[Form 4] Caleres Inc Insider Trading Activity

Rhea-AI Filing Summary

Kathleen K. Welter, SVP and Chief HR Officer of Caleres Inc. (CAL), acquired 19,443 shares of common stock on 09/08/2025 through the vesting of restricted stock. The reported transaction shows an acquisition price of $0 and indicates 19,443 shares beneficially owned following the transaction. The form lists the ownership form as direct and includes an explanation that the restricted stock vests one-third each year. The filing was signed by Thomas C. Burke as attorney-in-fact on 09/09/2025.

Positive

• Acquisition documented: 19,443 shares acquired via restricted stock vesting, increasing direct ownership to 19,443 shares
• Clear vesting schedule: Restricted stock vests one-third each year, providing transparency on future vesting
• Timely filing: Transaction dated 09/08/2025 with signature recorded 09/09/2025 by attorney-in-fact

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine insider stock vesting; modest share acquisition with no cash purchase, minimal immediate market impact.

The Form 4 shows a non-cash acquisition of 19,443 common shares via restricted stock vesting. Because the price is reported as $0, this reflects compensation vesting rather than an open-market purchase. The disclosure increases the reporting person's direct shareholdings to 19,443 shares, but the filing provides no valuation, total outstanding share context, or sale activity. For investors, this is a routine insider compensation event and not a material corporate action by itself.

Corporate Governance Expert

TL;DR: Standard executive compensation disclosure; vesting schedule is disclosed but no governance concerns indicated.

The report identifies Kathleen K. Welter as the reporting officer (SVP, Chief HR Officer) and documents restricted stock vesting with a one-third-per-year schedule. The filing is timely and signed by an attorney-in-fact. There are no indications of sales, option exercises, or special arrangements that would raise governance flags. Disclosure is consistent with routine equity compensation practices.

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

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Welter Kathleen K

(Last) (First) (Middle)

8300 MARYLAND AVE.

(Street)

ST. LOUIS MO 63105

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CALERES INC [ CAL ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, Chief HR Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/08/2025

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	09/08/2025		A		19,443(1)	A	$0	19,443	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

Explanation of Responses:

1. Restricted stock vests 1/3 each year.

	Thomas C. Burke, Attny in Fact for Kathleen K Welter	09/09/2025
	** 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

What transaction did Kathleen K. Welter report on Form 4 for CAL?

She reported the acquisition of 19,443 shares of Caleres Inc. common stock on 09/08/2025 via restricted stock vesting.

What price was reported for the shares acquired by Kathleen K. Welter (CAL)?

The transaction lists a reported price of $0, indicating the shares vested as compensation rather than purchased.

How many shares does Kathleen K. Welter beneficially own after the reported transaction?

The Form 4 reports 19,443 shares beneficially owned following the transaction.

What is the vesting schedule for the restricted stock reported on CAL Form 4?

The filing states the restricted stock vests one-third each year.

Who signed the Form 4 for Kathleen K. Welter and when?

The Form 4 is signed by Thomas C. Burke, attorney-in-fact for Kathleen K. Welter on 09/09/2025.