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

Rhea-AI Filing Summary

Mike Litchford, Vice President of Dillard's, Inc. (DDS), reported acquiring 10 shares of Common Class A stock on 09/29/2025 at a reported price of $622.50 per share. After the purchase he directly beneficially owned 3,187 shares; an additional 3,568 shares are held in a retirement plan and are reported as indirect ownership.

Positive

• Insider purchase recorded, showing continuing officer ownership in DDS
• Disclosure includes both direct and retirement plan holdings, improving transparency

Negative

• None.

Insights

Securities Analyst

TL;DR: Small insider purchase; routine disclosure with minimal market impact.

The report documents a modest, direct purchase of 10 Class A shares by a company officer at $622.50 per share, with substantial existing holdings retained both directly and in a retirement plan. The trade size is immaterial relative to typical public float and does not indicate a material shift in insider positioning or corporate control. This is a routine Section 16 disclosure rather than a signal of strategic change.

Corporate Governance Expert

TL;DR: Properly filed Section 16 disclosure showing continued insider ownership.

The Form 4 shows required reporting of an open-market or similar acquisition by an officer and identifies both direct and indirect holdings, including retirement plan shares. From a governance perspective, the filing appears complete for the reported securities class and reflects ongoing insider alignment with company equity, but the transaction size is too small to be governance material.

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
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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^*

LITCHFORD MIKE

(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)
	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		10	A	$622.5	3,187	D
Common Class A - Retirement Plan								3,568	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/ Mike Litchford	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 transaction did Mike Litchford report for DDS?

He reported acquiring 10 shares of Dillard's Common Class A stock at $622.50 per share on 09/29/2025.

How many Dillard's shares does Mike Litchford own after the reported transaction?

He beneficially owns 3,187 shares directly, plus 3,568 shares held in a retirement plan (indirect ownership).

What is the reporting person's role at DDS?

The reporting person is listed as Vice President of Dillard's, Inc.

Is this Form 4 filing an individual or joint filing?

The form indicates it was filed by one reporting person (individual filing).

Does the filing report any derivative transactions?

No derivative securities are reported in Table II; the filing only shows a non-derivative acquisition.