Destination XL Group (DXLG) CMO exercises RSUs, with shares withheld for tax
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
DESTINATION XL GROUP, INC. Chief Merchandising Officer Allison Surette exercised restricted stock units into common shares on April 1, 2026 as part of long-term incentive awards. She converted 22,112 RSUs into the same number of common shares at an exercise price of $0.00 per share.
To cover tax obligations, 8,169 common shares were withheld at a value of $0.51 per share, a standard tax-withholding disposition. After these compensation-related transactions, she directly holds 134,076 common shares of Destination XL Group. No open-market purchases or sales were reported.
Positive
- None.
Negative
- None.
Insider Trade Summary
22,112 shares exercised/converted
Mixed
9 txns
Insider
Surette Allison
Role
Chief Merchandising Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 2,736 | $0.00 | -- |
| Exercise | Restricted Stock Units | 3,488 | $0.00 | -- |
| Exercise | Restricted Stock Units | 4,622 | $0.00 | -- |
| Exercise | Restricted Stock Units | 11,266 | $0.00 | -- |
| Exercise | Common Stock, $0.01 par value | 2,736 | $0.00 | -- |
| Exercise | Common Stock, $0.01 par value | 3,488 | $0.00 | -- |
| Exercise | Common Stock, $0.01 par value | 4,622 | $0.00 | -- |
| Exercise | Common Stock, $0.01 par value | 11,266 | $0.00 | -- |
| Tax Withholding | Common Stock, $0.01 par value | 8,169 | $0.51 | $4K |
Holdings After Transaction:
Restricted Stock Units — 0 shares (Direct);
Common Stock, $0.01 par value — 122,869 shares (Direct)
Footnotes (1)
- Each RSU, as defined in the Company's 2016 Incentive Compensation Plan, represents a contingent right to receive one share of DXLG common stock. Represents shares withheld from shares otherwise issuable upon vesting of RSUs for payment of taxes. Represents RSUs for the time-based portion of the 2022-2024 Long-Term Inventive Plan awared to the Reporting Person on April 9, 2022. Represents RSUs for the time-based portion of the 2023-2025 Long-Term Inventive Plan awared to the Reporting Person on May 1, 2023. The remaining RSUs vest and become exercisable on April 1, 2027. Represents RSUs for the time-based portion of the 2024-2026 Long-Term Inventive Plan awared to the Reporting Person on April 1, 2024. The remaining RSUs vest and become exercisable on April 1, 2027 and April 1, 2028. Represents RSUs for the time-based portion of the 2025-2027 Long-Term Inventive Plan awared to the Reporting Person on April 1, 2025. The remaining RSUs vest and become exercisable on April 1, 2027, April 1, 2028 and April 1, 2029.
Key Figures
RSUs exercised: 22,112 shares
Tax-withheld shares: 8,169 shares
Tax-withholding price: $0.51 per share
+3 more
6 metrics
RSUs exercised
22,112 shares
Restricted stock units converted to common stock on April 1, 2026
Tax-withheld shares
8,169 shares
Common shares withheld to pay taxes on April 1, 2026
Tax-withholding price
$0.51 per share
Value used for shares withheld for tax obligations
Post-transaction holdings
134,076 shares
Direct common stock owned by Allison Surette after transactions
RSU-to-share ratio
1:1
Each RSU represents one share of DXLG common stock
RSU plans covered
2022–2024, 2023–2025, 2024–2026, 2025–2027
Long-Term Incentive Plans referenced in footnotes
Key Terms
Restricted Stock Units, Long-Term Incentive Plan, tax-withholding disposition, Exercise or conversion of derivative security, +1 more
5 terms
Restricted Stock Units financial
"Each RSU, as defined in the Company's 2016 Incentive Compensation Plan, represents a contingent right to receive one share"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Long-Term Incentive Plan financial
"Represents RSUs for the time-based portion of the 2022-2024 Long-Term Inventive Plan awared to the Reporting Person"
A long-term incentive plan is a company program that pays executives or employees with stock, options, or cash tied to multi-year performance goals, where the rewards become theirs only after meeting conditions over time. Think of it as a delayed bonus or retirement-style reward that aligns employees’ interests with shareholders by encouraging them to boost long-term value; investors watch these plans because they affect pay costs, share dilution and management incentives.
tax-withholding disposition financial
"Payment of exercise price or tax liability by delivering securities"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
Exercise or conversion of derivative security financial
"transaction_code_description: Exercise or conversion of derivative security"
2016 Incentive Compensation Plan financial
"Each RSU, as defined in the Company's 2016 Incentive Compensation Plan, represents a contingent right"
FAQ
What did DXLG executive Allison Surette report in this Form 4?
Allison Surette reported exercising restricted stock units into common shares and having a portion withheld to pay taxes. These transactions reflect routine equity compensation vesting under Destination XL Group’s long-term incentive plans, not open-market stock purchases or sales.
Were any of Allison Surette’s DXLG transactions open-market buys or sells?
No open-market purchases or sales were reported. The Form 4 shows RSU exercises, converting units into shares, and a tax-withholding disposition where shares were withheld to pay taxes, rather than sold by her in the open market.
What long-term incentive plans are referenced in the DXLG Form 4 footnotes?
The footnotes reference time-based RSUs from the 2022–2024, 2023–2025, 2024–2026, and 2025–2027 Long-Term Incentive Plans. They also note that remaining RSUs vest and become exercisable on specified future dates, including April 1, 2027, 2028, and 2029.