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

Rhea-AI Filing Summary

Dillard's, Inc. (DDS) president, director and 10% owner Alex Dillard reported an open-market acquisition of 15 shares of Class A common stock on 11/24/2025 at a price of $614.41 per share. Following this transaction, he directly owns 1,018,882 Class A shares.

He also reports indirect ownership of additional Class A shares, including 41,496 shares held by W.D. Company, Inc., 7,300 shares as trustee of GST Trust, and 36,561 shares owned by his spouse. He disclaims beneficial ownership of the indirectly held shares except to the extent of his pecuniary interest.

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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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^*

DILLARD ALEX

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
11/24/2025

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	11/24/2025		A		15	A	$614.41	1,018,882	D
Common Class A								41,496	I	See Footnote(1)
Common Class A								7,300	I	See Footnote(2)
Common Class A								36,561	I	See Footnote(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

Explanation of Responses:

1. These shares are held by W.D. Company, Inc. The reporting person owns 27.9% of W.D. Company, Inc. and is one of its directors and officers. W. D. Company, Inc. also holds 3,985,776 shares of Class B Common Stock, which are convertible into shares of Class A Common Stock on a one-for-one basis.

2. Trustee of GST Trust

3. Owned by Spouse.

Remarks:

The reporting person disclaims beneficial ownership of the shares reported herein as indirectly beneficially owned, except to the extent of his pecuniary interest therein.

	/s/ Alex Dillard	11/26/2025
	** 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 insider transaction did Dillard's (DDS) report for Alex Dillard?

Alex Dillard reported buying 15 shares of Dillard's Class A common stock on 11/24/2025 at $614.41 per share.

What is Alex Dillard's role at Dillard's (DDS)?

Alex Dillard is reported as a director, a 10% owner, and an officer of Dillard's, serving as President.

How many Dillard's (DDS) shares does Alex Dillard own directly after this transaction?

After the reported transaction, Alex Dillard directly owns 1,018,882 shares of Dillard's Class A common stock.

What indirect Dillard's (DDS) holdings are reported for Alex Dillard?

Indirect holdings include 41,496 Class A shares through W.D. Company, Inc., 7,300 shares as trustee of GST Trust, and 36,561 shares owned by his spouse.

What is W.D. Company, Inc.'s relationship to Dillard's (DDS) shares?

W.D. Company, Inc. holds 41,496 Dillard's Class A shares and 3,985,776 Class B shares, which are convertible into Class A shares on a one-for-one basis.

Does Alex Dillard claim full beneficial ownership of all indirectly held Dillard's (DDS) shares?

No. He disclaims beneficial ownership of the indirectly held shares except to the extent of his pecuniary interest in them.