are well qualified in determining

the appropriateness of executive compensation levels.

Heilbronn is a

managing partner of a business consulting firm in the area of mergers and

acquisitions of large international companies in retail, consumer goods and

consumer services throughout the world.

Gabai-Pinsky has executive

experience as the former President of Vera Wang Group, as well as the Global

President for Aramis and Designers Fragrances in addition to Beauty Bank and

Idea Bank at The Estée Lauder Companies.

Bensoussan, the final committee

member, currently serves as Chairman of Oriflame Holding Limited and

Oriflame Investment Holding PLC, a global beauty and wellbeing company.

also Chairman of the Supervisory Board of 2Ride Holding, a Marseille-based

European leader in premium protective gear for motorcycle riding and outdoor

sports, since 2025.

Finally, he was previously a member of the boards of

lululemon athletica Inc., Feelunique.com, one of Europe’s largest online beauty

retailers, and Jimmy Choo Ltd, from 2001 to 2011.

Base salaries for executive officers are initially

determined by evaluating the responsibilities of the position held and the

experience of the individual, and by reference to the competitive marketplace

for executive talent.

Base salaries for executive officers are reviewed on an

annual basis, and adjustments are determined by evaluating our operating

performance, the performance of each executive officer, as well as whether the

nature of the responsibilities of the executive has changed.

As stated above, as Messrs.

Madar and Atwood for United States based operations, and Messrs.

Benacin and Santi for European based operations, were most familiar with the individual performance, level of responsibility, skills and experience of each executive officer in their respective based operations, the committee relied upon the information provided by such executive officers in determining individual performance, level of responsibility, skills and experience of each executive officer.

For executive officers of United States based operations, the bulk of their annual compensation is in base salary including a fee paid to the holding company for Mr.

Madar for services rendered outside the United States.

However, for executive officers of European based operations, base salary comprises a smaller percentage of overall compensation.

We have paid a lower percentage of overall compensation in the form of base salary to executive officers of European based operations for several years, principally because European based operations historically have had higher profitability than United States operations, and European based operations are run differently from United States operations by the Chief Executive Officer of European based operations, Mr.

As the result of this historically higher profitability, European based operations have had the ability to pay higher bonus compensation in addition to base salary.

As bonus compensation is and has historically been discretionary, no targets were set in order to maintain flexibility.

Further, if results of operations for European based operations were not satisfactory (again, no target amounts were set to maintain flexibility), then bonus compensation, as well as overall compensation could be lowered without otherwise affecting base salary.

Further still, by keeping annual bonus compensation at a higher percentage of overall compensation and base salary at a lower percentage, our company benefits because the base amount for annual salary adjustments would be smaller.

Finally, initial executive compensation matters for Interparfums SA are authorized by an independent committee, the Interparfums SA Corporate Governance, Nominations and Remuneration Committee (the “IPSA Remuneration Committee”).

Madar and Atwood for

United States based operations, and Messrs.

Benacin and Santi for European

based operations, were most familiar with the individual performance, level of

responsibility, skills and experience of each executive officer in their

respective based operations, the committee relied upon the information provided

by such executive officers in determining individual performance, level of

responsibility, skills and experience of each executive officer.

For executive officers of

United States based operations, the bulk of their annual compensation is in

base salary including a fee paid to the holding company for Mr.

services rendered outside the United States.

However, for executive officers of

European based operations, base salary comprises a smaller percentage of overall

compensation.

We have paid a lower percentage of overall compensation in the

form of base salary to executive officers of European based operations for

several years, principally because European based operations historically have

had higher profitability than United States based operations, and European based

operations are run differently from United States based operations by the Chief

Executive Officer of European based operations, Mr.

As the result of

this historically higher profitability, European based operations have had the

ability to pay higher bonus compensation in addition to base salary.

compensation is and has historically been discretionary, no targets were set in

order to maintain flexibility.

Further, if results of operations for European

based operations were not satisfactory (again, no target amounts were set to

maintain flexibility), then bonus compensation, as well as overall compensation

could be lowered without otherwise affecting base salary.

Further still, by

keeping annual bonus compensation at a higher percentage of overall

compensation and base salary at a lower percentage, our Company benefits

because the base amount for annual salary adjustments would be smaller.

Finally, initial executive compensation matters for Interparfums SA are

authorized by an independent committee, the Interparfums SA Corporate

Governance, Nominations and Remuneration Committee (the “IPSA Remuneration

For 2025, Mr.

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Included in this amount are payments made to Mr.

Benacin’s holding company of $250,000 for each year.

This same consulting fee has been paid for more than each of the past three years, in accordance with the consulting agreement with Mr.

Benacin’s holding company, which provides for review on an annual basis of the amount of compensation payable to such company.

The Compensation Committee considered the following salient factors in ratifying Mr.

Benacin’s base compensation that was approved by the IPSA Remuneration Committee, and in authorizing payment to Mr.

Benacin’s holding company

services rendered to United States based operations for several years by Mr.

Benacin in connection with licensing and distribution of international brands, as well as future services to be performed by Mr.

Benacin internationally relating to licensing and distribution of international brands for United States based operations.

Benacin values the services of two named executive officers of Interparfums SA, Mr.

Philippe Santi, Executive Vice President, and Mr.

Frederic Garcia-Pelayo, Executive Vice President and Chief Operating Officer, equally, their base salaries, as well as their bonus compensation discussed below, have been in lockstep.

For 2024, the base salary of each of Messrs.

Santi and Garcia-Pelayo was €474,462 a nominal increase from €458,000 in 2023.

Such increases were nominal, as compared to bonus compensation, as discussed later in the section.

The Compensation Committee considered the recommendations of Mr.

Benacin, base compensation that was approved by the IPSA Remuneration Committee, results of operations for the year, as well as the services performed for European based operations by Messrs.

Santi and Garcia-Pelayo in ratifying these salary levels.

A different approach is taken for United States based operations as that based operations is smaller and less profitable.

A more significant base salary is paid in order to attract and retain employees with the skills and talents needed to run the operation with a lesser emphasis placed on bonuses.

Neither of the executive officers for United States based operations have employment agreements (although Mr.

Madar’s personal holding company has a consulting agreement that provides for review on an annual basis of the amount of compensation payable to such company), as we believe that having flexibility in structuring annual base salary is a benefit, which permits us to act quickly to meet a changing economic environment.

As previously reported, from 2013 until 2019 the annual aggregate base salary paid to Mr.

Madar individually and fees paid to his holding company remained unchanged at $630,000, which was substantially below the amounts indicated by two surveys of chief executive officer salaries for 2019 (collectively the “CEO Salary Surveys”).

The CEO Salary Surveys indicated that the annual and median average CEO salaries for peer companies (excluding the Madar salary) were $2,854,656 and $1,540,000, respectively, and $2,604,346 and $1,750,000 for comparable market capitalization companies, respectively.

In recognition of the efforts of Mr.

Madar and his holding company as one of the prime causes for our substantial increase in net sales and net income, as well as market capitalization from 2014 through 2019, thus substantially increasing shareholder value, on February 4, 2020 the Compensation Committee authorized the aggregate annual increase in the fees paid to Mr.

Madar’s holding company, which are attributed to Mr.

Madar as base salary, by $600,000 to $1.23 million effective as of January 1, 2020.

Madar’s Holding Company received an increase in its management fees to $2 million, after not receiving an increase in 2022 and 2021.

This fee was also $2 million for 2024.

Atwood, who became the Chief Financial Officer in September 2022, was paid a base salary of $700,000 for 2024, an increase from his 2023 base salary of $525,000.

The Compensation Committee considered the following material factors in approving the base salary of Mr.

of $250,000 for each year.

consulting fee has been paid for more than each of the past three years, in

accordance with the consulting agreement with Mr.

Benacin’s holding company,

which provides for review on an annual basis of the amount of compensation

payable to such company.

The Compensation Committee considered the following

salient factors in ratifying Mr.

Benacin’s base compensation that was approved

by the IPSA Remuneration Committee, and in authorizing payment to Mr.

holding company;

services rendered to United States based operations for

several years by Mr.

Benacin in connection with licensing and distribution of

international brands, as well as future services to be performed by Mr.

internationally relating to licensing and distribution of international brands

for United States based operations.

For 2025, the base salary of Mr.

Santi was $548,000 an increase from $514,000 in 2024.

increase amounted to 6.2% from the prior year.

For IPSA, bonus compensation constituted a larger

portion of total executive compensation, as discussed later in the section.

Compensation Committee considered the recommendations of Mr.

Benacin, base

compensation that was approved by the IPSA Remuneration Committee, results of

operations for the year, as well as the services performed for European based

operations by Mr.

Santi in ratifying his salary level.

A different approach is taken for United States based

operations as that based operations is smaller and less profitable.

significant base salary is paid in order to attract and retain employees with

the skills and talents needed to run the operation with a lesser emphasis

placed on bonuses.

Neither of the executive officers for United States based

operations have employment agreements (although Mr.

Madar’s personal holding

company has a consulting agreement that provides for review on an annual basis

of the amount of compensation payable to such company), as we believe that

having flexibility in structuring annual base salary is a benefit, which

permits us to act quickly to meet a changing economic environment.

For each of years 2025, 2024 and 2023, Mr.

Madar’s Holding

Company received the same management fee of $2 million.

The major factors in

the determination for the lack of an increase in the management fee paid to

Jean Madar Holding SAS were the disappointing sales and results of United

States based operations for 2025.

The same two factors also were determinative in the

nominal increase in base salary awarded to Mr.

Atwood, the Chief Financial

Officer of both Interparfums, Inc.

and its United States based operating subsidiary,

Interparfums, USA LLC.

Atwood, who became the Chief Financial Officer in

September 2022, was paid a base salary of $721,000 for 2025, a nominal increase

of 3.0% from his 2024 base salary of $700,000.

The Compensation Committee

considered the following material factors in approving the base salary of Mr.

Atwood for 2025:

his individual performances, level of responsibilities, and skill, as well as the recommendation of the Chief Executive Officer.

his individual performances, level of responsibilities, and

skill, as well as the recommendation of the Chief Executive Officer.

Bouillonnec, the Global Chief Commercial

Officer for United States based operations who was elected to our board of

directors for the first time in September 2025, his base salary was $927,000 in

2025, also a 3.0% increase from his salary of $900,000 in 2024, also due to disappointing

sales and results of United States based operations in 2025.

As 2024 sales and

results were improved from the prior year, he had received a $50,000 increase

in base salary from $850,000 in 2023, or a 5.8% increase.

Bonus Compensation/Annual Incentives

The discretionary bonuses for Mr.

Benacin were $411,000 and $216,000, in recognition of the record setting performances in both sales and earnings of Interparfums SA, our French operating subsidiary for 2024 and 2023 respectively.

In addition, the Compensation Committee agreed with the recommendations of Mr.

Benacin, IPSA Remuneration Committee and the contributions made by Messrs.

Santi and Garcia-Pelayo to the Company’s success and growth.

Santi was awarded a discretionary bonus of $425,000, $458,000, and $437,000, in 2024, 2023, and 2022, respectively, or 83% , 92%, and 96%, of his base salary for those years.

Garcia-Pelayo was awarded a discretionary bonus of $458,000 and $437,000, in 2023 and 2022, respectively, or 92% and 96%, of his base salary for those years.

Garcia-Pelayo did not receive a discretionary bonus in 2024 due to his retirement, however, he did receive a severance payment of $2,243,490.

A different approach is taken for United States based operations as they are smaller and less profitable.

As discussed above, a more significant base salary is paid in order to attract and retain employees with the skills and talents needed to run United States based operations with a lesser emphasis placed on bonuses.

Atwood, the Chief Financial Officer, who as part of a verbal agreement with the Company, is entitled to a guaranteed annual bonus of $100,000, as well as a $100,000 bonus based upon achieving certain milestones.

For both 2024 and 2023, Mr.

Atwood received a discretionary bonus of $125,000.

The Compensation Committee considered the same factors in granting these two bonuses as in approving his annual base salary.

Jean Madar Holding SAS, the management company beneficially owned by Mr.

Madar, the Chief Executive Officer, has not received any cash bonus for more than in the past three years.

As required by French law, Interparfums SA maintains its own profit sharing plan for all French employees who have completed three months of service, including executive officers of our European based operations other than Mr.

Benacin, the Chief Executive Officer of Interparfums SA.

Benefits are calculated based upon a percentage of taxable income of Interparfums SA and allocated to employees based upon salary.

The maximum amount payable per year per employee is approximately $31,688.

