Caleres grants CFO 29,845 stock award units

Caleres granted its CFO a performance-based stock price incentive award tied to multi-year share price hurdles.

Rhea-AI Filing Summary

CALERES INC (symbol: CAL) is the issuer of record for a Form 4 filing submitted to the SEC. Karpel Daniel L reported acquisition or exercise transactions in this Form 4 filing.

CALERES INC (CAL) reported that its SVP and Chief Financial Officer, Daniel L. Karpel, received a grant of 29,845 Stock Price Incentive Award units on September 11, 2026. Each unit represents a contingent right to one share of common stock, vesting in three stock-price-based tranches over a fiscal 2026–2028 performance period.

Insider Trade Summary

Grant/Award: 29,845 shares

Grant/Award 1 txn

Insider Karpel Daniel L

Role SVP, Chief Financial Officer

Type	Security	Shares	Price	Value
Grant/Award	Stock Price Incentive Award F1	29,845	$0.00	$0.00

Holdings After Transaction: Stock Price Incentive Award — 29,845 contracts (Direct)

Footnotes (1)

1. F1. Each Stock Price Incentive Award share represents a contingent right to receive one share of Common Stock. The Stock Price Incentive Award vests in three tranches based upon the per share price of the Company's Common Stock reaching certain specified stock price levels for 20 consecutive trading days, with 50% vesting upon achievement of the first price level, 25% vesting upon achievement of the second price level and 25% vesting upon achievement of the third price level. Earned awards are payable in increments over a three-year performance period (fiscal year 2026 - 2028).

Key Figures

Stock Price Incentive Award units granted: 29,845 units Reported grant price per unit: $0.00 per unit Units held after transaction: 29,845 units +3 more

6 metrics

Stock Price Incentive Award units granted 29,845 units Grant to CFO Daniel L. Karpel on September 11, 2026

Reported grant price per unit $0.00 per unit Stock Price Incentive Award grant on September 11, 2026

Units held after transaction 29,845 units Direct holdings of Stock Price Incentive Award units after grant

Vesting allocation 50% / 25% / 25% Three tranches tied to successive stock price levels

Performance period Fiscal years 2026–2028 Earned awards payable in increments over three years

Consecutive trading days requirement 20 trading days Stock price must meet each level for 20 consecutive trading days to vest

Key Terms

Stock Price Incentive Award, contingent right, performance period, trading days

4 terms

Stock Price Incentive Award financial

"Each Stock Price Incentive Award share represents a contingent right"

contingent right financial

"represents a contingent right to receive one share of Common Stock"

performance period financial

"Earned awards are payable in increments over a three-year performance period"

The performance period is the specific time span over which an investment’s results, an employee’s targets, or a fund’s returns are measured and judged. It matters to investors because the length and start/end of that window determine which gains or losses count toward performance fees, bonus payouts, or benchmark comparisons—much like timing a race decides who wins, the chosen period can change whether results look strong or weak.

trading days financial

"for 20 consecutive trading days, with 50% vesting"

Trading days are the specific days when a stock exchange is open and buying and selling of securities can occur, excluding weekends and exchange-declared holidays. Investors use trading days to measure performance, calculate settlement deadlines and time-sensitive events—think of them as the business hours calendar for markets, where returns, volumes and deadlines are counted only on days the market is operating.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What equity award did CAL (Caleres) grant to its CFO?

Caleres granted Daniel L. Karpel 29,845 Stock Price Incentive Award units, each a contingent right to one share of common stock, awarded on September 11, 2026, with vesting based on the company’s stock reaching specified price levels.

How do the Caleres (CAL) Stock Price Incentive Awards vest?

The Stock Price Incentive Award vests in three tranches: 50% at the first stock price level, 25% at the second, and 25% at the third, each requiring the share price to meet specified levels for 20 consecutive trading days.

What is the performance period for the CAL CFO’s stock price awards?

Earned Stock Price Incentive Awards are payable in increments over a three-year performance period covering fiscal years 2026–2028, aligning the award with multi-year company performance.

What is the exercise or purchase price of the CAL Stock Price Incentive Award?

The transaction reports a $0.00 price per unit, reflecting that this is a grant of contingent rights to receive common stock rather than a market purchase.

:How many Stock Price Incentive Award units does the CAL CFO hold after this grant?

Following the reported grant, Daniel L. Karpel holds 29,845 Stock Price Incentive Award units directly, each representing a contingent right to receive one share of Caleres common stock if performance conditions are met.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/15/2026 - 06:03 PM Accepted by SEC EDGAR 09/15/2026 - 06:03 PM Learn about SEC filing dates

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^*

Karpel Daniel L

(Last) (First) (Middle)

8300 MARYLAND AVENUE

(Street)

ST. LOUIS MISSOURI 63105

(City) (State) (Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/11/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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

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
Stock Price Incentive Award	(1)	09/11/2026		A		29,845		(1)	(1)	Common Stock	29,845	$0	29,845	D

Explanation of Responses:

1. Each Stock Price Incentive Award share represents a contingent right to receive one share of Common Stock. The Stock Price Incentive Award vests in three tranches based upon the per share price of the Company's Common Stock reaching certain specified stock price levels for 20 consecutive trading days, with 50% vesting upon achievement of the first price level, 25% vesting upon achievement of the second price level and 25% vesting upon achievement of the third price level. Earned awards are payable in increments over a three-year performance period (fiscal year 2026 - 2028).

	Thomas C. Burke, Attny in Fact for Daniel L Karpel	09/15/2026
	** 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.
* Form 4: SEC 1474 (03-26)