Designer Brands (NYSE: DBI) chair exercises awards, withholds shares for taxes
Rhea-AI Filing Summary
Designer Brands Inc. Executive Chairman and 10% owner Jay L. Schottenstein reported equity award activity in Class A common shares. He exercised or converted dividend equivalent rights and restricted stock units, acquiring 42,347 Class A shares at a stated price of $0.00 per share and increasing his direct holdings to 1,460,377 Class A shares before tax withholding. To satisfy tax obligations, 10,481 Class A shares were withheld at $7.20 per share, leaving 1,449,896 Class A shares held directly.
Schottenstein also reported indirect ownership positions in Class A shares held through entities including Jubilee Limited Partnership, Schottenstein RVI, LLC, various trusts, Schottenstein Realty LLC, and Schottenstein SEI, LLC, with each entity’s post‑transaction holdings listed separately.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Dividend Equivalent Rights | 2,454 | $0.00 | -- |
| Exercise | Restricted Stock Unit | 39,893 | $0.00 | -- |
| Exercise | Class A Common Shares | 42,347 | $0.00 | -- |
| Tax Withholding | Class A Common Shares | 10,481 | $7.20 | $75K |
| holding | Class A Common Shares | -- | -- | -- |
| holding | Class A Common Shares | -- | -- | -- |
| holding | Class A Common Shares | -- | -- | -- |
| holding | Class A Common Shares | -- | -- | -- |
| holding | Class A Common Shares | -- | -- | -- |
Footnotes (1)
- The dividend equivalent rights accrued on previously awarded restricted stock units (RSUs) and become exercisable proportionately with the RSUs to which they relate. Each dividend equivalent right is the economic equivalent of one share of Issuer's Class A common stock. Each restricted stock unit represents a contingent right to receive one share of Issuer's Class A common stock. Restricted stock unit vests one-third per year beginning on the first anniversary of the date of grant.
