[Form 4] DICK'S SPORTING GOODS, INC. Insider Trading Activity

Rhea-AI Filing Summary

Lauren R. Hobart, President & CEO and Director of DICK'S Sporting Goods (DKS), executed multiple equity transactions on 09/29/2025. She exercised 20,083 stock options with an adjusted exercise price of $11.31, resulting in acquisition of 20,083 shares. On the same date she sold a series of blocks totaling 20,083 shares at weighted-average prices ranging from $219.50 to $227.90. Following these transactions the filing reports beneficial ownership of 299,990 shares, down from 320,073 prior to the trades — a net reduction of 20,083 shares. The sales are reported as occurring under a Rule 10b5-1 trading plan for 20,083 shares and include weighted-average price disclosures and explanations of adjusted option pricing.

Positive

• Exercise of options at $11.31 demonstrates conversion of long-dated compensation into company equity at a nominal exercise price
• Transparent disclosures include weighted-average sale prices and an explanation for adjusted exercise price related to a prior special cash dividend

Negative

• Net decrease of 20,083 shares in beneficial ownership (from 320,073 to 299,990), representing an absolute reduction in insider holdings
• Large block sales executed at prices between $219.50 and $227.90 may be viewed as insider liquidity rather than a buy signal

Insights

Financial Analyst

TL;DR: Insider exercised low-cost options and sold an equal number of shares at roughly $220–$228, reducing holdings by 20,083 shares.

The CEO converted stock options with an adjusted exercise price of $11.31 into 20,083 common shares and contemporaneously sold those 20,083 shares across multiple transactions at weighted-average prices between $219.50 and $227.90. The filing shows beneficial ownership declined from 320,073 to 299,990 shares. The use of a Rule 10b5-1 plan for at least part of the sales is explicitly disclosed. For investors, this is a liquidity event by the insider rather than an additional purchase signal; the transactions appear mechanically linked to option exercise and planned disposition.

Corporate Governance Expert

TL;DR: Transactions include exercised options and scheduled sales under a 10b5-1 plan; disclosures provide pricing ranges and option adjustments.

The Form 4 discloses an adjusted exercise price due to a prior special cash dividend, which is transparently explained. Multiple sale tranches are reported with weighted-average prices and an undertaking to provide per-tranche details on request. The filing identifies the reporting person as both President & CEO and a director and includes a clear Rule 10b5-1 attribution for 20,083 shares. Documentation and disclosure practices in the filing align with standard governance expectations for insider transactions.

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^*

Hobart Lauren R

(Last) (First) (Middle)

345 COURT STREET

(Street)

CORAOPOLIS PA 15108

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
DICK'S SPORTING GOODS, INC. [ DKS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President & CEO

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 Stock, par value $0.01 per share	09/29/2025		M		20,083	A	$11.31(1)	320,073	D
Common Stock, par value $0.01 per share	09/29/2025		S		10,699	D	$219.98(2)	309,374	D(3)
Common Stock, par value $0.01 per share	09/29/2025		S		7,364	D	$220.87(4)	302,010	D(3)
Common Stock, par value $0.01 per share	09/29/2025		S		1,017	D	$221.69(5)	300,993	D(3)
Common Stock, par value $0.01 per share	09/29/2025		S		200	D	$223.91(6)	300,793	D(3)
Common Stock, par value $0.01 per share	09/29/2025		S		776	D	$226.4(7)	300,017	D(3)
Common Stock, par value $0.01 per share	09/29/2025		S		27	D	$227.9	299,990	D(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
Stock Option (Right to Buy)	$11.31(1)	09/29/2025		M			20,083	(8)	03/22/2027	Common Stock, par value $0.01 per share	20,083	$0	20,083	D

Explanation of Responses:

1. The exercise price shown has been adjusted from the grant date exercise price due to the special cash dividend paid by the Company on September 24, 2021, which was required by the Company's Amended and Restated 2012 Stock and Incentive Plan.

2. Represents the weighted average price of multiple transactions ranging from $219.50 to $220.49. The reporting person undertakes to provide full information regarding the number of shares sold at each separate price upon request by the SEC staff, the Company or any security holder of the Company.

3. The reported sale of 20,083 shares occurred automatically pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on July 1, 2025.

4. Represents the weighted average price of multiple transactions ranging from $220.50 to $221.44. The reporting person undertakes to provide full information regarding the number of shares sold at each separate price upon request by the SEC staff, the Company or any security holder of the Company.

5. Represents the weighted average price of multiple transactions ranging from $221.54 to $221.86. The reporting person undertakes to provide full information regarding the number of shares sold at each separate price upon request by the SEC staff, the Company or any security holder of the Company.

6. Represents the weighted average price of multiple transactions ranging from $223.90 to $223.91. The reporting person undertakes to provide full information regarding the number of shares sold at each separate price upon request by the SEC staff, the Company or any security holder of the Company.

7. Represents the weighted average price of multiple transactions ranging from $226.12 to $226.74. The reporting person undertakes to provide full information regarding the number of shares sold at each separate price upon request by the SEC staff, the Company or any security holder of the Company.

8. The stock option award representing the right to purchase 160,666 shares of common stock vested in four equal annual installments beginning on March 22, 2021.

Remarks:

Ex. 24 - Power of Attorney

	/s/ Alexandria M. Crist by Power of Attorney	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.
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FAQ

What transactions did DKS insider Lauren R. Hobart report on Form 4?

The filing reports an exercise of 20,083 stock options at $11.31 and contemporaneous sales of 20,083 shares in multiple tranches at weighted-average prices from $219.50 to $227.90 on 09/29/2025.

How did these trades affect Hobart's holdings in DKS?

Beneficial ownership decreased from 320,073 shares to 299,990 shares, a net reduction of 20,083 shares following the reported transactions.

Were any sales executed under a trading plan?

Yes. The filing states that the sale of 20,083 shares occurred automatically pursuant to a Rule 10b5-1 trading plan adopted July 1, 2025.

Why is the option exercise price listed as $11.31?

The filing explains the exercise price was adjusted due to a special cash dividend paid by the company on September 24, 2021, per the company's stock and incentive plan.

Are per-tranche sale prices available?

The filing provides weighted-average prices for multiple tranches and states the reporting person will provide full per-tranche details upon request by the SEC staff, the company, or any security holder.