[Form 4] DILLARD'S, INC. Insider Trading Activity

Rhea-AI Filing Summary

Phillip R. Watts, identified as a Senior Vice President and officer of Dillard's, Inc. (DDS), reported an open-market acquisition on 09/29/2025 in a Form 4 filing. The filing shows 11 shares of Common Class A were acquired with a transaction code "A" and a reported price of $622.5. After the reported transaction, Mr. Watts is recorded as beneficially owning 8,905 shares directly and 10,317 shares in a retirement plan. The Form 4 is signed by Mr. Watts on 10/01/2025. The disclosure is a routine insider transaction showing a small purchase by a named officer and does not include derivative activity or other transactions.

Insights

Corporate Governance Expert

TL;DR: Routine officer purchase disclosed; suggests continued alignment with shareholders but not material on its own.

The Form 4 reports a small acquisition of 11 Common Class A shares by a Senior Vice President. Such filings are standard disclosures required by Section 16 and serve to maintain transparency around insider holdings. The size of the transaction, as reported, is minimal relative to typical issuer market capitalizations and does not indicate a material change in control or compensation structure. No derivatives or dispositions are reported, and beneficial ownership amounts are provided for direct and retirement-plan holdings.

Securities Analyst

TL;DR: Small insider buy disclosed; immaterial to valuation but confirms insider ownership and compliance with reporting rules.

This filing documents an 11-share acquisition at a reported price of $622.5 and subsequent beneficial ownership levels of 8,905 shares (direct) and 10,317 shares (retirement plan). From a securities perspective, the transaction is routine and insufficiently large to influence earnings, cash flow, or ownership concentration metrics. The absence of derivative activity further simplifies the ownership picture. The disclosure is useful for maintaining an up-to-date insider-holdings record but is not a material corporate event.

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

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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).

1. Name and Address of Reporting Person^*

Watts Phillip R.

(Last) (First) (Middle)

1600 CANTRELL RD

(Street)

LITTLE ROCK AR 72201

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
DILLARD'S, INC. [ DDS ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/29/2025

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
Common Class A	09/29/2025		A		11	A	$622.5	8,905	D
Common Class A - Retirement Plan								10,317	D

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

Explanation of Responses:

	/s/ Phillip R. Watts	10/01/2025
	** 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 Phillip R. Watts report on the Form 4 for Dillard's (DDS)?

The Form 4 reports an acquisition of 11 shares of Common Class A on 09/29/2025 and shows beneficial ownership of 8,905 shares directly and 10,317 shares in a retirement plan.

What price was reported for the shares purchased by the DDS insider?

The filing lists a reported price of $622.5 for the transaction recorded on the Form 4.

What is the reporting person’s role at Dillard's (DDS)?

The reporting person, Phillip R. Watts, is identified as a Senior Vice President and an officer of the company.

Does the Form 4 include any derivative transactions or dispositions?

No. The submitted Form 4 shows only a non-derivative acquisition and does not report any derivative securities or dispositions.

When was the Form 4 signed by the reporting person?

The Form 4 bears a signature dated 10/01/2025 by Phillip R. Watts.