[Form 4] CALERES INC Insider Trading Activity

Rhea-AI Filing Summary

Jack Calandra, SVP and Chief Financial Officer of Caleres Inc. (CAL), reported a sale of 4,671 shares of Caleres common stock on 09/12/2025 at a price of $15.22 per share. After the sale, the filing shows 63,374 shares held directly and an additional 143 shares indirectly through a 401(k) plan. The Form 4 was signed on behalf of the reporting person by an attorney on 09/15/2025.

Positive

• Timely disclosure of the insider transaction filed on Form 4 with required details
• Clear breakdown of direct (63,374) and indirect (143 via 401(k)) holdings

Negative

• Insider sale of 4,671 shares at $15.22 reduces the CFO's direct holdings
• No stated plan (e.g., 10b5-1) disclosed in the form to explain the sale

Insights

Securities Analyst

TL;DR: Insider sale by Caleres CFO of 4,671 shares at $15.22 indicates a reported disposition but no additional context on intent.

The filing documents a single non-derivative sale by the CFO on 09/12/2025 for 4,671 shares at $15.22. Post-transaction, the CFO retains 63,374 shares directly and 143 shares indirectly via a 401(k). This is a routine Section 16 disclosure showing compliance with reporting requirements; the filing does not include any information about planned future transactions, rule 10b5-1 plans, or motives for the sale. Without company-wide share counts or percentage ownership, the transaction's impact on control or valuation cannot be assessed from this form alone.

Corporate Governance Expert

TL;DR: The Form 4 reflects timely reporting of an insider sale, filed via attorney signature, with no indicia of noncompliance.

The document shows the reporting person used a legal representative to sign the Form 4 on 09/15/2025, three days after the transaction date of 09/12/2025. The disclosure identifies direct and indirect holdings and notes the indirect portion is held in a 401(k) plan. The filing contains no amendment flag and lists the filer as a single reporting person. There are no derivative transactions reported. From a governance perspective, the form meets the basic disclosure elements required by Section 16 as presented.

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).

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^*

Calandra Jack

(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 Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/12/2025

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	09/12/2025		F		4,671	D	$15.22	63,374	D
Common Stock								143	I	Indirect holding through 401(k) Plan

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:

	Thomas C. Burke, Attny in Fact for Jack Calandra	09/15/2025
	** 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 CAL CFO Jack Calandra report on Form 4?

The Form 4 reports a sale of 4,671 shares of Caleres common stock on 09/12/2025 at $15.22 per share.

How many Caleres (CAL) shares does Jack Calandra own after this transaction?

After the reported sale the filing shows 63,374 shares owned directly and 143 shares held indirectly through a 401(k) plan.

Was the Form 4 for CAL filed by more than one reporting person?

No. The form indicates it was filed by one reporting person.

When was the Form 4 signed and by whom?

The Form 4 was signed on behalf of Jack Calandra by Thomas C. Burke, Attorney-in-Fact on 09/15/2025.

Does the filing report any derivative transactions or 10b5-1 plan?

No derivative transactions are reported and the form does not indicate a transaction pursuant to a 10b5-1 plan.