SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* KRAKOFF REED (Last) (First) (Middle) 516 WEST 34TH STREET (Street) NEW YORK NY 10001 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol COACH INC [ COH ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Pres, Exec Creative Director
	3. Date of Earliest Transaction (Month/Day/Year) 08/09/2007
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/11/2007		M		32,000	A	$43.47	56,242	D
Common Stock(1)	08/11/2007		F		15,296	D	$43.47	40,946	D
Common Stock	08/13/2007		M		24,634	A	$29.85	65,580	D
Common Stock(2)	08/13/2007		F		19,979	D	$47	45,601	D
Common Stock(3)	08/13/2007		S		4,655	D	$47	40,946	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Unit(4)	(5)	08/09/2007		A		8,900		08/09/2010(6)	(7)	Common Stock	8,900	$0	8,900	D
Restricted Stock Unit	(5)	08/11/2007		M			32,000	08/11/2007(8)	(7)	Common Stock	32,000	$0	0.00	D
Stock Option(9)	$45.13	08/09/2007		A		473,000		08/09/2008(10)	08/09/2017	Common Stock	473,000	$0	473,000	D
Stock Option	$29.85	08/13/2007		M			24,634	08/09/2007(10)	08/09/2016	Common Stock	24,634	$0	675,366	D

Explanation of Responses:

1. These shares were withheld to pay for the taxes in connection with the conversion of derivative securities described above.

2. These shares were sold to pay for the cost of, and the taxes and fees associated with, the exercise of the derivative securities described above.

3. Proceeds from these sales (net of income taxes) will be used for major restorations to Mr. Krakoff?s primary residences in New York City and East Hampton, NY.

4. These securities were issued under the 2004 Stock Incentive Plan of the Issuer.

5. This security will convert on a 1-for-1 basis into shares of the issuer's common stock.

6. These service-based securities will vest on the third anniversary of the date of grant, based solely on the reporting person's continued employment with the issuer. Unvested units are cancelled upon termination of the reporting person's employment.

7. These securities do not expire.

8. These restricted stock units will vest as set forth in the reporting person's Employment Agreement, based solely on his continued employment with the Issuer. Unvested units are cancelled upon termination of the reporting person's employment, subject to certain conditions set forth in such agreement.

9. These securities were issued under the 2000 Stock Incentive Plan of the Issuer.

10. These options vest in three equal installments on the first, second and third anniversaries of the date of grant.

	By: Daniel J. Ross, Assistant Secretary, pursuant to a power of attorney filed with the Commission	08/13/2007
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.