Designer Brands director receives 803 dividend-based stock units

Designer Brands Inc. director reports new stock units from dividends.

Rhea-AI Filing Summary

Designer Brands Inc. director reports new stock units from dividends. A director of Designer Brands Inc. (DBI) reported receiving 803 stock units on 12/19/2025. These units represent dividend equivalent rights that accrued on previously awarded stock units, meaning the director earns stock-based credits in place of cash dividends.

Each stock unit gives a contingent right to receive one share of the company’s Class A common stock. The stock units vest on the grant date and will be converted into an equal number of Class A shares when the director’s service on the Board of Directors ends. Following this grant, the director beneficially owns 123,293 stock units, a figure that includes accumulated dividend equivalent rights.

Insider Trade Summary

Grant/Award: 803 shares

Grant/Award 1 txn

Insider Zaiac Joanne

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Stock Unit	803	$0.00	$0.00

Holdings After Transaction: Stock Unit — 123,293 contracts (Direct)

Footnotes (4)

1. F1. Each stock unit represents a contingent right to receive one share of the Issuer's Class A common stock.
2. F2. Shares represent dividend equivalent rights accrued on previously awarded stock units.
3. F3. The stock unit becomes vested upon the date of grant and will be converted to an equal number of shares of Issuer's Class A common stock upon Insider's termination of service from the Board of Directors.
4. F4. Total includes accrued dividend equivalent rights.

FAQ

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

What insider transaction did Designer Brands Inc. (DBI) disclose?

A director reported the grant of 803 stock units on 12/19/2025, representing dividend equivalent rights on previously awarded stock units.

What does each stock unit represent for Designer Brands Inc. (DBI)?

Each stock unit represents a contingent right to receive one share of Designer Brands Inc.'s Class A common stock.

When do the reported DBI stock units vest and convert to shares?

The stock units vest on the date of grant and will convert into an equal number of Class A common shares upon the director’s termination of service from the Board.

Why were 803 new stock units granted to the DBI director?

The 803 stock units were granted as dividend equivalent rights that accrued on previously awarded stock units instead of paying cash dividends.

How many stock units does the DBI director beneficially own after this transaction?

After the transaction, the director beneficially owns 123,293 stock units, including units from accrued dividend equivalent rights.

Are the reported DBI stock units held directly or indirectly?

The filing shows the director holds 123,293 derivative securities in a direct ownership form.

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

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Accepted by SEC EDGAR 12/23/2025 - 04:18 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^*

Zaiac Joanne

(Last) (First) (Middle)

810 DSW DRIVE

(Street)

COLUMBUS OH 43219

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Designer Brands Inc. [ DBI ]

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)
12/19/2025

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
Stock Unit	(1)	12/19/2025		A		803(2)		(3)	(3)	Class A Common Shares	803	$0.0000	123,293(4)	D

Explanation of Responses:

1. Each stock unit represents a contingent right to receive one share of the Issuer's Class A common stock.

2. Shares represent dividend equivalent rights accrued on previously awarded stock units.

3. The stock unit becomes vested upon the date of grant and will be converted to an equal number of shares of Issuer's Class A common stock upon Insider's termination of service from the Board of Directors.

4. Total includes accrued dividend equivalent rights.

	Katherine Alfano, Attorney-in-Fact	12/23/2025
	** 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.