Designer Brands holder sells 15,000 call options

The 10% owner reported no remaining call options after the sale and 5.5 million Class A common shares following the transaction.

Rhea-AI Filing Summary

Designer Brands Inc. (DBI) reported that SH Capital Partners, L.P., the record and direct beneficial owner of the securities covered, sold 15,000 call options on October 6, 2026, at a reported price of $0.145 per share. The options covered 1,500,000 Class A common shares, had a $10.00 exercise price and a January 15, 2027 expiration date. After the sale, SH Capital Partners reported 0 call options and 5,500,000 Class A common shares. No Rule 10b5-1 plan is reported.

Insider Trade Summary

Net Seller: 15,000 shares

Net Sell 2 txns

Insider Stone House Capital Management, LLC, SH Capital Partners, L.P., Cohen Mark A.

Role Insider | 10% Owner | Insider

Sold 15,000 shs ($2K)

Type	Security	Shares	Price	Value
Sale	Call Option (right to buy) F1, F2, F3	15,000	$0.145	$2K
holding	Class A Common Shares, without par value F1, F2, F3	--	--	--

Holdings After Transaction: Call Option (right to buy) — 0 contracts (Indirect, See Footnotes); Class A Common Shares, without par value — 5,500,000 shares (Indirect, See Footnotes)

Footnotes (3)

1. F1. This statement is jointly filed by and on behalf of each of Stone House Capital Management, LLC ("Stone House"), SH Capital Partners, L.P. ("Partners") and Mark Cohen. Partners is the record and direct beneficial owner of the securities covered by this statement. Stone House is the general partner and investment manager of, and may be deemed to beneficially own securities owned by, Partners. Mr. Cohen is the managing member of, and may be deemed to beneficially own securities owned by, Stone House.
2. F2. Each reporting person states that neither the filing of this statement nor anything herein shall be deemed an admission that such person is, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Act") or otherwise, the beneficial owner of any securities covered by this statement. Each reporting person disclaims beneficial ownership of the securities covered by this statement, except to the extent of the pecuniary interest of such person in such securities.
3. F3. Each reporting person may be deemed to be a member of a group with respect to Designer Brands Inc. (the "Issuer") or securities of the Issuer for purposes of Section 13(d) or 13(g) of the Act. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, a member of a group with respect to the Issuer or securities of the Issuer.

Key Figures

Call options sold: 15,000 call options Reported transaction price: $0.145 per share Underlying shares: 1,500,000 Class A common shares +4 more

7 metrics

Call options sold 15,000 call options October 6, 2026 transaction

Reported transaction price $0.145 per share Sale of call options on October 6, 2026

Underlying shares 1,500,000 Class A common shares Shares covered by the call options

Exercise price $10.00 Call options

Call options following transaction 0 call options Reported after the October 6, 2026 sale

Class A common shares following transaction 5,500,000 shares Reported by SH Capital Partners after the transaction

Expiration date January 15, 2027 Call options

Key Terms

Call Option (right to buy), beneficial owner, pecuniary interest

3 terms

Call Option (right to buy) financial

"Call Option (right to buy)"

beneficial owner financial

"Partners is the record and direct beneficial owner"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

pecuniary interest regulatory

"except to the extent of the pecuniary interest"

FAQ

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

How many DBI call options did SH Capital Partners sell?

SH Capital Partners sold 15,000 call options on October 6, 2026, at a reported price of $0.145 per share.

What holdings did SH Capital Partners report after the DBI option sale?

After the sale, SH Capital Partners reported 0 call options and 5,500,000 Class A common shares.

What were the exercise price and expiration date of the DBI call options?

The options had a $10.00 exercise price and covered 1,500,000 Class A common shares. Their expiration date was January 15, 2027.

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

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Available on EDGAR 10/07/2026 - 04:16 PM Accepted by SEC EDGAR 10/07/2026 - 04:16 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^*

Stone House Capital Management, LLC

(Last) (First) (Middle)

1019 KANE CONCOURSE, SUITE 202

(Street)

BAY HARBOR ISLANDS FLORIDA 33154

(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)

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Member of a 10% Group

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/06/2026

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

	Form filed by One Reporting Person
X	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
Class A Common Shares, without par value								5,500,000	I	See Footnotes(1)(2)(3)

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
Call Option (right to buy)	$10	10/06/2026		S			15,000	04/04/2025	01/15/2027	Class A Common Shares, without par value	1,500,000	$0.145	0	I	See Footnotes(1)(2)(3)

1. Name and Address of Reporting Person^*

Stone House Capital Management, LLC

(Last) (First) (Middle)

1019 KANE CONCOURSE, SUITE 202

(Street)

BAY HARBOR ISLANDS FLORIDA 33154

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Member of a 10% Group

1. Name and Address of Reporting Person^*

SH Capital Partners, L.P.

(Last) (First) (Middle)

1019 KANE CONCOURSE

SUITE 202

(Street)

BAY HARBOR ISLANDS FLORIDA 33154

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Cohen Mark A.

(Last) (First) (Middle)

950 THIRD AVENUE

17TH FLOOR

(Street)

NEW YORK NEW YORK 10022

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Member of a 10% Group

Explanation of Responses:

1. This statement is jointly filed by and on behalf of each of Stone House Capital Management, LLC ("Stone House"), SH Capital Partners, L.P. ("Partners") and Mark Cohen. Partners is the record and direct beneficial owner of the securities covered by this statement. Stone House is the general partner and investment manager of, and may be deemed to beneficially own securities owned by, Partners. Mr. Cohen is the managing member of, and may be deemed to beneficially own securities owned by, Stone House.

2. Each reporting person states that neither the filing of this statement nor anything herein shall be deemed an admission that such person is, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Act") or otherwise, the beneficial owner of any securities covered by this statement. Each reporting person disclaims beneficial ownership of the securities covered by this statement, except to the extent of the pecuniary interest of such person in such securities.

3. Each reporting person may be deemed to be a member of a group with respect to Designer Brands Inc. (the "Issuer") or securities of the Issuer for purposes of Section 13(d) or 13(g) of the Act. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, a member of a group with respect to the Issuer or securities of the Issuer.

	STONE HOUSE CAPITAL MANAGEMENT, LLC, By: /s/ Mark Cohen, Name: Mark Cohen, Title: Managing Member	10/07/2026
	SH CAPITAL PARTNERS, L.P., By: Stone House Capital Management, LLC, Its: General Partner, By: /s/ Mark Cohen, Name: Mark Cohen, Title: Managing Member	10/07/2026
	MARK COHEN, /s/ Mark Cohen	10/07/2026
	** 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)