Calculation of the total annual benefits contribution is made according to the following formula:

50% of (Interparfums SA fiscal income after taxes, less 2.5% of shareholders’ equity excluding current year income and pension provision) times a fraction, the numerator of which is wages, and the denominator of which is net income before tax + wages + taxes (other than income tax) + valuation allowances + amortization expenses + interest expenses.

Contribution to individual employees is then made pro rata based upon their individual salaries for the year.

Benacin were $475,000 and $411,000, in

recognition of the record setting performances in both sales and earnings of

Interparfums SA, our French operating subsidiary for 2025 and 2024

respectively.

In addition, the Compensation Committee agreed with the

recommendations of Mr.

Benacin, IPSA Remuneration Committee and the

contributions made by Mr.

Santi to the Company’s success

Santi was awarded a discretionary bonus of $537,000, $425,000, and $458,000, in 2025, 2024, and 2023,

respectively, or 98% , 83%, and 92%, of his base salary for those years.

A different approach is taken for United States based

operations as they are smaller and less profitable.

discussed above, a more significant base salary is paid in order to attract and

retain employees with the skills and talents needed to run United States based

operations with a lesser emphasis placed on bonuses.

Madar Holding SAS, the management company beneficially owned by Mr.

Chief Executive Officer, has not received any cash bonus for more than in the

past three years.

Atwood, the Chief Financial Officer, who as part

of a verbal agreement with the Company, is entitled to a guaranteed annual

bonus of $100,000, as well as a $100,000 bonus based upon achieving certain

For 2025, 2024 and 2023, Mr.

Atwood received a discretionary bonus of $110,000, $125,000 and $125,000.

The Compensation Committee considered the same factors in granting these two as in approving his annual base salary.

Bouillonnec, his bonus compensation was

relatively constant, $135,000 being paid in 2025, and $150,000 being paid in each of 2023 and 2024, reflecting the decrease in sales for United States based operations in 2025 as compared to 2024.

As required by French law, Interparfums SA maintains

its own profit sharing plan for all French employees who have completed three

months of service, including executive officers of our European based

operations other than Mr.

Benacin, the Chief Executive Officer of Interparfums

Benefits are calculated based upon a percentage of taxable income of

Interparfums SA and allocated to employees based upon salary.

amount payable per year per employee is approximately $37,480.

Calculation of the total annual benefits contribution

is made according to the following formula:

50% of (Interparfums SA fiscal income after taxes, less 2.5% of shareholders’ equity excluding current year income and pension provision)

times a fraction, the numerator of which is wages, and the denominator of which

is net income before tax + wages + taxes (other than income tax) + valuation

allowances + amortization expenses + interest expenses.

Contribution to individual employees is then made pro

rata based upon their individual salaries for the year.

Long-Term Incentives

Stock Options .

In prior years, we had linked long-term incentives with corporate performance through the grant of stock options.

However, no options were granted in 2021 or 2020 to either employees of United States based operations or European based operations, as other compensation arrangements were being considered as part of a review of the executive compensation strategy.

In December 2024, 2023 and 2022, at the recommendation of the Chief Executive Officer, the Compensation Committee authorized the grant of a stock option to purchase 4,000, 4,000 and 5,000 shares, respectively, to Mr.

Atwood, at the fair market value on the dates of grant, as part of his long-term incentives.

In prior years, we had linked long-term

incentives with corporate performance through the grant of stock options.

However, no options were granted in 2021 or 2020 to either employees of United

States based operations or European based operations, as other compensation

arrangements were being considered as part of a review of the executive

compensation strategy.

In December 2025, 2024 and 2023, at the recommendation

of the Chief Executive Officer, the Compensation Committee authorized the grant

of a stock option to purchase 4,000, shares for each such year, to Mr.

at the fair market value on the dates of grant, as part of his long-term

Unless the market price of our common stock increases, Mr.

Atwood will have no tangible benefit from this option.

Thus, the option holder is provided with the additional incentive to increase individual performance with the ultimate goal of increasing our overall performance.

We believe that enhanced executive incentive that result in increased corporate performance tend to build company loyalty.

No other stock option grants were made to other executive officers in 2024, 2023 or 2022, including Messrs.

will have no tangible benefit from this option.

Thus, the option holder is

provided with the additional incentive to increase individual performance with

the ultimate goal of increasing our overall performance.

We believe that

enhanced executive incentive that result in increased corporate performance

tend to build company loyalty.

Herve Bouillonnec, the Global Chief

Commercial Officer of Interparfums, USA LLC, who is also a member of our board

of directors, was granted a stock option to purchase 4,000 shares at the fair

market value on the dates of grant, for contributions to the Company in such

capacity, not as a member of our board of directors.

However, no other stock

option grants were made to other executive officers in 2025, 2024 or 2023,

including Messrs.

Jean Madar and Philippe Benacin.

Interparfums SA Stock Compensation Plans

2024 - 2023 No shares were granted to any employees or corporate officers during either year.

2022 Free Share Plan – On March 16, 2022, the Board of Interparfums SA (“IPSA”) decided to grant 88,400 free shares of its capital stock to all of the IPSA’s employees and corporate officers having more than 6 months seniority at the grant date.

The free shares are to be issued in June 2025.

Issuance of those shares is based on satisfaction of performance conditions, relating to the 2024 IPSA sales for 50% of the shares and 2024 operating income for the balance.

2025 Free Share Plan – On December 1, 2025, the Board of Interparfums SA (“IPSA”) decided to grant 137,900 free shares of its capital stock to all of the IPSA’s employees and corporate officers subject to their employment on the vesting date of March 1, 2029.

Issuance of these shares is based on satisfaction of performance conditions, relating to IPSA's 2028 fiscal year achievement's of consolidated sales and operating income for 45% of the shares and an EcoVadis rating for 10% of the shares.

IPSA used the services of third party to assist them in the valuation of the plan, with the calculations and assumptions as follows:

Management expects the rate of staff turnover to be 10%.

Using the Monte Carlo method, management expects the performance rate to be 80% on the IPSA and subsidiaries consolidated sales and 80.8% on the consolidated operating income.

As of December 31, 2022 management has updated its expectation related to the performance rate to be 100% for both consolidated sales and consolidated operating income based on the above assumptions, the total expenses related to this plan are valued at $4.1 million.

Using the Monte Carlo method, management expects the performance rate to be 86.2% on the IPSA and subsidiaries consolidated sales, 60% on the consolidated operating income and 80% on the EcoVadis rating.

As of December 31, 2025, management, using the above Monte Carlo method assumptions, expects total expenses related to this plan to be valued at $2.2 million (€2 million).

As of December 31, 2025:

No shares of IPSA Capital Stock were purchased in the open market and allocated to this plan

$0.1 million of expense was recorded ($0.1 million including social contributions).

2024 - 2023 No

shares were granted to any employees or corporate officers during either year.

2022 Free Share Plan – On March 16, 2022, the Board of Interparfums SA

(“IPSA”) decided to grant 88,400 free shares of its capital stock to all of the

IPSA’s employees and corporate officers having more than 6 months seniority at

the grant date.

The free shares were issued in June 2025.

those shares is based on satisfaction of performance conditions, relating to

the 2024 IPSA sales for 50% of the shares and 2024 operating income for the

IPSA used the services of third party to assist them in the valuation of the plan, with the calculations and assumptions as follows:

Management expects the rate of

staff turnover to be 12%.

Using the Monte Carlo method,

management expects the performance rate to be 80% on the IPSA and

subsidiaries consolidated sales and 80.8% on the consolidated operating

As of December 31, 2022 management

has updated its expectation related to the performance rate to be 100% for

both consolidated sales and consolidated operating income based on the above

assumptions, the total expenses related to this plan are valued at $4.1

As of December 31, 2024:

96,371 shares of IPSA Capital Stock, representing $ 4.1 million were purchased in the open market and allocated to this plan.

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106,046 shares of IPSA Capital Stock, representing $ 4.1 million were purchased in the open market and allocated to this plan.

All shares were vested and distributed to eligible employees on June 16, 2025.

$0.7 million of expense was recorded (or $0.9 million including social contributions).

Stock Appreciation Rights

Our stock option plans authorize us to grant stock appreciation rights, or SARs.

An SAR represents a right to receive the appreciation in value, if any, of our common stock over the base value of the SAR.

Our stock option plans authorize us to grant stock

appreciation rights, or SARs.

An SAR represents a right to receive the

appreciation in value, if any, of our common stock over the base value of the

To date, we have not granted any SARs under our plans.

While the Compensation Committee currently does not plan to grant any SARs under our plans, it may choose to do so in the future as part of a review of the executive compensation strategy.

Compensation Committee currently does not plan to grant any SARs under our

plans, it may choose to do so in the future as part of a review of the

executive compensation strategy.

Restricted Stock

We have not in the past, and we do not have any future plans to grant restricted stock to our executive officers.

However, while the Compensation Committee currently does not plan to authorize any restricted stock plans, the Compensation Committee may choose to do so in the future as part of a review of the executive compensation strategy.

We have not in the past, and we do not have any future

plans to grant restricted stock to our executive officers.

However, while the

Compensation Committee currently does not plan to authorize any restricted

stock plans, the Compensation Committee may choose to do so in the future as

part of a review of the executive compensation strategy.

Other Compensation

For 2024, each of Messrs.

Benacin and Garcia-Pelayo received an automobile allowance of $11,690.

For 2025, Mr.

Benacin received an automobile allowance of $12,204.

No Stock Ownership Guidelines

We do not require any minimum level of stock ownership by any of our executive officers.

We do not require any minimum level of stock ownership

by any of our executive officers.

As stated above, Messrs.

Madar and Benacin, are our largest beneficial shareholders, which aligns their interests with our shareholder base in keeping executive compensation at a reasonable level.

Madar and Benacin,

are our largest beneficial shareholders, which aligns their interests with our

shareholder base in keeping executive compensation at a reasonable level.

Retirement and Pension Plans

We maintain a 401(k) plan for United States based operations, and match the first 50% of the first 6% of contributions made by each employee on an annual basis, as we have determined that base compensation together with annual bonuses, are sufficient incentives to retain talented employees.

Our European based operations maintain a pension plan for its employees as required by French law.

For each of 2024, 2023, and 2022, each of Messrs.

Benacin, Santi and Garcia-Pelayo received an increase of approximately $19,000, $17,600, and $16,006, respectively, in their value of deferred compensation earnings.

We maintain a 401(k) plan for United States based

operations, and match the first 50% of the first 6% of contributions made by

each employee on an annual basis, as we have determined that base compensation

together with annual bonuses, are sufficient incentives to retain talented

Our European based operations maintain a pension plan for its

employees as required by French law.

For each of 2025, 2024, and 2023, each of

Benacin and Santi received an increase of approximately $20,000, $19,000, and $17,600,

respectively, in their value of deferred compensation earnings.

Compensation Committee Report

We have reviewed and discussed with management the Compensation Discussion and Analysis provisions to be included in this Annual Report on Form 10-K for fiscal year ended December 31, 2024 and the proxy statement for the upcoming annual meeting of shareholders.

Based on this review and discussion, we recommend to the Board of Directors that the Compensation Discussion and Analysis referred to above be included in this Annual Report on Form 10-K as well as the proxy statement for the upcoming annual meeting of shareholders.

We have reviewed and discussed with management the

Compensation Discussion and Analysis provisions to be included in this Annual

Report on Form 10-K for fiscal year ended December 31, 2025 and the proxy

statement for the upcoming annual meeting of shareholders.

Based on this review

and discussion, we recommend to the Board of Directors that the Compensation

Discussion and Analysis referred to above be included in this Annual Report on

Form 10-K as well as the proxy statement for the upcoming annual meeting of

shareholders.

François Heilbronn

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Chief Financial Officer

Russell Greenberg, (5)

Former CFO & Ex VP

Philippe Benacin, President

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President, Interparfums SA

Frédéric Garcia-Pelayo,

2,243,490 (6)

Executive Vice President and

Chief Operating Officer Interparfums SA

Amounts reflected under Option Awards represent the grant date fair values in 2024, 2023 and 2022 based on the fair value of stock option awards using a Black-Scholes option pricing model.

The assumptions used in this model are detailed in Footnote 12 to the audited consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2024 and filed with the SEC.

Benacin, the Chief Executive Officer of Interparfums SA.

Benefits are calculated based upon a percentage of taxable income of Interparfums SA and are allocated to employees based upon salary.

The maximum amount payable per year is approximately $31,688.

Herve Bouillonnec,

Global Chief Commercial Officer

of Interparfums, USA LLC

Amounts reflected under Option Awards represent

the grant date fair values in 2025, 2024 and 2023 based on the fair value of

stock option awards using a Black-Scholes option pricing model.

The assumptions

used in this model are detailed in Footnote 12 to the audited consolidated financial

statements in our Annual Report on Form 10-K for the year ended December 31, 2025 and filed with the SEC.

