[Form 4] Dillards Inc. Insider Trading Activity

Rhea-AI Filing Summary

Vice President James D. Stockman filed a Form 4 for Dillard’s (DDS). On 07/28/2025 he acquired 13 Class A common shares at $513 each (≈ $6.7 k). His direct ownership rises to 35,242 shares; an additional 21,093 shares are held in a retirement plan. The filing uses transaction code “A,” indicating an award or employee-related acquisition rather than an open-market buy. The purchase increases Stockman’s direct stake by 0.04 % and is immaterial relative to DDS’s share count, so market impact should be minimal.

Positive

• Insider acquisition, even if small, can be interpreted as modest confidence in DDS’s prospects.

Negative

• None.

Insights

Securities Analyst

TL;DR — Small insider buy; minimal valuation impact.

The purchase adds just 13 shares to Stockman’s 35 k-share position, lifting his direct stake by roughly US$6.7 k. That is negligible against DDS’s daily dollar volume and market cap, so I view the filing as neutral. Still, any insider acquisition—however small—leans incrementally positive for sentiment, as it shows continued alignment with shareholders.

Corporate Governance Expert

TL;DR — Routine Section 16 reporting; no governance red flags.

The Form 4 simply documents an employee-plan award. No derivative instruments, gifting, or dispositions were disclosed, and Stockman remains an officer in good standing. Compliance appears timely and accurate, suggesting sound internal controls. From a governance standpoint, the event is non-material and does not alter risk assessment.

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^*

STOCKMAN JAMES D

(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)
07/28/2025

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	07/28/2025		A		13	A	$513	35,242	D
Common Class A - Retirement Plan								21,093	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/ James Stockman	07/30/2025
	** 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 DDS insider James D. Stockman report in the latest Form 4?

He acquired 13 Class A shares on 07/28/25 at $513, raising his direct holdings to 35,242 shares.

How large is Stockman’s total ownership in Dillard’s?

After the transaction he directly owns 35,242 shares and holds 21,093 more in a retirement plan.

Was this an open-market purchase?

No. Transaction code “A” indicates an award or employee-plan acquisition, not an open-market buy.

Is the reported transaction material to DDS investors?

The ~$6.7 k purchase equals 0.04 % of Stockman’s direct stake and is immaterial to DDS’s float, so market impact is expected to be negligible.

Does the filing reveal any derivative activity or sales?

No. Table II shows zero derivative transactions, and no sales were reported.