National Vision (EYE) Form 4: Susan Johnson Adds 7,392 Shares

Rhea-AI Filing Summary

National Vision Holdings, Inc. (EYE) – Form 4 insider filing

Director Susan S. Johnson reported the award of 7,392 restricted stock units (RSUs) on 18 June 2025. Each RSU represents the right to receive one share of common stock upon vesting. According to the filing, these RSUs vest in full on the first anniversary of the grant date, aligning the director’s compensation with long-term shareholder value. No cash was paid for the units (reported price $0), indicating a standard equity incentive grant rather than an open-market purchase. Following the award, Johnson’s total beneficial ownership stands at 43,700 shares, all held directly.

The filing was signed on 23 June 2025 by attorney-in-fact Jared Brandman and contains no indication of share sales, option exercises or transfers. There are also no derivative transactions disclosed in Table II, suggesting the director’s exposure is limited to common stock and outstanding equity awards.

While Form 4s do not provide company-wide financial data, incremental insider accumulation can serve as a sentiment indicator. However, given the modest size relative to National Vision’s ~83 million share float (per last 10-K), the transaction is unlikely to be financially material to the enterprise. Investors may view the grant as routine board compensation rather than a signal of imminent corporate developments.

Positive

• Director ownership increase: Susan S. Johnson’s stake rises to 43,700 shares, reinforcing insider alignment with shareholders.

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine RSU grant; increases director stake by 7,392 shares, immaterial to valuation, mildly positive governance signal.

The award boosts Johnson’s direct holdings to 43,700 shares, showing continued alignment but representing less than 0.05% of shares outstanding—too small to affect supply-demand dynamics. No sales or hedging activity were reported, so the transaction does not introduce selling pressure. Because it is a time-based grant vesting after 12 months, the impact on near-term diluted share count is negligible. Overall, the filing is informational and neutral from a valuation standpoint.

Corporate Governance Expert

TL;DR: Standard equity compensation; supports director–shareholder alignment, but not a catalyst event.

Board equity grants that vest over one year encourage oversight continuity and align fiduciary incentives. The absence of performance conditions may limit linkage to strategic outcomes, yet a one-year cliff is commonplace. Investors generally prefer insider purchases over option exercises; still, a grant with no accompanying sales avoids negative optics. Because no 10b5-1 plan was checked, this appears as regular board compensation, keeping governance practices within peer norms.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Johnson Susan S

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	7,392	$0.00	--

Holdings After Transaction: Common Stock — 43,700 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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
Estimated average burden
hours per response:			0.5

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^*

Johnson Susan S

(Last) (First) (Middle)

C/O NATIONAL VISION HOLDINGS, INC.

2435 COMMERCE AVENUE, BLDG 2200

(Street)

DULUTH GA 30096

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
National Vision Holdings, Inc. [ EYE ]

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)
06/18/2025

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	06/18/2025		A		7,392(1)	A	$0	43,700	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. Each restricted stock unit ("RSU") represents a contingent right to receive one share of National Vision Holdings, Inc. common stock. The RSUs vest in full on the first anniversary of the date of grant.

Remarks:

	/s/ Jared Brandman, as Attorney-in-Fact	06/23/2025
	** 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

How many shares did EYE director Susan Johnson acquire?

She received 7,392 restricted stock units, each convertible into one share of common stock.

What is the vesting schedule for the new RSUs?

The RSUs vest in full one year after the 18 June 2025 grant date.

Did the director sell any National Vision (EYE) shares?

No sales were reported; the Form 4 shows only an acquisition of RSUs.

What is Susan Johnson’s total EYE share ownership after this filing?

Her beneficial ownership increased to 43,700 shares, all held directly.

Is this insider transaction considered material to National Vision investors?

Given the small size versus the company’s total float, the filing is generally deemed not financially material.