As required by French law,

Interparfums SA maintains its own profit sharing plan for all French

employees who have completed three months of service, including executive

officers of our European based operations other than Mr.

Benacin, the Chief

Executive Officer of Interparfums SA.

Benefits are calculated based upon a

percentage of taxable income of Interparfums SA and are allocated to

employees based upon salary.

The maximum amount payable per year is

approximately $37,480.

Calculation of total annual benefits contribution is made according to the following formula:

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Represents fees paid to Jean Madar Holding SAS in accordance with a Supervising and Coordinating Service Agreement, as amended.

Atwood replaced Mr.

Greenberg on September 6, 2022, who retired in September 2022.

Atwood’s base salary in 2022 was prorated from $ 500,000 , annually.

Garcia-Pelayo received a severance payment of $ 2,243,490 as the result of his retirement on December 31, 2024.

Name and Principal Position

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Chief Financial Officer, Interparfums SA

Frédéric Garcia-Pelayo,

Executive Vice President and

Chief Operating Officer, Interparfums SA

Herve Bouillonnec,

Global Chief Commercial Officer, Interparfums USA LLC

Plan based Awards

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Philippe Santi

Frédéric Garcia-Pelayo

Herve Bouillonnec

NA means not applicable.

Interparfums SA Stock Compensation Plan

No awards were granted in 2024 by Interparfums SA under its Stock Compensation Plan.

The following table sets certain information relating to each grant of an award made by Interparfums SA to the executive officers of our Company listed in the Summary Compensation Table during the past fiscal year.

Equity awards relate to the shares of Interparfums SA.

Grants of Plan-based Awards

Estimated Future Payouts Under

Non-Equity Incentive Plan Awards

Estimated Future Payouts Under

Equity Incentive Plan Awards

All Other Stock Awards:

Number of Shares of Stock or

All Other Option Awards:

Number of Securities Underlying

Exercise or Base Price of Option

Michel Atwood

Philippe Benacin

Philippe Santi

Herve Bouillonnec

Price listed represents the fair value per share on the grant date.

Interparfums SA Profit Sharing Plan

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Interparfums SA Profit Sharing Plan

Frédéric Garcia-Pelayo

Interparfums SA Profit Sharing Plan

Herve Bouillonnec

Outstanding Equity Awards at Fiscal Year-End

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Philippe Santi

Frédéric Garcia-Pelayo (3)

Herve Bouillonnec

[ Footnotes from table above ]

All options expire 6 years from the date of grant, and vest 20 % each year commencing one year after the date of grant.

Options are held in the name of personal holding company.

Outstanding options to purchase 2,000 shares at $73.09 expired on December 31, 2024, the date of his retirement.

The following table sets certain information relating to outstanding equity awards granted by Interparfums SA, our majority-owned French subsidiary which has its shares traded on the NYSE Euronext, held by the executive officers of our Company listed in the Summary Compensation Table as of the end of the past fiscal year.

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Philippe Santi

Frédéric Garcia-Pelayo

Herve Bouillonnec

Estimated number of shares are to be issued only to the extent that the performance conditions have been met.

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Philippe Santi

Frédéric Garcia-Pelayo

Herve Bouillonnec

[Footnotes from table above]

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Interparfums SA Pension Plan

Frédéric Garcia-Pelayo

Interparfums SA Pension Plan

Herve Bouillonnec

Does not include any contributions made by prior employers, or individually by the recipients as such information is confidential under French law.

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voluntary retirement at age 65;

a rate of 45% for employer payroll contributions for all employees;

employer social security contribution rates of 42.5% for executives and 46.8% for non-executives;

a 4% average annual salary increase;

an annual rate of turnover for all employees under 55 years of age and nil above;

the TH 00-02 mortality table for men and the TF 00-02 mortality table for women;

a turnover rate based on employee age and prospective mortality tables;

a discount rate of 3.96%.

The normal retirement age is 65 years, but employees, including Messrs.

Benacin, Santi and Garcia-Pelayo, can collect reduced benefits if they retire at age 62.

Garcia-Pelayo retired on December 31, 2024 and started collecting reduced benefits.

Benacin and Santi can collect reduced benefits if they retire at age 62.

Nonqualified Deferred Compensation

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Gilbert Harrison

Patrick Bousquet - Chavanne

[Footnotes from table above]

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Robert Bensoussan

c/o Sirius Equity LLP

52 Brook Street

W 1 K 5 DS London, UK

Victor Palace, 31 Avenue de Grande

Bretagne, 98000

Veronique Gabai-Pinsky

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75003 Paris, France

Patrick Bousquet-Chavanne

231 Flying Point Road

South Hampton, NY 11968

Herve Bouillonnec

Interparfums, USA LLC

551 Fifth Avenue

New York, NY 10176

All Directors and Officers

3 unchanged sentences

Options which are exercisable within 60 days are included in beneficial ownership calculations.

Consists of 15,000 shares held directly, 7,074,341 shares held indirectly through Jean Madar Holding SAS, a personal holding company, and options to purchase 25,000 shares.

Consists of 6,871,064 shares held indirectly through Philippe Benacin Holding SAS, a personal holding company, and options to purchase 25,000 shares.

Consists of shares of common stock underlying options for Mr.

Consists of 10,500 shares held directly and 7,086,341 shares held indirectly through Jean Madar Holding SAS, a personal holding company.

Consists of 6,846,064 shares held indirectly through Philippe Benacin Holding SAS, a personal holding company.

Consists of shares of common stock underlying options for Mr.

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Consists of shares of common stock underlying options for Mr.

Consists of 1,500 shares held directly and 5,400 shares of common stock underlying options for Mr.

Consists of 14,008,918 shares held directly or indirectly, and options to purchase 18,900 shares.

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Transactions with European Subsidiaries

We also provide (or had provided on our behalf) certain financial, accounting and legal services for Interparfums SA, and during 2024, 2023, and 2022, and fees for such services were $ 240,000 .

$530,000, and $491,300, respectively.

We also provide (or had provided on our behalf) certain financial, accounting and legal services for Interparfums SA, and during 2025 , 2024 , and 2023 , and fees for such services were $240,000 , $240,000, and $530,000, respectively.

In March 2024, Interparfums SA, a majority owned subsidiary of Interparfums, Inc.

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These loans partially funded our share repurchase plan during 2023 and cash dividend payments.

Fee for Director’s Company

As previously reported, in connection with the acquisition of the Donna Karan/DKNY license, which became effective on July 1, 2022, we agreed to pay to a company controlled by Mr.

Gilbert Harrison, a director, the sum of $300,000, payable over time, with $120,000 paid in 2021, $120,000 paid one year later in 2022 and $60,000 paid two years later in 2023.

Management and Consulting Agreements

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Further, as requested by Jean Madar Holding SAS, effective April 1, 2023 and continuing thereafter, all fees are to be paid entirely to Jean Madar Holding SAS, and for the balance of calendar year 2023, the amount of such fees are inclusive of the salary paid to Jean Madar individually from January 1, 2023 to March 31, 2023.

As Jean Madar, our Chief Executive Officer and Chairman of the Board, is the beneficial owner of Jean Madar Holding SAS, all of such fees paid to Jean Madar Holding SAS have been characterized as base salary for the disclosure purposes for the Summary Compensation and related discussion in Table in Item 11.

The same $2.0 million fee was paid to Jean Madar Holding SAS under the Service Agreement during 2024.

The same $2.0 million fee was paid to Jean Madar Holding SAS under the Service Agreement during 2024 and in 2025.

Please see our Annual Report on Form 10-K for the year ended December 31, 2021, Item 11 under the heading “ Employment and Consulting Agreements ” for a material terms of the employment agreement with Philippe Benacin, individually, and the consulting agreements with, and fees and stock options previously granted to, Philippe Benacin Holding SAS, which is incorporated by reference herein.

8 unchanged sentences

Gerard Kappauf

Patrick Bousquet-Chavanne

We follow and comply with the independent director definitions as provided by The Nasdaq Stock Market rules in determining the independence of our directors, which are posted on our Company’s website.

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Principal Accountant Fees and Services

Introductory Statement

Our Current Report on Form 8-K relating to our change in certifying accountant as filed with the United States Securities and Exchange Commission on June 6, 2024 is incorporated by reference herein.

The following sets forth the fees billed to us by Forvis Mazars, LLP and Mazars USA LLP, as well as discusses the services provided for the past two fiscal years, fiscal years ended December 31, 2025 and December 31, 2024 .

Fees billed by Forvis Mazars, LLP and its affiliates, Forvis Mazars SA and Forvis Mazars S.p.A.

for audit services and review of the consolidated financial statements contained in our Quarterly Reports on Form 10-Q was $1.4 million for the Q2 and Q3 10-Qs and the annual 10-K for 2024.

for audit services and review of the consolidated financial statements contained in our Quarterly Reports on Form 10-Q was $1.6 million for 2025 and $1.4 million for the Q2 and Q3 10-Qs and the annual 10-K for 2024.

Fees billed by Mazars USA LLP and its affiliates, Mazars S.A.

and Mazars Italia S.p.A.

for audit services and review of the consolidated financial statements contained in our Quarterly Reports on Form 10-Q were $0.3 million for the Q1 2024 10-Q and $1.4 and million for the full year 2023.

for review of the consolidated financial statements contained in our Quarterly Reports on Form 10-Q were $0.3 million for the Q1 2024 10-Q.

Audit-Related Fees

Forvis Mazars, LLP and Mazars USA LLP did not bill us for any audit-related services during 2024 and 2023.

Forvis Mazars, LLP and Mazars USA LLP did not bill us for any tax services during 2024 and 2023.

Forvis Mazars, LLP and its affiliates did not bill us for any audit-related services during 2025 and 2024 .

Forvis Mazars, LLP and its affiliates billed us $0.01 million and $0 for tax services during 2025 and 2024 .

All Other Fees

Forvis Mazars, LLP and its affiliates billed us $0.1 million for other services during 2024.

billed us nil and $9,000 for other services during 2024 and 2023, respectively.

Forvis Mazars, LLP and its affiliates billed us $0.1 million for other services during 2025 and 2024, respectively.

Audit Committee Pre-Approval Policies and Procedures

The Audit Committee has the sole authority for the appointment, compensation and oversight of the work of our independent accountants, who prepare or issue an audit report for us.

During the first quarter of 2024, the Audit Committee authorized the following non-audit services to be performed by Mazars USA LLP.

We authorized the engagement of Mazars USA LLP if deemed necessary to provide tax consultation in the ordinary course of business for fiscal year ended December 31, 2024.

We authorized the engagement of Mazars USA LLP if deemed necessary to provide tax consultation as may be required on a project by project basis that would not be considered in the ordinary course of business, up to a $10,000 fee limit per project (or €10,000 in the case of Interparfums SA), subject to an aggregate fee limit of $50,000 for fiscal year ended December 31, 2024.

If we require further tax services from Mazars USA LLP, then the approval of the Audit Committee must be obtained.

We authorized the engagement of Mazars USA LLP if deemed necessary to provide attestation or other services as may be required on a project by project basis that would not be considered in the ordinary course of business, up to a $10,000 fee limit per project (or €10,000 in the case of Interparfums SA), subject to an aggregate fee limit of $50,000 for fiscal year ended December 31, 2024.

If we require further other services from Mazars USA LLP, then the approval of the Audit Committee must be obtained.

If we require other services by Mazars USA LLP on an expedited basis such that obtaining pre-approval of the audit committee is not practicable, then the Chairman of the Committee has authority to grant the required pre-approvals for all such services.

We imposed a cap of $100,000 on the fees that Mazars USA LLP can charge for services on an expedited basis that are approved by the Chairman without obtaining full Audit Committee approval.

None of the non-audit services of either of the Company’s auditors had the pre-approval requirement waived in accordance with Rule 2-01(c)(7)(i)(C) of Regulation S-X.

These approvals were applicable to Forvis Mazars , LLP upon the agreement of the Audit Committee to engage with Forvis Mazars , LLP after the merger of Forvis LLP and Mazars USA LLP.

During the second quarter of 2025, the Audit Committee authorized the following non-audit services to be performed by Forvis Mazars, LLP.

We authorized the engagement of Forvis Mazars , LLP if deemed necessary to provide tax consultation in the ordinary course of business for fiscal year ended December 31, 2025 .

We authorized the engagement of Forvis Mazars , LLP if deemed necessary to provide tax consultation as may be required on a project by project basis that would not be considered in the ordinary course of business, up to a $10,000 fee limit per project (or €10,000 in the case of Interparfums SA), subject to an aggregate fee limit of $50,000 for fiscal year ended December 31, 2025 .

