Duluth Holdings (DLTH) SVP awarded 71,195 Class B restricted shares in equity grant

Rhea-AI Filing Summary

Schlecht Richard W reported acquisition or exercise transactions in this Form 4 filing.

Duluth Holdings Inc. reported that SVP of Product Development & Sourcing Richard W. Schlecht received a grant of 71,195 shares of Class B common stock as restricted stock under the company’s 2024 Equity Incentive Plan. These restricted shares vest in three equal installments starting on March 23, 2027.

After this grant, Schlecht directly holds 403,432 shares of Class B common stock. The filing also notes 88,660 shares of Class B common stock held in UTMA accounts by his children as indirect holdings.

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

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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^*

Schlecht Richard W

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, Product Dev. & Sourcing

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/23/2026

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	03/23/2026		A		71,195	A	(1)	403,432	D
Class B Common Stock								88,660	I	By Children(2)

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 three equal installments commencing on March 23, 2027.

2. These shares are held by reporting person's children in UTMA accounts.

	Dennis F. Connolly, as POA	03/25/2026
	** 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 Richard W. Schlecht?

Duluth Holdings reported that SVP Richard W. Schlecht received a grant of 71,195 shares of Class B common stock as restricted stock. The award was made under the 2024 Equity Incentive Plan and carries specific vesting terms over multiple years.

How many Duluth Holdings (DLTH) shares did the SVP receive and what type are they?

Richard W. Schlecht received 71,195 shares of Duluth Holdings Class B common stock as a restricted stock award. The shares were granted at no cash purchase price as part of his equity compensation under the 2024 Equity Incentive Plan.

When do Richard W. Schlecht’s restricted Duluth Holdings (DLTH) shares vest?

The restricted stock granted to Richard W. Schlecht vests in three equal installments beginning March 23, 2027. This means portions of the 71,195 Class B shares will become fully owned over three years, aligning compensation with longer-term company performance.

What are Richard W. Schlecht’s direct Duluth Holdings (DLTH) share holdings after the grant?

Following the restricted stock grant, Richard W. Schlecht directly holds 403,432 shares of Duluth Holdings Class B common stock. This figure reflects his total direct ownership position as shown in the filing after the 71,195-share equity award was recorded.

What indirect Duluth Holdings (DLTH) holdings are attributed to Richard W. Schlecht?

The filing reports 88,660 shares of Duluth Holdings Class B common stock held in UTMA accounts by Richard W. Schlecht’s children. These shares are listed as indirect holdings, reflecting ownership through accounts established for the benefit of his children.

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

The restricted stock awarded to Richard W. Schlecht was granted under Duluth Holdings’ 2024 Equity Incentive Plan. This plan provides equity-based compensation, and the grant consists of 71,195 Class B shares that vest in three equal installments starting March 23, 2027.