Duluth Holdings (NASDAQ: DLTH) director awarded 22,858 restricted Class B shares

Rhea-AI Filing Summary

Paschke Brett Lee reported acquisition or exercise transactions in this Form 4 filing.

DULUTH HOLDINGS INC. director Brett Lee Paschke reported a compensation-related equity grant and updated holdings of Class B Common Stock. He received an award of 22,858 shares of restricted stock at $0.00 per share under the 2024 Equity Incentive Plan.

The restricted shares vest in full on the earlier of June 3, 2027 or the date of the company’s 2027 annual meeting of shareholders. After this grant, Paschke directly holds 159,213 Class B shares, and a trust associated with him indirectly holds 18,959 Class B shares, reflecting his overall equity stake reported in this filing.

Insights

Equity compensation analyst

Routine director equity grant increases long-term alignment, with vesting tied to 2027 service.

Director Brett Lee Paschke received 22,858 restricted Class B shares at $0.00 per share under the 2024 Equity Incentive Plan. This is a non-cash, service-based award rather than an open-market purchase or sale, so it mainly reflects standard board compensation structure.

The award vests on the earlier of June 3, 2027 or the 2027 annual meeting, encouraging continued board service through that point. Following the grant, Paschke holds 159,213 Class B shares directly and 18,959 shares indirectly via a trust, indicating a meaningful reported equity position tied to company performance.

Insider Trade Summary

Net Buyer: 22,858 shares

Net Buy 2 txns

Insider Paschke Brett Lee

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class B Common Stock	22,858	$0.00	$0.00
holding	Class B Common Stock	--	--	--

Holdings After Transaction: Class B Common Stock — 159,213 shares (Direct); Class B Common Stock — 18,959 shares (Indirect, By Trust)

Footnotes (1)

1. F1. Award of restricted stock granted under the 2024 Equity Incentive Plan of Duluth Holdings Inc. The shares of restricted stock vest in full on the earlier of June 3, 2027 or the date of the Duluth Holdings Inc. 2027 annual meeting of shareholders.

Key Figures

Restricted stock grant: 22,858 shares Grant price per share: $0.00 per share Direct holdings after grant: 159,213 shares +2 more

5 metrics

Restricted stock grant 22,858 shares Award of restricted Class B Common Stock

Grant price per share $0.00 per share Restricted stock award under 2024 Equity Incentive Plan

Direct holdings after grant 159,213 shares Class B Common Stock held directly after transaction

Indirect trust holdings 18,959 shares Class B Common Stock held indirectly by trust

Vesting date trigger June 3, 2027 Full vesting or earlier 2027 annual meeting

Key Terms

Class B Common Stock, restricted stock, 2024 Equity Incentive Plan, indirect ownership, +1 more

5 terms

Class B Common Stock financial

"Class B Common Stock"

A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.

restricted stock financial

"Award of restricted stock granted under the 2024 Equity Incentive Plan"

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

2024 Equity Incentive Plan financial

"granted under the 2024 Equity Incentive Plan of Duluth Holdings Inc."

indirect ownership financial

"direct_or_indirect: "I", nature_of_ownership: "By Trust""

Grant, award, or other acquisition financial

"transaction_code_description: "Grant, award, or other acquisition""

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 06/05/2026 - 04:38 PM Accepted by SEC EDGAR 06/05/2026 - 04:38 PM Learn about SEC filing dates

FAQ

What did Brett Lee Paschke receive in this Duluth Holdings (DLTH) Form 4 filing?

Brett Lee Paschke received an award of 22,858 shares of restricted Class B Common Stock at $0.00 per share. The grant was issued under Duluth Holdings’ 2024 Equity Incentive Plan as equity-based compensation for his role as a director.

When do the new restricted shares for Duluth Holdings (DLTH) director Paschke vest?

The 22,858 restricted shares vest in full on the earlier of June 3, 2027 or the date of Duluth Holdings Inc.’s 2027 annual meeting of shareholders. This ties the award to Paschke’s continued board service through that timeframe.

How many Duluth Holdings (DLTH) shares does Brett Lee Paschke hold after this Form 4?

After the reported transactions, Brett Lee Paschke directly holds 159,213 shares of Duluth Holdings Class B Common Stock. In addition, a trust associated with him indirectly holds 18,959 Class B shares, as shown by the indirect ownership entry in the filing.

Was the Duluth Holdings (DLTH) Form 4 for an open-market stock purchase or sale?

No, the Form 4 primarily reflects a grant of restricted stock, not an open-market trade. Paschke’s 22,858-share award under the 2024 Equity Incentive Plan is compensation-related and reported with a $0.00 per share transaction price.

What is the 2024 Equity Incentive Plan mentioned in the Duluth Holdings (DLTH) Form 4?

The 2024 Equity Incentive Plan is Duluth Holdings’ program for granting equity awards such as restricted stock. In this filing, it is the plan under which director Brett Lee Paschke received 22,858 restricted Class B shares as part of his compensation package.

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^*

Paschke Brett Lee

(Last) (First) (Middle)

201 EAST FRONT STREET

(Street)

MOUNT HOREB WISCONSIN 53572

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
DULUTH HOLDINGS INC. [ DLTH ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/03/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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
Class B Common Stock	06/03/2026		A		22,858	A	(1)	159,213	D
Class B Common Stock								18,959	I	By Trust

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. Award of restricted stock granted under the 2024 Equity Incentive Plan of Duluth Holdings Inc. The shares of restricted stock vest in full on the earlier of June 3, 2027 or the date of the Duluth Holdings Inc. 2027 annual meeting of shareholders.

	Dennis F. Connolly, as POA	06/05/2026
	** 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.
* Form 4: SEC 1474 (03-26)