Duluth Holdings (DLTH) SVP reports 1,000-share Class B stock purchase

Rhea-AI Filing Summary

Duluth Holdings Inc. executive Richard W. Schlecht, SVP of Product Development & Sourcing, reported acquiring additional company stock. On December 31, 2025, he acquired 1,000 shares of Class B Common Stock at $1.77 per share in a transaction coded as an acquisition. The filing notes these shares were obtained under the Duluth Holdings Inc. Employee Stock Purchase Plan, meaning they were bought through a company-sponsored program for employees.

After this purchase, Schlecht beneficially owns 353,233 Class B shares directly. The filing also reports 88,660 Class B shares held indirectly in UTMA accounts for his children, reflecting additional ownership associated with him through family accounts.

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^*

Schlecht Richard W

(Last) (First) (Middle)

201 EAST FRONT STREET

(Street)

MOUNT HOREB WI 53572

(City) (State) (Zip)

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

3. Date of Earliest Transaction (Month/Day/Year)
12/31/2025

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
Class B Common Stock	12/31/2025		A(1)	V	1,000	A	$1.77	353,233	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. These shares were acquired under the Duluth Holdings Inc. Employee Stock Purchase Plan.

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

	Dennis F. Connolly, as POA	01/07/2026
	** 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.
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FAQ

What insider transaction did Duluth Holdings (DLTH) report in this Form 4?

The Form 4 reports that Richard W. Schlecht, SVP of Product Development & Sourcing at Duluth Holdings Inc., acquired 1,000 shares of Class B Common Stock on December 31, 2025.

How many Duluth Holdings (DLTH) shares did the insider buy and at what price?

Richard W. Schlecht acquired 1,000 shares of Class B Common Stock at a price of $1.77 per share.

How many Duluth Holdings (DLTH) shares does the insider own after the reported transaction?

Following the reported purchase, Richard W. Schlecht beneficially owns 353,233 Class B shares directly and 88,660 Class B shares indirectly through accounts for his children.

Was the Duluth Holdings (DLTH) insider purchase made under a company plan?

Yes. The filing states that the 1,000 shares were acquired under the Duluth Holdings Inc. Employee Stock Purchase Plan.

How are the indirect Duluth Holdings (DLTH) shares held for the reporting person?

The filing explains that 88,660 Class B shares are held by the reporting person's children in UTMA accounts, and are reported as indirect ownership.

What is the reporting person’s role at Duluth Holdings (DLTH)?

The reporting person, Richard W. Schlecht, is an officer of Duluth Holdings Inc., serving as SVP, Product Dev. & Sourcing.