Destination XL (DXLG) CEO exercises RSUs, withholds shares to cover tax
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Destination XL Group President and CEO Harvey S. Kanter reported routine equity compensation activity in the form of restricted stock unit (RSU) vesting and conversion into common stock. On April 1, 2026, he exercised RSUs covering a total of 124,210 shares of common stock at a conversion price of $0.00 per share.
Following these RSU conversions, Kanter used 52,603 shares of common stock, valued at $0.51 per share, to satisfy tax obligations, a non‑market “F” code tax-withholding disposition rather than an open‑market sale. After all transactions, he directly owned 801,464 shares of Destination XL Group common stock.
Positive
- None.
Negative
- None.
Insights
CEO Kanter’s Form 4 shows routine RSU vesting, netting more shares after tax withholding.
Harvey S. Kanter, President and CEO of Destination XL Group, converted multiple tranches of restricted stock units into a total of 124,210 shares of common stock on April 1, 2026. These RSUs stem from time-based awards under the company’s Long-Term Incentive Plans spanning 2022–2027.
To cover tax obligations on the vesting, 52,603 shares were withheld at $0.51 per share, coded as a tax-withholding disposition (F), not an open-market sale. After the transactions, Kanter held 801,464 shares directly, indicating a continued substantial equity position in the company.
Insider Trade Summary
124,210 shares exercised/converted
Mixed
9 txns
Insider
KANTER HARVEY S
Role
President and CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 17,990 | $0.00 | -- |
| Exercise | Restricted Stock Units | 20,572 | $0.00 | -- |
| Exercise | Restricted Stock Units | 25,440 | $0.00 | -- |
| Exercise | Restricted Stock Units | 60,208 | $0.00 | -- |
| Exercise | Common Stock, $0.01 par value | 17,990 | $0.00 | -- |
| Exercise | Common Stock, $0.01 par value | 20,572 | $0.00 | -- |
| Exercise | Common Stock, $0.01 par value | 25,440 | $0.00 | -- |
| Exercise | Common Stock, $0.01 par value | 60,208 | $0.00 | -- |
| Tax Withholding | Common Stock, $0.01 par value | 52,603 | $0.51 | $27K |
Holdings After Transaction:
Restricted Stock Units — 0 shares (Direct);
Common Stock, $0.01 par value — 747,847 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
RSU shares converted: 124,210 shares
Shares withheld for taxes: 52,603 shares
Tax withholding price: $0.51 per share
+2 more
5 metrics
RSU shares converted
124,210 shares
Total underlying common shares from RSU exercises on April 1, 2026
Shares withheld for taxes
52,603 shares
Common stock withheld to satisfy tax liability at $0.51 per share
Tax withholding price
$0.51 per share
Value used for tax-withholding disposition of 52,603 shares
Shares owned after transactions
801,464 shares
Direct common stock ownership by CEO Harvey S. Kanter after Form 4 events
Single RSU tranche size
60,208 RSUs
Largest RSU block converted into common stock on April 1, 2026
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"
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"
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 CEO Harvey S. Kanter report in this Form 4?
Harvey S. Kanter reported the vesting and conversion of restricted stock units into common stock for Destination XL Group (DXLG). Multiple RSU awards converted into 124,210 shares, reflecting routine equity compensation activity under the company’s long-term incentive plans rather than discretionary open‑market trading.
What do the RSU footnotes in the DXLG Form 4 explain?
The footnotes explain that each RSU equals one DXLG share and describe grants tied to time-based portions of the 2022–2027 Long-Term Incentive Plans. They also note that remaining RSUs from later award cycles vest on future dates between April 1, 2027 and April 1, 2029.
Is the DXLG CEO’s Form 4 transaction considered routine compensation activity?
Yes. The Form 4 reflects RSU vesting and conversion, plus share withholding for taxes, which are standard components of equity compensation. No open-market purchases or sales were reported, and the CEO’s post‑transaction holding of 801,464 shares indicates an ongoing, sizable ownership stake.