If we require further tax services from Forvis Mazars , LLP , then the approval of the Audit Committee must be obtained.

We authorized the engagement of Forvis Mazars , LLP if deemed necessary to provide attestation or other services as may be required on a project by project basis that would not be considered in the ordinary course of business, up to a $10,000 fee limit per project (or €10,000 in the case of Interparfums SA), subject to an aggregate fee limit of $50,000 for fiscal year ended December 31, 2025 .

If we require further other services from Forvis Mazars , LLP , then the approval of the Audit Committee must be obtained.

If we require other services by Forvis Mazars , LLP on an expedited basis such that obtaining pre-approval of the audit committee is not practicable, then the Chairman of the Committee has authority to grant the required pre-approvals for all such services.

We imposed a cap of $100,000 on the fees that Forvis Mazars , LLP can charge for services on an expedited basis that are approved by the Chairman without obtaining full Audit Committee approval.

None of the non-audit services of Forvis Mazars , LLP had the pre-approval requirement waived in accordance with Rule 2-01(c)(7)(i)(C) of Regulation S-X.

Exhibits, Financial Statement Schedules

( a)(1) Financial Statements annexed hereto

Financial Statements annexed hereto

Reports of Independent Registered Public Accounting Firms

Audited Financial Statements:

Financial Statements:

Consolidated Balance Sheets as of December 31, 2025 and 2024

4 unchanged sentences

Notes to Consolidated Financial Statements

(a)(2) Financial Statement Schedule:

Financial Statement Schedule:

Schedule II – Valuation and Qualifying Accounts

(a)(3) Exhibits – The list of exhibits is contained in the Exhibit Index, which follows the signature page of this report.

Exhibits – The list of exhibits is contained in the Exhibit Index, which follows the signature page of this report.

Form 10-K Summary

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( Mazars USA LLP, New York, New York, PCAOB ID 339 )

Audited Financial Statements:

Financial Statements:

Consolidated Balance Sheets as of December 31, 2025 , and 2024

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Notes to Consolidated Financial Statements

Financial Statement Schedule:

Statement Schedule:

Schedule II – Valuation and Qualifying Accounts

4 unchanged sentences

the accompanying consolidated balance sheets of Interparfums, Inc.

“Company”) as of December 31, 2024, the related consolidated statements of

income, comprehensive income, shareholders’ equity, and cash flows for the year

ended December 31, 2024, and the related notes and the schedule listed in the

Index in Item 15(a)(2) (collectively referred to as the “financial

Company) as of December 31, 2025 and 2024, the related consolidated statements

of income, comprehensive income, changes in shareholders’ equity, and cash flows for each

of the years in the two-year period ended December 31, 2025, and the related

notes and Schedule II – Valuation and Qualifying Accounts and Reserves listed

in the Index at Item 15 (collectively referred to as the “consolidated financial

statements”).

We also have audited the Company’s internal control over

financial reporting as of December 31, 2024, based on criteria established in Internal Control – Integrated Framework:

(2013) issued by the Committee of Sponsoring Organizations of the Treadway

Commission (COSO).

audited the adjustments to the 2023 financial statements to retrospectively

apply the change in accounting related to the Company’s adoption of ASU

2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment

Disclosures as described in Note 15.

In our opinion, such adjustments are

appropriate and have been properly applied.

We were not engaged to audit,

review, or apply any procedures to the 2023 financial statements of the Company

other than with respect to the adjustments and, accordingly, we do not express

an opinion or any other form of assurance on the 2023 financial statements

taken as a whole.

A material weakness is a deficiency, or a combination of

deficiencies, in internal control over financial reporting, such that there is

a reasonable possibility that a material misstatement of the Company’s annual

or interim financial statements will not be prevented or detected on a timely

The following material weaknesses have been identified and included in

management’s assessment:

The Company does not have an annual risk assessment process sufficiently designed to identify the risks that could impact the Company's consolidated financial statements.

This includes processes to review any previously recognized risks and identify any potential new risks that could have a material impact on the Company.

As a result, the Company could not properly assess if the key controls in place were sufficient to mitigate the risks of material misstatement and the Company could not adequately provide oversight over the testing of management's internal control over financial reporting.

The Company did not design and maintain an effective control environment commensurate with its financial reporting requirements.

Specifically, the Company did not maintain sufficient documentation to evidence that controls have operated as designed with respect to key financial statement accounts and assertions.

The Company did not design and maintain an effective information technology general controls related to user access at our Interparfums SA subsidiary, which limited management's ability to rely on technology-dependent controls relevant to the preparation of the Company's consolidated financial statements.

These material weaknesses were considered in determining the

nature, timi ng, and extent of auditing procedures applied in our audit

of the Company’s consolidated financial statements as of and for the year ended

December 31, 2024 and our opinion regarding the effectiveness of the Company’s

financial reporting as of December 31, 2025, based on criteria established in

Internal Control – Integrated Framework:

(2013) issued by the Committee of

Sponsoring Organizations of the Treadway Commission (COSO).

We also have audited

the adjustments to the 2023 consolidated financial statements (i) to correct the

immaterial misstatements in the 2023 consolidated financial statements, as

described in Notes 1 and 15, (ii) to retrospectively apply the Company’s

adoption of ASU 2023 ‑ 07, Segment Reporting (Topic 280):

Improvements to Reportable Segment

Disclosures as presented in Note 14, and (iii) the adoption of ASU 2023 ‑ 09, Income Taxes (Topic 740):

to Income Tax Disclosures, as described in Note 1 and presented in Note 15.

our opinion, such adjustments are appropriate and have been properly applied.

were not engaged to audit, review, or perform any procedures with respect to

the Company’s 2023 consolidated financial statements other than those related

to the adjustments described above, and, accordingly, we do not express an

opinion or any other form of assurance on the 2023 consolidated financial

statements taken as a whole.

weakness is a deficiency, or a combination of deficiencies, in internal control

over financial reporting, such that there is a reasonable possibility that a

material misstatement of the Company’s annual or interim consolidated financial

statements will not be prevented or detected on a timely basis.

The following

material weakness has been identified and

included in management’s assessment:

previously disclosed, the Company does not have an annual risk assessment

process sufficiently designed to identify the risks that could impact the

Company's consolidated financial statements.

This includes processes to review

any previously recognized risks and identify any potential new risks that could

have a material impact on the Company.

As a result, the Company could not

properly assess if the key controls in place were sufficient to mitigate the

risks of material misstatement and the Company could not adequately provide

oversight over the testing of management's internal control over financial

Management has implemented certain remediation measures, however,

the material weakness has not been remediated as of December 31, 2025.

This material

weakness was considered in determining the nature, timing, and extent of

auditing procedures applied in our audit of the Company’s consolidated financial

statements, and our opinion regarding the effectiveness of the Company’s

internal control over financial reporting does not affect our opinion on those

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material respects, the financial position of the Company as of December 31,

2024, and the results of its operations and its cash flows for the year ended

December 31, 2024, in conformity with accounting principles generally accepted

in the United States of America.

Also, i n our opinion, because of the

effect of the material weakness described above on the achievement of the

objectives of the control criteria, the Company has not maintained effective

internal control over financial reporting as of December 31, 2024, based on

criteria established in Internal Control – Integrated Framework:

(2013) issued

2025 and 2024, and the results of their operations and their cash flows for the

each of the years in the two-year period ended December 31, 2025, in conformity

with accounting principles generally accepted in the United States of America.

opinion, because of the effect of the material weakness described above on the

achievement of the objectives of the control criteria, the Company has not

maintained effective internal control over financial reporting as of December

31, 2025, based on criteria established in Internal Control – Integrated

(2013) issued by the COSO.

Basis for Opinion

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over Financial Reporting.

Our responsibility is to express an opinion on the Company’s

financial statements and an opinion on the Company’s internal control over

financial reporting based on our audit.

Our responsibility is to express an opinion on the

Company’s consolidated financial statements and an opinion on the Company’s

internal control over financial reporting based on our audits.

We are a public

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We conducted our

audit in accordance with the standards of the PCAOB.

audits in accordance with the standards of the PCAOB.

Those standards require

that we plan and perform the audit to obtain reasonable assurance about whether

the financial statements are free of material misstatement, whether due to

error or fraud, and whether effective internal control over financial reporting

was maintained in all material respects.

Our audit of the

financial statements included performing procedures to assess the risks of

material misstatement of the financial statements, whether due to error or

fraud, and performing procedures that respond to those risks.

Such procedures

include examining, on a test basis, evidence regarding the amounts and

disclosures in the financial statements.

Our audit also included evaluating the

accounting principles used and significant estimates made by management, as

well as evaluating the overall presentation of the financial statements.

audit of internal control over financial reporting included obtaining an

understanding of internal control over financial reporting, assessing the risk

that a material weakness exists, and testing and evaluating the design and

operating effectiveness of internal control based on the assessed risk.

audit also included performing such other procedures as we considered necessary

in the circumstances.

We believe that our audit provide a reasonable basis for

our opinions.

that we plan and perform the audits to obtain reasonable assurance about

whether the consolidated financial statements are free of material

misstatement, whether due to error or fraud, and whether effective internal

control over financial reporting was maintained in all material respects.

Our audits of the

consolidated financial statements included performing procedures to assess the

risks of material misstatement of the consolidated financial statements,

whether due to error or fraud, and performing procedures that respond to those

Such procedures include examining, on a test basis, evidence regarding

the amounts and disclosures in the consolidated financial statements.

also included evaluating the accounting principles used and significant

estimates made by management, as well as evaluating the overall presentation of

the consolidated financial statements.

Our audit of internal control over

financial reporting included obtaining an understanding of internal control

over financial reporting, assessing the risk that a material weakness exists,

and testing and evaluating the design and operating effectiveness of internal

control based on the assessed risk.

Our audits also included performing such

other procedures as we considered necessary in the circumstances.

that our audits provide a reasonable basis for our opinions.

Definition and Limitations of Internal Control over Financial Reporting

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reasonable assurance regarding the reliability of financial reporting and the

preparation of reliable financial statements for external purposes in

accordance with generally accepted accounting principles.

A company’s internal

control over financial reporting includes those policies and procedures that

(1) pertain to the maintenance of records that, in reasonable detail,

accurately and fairly reflect the transactions and dispositions of the assets

of the company;

preparation of reliable consolidated financial statements for external purposes

in accordance with generally accepted accounting principles.

internal control over financial reporting includes those policies and

procedures that (1) pertain to the maintenance of records that, in reasonable

detail, accurately and fairly reflect the transactions and dispositions of the

assets of the company;

(2) provide reasonable assurance that transactions are

recorded as necessary to permit preparation of financial statements in

accordance with generally accepted accounting principles, and that receipts and

expenditures of the company are being made only in accordance with

authorizations of management and directors of the company;

recorded as necessary to permit preparation of consolidated financial

statements in accordance with generally accepted accounting principles, and

that receipts and expenditures of the company are being made only in accordance

with authorizations of management and directors of the company;

and (3) provide

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acquisition, use, or disposition of the company’s assets that could have a

material effect on the financial statements.

material effect on the consolidated financial statements.

Because of its

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Critical Audit Matter

audit matters communicated below are matters arising from the current-period

audit of the financial statements that were communicated or required to be

communicated to the audit committee and that:

(1) relate to accounts or

disclosures that are material to the financial statements and (2) involved

our especially challenging, subjective, or complex judgments.

The communication

of critical audit matters does not alter in any way our opinion on the

audit matter communicated below is a matter arising from the current-period

audit of the consolidated financial statements that was communicated or

required to be communicated to the audit committee and that:

(1) relates to

accounts or disclosures that are material to the consolidated financial

statements and (2) involved our especially

challenging, subjective, or complex judgments.

The communication of a critical

audit matter does not alter in any way our opinion on the consolidated

financial statements, taken as a whole, and we are not, by communicating the

critical audit matters below, providing separate opinions on the critical audit

matters or on the accounts or disclosures to which they relate.

Indefinite-Lived

critical audit matter below, providing a separate opinion on the critical audit

matter or on the accounts or disclosures to which it relates.

Valuation of Indefinite-Lived

Intangible Assets

As described in

Notes 1 and 7 to the consolidated financial statements, the Company’s

indefinite-lived intangible assets were $116.2 million as of December 31, 2024.

The Company evaluates indefinite-lived intangible assets for impairment at

least annually during the fourth quarter, or more frequently when events occur

or circumstances change.

When testing indefinite-lived intangible assets for

impairment, the evaluation requires a comparison of the estimated fair value of

the asset to the carrying value of the asset.

The fair values used in

management’s evaluations are estimated based upon discounted future cash flow

projections using a weighted average cost of capital.

identified the indefinite-lived intangible assets as a critical audit matter.

