[Form 4] ESCALADE INC Insider Trading Activity

Rhea-AI Filing Summary

Insider sale by Escalade director: Director Richard F. Baalmann Jr. reported a sale of 4,800 shares of Escalade Inc. (ESCA) executed on 09/15/2025. The weighted average sale price was $12.2892, with individual trade prices ranging from $12.2802 to $12.55. After the reported sale, the reporting person beneficially owned 110,394 shares, held directly. The Form 4 identifies the transaction as a sale (code S) and states the sale was executed in multiple trades; the filer offers to provide trade-level details on request.

Positive

• Transparent reporting: Weighted average price and price range disclosed, with an offer to provide trade-level details on request.
• Substantial retained stake: Reporting person continues to beneficially own 110,394 shares after the sale.

Negative

• Insider sale occurred: Director sold 4,800 shares, which is a reduction in direct holdings.

Insights

Financial Analyst

TL;DR: Routine director share disposition of 4,800 shares at a ~$12.29 weighted average, leaving 110,394 shares owned.

This Form 4 discloses a straightforward insider sale, coded as a sale (S). The quantity sold (4,800 shares) appears modest relative to the remaining beneficial position reported (110,394 shares). The disclosure of a weighted average price and the price range offers transparency about execution. From a financial-materiality perspective, absent additional context on overall float or insider holding concentration, this transaction is a routine liquidity event rather than a clear signal of changing fundamentals.

Corporate Governance Expert

TL;DR: This is a standard, disclosed director sale; documentation and willingness to provide trade details align with good disclosure practice.

The reporting person is a director and filed individually. The Form identifies direct ownership and documents the sale price range plus a weighted average price, which supports regulatory transparency. The filing includes the offer to furnish full trade-level details if requested, consistent with cooperative compliance. There is no indication in the Form of derivative transactions or changes in board status.

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).

1. Name and Address of Reporting Person^*

Baalmann Richard Fenton JR

(Last) (First) (Middle)

11634 SERAMA DRIVE

(Street)

ST. LOUIS MO 63131

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ESCALADE INC [ ESCA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

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
Common Stock	09/15/2025		S		4,800	D	$12.2892(1)	110,394	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. This transaction was executed in multiple trades at prices ranging from $12.2802 to $12.55. The price reported reflects the weighted average sale price. The reporting person undertakes to provide to the SEC staff, the issuer, or a security holder of the issuer full information regarding the number of shares and prices at which this transaction was effected.

	/s/ RICHARD F. BAALMANN JR.	09/15/2025
	** 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.

FAQ

What did ESCA director Richard F. Baalmann Jr. report in this Form 4?

He reported a sale of 4,800 shares of Escalade Inc. on 09/15/2025, at a weighted average price of $12.2892.

How many Escalade (ESCA) shares does the reporting person own after the sale?

The reporting person beneficially owns 110,394 shares following the reported transaction.

What price range did the reported ESCA trades occur at?

The trades occurred at prices ranging from $12.2802 to $12.55, with a weighted average of $12.2892.

Was the Form 4 filing made by one reporting person or jointly?

The Form indicates it was filed by one reporting person (the director individually).

Does the Form 4 show any derivative transactions for ESCA by the reporting person?

No. Table II for derivative securities shows no entries; only a non-derivative sale of common stock is reported.