[Form 4] The Buckle, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Streeterville Capital LLC, Streeterville Management LLC and their principal John M. Fife have become 9.9% beneficial owners of Garden Stage Ltd (GSIW). In a Schedule 13G dated 24 July 2025, the group disclosed ownership of 7,110,764 ordinary shares out of 71,178,820 shares outstanding. All voting and dispositive rights are held solely by the reporting persons; no shared power is reported.

The filing—made under Rule 13d without any stated intent to influence control—classifies the entities as “OO” (other) investors. Address information shows operations managed from Chicago, while the issuer is headquartered in Hong Kong. The certification affirms the stake was acquired for investment purposes only.

Positive

• Streeterville group reveals a 9.9% position, introducing a sizeable outside shareholder that may enhance share liquidity and institutional visibility.

Negative

• None.

Insights

Securities Analyst

TL;DR: 9.9% stake signals a new large holder; no control intent disclosed—market impact likely limited unless stake grows.

The Schedule 13G introduces Streeterville Capital and related parties as the fourth-largest shareholder, just shy of the 10% threshold that would trigger additional regulatory obligations. Because the group retains sole voting/dispositive power but expressly disclaims any control motive, the filing is largely informational. The 9.9% cap suggests the investors wish to avoid insider status, reducing immediate governance implications. While a stake of this size may boost liquidity perceptions and indicates external confidence, there is no accompanying capital infusion or strategic partnership, keeping the net effect neutral.

Corporate Governance Expert

TL;DR: Passive 13G filing adds a significant shareholder; governance risk appears low given no group or control ambitions.

From a governance standpoint, the disclosure satisfies SEC transparency rules, enabling other investors to gauge ownership concentration. The sole-power structure and passive certification lessen the likelihood of proxy influence or board challenges. However, the presence of one individual—John M. Fife—as ultimate owner of the entire block centralises influence should objectives change. Investors should monitor future filings (13D amendments or Form 4s) for any shift above the 10% mark or a move to an active stance.

07/24/2025 - 02:44 PM

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^*

SHADA JAMES E

(Last) (First) (Middle)

2407 W 24TH STREET

(Street)

KEARNEY NE 68845

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BUCKLE INC [ BKE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/22/2025

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								3,687	D
Common Stock	07/22/2025		S		10,000	D	$49.8387	85,352	I	By Trust
Common Stock	07/23/2025		S		10,000	D	$49.983	75,352	I	By Trust

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

Explanation of Responses:

Remarks:

	Thomas B. Heacock by Power of Attorney	07/24/2025
	** 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.

FAQ

How many Garden Stage (GSIW) shares does Streeterville own?

The filing reports 7,110,764 ordinary shares beneficially owned.

What percentage of Garden Stage’s outstanding shares is held?

Streeterville's stake equals 9.9% of the 71,178,820 shares outstanding as of 24 July 2025.

Does the investor have control intentions over GSIW?

No. The certification states the shares were not acquired to influence control of the issuer.

Who signed the Schedule 13G for Streeterville?

John M. Fife signed as President of both Streeterville entities and in his individual capacity.

Under which SEC rule was this Schedule 13G filed?

The box selections indicate filing under the passive investment provisions of Rule 13d-1 (exact subsection not specified).