The principal considerations for our determination are (i) the significant

judgment used by management when developing the fair value of the

As described in Note

7 to the consolidated financial statements, the Company’s indefinite-lived

intangible assets were $153.2 million as of December 31, 2025.

The balance is

primarily attributable to the Rochas Fragrance trademark, which comprises the

majority of the Company’s indefinite‑lived intangible assets.

The Company evaluates indefinite-lived

intangible assets for impairment at least annually during the fourth quarter,

or more frequently when events occur or circumstances change.

indefinite-lived intangible assets for impairment, the evaluation requires a

comparison of the estimated fair value of the asset to the carrying value of

The fair values used in management’s evaluations are estimated based

upon discounted future cash flow projections using a weighted average cost of

capital and long-term growth rate.

identified the valuation of the Rochas Fragrance trademark as a critical audit

The principal considerations for our determination are (i) the

significant judgment used by management when developing the fair value of the

indefinite-lived intangible assets;

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subjectivity, and effort in performing procedures and evaluating management’s

significant assumptions related to estimates of projected future sales and

discount rates;

and (iii) the audit effort involved the use of professionals

with specialized skill and knowledge.

significant assumptions related to estimates of projected future sales,

discount rates and long-term growth rate;

and (iii) the audit effort involved

the use of professionals with specialized skill and knowledge.

The procedures we

performed to address this critical audit matter included:

Obtained an understanding of the Company’s valuation model and process for assessing impairment of indefinite-lived intangible assets, and evaluated the design and tested the operating effectiveness of controls relating to the indefinite-lived intangible assets impairment assessments.

Involved the firm’s valuation specialists to assist in our procedures in evaluating the appropriateness of management's valuation models and assumptions, specifically related tot he weighted average cost of capital (i.e., the discount rate) and long-term growth rate.

an und erstanding of the Company’s valuation model and process for assessing

impairment of the Rochas Fragrance indefinite-lived intangible asset, and

evaluated the design and tested the operating effectiveness of controls

relating to the indefinite-lived intangible assets impairment assessments.

the work of a valuation specialist to assist in our procedures in evaluating

the appropriateness of management’s valuation models and assumptions,

specifically related to the weighted average cost of capital (i.e., the

discount rate) and long-term growth rate.

Evaluated the reasonableness of the significant assumptions used by management related to projected future sales and cash flows.

Testing the completeness and accuracy of data used by management in their valuation model, and the mathematical accuracy of management’s valuation model.

Tested the completeness and accuracy of data used by management in their valuation model, and the mathematical accuracy of management’s valuation model.

Forvis Mazars, LLP

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We have audited, before the effects

of the adjustments to retrospectively apply the change in accounting described

in Note 14 , the

accompanying consolidated balance sheet of Interparfums,

(the “Company”) as of December 31, 2023, and the related consolidated

statements of income, comprehensive income, shareholders' equity, and cash

flows for each of the years in the two-year period ended December 31, 2023, and

the related notes and the schedule listed in the Index in Item 15(a)(2) (collectively

referred to as the “consolidated financial statements”).

In our opinion, the

consolidated financial statements, before the effects of the adjustments to

retrospectively apply the change in accounting (as described in Note 14), present

fairly, in all material respects, the financial position of the Company as of

December 31, 2023, and the results of its operations and its cash flows for

each of the years in the two-year period ended December 31, 2023, in conformity

with accounting principles generally accepted in the United States of America.

of the correction of immaterial misstatements described in Note 1 and the

adjustments to retrospectively apply the changes in accounting described in

Notes 14 and 15, the

accompanying consolidated statements of income, comprehensive income, changes in shareholders' equity, and cash flows of Interparfums, Inc.

(the “Company”) for

the year ended December 31, 2023, and the related notes and the schedule listed

in the Index in Item 15(a)(2) (collectively referred to as the “consolidated

financial statements”).

In our opinion, the consolidated financial statements,

before the effects of the correction of immaterial misstatements (as described

in Note 1) and the adjustments to retrospectively apply the changes in

accounting (as described in Notes 14 and 15), present fairly, in all material

respects, the results of the Company’s operations and its cash flows for the

year ended December 31, 2023, in conformity with accounting principles

generally accepted in the United States of America.

We were not engaged to audit,

review, or apply any procedures to the adjustments to retrospectively apply the

change in accounting (as described in Note 14) and, accordingly, we do not

express an opinion or any other form of assurance about whether such adjustments

are appropriate and have been properly applied.

Those adjustments were audited

by Forvis Mazars, LLP.

review, or apply any procedures to the correction of immaterial misstatements (as

described in Note 1) and the adjustments to retrospectively apply the changes

in accounting (as described in Notes 14 and 15) and, accordingly, we do not

express an opinion or any other form of assurance about whether such correction

and adjustments are appropriate and have been properly applied.

The correction

and adjustments were audited by Forvis Mazars, LLP.

Basis for Opinion

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responsibility is to express an opinion on the Company’s consolidated financial

statements based on our audits.

statements based on our audit.

We are a public accounting firm registered with

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regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in

We conducted our audit in

accordance with the standards of the PCAOB.

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due to error or fraud.

Our audits included performing procedures to assess the

Our audit included performing procedures to assess the

risks of material misstatement of the consolidated financial statements,

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the amounts and disclosures in the consolidated financial statements.

audits also included evaluating the accounting principles used and significant

also included evaluating the accounting principles used and significant

estimates made by management, as well as evaluating the overall presentation of

the consolidated financial statements.

We believe that our audits provide a

We believe that our audit provides a

reasonable basis for our opinion.

We have served as

the Company's auditor from 2004 to 2024.

We have served as the Company's auditor from 2004 to 2024.

Mazars USA LLP

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Receivables, other

Other current assets

Other current assets - As Revised, See Note 1

Income taxes receivable

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Trademarks, licenses and other intangible assets, net

Deferred tax assets

Deferred tax assets - As Revised, See Note 1

Liabilities and Equity

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Authorized 100,000,000 shares:

outstanding, 32,110,170 and 32,004,660 shares on December 31, 2024 , and 2023 , respectively

outstanding, 32,067,285 and 32,110,170 shares on December 31, 2025 , and 2024 ,

Additional paid-in capital

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Accumulated other comprehensive loss

Treasury stock, at cost, 9,981,665 and 9,981,665 common shares on December 31, 2024 , and 2023 , respectively

Treasury stock, at cost, 9,032,840 and

9,981,665 common shares on December 31, 2025 , and 2024 , respectively

Total Interparfums, Inc.

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Interest and investment income

Other (income) expense

Nonoperating Income (Expense)

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Other comprehensive income:

Net derivative instrument (loss) income, net of tax

Net derivative instrument income (loss), net of tax

Transfer of OCI into earnings

Pension benefits, net of tax

Translation adjustments, net of tax

Foreign currency translation adjustments

Other comprehensive income (loss), before tax

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Comprehensive income attributable to noncontrolling interests:

Net derivative instrument (loss) income, net of tax

Net derivative instrument income (loss), net of tax

Pension benefits, net of tax

Translation adjustments, net of tax

Foreign currency translation adjustments

Comprehensive income (loss), net of tax, attributable to noncontrolling interest

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Accumulated other comprehensive loss, beginning of year

Foreign currency translation adjustment, net of tax

Foreign currency translation adjustment

Transfer from other comprehensive income into earnings

Pension benefits, net of tax

Net derivative instrument (loss) income, net of tax

Net derivative instrument income (loss), net of tax

Accumulated other comprehensive loss, end of year

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Noncontrolling interest, beginning of year

Foreign currency translation adjustment, net of tax

Foreign currency translation adjustment

Pension benefits, net of tax

Net derivative instrument (loss) income, net of tax

Net derivative instrument income (loss), net of tax

Share-based compensation

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Noncash stock compensation

Share of (income) loss of equity investment

Share of income of equity investment

Noncash lease expense

Deferred tax benefit

Gain on debt extinguishment

Deferred tax benefit - As Revised, See Note 1

Change in fair value of derivatives

Accounts receivable

Other assets - As Revised, See Note 1

Operating lease liabilities

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Substantially all of our prestige fragrance brands are licensed from unaffiliated third parties, and our business is dependent upon the continuation and renewal of such licenses.

With respect to the Company’s largest brands, we license the Jimmy Choo, Montblanc, Coach, GUESS, Donna Karan/DKNY, Lacoste, and Ferragamo brand names.

With respect to the Company’s largest brands, we license the Jimmy Choo, Coach, Montblanc, GUESS, Lacoste, Donna Karan/DKNY, and Ferragamo brand names.

As a percentage of net sales, product sales for the Company’s largest brands were as follows:

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(In thousands except share and per share data)

Intangible assets subject to amortization principally consist of licenses and are amortized on a straight-line basis over the shorter of the license term or estimated economic life, ranging from three to twenty years.

Intangible assets subject to amortization are evaluated for impairment testing whenever events or changes in circumstances indicate that the carrying amount of an amortizable intangible asset may not be recoverable.

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dollars, and sales of such products by our foreign subsidiaries are primarily denominated in either euro or U.S.

The substantial majority of our revenue is recognized at a point in time when control of the promised goods is transferred to customers based on agreed upon shipping terms, which usually occurs upon delivery.

Our product revenue is recognized at a point in time when control of the promised goods is transferred to customers based on agreed upon shipping terms, which usually occurs upon shipment.

Revenue is recognized in an amount that reflects the consideration that we expect to receive in exchange for those goods.

Net sales are comprised of gross revenues less incentives to customers such as returns, trade discounts and allowances, which give rise to variable consideration.

The Company does not bill its customers’ freight and handling charges.

The Company does not bill its customers for freight and handling charges.

The Company grants credit to all qualified customers and does not believe it is exposed significantly to any undue concentration of credit risk.

Macy's, our top retail customer, accounted for approximately 12 % of net sales in 2024 and 2023 , respectively.

No one customer represented 10 % or more of net sales in 2022 .

Macy's, our top retail customer, accounted for approximately 10 % of net sales in 2025 and 12 % of net sales in 2024 and 2023 respectively.

Sales Returns

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Recently Adopted Accounting Pronouncements

In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No.

2023 - 07 , Segment Reporting (Topic 280 ):

Improvements to Reportable Segment Disclosures.

The ASU updates reportable segment disclosure requirements, primarily through requiring enhanced disclosures about significant segment expenses and information used to assess segment performance and allocate resources.

The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods for fiscal years beginning after December 15, 2024, on a retrospective basis.

Early adoption is permitted.

The Company adopted the ASU as of December 31, 2024 and applied its provisions retrospectively (See Note 14).

In December 2023, the Financial Accounting Standards Board (“FASB”) issued A ccounting Standards Update (" ASU") No.

2023 - 09 , Income Taxes (Topic 740 ):

Improvements to Income Tax Disclosures.

The ASU includes amendments requiring enhanced income tax disclosures, primarily related to standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction.

The guidance is effective for annual periods beginning after December 15, 2024.

Early adoption is permitted and shall be applied on a prospective basis with the option to apply retrospectively.

The Company adopted the ASU as of December 31, 2025 and applied its provisions prospectively (See Note 15).

Recently Issued Accounting Pronouncements

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We are currently evaluating the impact of adopting this ASU on our disclosures.

In December 2023, the FASB issued ASU No.

2023 - 09 , Income Taxes (Topic 740 ):

Improvements to Income Tax Disclosures.

The ASU includes amendments requiring enhanced income tax disclosures, primarily related to standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction.

The guidance is effective for annual periods beginning after December 15, 2024.

Early adoption is permitted and shall be applied on a prospective basis with the option to apply retrospectively.

We are currently evaluating the impact of adopting this ASU on our disclosures.

In November 2025, the FASB issued ASU 2025‑09, Derivatives and

Hedging (Topic 815):

Hedge Accounting Improvements.

The guidance makes

targeted amendments to the hedge accounting model to better align the

accounting with an entity’s risk management activities and to clarify the

application of certain hedge accounting requirements.

The amendments are effective for the Company for fiscal

years beginning after December 15, 2026, including interim periods, with early

adoption permitted.

The Company is currently evaluating the impact of adopting

this guidance on its hedge accounting policies and disclosures;

Company does not expect adoption to have a material impact on its consolidated

financial position, results of operations, or cash flows.

There are no other recent accounting pronouncements issued but not yet adopted that would have a material effect on our consolidated financial statements.

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Correction of Immaterial Misstatements in Prior Period Financial Statements

During the year ended December 31, 2023 , the Company identified an error that caused an overstatement of line items on the previously reported consolidated statement of cash flows.

The error does not impact any other consolidated financial statement included herein.

