Duluth Holdings (DLTH) grants director 22,858 shares of restricted stock

Rhea-AI Filing Summary

RILEY SUSAN J reported acquisition or exercise transactions in this Form 4 filing.

Duluth Holdings Inc. director Susan J. Riley received an award of 22,858 shares of Class B restricted stock as equity compensation. The grant was made at no cash cost to her and increases her direct holdings to 105,414 shares. These restricted shares vest in full on the earlier of June 3, 2027 or the company’s 2027 annual meeting of shareholders.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider RILEY SUSAN J

Role null

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

Holdings After Transaction: Class B Common Stock — 105,414 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Restricted stock grant: 22,858 shares Grant price: $0.0000 per share Post-transaction holdings: 105,414 shares +1 more

4 metrics

Restricted stock grant 22,858 shares Class B Common Stock awarded to director on June 3, 2026

Grant price $0.0000 per share Reported transaction price for restricted stock award

Post-transaction holdings 105,414 shares Total Class B shares directly owned after the award

Vesting date Earlier of June 3, 2027 or 2027 annual meeting Vesting schedule for 22,858 restricted shares

Key Terms

restricted stock, 2024 Equity Incentive Plan, vest in full

3 terms

restricted stock financial

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

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

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

vest in full financial

"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."

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Form 4 Insider Transactions: What Each Field Means →

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^*

RILEY SUSAN J

(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)	105,414	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:

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)

FAQ

What insider transaction did Duluth Holdings (DLTH) report for Susan J. Riley?

Duluth Holdings reported that director Susan J. Riley received 22,858 shares of Class B restricted stock. The award was granted as equity compensation at no cash cost, increasing her direct holdings to 105,414 shares after the transaction.

Was the Duluth Holdings (DLTH) Form 4 a stock purchase or a grant?

The Form 4 reflects a stock grant, not an open-market purchase. Susan J. Riley acquired 22,858 restricted shares as a compensation award under Duluth Holdings’ 2024 Equity Incentive Plan, with a reported price per share of $0.0000.

How many Duluth Holdings (DLTH) shares does Susan J. Riley own after this grant?

Following the restricted stock award, Susan J. Riley directly owns 105,414 shares of Duluth Holdings Class B Common Stock. This total includes the newly granted 22,858 restricted shares, which remain subject to vesting conditions until 2027.

When do Susan J. Riley’s Duluth Holdings (DLTH) restricted shares vest?

The 22,858 restricted shares vest in full on the earlier of June 3, 2027 or the date of Duluth Holdings’ 2027 annual meeting of shareholders. Until vesting, the shares are subject to the restrictions described in the 2024 Equity Incentive Plan.

Under which plan was the Duluth Holdings (DLTH) restricted stock granted?

The restricted stock was granted under the 2024 Equity Incentive Plan of Duluth Holdings Inc. This plan governs the terms of equity awards, including vesting conditions and other restrictions that apply to the 22,858 Class B restricted shares.