[Form 4] Dillards Inc. Insider Trading Activity

Rhea-AI Filing Summary

Phillip R. Watts, Senior Vice President and director at Dillard's, Inc. (DDS), reported an open-market purchase of Common Class A stock. On 08/25/2025 he acquired 10 shares at a price of $533.45 per share. Following the transaction the filing lists 9,394 Common Class A shares as beneficially owned directly and 10,317 as held in a retirement plan.

Positive

• Reported acquisition: The filing discloses a purchase of 10 Common Class A shares at $533.45 on 08/25/2025.
• Clear disclosure: Post-transaction beneficial ownership is itemized as 9,394 direct shares and 10,317 retirement plan shares.

Negative

• None.

Insights

Securities Analyst

TL;DR: Insider made a small open-market purchase; holdings remain concentrated in direct and retirement plan accounts.

The Form 4 shows a single non-derivative purchase of 10 Common Class A shares at $533.45 on 08/25/2025 by Phillip R. Watts, reported as Senior Vice President and director. The filing reports 9,394 shares held directly and 10,317 in a retirement plan. The transaction size is immaterial to company capitalization based on the absolute share count disclosed.

Corporate Governance Expert

TL;DR: Routine Section 16 disclosure of a small purchase; filing meets reporting requirements.

The submission is a standard Section 16 Form 4 reporting a non-derivative acquisition on 08/25/2025, signed 08/27/2025. It identifies the reporting person, relationship to the issuer, transaction details and post-transaction beneficial ownership. No amendments, dispositions, derivative instruments, or additional explanatory remarks are included in the filing.

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).

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^*

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)
08/25/2025

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	08/25/2025		A		10	A	$533.45	9,394	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	08/27/2025
	** 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 Phillip R. Watts report on the Form 4 for DDS?

He reported acquiring 10 Common Class A shares of Dillard's (DDS) on 08/25/2025 at $533.45 per share.

How many DDS shares does Phillip R. Watts beneficially own after this filing?

The filing lists 9,394 Common Class A shares as direct beneficial ownership and 10,317 as held in a retirement plan.

What is Phillip R. Watts's role at Dillard's as shown on the Form 4?

He is identified as a Senior Vice President and a director of Dillard's, Inc.

When was the Form 4 signed and filed for this transaction?

The signature block shows the Form 4 signed by /s/ Phillip R. Watts on 08/27/2025.