Specifically, the error related to the timing of payments to Lacoste in accordance with the acquisition agreement of the Lacoste trademark in 2022 which required a payment in 2022 and an additional payment in 2023 .

In the 2022 consolidated statement of cash flow, the payment was reported to have been made in full during 2022 .

This error had no impact on net income or earnings per share for the year ended December 31, 2022.

The impact of the error resulted in a movement of $ 42.1 million between “Change in Accounts payable and accrued expenses” within operating cash flows and “Payment for intangible assets acquired” within investing cash flows.

In accordance with Staff Accounting Bulletin (“SAB”) No.

During the year ended December 31, 2025 , management identified a misclassification in the presentation of deferred tax asset within the Consolidated Balance Sheet and Consolidated Statement of Cash Flows in the Company's previously issued consolidated financial statements for the year ended December 31, 2024 and 2023.

Specifically, certain amounts previously presented in Deferred tax asset should have been presented in Other current assets as prepaid tax.

The Company evaluated the misclassification under ASC 250, Accounting Changes and Error Corrections, and considered both quantitative and qualitative factors in assessing materiality, including the guidance in Staff Accounting Bulletin (“SAB”) No.

99 , Materiality, and SAB No.

108 , Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements, the Company evaluated the errors and determined that the impact was not material to any of our previously issued financial statements.

The following table presents a summary of the impact by financial statement line item of the corrections for the year ended December 31, 2022:

108 , Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements.

Management concluded that misclassification was not material to any of the Company's previously issued consolidated financial statements for the affected periods.

However, management further concluded that revising the affected prior-period presentation in the current period is appropriate to ensure comparability.

As a result, the Company has revised the Consolidated Balance Sheet as of December 31, 2024 and the Consolidated Statement of Cash Flows for the periods ended December 31, 2024 and 2023 presented in this Annual Report on Form 10-K for the year ended December 31, 2025.

The revision impacted only the presentation within the consolidated financial statements and did not impact the Company's previously reported net income, income from operations, total operating, investing, or financing cash flows, total assets, total liabilities, or stockholders' equity for the period presented.

The following table presents a summary of the effect of correcting this error on the Company's previously issued financial statements:

For the Year Ended December 31, 2024

Consolidated Statement of Cash Flow

Consolidated Balance Sheet

As previously reported

(in thousands)

Change in Accounts payable and accrued expenses

Net cash provided by operating activities

Payments for intangible assets acquired

Net cash used in investing activities

Other current assets

Total current assets

Deferred tax assets

The Company revised the Statement of Cash Flows for the years ended December 31, 2024 and 2023 to reflect the reduction in adjustments to reconcile net income for Deferred tax benefit and the reduction of cash inflows related to Other assets in the amounts of $ 1.3 million, respectively.

The revisions did not impact the total cash flows or total net cash provided by operating activities for either period.

Amounts within Note 15 - Income Taxes were also revised to correct the previously presented Effect of inventory profit elimination and net deferred tax assets for the year ended December 31, 2024.

INTERPARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2025, 2024 and 2023

(In thousands except share and per share data)

Recent Agreements

In December 2024, we announced that our 72 % owned French subsidiary, Interparfums SA, signed for all Off-White brand names and registered trademarks for Class 3 fragrance and cosmetic products, subject to an existing license that expires on December 31, 2025, when Interparfums SA will begin commercial use of the fragrance brand.

In January 2026, we entered into a 20 -year license agreement for Nautica brand fragrances and fragrance related products, a subsidiary of the Authentic Brands Group.

Our rights under this license are subject to certain minimum advertising expenditures and royalty payments as are customary in our industry.

David Beckham

In January 2026, we entered into a 20 -year license agreement for David Beckham brand fragrances and fragrance related products, a subsidiary of the Authentic Brands Group.

This license will become effective on the earlier of April 1, 2028 or the termination of the existing license agreement.

Our rights under this license are subject to certain minimum advertising expenditures and royalty payments as are customary in our industry.

In 2018 , GUESS?, Inc.

and the Company signed an exclusive worldwide license agreement for the creation, the manufacturing and the distribution of fragrances under the GUESS brand until December 31, 2033 .

In December 2025, the license agreement was renewed for an additional 15 years, extending the license through December 31, 2048 .

In July 2025, we announced that our 72 % owned French subsidiary, Interparfums SA, signed an exclusive license agreement with Longchamp, a Parisian Maison, through December 31, 2036 .

Interparfums SA will be responsible for the creation, development, production and distribution of fragrance lines in Longchamp-brand points of sale and selective distribution channels.

The first launch is expected in 2027 .

Our rights under this license are subject to certain minimum advertising expenditures and royalty payments as are customary in our industry.

In March 2025, we announced that our 72 % owned French subsidiary, Interparfums SA, acquired all intellectual property rights relating to Goutal Paris held by Amorepacific Europe.

Amorepacific Europe operated the Goutal brand under an existing license agreement that expired on December 31, 2025 , and Interparfums SA began commercial use of the fragrance brand on January 1, 2026.

In 2015 , Coach and Interparfums SA signed an exclusive worldwide license agreement for the creation, the manufacturing and the distribution of fragrances under the Coach brand until June 30, 2026.

In March 2025, the license agreement was renewed for an additional 5 -year term, extending the license through June 30, 2031 .

INTERPARFUMS, INC.

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(In thousands except share and per share data)

Abercrombie & Fitch and Hollister

In March 2025, we expanded our Fierce distribution agreement, which now allows for global distribution of the iconic Fierce fragrance line that either party may terminate on two years ’ notice.

Furthermore, our existing Abercrombie & Fitch and Hollister fragrance license agreement will expire on March 14, 2028 .

The goal of the updated Fierce distribution agreement is to drive, over time, more consistency between the products that are carried in the Abercrombie & Fitch stores and unaffiliated retailers.

In December 2024, we announced that our 72 % owned French subsidiary, Interparfums SA, signed for all Off-White brand names and registered trademarks for Class 3 fragrance and cosmetic products, subject to an existing license that expires on December 31, 2025 , when Interparfums SA will begin commercial use of the fragrance brand.

Van Cleef & Arpels

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In December 2024, the license agreement was renewed for an additional 9 -year term, through December 31, 2033 .

Abercrombie & Fitch

In 2023 , we announced our agreement to distribute Abercrombie & Fitch’s number one men’s fragrance, Fierce , in selected markets.

The first phase of the agreement, which became effective on September 1, 2023, covers Fierce distribution in certain major markets, including Europe, Mexico and Australia.

The second phase, which activated in February 2024, covers distribution in additional markets in Western Europe and Latin America.

Roberto Cavalli

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The license became effective in July 2023 and will last for 6.5 years.

We began shipping Roberto Cavalli perfumes and fragrances related products in February 2024.

We began shipping Roberto Cavalli perfumes and fragrance related products in February 2024.

In December 2022, we closed a transaction agreement with Lacoste, whereby an exclusive and worldwide license was granted for the production and distribution of Lacoste brand perfumes and cosmetics.

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As of September 30, 2024, all finished goods and components were sold and we no longer carry any inventory related to Dunhill.

Donna Karan/DKNY

In September 2021, we entered into a long-term global licensing agreement for the creation, development and distribution of fragrances and fragrance related products under the Donna Karan and DKNY brands.

Our rights under this license are subject to certain minimum advertising expenditures and royalty payments as are customary in our industry.

With this agreement, we have gained several well-established and valuable fragrance franchises, most notably Donna Karan Cashmere Mist and DKNY Be Delicious , as well as a significant loyal consumer base around the world.

In connection with the grant of license, we issued 65,342 shares of Interparfums, Inc.

common stock valued at $ 5.0 million to the licensor.

The exclusive license became effective July 1, 2022.

INTERPARFUMS, INC.

7 unchanged sentences

In the fourth quarter of 2024 , we again took a $ 4.0 million impairment charge on the Rochas fashion trademark after management reviewed and agreed with an independent expert's conclusion that the valuation of the trademark was $ 7.2 million.

There were no impairment charges taken in 2025 or 2023 .

Inventories consist of the following:

5 unchanged sentences

Overhead included in inventory aggregated $ 6.5 million and $ 6.1 million as of December 31, 2025 and 2024 , respectively.

Included in inventories is an inventory reserve, which represents the difference between the cost of the inventory and its estimated realizable value, based upon sales forecasts and the physical condition of the inventories.

Included in inventories is an inventory reserve, which represents the difference between the cost of the inventory and its estimated net realizable value, based upon sales forecasts and the physical condition of the inventories.

In addition, and as necessary, specific reserves for future known or anticipated events may be established.

17 unchanged sentences

Foreign currency forward exchange contracts accounted for using hedge accounting

Total Liabilities

Fair Value Measurements at December 31, 2024

7 unchanged sentences

Foreign currency forward exchange contracts accounted for using hedge accounting

Total Assets Total Assets

Total Liabilities Total Assets

INTERPARFUMS, INC.

23 unchanged sentences

Such gains and losses were immaterial in each of the years in the three -year period ended December 31, 2025 .

Other (income) expense includes a loss of $ 1.7 million and $ 2.8 million in 2024 and 2023 , respectively, and a gain of $ 6.3 million in 2022 , resulting from an interest rate swap.

All derivative instruments are reported as either assets or liabilities on the consolidated balance sheet measured at fair value.

13 unchanged sentences

Depreciation expense was $ 10.9 million , $ 10.4 million and $ 9.8 million in 2025 , 2024 , and 2023 , respectively.

In April 2021, Interparfums SA, our 72 % owned French Subsidiary, completed the acquisition of its headquarters at 10 rue de Solférino in the 7 th arrondissement of Paris from the property developer.

This is an office complex combining three buildings connected by two inner courtyards, and consists of approximately 40,000 total sq.

The purchase price included the complete renovation of the site.

As of December 31, 2024, $ 145 million (€ 139 million) of the purchase price, including approximately $ 3 million of acquisition costs, is included in property, equipment and leasehold improvements on the accompanying consolidated balance sheet.

The purchase price has been allocated approximately $ 59.5 million (€ 57 million) to land and $ 85.5 million (€ 82 million) to the building.

The building, which was delivered on February 28, 2022, includes the building structure, development of the property, façade waterproofing, general and technical installations and interior fittings that will be depreciated over a range of 7 to 50 years.

The Company has elected to depreciate the building cost based on the useful lives of its components.

The acquisition was financed by a 10 -year € 120 million (approximately $ 124.7 million ) bank loan which bears interest at one-month Euribor plus 0.75%.

Approximately € 80 million of the variable rate debt was swapped for variable interest rate debt with a maximum rate of 2 % per annum.

The swap effectively exchanges the variable interest rate to a fixed rate of approximately 1.1 %.

Land and building includes construction in progress in the amount $ 25.2 million and $ 10.5 million at December 31, 2025 and 2024, respectively.

Trademarks, Licenses and Other Intangible Assets

13 unchanged sentences

Amortization expense was $ 14.4 million , $ 13.6 million and $ 7.5 million in 2025 , 2024 and 2023 , respectively.

Amortization expense is expected to approximate $ 13.8 million in 2025 , $ 12.2 million in 2026 , $ 11.8 million in 2027 , and $ 11.0 million in 2028 and 2029 .

Amortization expense is expected to approximate $ 12.2 million in 2026, $ 12.0 million in 2027, $ 11.3 million in 2028, $ 10.8 million in 2029 , and $ 10.4 million in 2030.

The weighted average amortization period for trademarks, licenses and other intangible assets with finite lives are 18 years, 15.5 years and 2.5 years, respectively, and 14.8 years on average.

The Company reviews intangible assets with indefinite lives for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.

There was an impairment charge for trademarks with indefinite useful lives of $ 4.0 million and $ 6.8 million in 2024 and 2022 , respectively, relating to our Rochas fashion business and an impairment charge for trademarks with indefinite useful lives of $ 0.9 million in 2022 relating to our Intimate trademark.

There was no impairment charge for trademarks with indefinite useful lives in 2023.

During the year ended December 31, 2025, the majority of the change in gross amount of trademarks with indefinite lives was related to the acquisition of all intellectual property rights of Goutal Paris in March 2025.

The Company reviews intangible assets with indefinite lives for impairment annually in the fourth quarter or whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.

There was an impairment charge for trademarks with indefinite useful lives of $ 4.0 million in 2024 , relating to our Rochas fashion business.

There were no impairment charges for trademarks with indefinite useful lives in 2025 and 2023 .

The fair values used in our evaluations are estimated based upon discounted future cash flow projections using a weighted average cost of capital of 8.34 %, 9.47 %, and 10.39 % as of December 31, 2025 , 2024 and 2023 , respectively.

