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

Rhea-AI Filing Summary

Dillard’s (DDS) President and director Alex Dillard reported an insider purchase. On 10/27/2025, he acquired 14 shares of Class A common stock at $623.52 per share. Following the transaction, he beneficially owns 1,018,867 Class A shares directly.

He also reports indirect holdings of 41,496 shares through W.D. Company, Inc., 7,300 shares as trustee of a GST trust, and 36,560 shares owned by his spouse. The filing notes he disclaims beneficial ownership of indirectly held shares except to the extent of his pecuniary interest. W.D. Company, Inc. holds 3,985,776 Class B shares convertible into Class A on a one-for-one basis.

Insights

Insider trading disclosure analyst

Routine Form 4: small insider buy, neutral impact.

The report shows Alex Dillard acquired 14 Class A shares at $623.52 on 10/27/2025, taking his direct beneficial ownership to 1,018,867 shares. Such small insider purchases are typically administrative and do not, by themselves, change fundamentals.

Indirect holdings include 41,496 shares via W.D. Company, 7,300 as trustee, and 36,560 by spouse, with a standard disclaimer of beneficial ownership except for pecuniary interest. Actual market impact depends on broader trading and future disclosures.

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^*

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)
10/27/2025

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	10/27/2025		A		14	A	$623.52	1,018,867	D
Common Class A								41,496	I	See Footnote(1)
Common Class A								7,300	I	See Footnote(2)
Common Class A								36,560	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	10/29/2025
	** 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 Dillard's (DDS) insider Alex Dillard report on Form 4?

He reported acquiring 14 Class A shares at $623.52 on 10/27/2025.

How many Dillard's (DDS) shares does Alex Dillard own directly after the trade?

He directly beneficially owns 1,018,867 Class A shares after the transaction.

What indirect Dillard's (DDS) holdings were disclosed?

Indirect holdings include 41,496 shares via W.D. Company, 7,300 as trustee of a GST trust, and 36,560 owned by his spouse.

What is noted about W.D. Company's Dillard's holdings?

W.D. Company, Inc. holds 3,985,776 Class B shares, convertible into Class A on a one-for-one basis.

What roles does Alex Dillard hold at Dillard's (DDS)?

He is a Director, 10% Owner, and Officer (President).

Does the filing include a beneficial ownership disclaimer?

Yes. He disclaims beneficial ownership of indirectly held shares except to the extent of his pecuniary interest.