Designer Brands director granted 1,434 stock units

Designer Brands Inc. director Peter Cobb received a grant of 1,434 stock units on April 10, 2026.

Rhea-AI Filing Summary

Designer Brands Inc. director Peter Cobb received a grant of 1,434 stock units on April 10, 2026. Each stock unit represents a contingent right to receive one Class A common share, reflecting dividend equivalent rights accrued on previously awarded stock units.

The stock units vest on the grant date and will be converted into an equal number of Class A common shares when Cobb’s service on the Board of Directors ends. Following this grant, Cobb directly holds 191,813 stock units and related rights.

Insider Trade Summary

Grant/Award: 1,434 shares

Grant/Award 1 txn

Insider Cobb Peter

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Stock Unit	1,434	$0.00	$0.00

Holdings After Transaction: Stock Unit — 191,813 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.

Key Figures

Stock units granted: 1,434 stock units Holdings after transaction: 191,813 stock units Price per unit: $0.00 per unit +1 more

4 metrics

Stock units granted 1,434 stock units Grant/award on April 10, 2026

Holdings after transaction 191,813 stock units Total direct holdings following grant, including dividend equivalents

Price per unit $0.00 per unit Grant price for awarded stock units

Underlying shares per unit 1 share per unit Each stock unit equals one Class A common share

Key Terms

Stock Unit, dividend equivalent rights, Class A common stock, termination of service from the Board of Directors

4 terms

Stock Unit financial

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

dividend equivalent rights financial

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

Dividend equivalent rights are promises that mirror the cash payments shareholders get from a company’s profits, but they are paid to holders of certain awards (like stock options or restricted stock units) rather than to actual shares. Think of them as a paycheck top‑up that matches dividends while the award is not yet a real stock, and they matter to investors because they add to employee compensation costs and potential share dilution, affecting company profitability and per‑share value.

Class A common stock financial

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

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

termination of service from the Board of Directors financial

"converted to an equal number of shares ... upon Insider's termination of service from the Board of Directors."

FAQ

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

What insider transaction did Designer Brands (DBI) report for Peter Cobb?

Designer Brands reported that director Peter Cobb acquired 1,434 stock units as a grant. These units represent dividend equivalent rights tied to earlier awards and convert into Class A common shares when his Board service ends, increasing his direct equity-linked holdings.

How many Designer Brands (DBI) stock units does Peter Cobb hold after this Form 4?

After the reported grant, Peter Cobb holds 191,813 stock units and related rights. This total includes the newly awarded 1,434 units and previously accrued dividend equivalent rights, all linked to Designer Brands’ Class A common shares under the company’s director compensation structure.

What do the 1,434 stock units reported for DBI’s Peter Cobb represent?

The 1,434 stock units represent dividend equivalent rights accrued on earlier stock unit awards. Each unit is a contingent right to receive one Designer Brands Class A common share, giving Cobb additional equity exposure without an immediate cash purchase or open-market transaction.

When will Peter Cobb receive Designer Brands (DBI) shares from these stock units?

The stock units become vested on the grant date but convert into Class A common shares only when Cobb’s Board service ends. At that termination of service, each unit is exchanged for one share, aligning director compensation with long-term company performance and tenure.

Are the Designer Brands (DBI) stock units granted to Peter Cobb immediately vested?

Yes. The filing states the stock units become vested on the grant date. Although vested immediately, they will not convert into Class A common shares until Peter Cobb’s termination of service from the Board of Directors, creating a deferred delivery of actual shares.

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

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Accepted by SEC EDGAR 04/14/2026 - 02:38 PM EDT 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^*

Cobb Peter

(Last) (First) (Middle)

810 DSW DRIVE

(Street)

COLUMBUS OHIO 43219

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/10/2026

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 Unit	(1)	04/10/2026		A		1,434(2)		(3)	(3)	Class A Common Shares	1,434	$0.0000	191,813(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	04/14/2026
	** 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)