2 unchanged sentences

However, if future actual results do not meet our expectations, the Company may be required to record an impairment charge, the amount of which could be material to our results of operations.

The cost of trademarks, licenses and other intangible assets with finite lives is being amortized by the straight-line method over the term of the respective license or the intangible assets estimated useful life which range from three to twenty years .

If the residual value of a finite life intangible asset exceeds its carrying value, then the asset is not amortized.

The Company reviews intangible assets with finite lives for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.

Trademarks (finite lives) primarily represent Lanvin brand names and trademarks and in connection with their purchase, Lanvin was granted the right to repurchase the brand names and trademarks on July 1, 2027 for € 70 million (approximately $ 73 million), representing the residual value, in accordance with an amendment signed in 2021 .

Trademarks (finite lives) primarily represent Lanvin brand names and trademarks.

In connection with their purchase, Lanvin was granted the right to repurchase the brand names and trademarks on July 1, 2027 for € 70 million (approximately $ 82.3 million), representing the residual value, in accordance with an amendment signed in 2021 .

Because the residual value of the intangible asset exceeds its carrying value, the asset is not being amortized.

INTERPARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2024 , 2023 and 2022

(In thousands except share and per share data)

Accrued Expenses

5 unchanged sentences

Refund (return) liability

Loans Payable – Banks

Loans payable – banks consist of the following:

Effective June 2024, the Company and its domestic subsidiaries have available a $ 25 million unsecured revolving line of credit due on demand, which bears interest at the Secured Overnight Financing Rate ("SOFR") plus 1.75 % (the SOFR was 4.45 % as of December 31, 2024 ).

The line of credit which has a maturity date of April 30, 2025 , is expected to be renewed on an annual basis.

Effective November 2024, the Company and its domestic subsidiaries have available a $ 20 million unsecured revolving line of credit due on demand, which bears interest at the SOFR plus a margin (the SOFR was 4.45 % as of December 31, 2024 ).

The line of credit, which has a maturity date of December 31, 2025 , is expected to be renewed on an annual basis.

The Company and its domestic subsidiaries have available a $ 25 million unsecured revolving line of credit due on demand, which bears interest at the daily SOFR plus 2 % (the SOFR was 4.45 % as of December 31, 2024 ).

The line of credit which has a maturity date of December 13, 2025 , is expected to be renewed on an annual basis.

Borrowings outstanding pursuant to all lines of credit were zero as of December 31, 2024 and 2023 .

INTERPARFUMS, INC.

3 unchanged sentences

(In thousands except share and per share data)

The Company’s foreign subsidiaries have available credit lines totaling approximately $ 8.3 million provided by a consortium of international financial institutions.

Loans Payable – Banks

May 2025, the Company and its domestic subsidiaries entered into a € 30

million senior unsecured revolving credit facility, which bears interest at the Euribor plus a margin of 1.65 %.

The line of credit which has a maturity date of April 18, 2026 , is expected to be renewed on an annual basis.

The company took out an advance on this line of credit in May 2025 of € 30 million and repaid the amount in full in September 2025.

The interest on this borrowing was 3.52 %.

The Company and its domestic subsidiaries have available a $ 25 million unsecured revolving line of credit due on demand, which bears interest at the Secured Overnight Financing Rate ("SOFR") plus 1.75 % (the SOFR was 3.87 % as of December 31, 2025 ).

The line of credit which has a maturity date of April 30, 2026 , is expected to be renewed on an annual basis.

The Company and its domestic subsidiaries have available a $ 20 million unsecured revolving line of credit due on demand, which bears interest at the SOFR plus a margin (the SOFR was 3.87 % as of December 31, 2025 ).

The line of credit, which has a maturity date of December 31, 2025 , is expected to be renewed on an annual basis.

Borrowings outstanding pursuant to all lines of credit were zero as of December 31, 2025 and 2024 .

The Company’s foreign subsidiaries have available credit lines totaling approximately $ 9.4 million (€ 8 million) provided by a consortium of international financial institutions.

These credit lines bear interest at the three-month Euribor rate plus 1.65 % ( Three-Month Euribor was 2.03 % at December 31, 2025 ).

Borrowings outstanding pursuant to lines of credit were $ 9.4 million and $ 8.3 million as of December 31, 2025 and 2024 .

The weighted average interest rate on short-term borrowings was 5.2 % and 4.5 % as of December 31, 2024 and 2023 .

The weighted average interest rate on these short-term borrowings was 5.2 % as of December 31, 2025 and 2024 .

Long-Term Debt

Long-term debt consists of the following:

$ 35.3 million (€ 30 million) payable in 72 monthly installments of approximately $ 0.5 million each beginning in June 2025 , bearing interest at one-month Euribor plus 0.88 %

$ 23.5 million (€ 20 million) payable in 72 monthly installments of approximately $ 0.3 million each beginning in June 2025 , bearing interest at 3.0 % per annum

$ 47.0 million (€ 40 million) payable in 36 monthly installments of approximately $ 1.3 million each beginning in August 2024, bearing interest at 4.03 % per annum

4 unchanged sentences

Less current maturities

INTERPARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2025 , 2024 and 2023

(In thousands except share and per share data)

In December 2025, the Company entered into an amendment with a Licensor that released the Company from its obligations to make further installment payments on the $ 15.0 million payable.

A gain of $ 7.6 million was recorded within Other income on the consolidated statement of income related to this debt extinguishment.

In June 2025, the Company entered into a $ 35.3 million ( € 30 million) three -year loan agreement.

The loan agreement bears interest at a variable rate of one-month Euribor plus a margin of 0.88 %.

In June 2025, the Company entered into a $ 23.5 million ( € 20 million) three -year loan agreement.

The loan agreement bears interest at 3.0 % per annum.

In July 2024, the Company entered into a $ 47.0 million (€ 40 million) three -year loan agreement.

1 unchanged sentence

In December 2022, to finance Interparfums SA’s acquisition of the Lacoste trademark, the Company entered into a $ 58.8 million (€ 50 million) four -year loan agreement.

The loan agreement bears interest at Euribor-1-month rates plus a margin of 0.825 %.

The loan agreement bears interest at one-month Euribor rates plus a margin of 0.825 %.

This variable rate debt was swapped for variable interest rate debt with a maximum rate of 2 % per annum.

4 unchanged sentences

Maturities of long-term debt subsequent to December 31, 2025 are approximately $ 54.8 million in 2026 , $ 35.1 million in 2027 , $ 25.6 million in 2028 , $ 25.7 million in 2029 , $ 24.4 million in 2030 , and $ 10.5 million thereafter through 2033 .

INTERPARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2024 , 2023 and 2022

(In thousands except share and per share data)

The Company leases offices, warehouses and vehicles, substantially all of which are classified as operating leases.

9 unchanged sentences

Noncash additions to operating lease assets totaled $ 0.8 million , $ 2.5 million , and $ 4.8 million in 2025 , 2024 , and 2023 , respectively.

Maturities of lease liabilities subsequent to December 31, 2024 are as follows:

(In thousands)

Less imputed interest (based on 3.2 % weighted-average discount rate)

INTERPARFUMS, INC.

3 unchanged sentences

(In thousands except share and per share data)

Maturities of lease liabilities subsequent to December 31, 2025 are as follows:

(In thousands)

Less imputed interest (based on 3.2 % weighted-average discount rate)

License Agreements

5 unchanged sentences

Royalty expense included in selling, general and administrative expenses, aggregated $ 121.7 million , $ 117.8 million and $ 103.8 million in 2025 , 2024 and 2023 , respectively, and represented 8.2 %, 8.1 % and 7.9 % of net sales for the years ended December 31, 2025 , 2024 and 2023 , respectively.

The Company entered into agreements in December 2024 to purchase additional property in Paris attached to its French headquarters for $ 12.4 million (€ 11.9 million) by May 30, 2025 after deducting the amount of escrow already paid.

INTERPARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2025, 2024 and 2023

(In thousands except share and per share data)

Share-Based Payments

13 unchanged sentences

Nonvested options – end of year

INTERPARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2024 , 2023 and 2022

(In thousands except share and per share data)

The effect of share-based payment expenses decreased income statement line items as follows:

3 unchanged sentences

Diluted earnings per share attributable to Interparfums, Inc.

INTERPARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2025, 2024 and 2023

(In thousands except share and per share data)

The following table summarizes stock option activity and related information for the years ended December 31, 2025 , 2024 and 2023 :

37 unchanged sentences

In March 2022, Interparfums SA, our 72 % owned French subsidiary, approved a plan to grant an aggregate of 88,400 shares to all Interparfums SA employees and corporate officers having more than six months of employment at grant date, subject to certain corporate performance conditions.

The shares, subject to adjustment for stock splits, will be distributed in June 2025.

The corporate performance conditions were met and therefore in June 2025, 106,046 shares, adjusted for stock splits, were distributed.

The fair value of the grant had been determined based on the quoted stock price of Interparfums SA shares as reported by the Euronext on the date of grant.

The estimated number of shares to be distributed of 104,418 has been determined taking into account employee turnover.

The aggregate cost of the grant of approximately $ 4.1 million will be recognized as compensation cost on a straight-line basis over the requisite three and a quarter year service period.

In order to avoid dilution of the Company’s ownership of Interparfums SA, all shares distributed or to be distributed pursuant to these plans will be pre-existing shares of Interparfums SA, purchased in the open market by Interparfums SA.

As of December 31, 2024 , the Company acquired 96,371 shares at an aggregate cost of $ 3.9 million.

The aggregate cost of the grant of approximately $ 4.2 million was recognized as compensation cost on a straight-line basis over the requisite three and a quarter year service period.

In order to avoid dilution of the Company’s ownership of Interparfums SA, all shares distributed or to be distributed pursuant to this plan were pre-existing shares of Interparfums SA, purchased in the open market by Interparfums SA.

As of December 31, 2025 , the Company had acquired 106,046 shares at an aggregate cost of $ 4.5 million.

In December 2025, Interparfums SA, approved a new performance-based free share plan to grant an aggregate of 137,900 shares to all Interparfums SA employees and corporate officers who are employed as of the final vesting date of March 1, 2029, subject to certain corporate performance conditions.

The fair value of the grant was determined based on the quoted stock price of Interparfums SA shares as reported by the Euronext on the date of the grant, adjusted for expected dividends over the vesting period and for performance conditions.

Based on the expected retention rate and probability of achieving performance conditions, the total estimated expense for the plan is approximately $ 2.3 million (€ 2 million), recognized on a straight-line basis over the 3.25 year vesting period.

In order to avoid dilution of the Company’s ownership of Interparfums SA, all shares to be distributed pursuant to this plan will be pre-existing shares of Interparfums SA, purchased in the open market by Interparfums SA.

As of December 31, 2025, the Company has not acquired any shares.

All share purchases and issuances have been classified as equity transactions on the accompanying consolidated balance sheet.

In February 2022, our Board of Directors authorized an annual dividend of $ 2.00 per share, payable quarterly.

In February 2023, our Board of Directors authorized an increase in the annual dividend to $ 2.50 per share and in February 2024, our Board of Directors increased the annual dividend to $ 3.00 per share.

In February 2025, our Board of Directors further increased the annual dividend to $ 3.20 per share.

The next quarterly cash dividend of $ 0.80 per share is payable on March 28, 2025 to shareholders of record on March 14, 2025 .

Treasury Stock

In December 2022 and continuing through 2023, our Board of Directors authorized a share repurchase program for our outstanding common stock up to 166,060 shares.

In February 2024, our Board of Directors authorized the Company to continue repurchasing up to 130,000 shares throughout 2024 and in February 2025, our Board of Directors again authorized the company to continue repurchasing up to 130,000 shares throughout 2025, which was increased to 260,000 shares in April 2025.

During 2025, the Company repurchased 145,125 shares at a cost of $ 13.9 million and during 2023, the Company repurchased 116,860 shares at a cost of $ 15.4 million.

No shares were repurchased during 2024.

These shares are classified as treasury stock on the accompanying consolidated balance sheet.

INTERPARFUMS, INC.

3 unchanged sentences

(In thousands except share and per share data)

During 2025, the cancellation of 1,093,950 of outstanding shares that were classified as treasury stock with $ 0 value was authorized by our Board of Directors on April 2, 2025 and by our shareholders at our 2025 Annual Meeting of Shareholders held on September 9, 2025.

The shares were cancelled on September 18, 2025 when the Certificate of Amendment was filed in Delaware.

As a result of the cancellation, these shares were removed from the number of treasury stock common shares as of December 31, 2025 on the accompanying consolidated balance sheet.

In February 2023, our Board of Directors authorized an annual dividend to $ 2.50 per share and in February 2024, our Board of Directors increased the annual dividend to $ 3.00 per share.

