DAN Form 4: SVP Liedberg adds 1,158 dividend-equivalent rights to reach 6,018 shares

Rhea-AI Filing Summary

Douglas H. Liedberg, Senior Vice President, General Counsel and Secretary of Dana Inc. (DAN), reported an internal transaction dated 08/29/2025 on a Form 4. The filing shows the acquisition of 1,158 dividend equivalent rights tied to previously granted restricted stock units; each right is the economic equivalent of one share of Dana common stock. After this transaction, Mr. Liedberg beneficially owned 6,018 shares on a direct basis. The reported per-unit price is listed as $0.0000, and the form was signed on behalf of the reporting person on 09/02/2025.

Positive

• Insider ownership increased by 1,158 dividend-equivalent rights, raising direct beneficial ownership to 6,018 shares.
• Clear disclosure that the acquired items are dividend equivalents on existing restricted stock units, which supports transparency under Section 16 reporting rules.

Negative

• None.

Insights

Securities Analyst

TL;DR: Officer acquired 1,158 dividend-equivalent rights, modestly increasing direct holdings to 6,018 shares; transaction appears routine and non-cash.

The Form 4 documents a non-cash accrual conversion: dividend equivalents on existing restricted stock units became exercisable and are treated as the economic equivalent of 1,158 shares. The reported price of $0.0000 indicates these are not market purchases but contractual/compensatory instruments becoming exercisable. The size of the increase (~1.158k shares) is small relative to institutional holdings and thus likely immaterial to DAN's market valuation, but it increases insider alignment with shareholders.

Corporate Governance Expert

TL;DR: This is an administrative disclosure of compensatory dividend equivalents becoming exercisable; governance implications are routine and limited.

The explanation clarifies these are dividend equivalent rights tied to previously granted restricted stock units, a common executive compensation feature. The filing identifies the reporter's role as SVP, General Counsel and Secretary and lists direct ownership. There is no indication of option exercises, open-market trades, or dilution events in this filing. From a governance perspective, the disclosure meets Section 16 reporting requirements and raises no immediate red flags.

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
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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^*

Liedberg Douglas H

(Last) (First) (Middle)

3939 TECHNOLOGY DRIVE

(Street)

MAUMEE OH 43537

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
DANA Inc [ DAN ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, General Counsel and Secty

3. Date of Earliest Transaction (Month/Day/Year)
08/29/2025

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

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
Dividend Equivalent Rights	(1)	08/29/2025		A		1,158		(1)	(1)	Common Stock, par value $0.01	1,158	$0.0000	6,018	D

Explanation of Responses:

1. Dividend equivalent rights accrued on previously granted restricted stock units and become exercisable proportionately with the restricted stock units to which they relate. Each dividend equivalent right is the economic equivalent of one share of Dana common stock.

	/s/ Laura L. Aossey on behalf of Douglas H. Liedberg	09/02/2025
	** 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 did Dana (DAN) insider Douglas H. Liedberg report on Form 4?

The Form 4 reports the acquisition of 1,158 dividend equivalent rights related to previously granted restricted stock units, increasing direct beneficial ownership to 6,018 shares.

When was the transaction dated and when was the Form 4 signed?

The transaction date is 08/29/2025 and the Form 4 was signed on behalf of the reporting person on 09/02/2025.

What is a dividend equivalent right as described in the filing?

The filing states each dividend equivalent right is the economic equivalent of one share of Dana common stock and accrues on restricted stock units.

Was this an open-market purchase or an exercise?

No. The transaction is non-cash: dividend equivalents accrued on restricted stock units and became exercisable; the reported price is $0.0000.

How is ownership reported on the Form 4?

Ownership is reported as Direct (D) and shows 6,018 shares beneficially owned following the reported transaction.