In February 2025, our Board of Directors further increased the annual dividend to $ 3.20 per share, and in 2026 our Board of Directors maintained the annual dividend at $ 3.20 per share.

The next quarterly cash dividend of $ 0.80 per share is payable on March 31, 2026 to shareholders of record on March 16, 2026 .

Net Income Attributable to Interparfums, Inc.

16 unchanged sentences

common shareholders:

Not included in the above computations is the effect of anti-dilutive potential common shares, which consist of outstanding options to purchase 47,250 , nil , and 38,000 shares of common stock for 2024 , 2023 , and 2022 , respectively.

Not included in the above computations is the effect of anti-dilutive potential common shares, which consist of outstanding options to purchase 0.1 million , 0.05 million , and nil shares of common stock for 2025 , 2024 , and 2023 , respectively.

INTERPARFUMS, INC.

37 unchanged sentences

Interest and investment income

Other (income) expense

Income before income taxes

10 unchanged sentences

Cost of sales

Eliminations (a)

Segment gross margin

7 unchanged sentences

Interest and investment income

Other (income) expense

Income before income taxes

14 unchanged sentences

Interest and investment income

Other (income) expense

Income before income taxes

37 unchanged sentences

Western Europe

Middle East and Africa

Eastern Europe

Middle East and Africa

Central and South America

23 unchanged sentences

Net deferred tax assets:

Foreign net operating loss carry-forwards

Inventory and accounts receivable

11 unchanged sentences

Net deferred tax assets

Valuation allowances have been provided for deferred tax assets relating to foreign net operating loss carry-forwards as future profitable operations from certain foreign subsidiaries might not be sufficient to realize the full amount of the deferred tax assets in 2023.

No valuation allowances were provided for deferred tax assets in 2024.

No other valuation allowances have been provided as management believes that it is more likely than not that the asset will be realized in the reduction of future taxable income.

The Company estimated the effect of foreign derived intangible income (“FDII”) and recorded a tax benefit of approximately $ 2.4 million , $ 2.4 million and $ 1.5 million as of December 31, 2024 , 2023 and 2022 , respectively.

The Company and its subsidiaries file income tax returns in the U.S.

federal, and various states and foreign jurisdictions.

The Company assessed its uncertain tax positions and determined that it has no material uncertain tax position at December 31, 2024 .

A tax audit of our Company’s French subsidiary was finalized in 2023 for the tax years 2020 and 2021 .

As a result of the audit’s conclusions, a one -time assessment of € 2.8 million ($ 3.1 million) was included in tax expense in the consolidated statements of income for the annual period ended December 31, 2023.

The Company’s French subsidiary is no longer subject to foreign tax examination for years before 2022 .

The Company's French subsidiary has been notified of an upcoming audit for tax years 2022 and 2023, to begin in 2025.

The Company is no longer subject to U.S.

federal, state, and local income tax examinations by tax authorities for years before 2021 .

( 1 ) As described in Note 1 , Correction of Immaterial Misstatements in Prior Period Financial Statements , the Company revised certain prior-period income tax disclosures to correct the classification of prepaid expenses that were previously presented as a deferred tax asset.

No valuation allowances have been provided for deferred tax assets in 2025 as management believes that it is more likely than not that the asset will be realized in the reduction of future taxable income.

A reconciliation of the provision for income taxes to the amount computed by applying the 21 % statutory U.S.

federal income tax rate to income before income taxes after the adoption of ASU 2023 - 09 is as follows:

Year ended December 31, 2025

(in thousands)

Statutory Rate

State and Local Income Taxes ( 1 )

Foreign Tax Effects

Foreign Rate Differential

Other Foreign Jurisdictions

Effects of Cross-Border Tax Laws

Nontaxable or Nondeductible Items

Changes in Unrecognized Tax Benefits

Other Adjustments

Amended Return Impacts

( 1 ) The states and local jurisdictions that contribute to the majority ( greater than 50 % ) of the tax effect in this category include New York State, New Jersey, and California.

INTERPARFUMS, INC.

3 unchanged sentences

(In thousands except share and per share data)

Differences between the United States federal statutory income tax rate and the effective income tax rate were as follows:

A reconciliation of the provision for income taxes to the amount computed by applying the 21 % statutory U.S.

federal income tax rate to income before taxes for years prior to the adoption of ASU 2023 - 09 is as follows:

Year ended December 31,

6 unchanged sentences

Effective rates

Below is a tabular reconciliation of the total amounts of unrecognized tax benefits ("UTBs").

Year ended December 31,

Gross increases - tax positions in prior period

Gross decreases - tax positions in prior period

Gross increases - tax positions in current period

Lapse of statute of Limitations

UTBs - December 31

Included in the balance of UTBs are tax benefits that, if recognized, would effect the effective tax rate are $ 0.45 million, $ 0 million and $ 0 million as of December 31, 2025, 2024 and 2023 , respectively.

The Company accrued interest and penalties of $ 0 during 2025 and in total, as of December 31, 2025, recognized a liability related to the UTBs noted above for interest and penalties of $ 0 .

The Company and its subsidiaries file income tax returns in the U.S.

federal, and various states and foreign jurisdictions.

A mutual agreement procedure between the French and United States tax authorities in 2025 resulted in a $ 3 million favorable outcome in which we were able to reclaim the tax assessment of € 2.8 million ($ 3.1 million) paid in France in 2023 .

The Company’s French subsidiary is no longer subject to foreign tax examination for years before 2022 .

Beginning in 2025 , the Company's French subsidiary is undergoing an audit for tax years 2022 and 2023 .

They have not been notified of any additional upcoming audits.

The Company is no longer subject to U.S.

federal, state, and local income tax examinations by tax authorities for years before 2022 .

INTERPARFUMS, INC.

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

December 31, 2025 , 2024 and 2023

(In thousands except share and per share data)

The amount of cash income taxes paid by the Company were as follows:

Year ended December 31, 2025

(in thousands)

State and Local

All other foreign

Income taxes, net of amounts refunded

Accumulated Other Comprehensive Loss

2 unchanged sentences

Net derivative instruments, beginning of year

Net derivative instrument (loss) gain, net of tax

Net derivative instrument gain (loss), net of tax

Net derivative instruments, end of year

Net pension benefits, beginning of year

Net pension benefits gain, net of tax

Net pension benefits (loss) gain, net of tax

Net pension benefits, end of year

Cumulative translation adjustments, beginning of year

Translation adjustments

Foreign currency translation adjustments

Cumulative translation adjustments, end of year

4 unchanged sentences

The Company incurred approximately $ 68 thousand and $ 48 thousand of expenses for these services in the year ended December 31, 2025 and 2024 , respectively.

The Company owed $ 34 thousand and $ 0 related to these expenses as of December 31, 2025 and 2024, respectively.

INTERPARFUMS, INC.

57 unchanged sentences

March 10, 2026

following documents previously filed with the Commission are incorporated by reference to the Company’s Annual Report on

Form 10-K for the fiscal year ended December 31, 2018:

Consulting Agreement with Jean Madar Holding SAS

Eighth Modification of Lease for portions of 551 5 th Avenue, New York, NY

Exhibits to Eighth Modification of Lease for portions of 551 5 th Avenue, New York, NY

Fourth Amendment to Lease for 60 Stults Road, South Brunswick, NJ

Form of Option Agreement for Options Granted to Executive Officers on December 31, 2018 with Schedule of Option Holders and Options Granted

following document previously filed with the Commission is incorporated by reference to the Company’s Current Report on

Form 8-K as filed on February 7, 2020:

Amendment to Consulting Agreement for Jean Madar Holding SAS

Patrick Bousquet-Chavanne

March 10, 2026

Herve Bouillonnec

March 10, 2026

Exhibit Index

following documents previously filed with the Commission are incorporated by reference to the Company’s Annual Report on

Form 10-K for the fiscal year ended December 31, 2019:

Consulting Agreement with Philippe Benacin Holding SAS

Restated Certificate of Incorporation dated September 3, 1987

Amendment to Restated Certificate of Incorporation dated July 31, 1992

Amendment to Restated Certificate of Incorporation dated July 9, 1993

Amendment to Restated Certificate of Incorporation, as amended, dated July 13, 1999

Amendment to Restated Certificate of Incorporation, as amended, dated July 12, 2000

Amendment to Restated Certificate of Incorporation dated August 6, 2004

Employment Agreement between the Company and Philippe Benacin dated July 29, 1991

Lease for portion of 15th Floor, 551 Fifth Avenue, New York, New York

Lease for 60 Stults Road, South Brunswick, NJ between Forsgate Industrial Complex, LP, and Jean Philippe Fragrances, Inc.

dated July 10, 1995

Third Amendment to Lease for 60 Stults Road, South Brunswick, NJ

Form of Option Agreement for Options Granted to Executive Officers on December 31, 2019 with Schedule of Option Holders and Options Granted

Lease for Interparfums SA Distribution Center (confidential information in this exhibit was omitted)

Agreement with Philippe Benacin Holding SAS

Certificate of Incorporation dated September 3, 1987

to Restated Certificate of Incorporation dated July 31, 1992

to Restated Certificate of Incorporation dated July 9, 1993

to Restated Certificate of Incorporation, as amended, dated July 13, 1999

to Restated Certificate of Incorporation, as amended, dated July 12, 2000

to Restated Certificate of Incorporation dated August 6, 2004

Agreement between the Company and Philippe Benacin dated July 29, 1991

for portion of 15th Floor, 551 Fifth Avenue, New York, New York

for 60 Stults Road, South Brunswick, NJ between Forsgate Industrial Complex, LP, and Jean Philippe Fragrances, Inc.

July 10, 1995

Amendment to Lease for 60 Stults Road, South Brunswick, NJ

for Interparfums SA Distribution Center (confidential information in this exhibit was omitted)

following documents previously filed with the Commission are incorporated by reference to the Company’s Annual Report on

1 unchanged sentence

Stock Option Plan

following documents previously filed with the Commission are incorporated by reference to the Company’s Annual Report on

Form 10-K for the fiscal year ended December 31, 2022:

Consent of Mazars USA LLP

Certification Required by Rule 13a-14 of Chief Executive Officer

Certification Required by Rule 13a-14 of Chief Financial Officer

Certification Required by Section 906 of the Sarbanes-Oxley Act by Chief Executive Officer

following document previously filed with the Commission is incorporated by reference to the Company’s Current Report on

Form 8-K as filed on April 20, 2023:

Amendment to Service Agreement (formerly Consulting Agreement) for Jean Madar Holding SAS

to Service Agreement (formerly Consulting Agreement) for Jean Madar Holding SAS

The following document previously filed with the Commission is incorporated by reference to the Company’s Current Report on Form 10-K for the fiscal year ended December 31, 2023 :

List of Subsidiaries

Consent of Mazars USA LLP

3 unchanged sentences

Certification Required by Section 906 of the Sarbanes -Oxley Act by Chief Executive Officer

Exhibits Filed and Attached to this Report:

The following documents are filed with this report, the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 :

The following documents previously filed with the Commission are incorporated

by reference to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31,

Non qualified Stock Option Agreeme nt for Michel Atwood dated December

2 unchanged sentences

Trading Policy

List of Subsidiaries

Consent of Forvis Mazars, LLP

5 unchanged sentences

Recovery of Erroneously Awarded Incentive Base Compensation

The following documents are filed

with this report, the Company’s Annual Report on Form 10-K for the fiscal year

ended December 31, 2025:

Consulting Agreement with Jean Madar Holding SAS ( previously filed with the Commission )

Eighth Modification of Lease for portions of 551 5th Avenue, New York, NY ( previously filed with the Commission )

Exhibits to Eighth Modification of Lease for portions of 551 5th Avenue, New York, NY ( previously filed with the Commission )

Amendment to Consulting Agreement for Jean Madar Holding SAS ( previously filed with the Commission )

Stock Option Agreement for Michel Atwood dated December 31, 2025

Stock Option Agreement for Herve Bouillonnec dated December 31, 2025

Nonqualified Stock Option Agreement for Herve Bouillonnec dated December 31, 2024

Nonqualified Stock Option Agreement for Herve Bouillonnec dated December 29, 2023

Nonqualified Stock Option Agreement for Herve Bouillonnec dated December 30, 2022

of Forvis Mazars, LLP

Mazars USA LLP

Certification

Required by Rule 13a-14 of Chief Executive Officer

Certification

Required by Rule 13a-14 of Chief Financial Officer

Certification

Required by Section 906 of the Sarbanes-Oxley Act by Chief Executive Officer

Certification

Required by Section 906 of the Sarbanes-Oxley Act by Chief Executive Officer

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 9A. Controls and Procedures