[Form 4] National Vision Holdings, Inc. Insider Trading Activity

Rhea-AI Filing Summary

FAHS L Reade, Executive Chairman and Director of National Vision Holdings, Inc. (EYE), reported two open-market sales of company common stock on 09/15/2025 and 09/16/2025 executed under a Rule 10b5-1 trading plan established May 28, 2025. The filing shows a sale of 2,002 shares on 09/15/2025 at a weighted average price of $23.81 and a sale of 10,598 shares on 09/16/2025 at a weighted average price of $23.93. After those transactions the reporting person directly beneficially owned 532,195 shares. The filing also discloses 363,430 shares indirectly held by a trust. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person.

Positive

• Sales executed under a Rule 10b5-1 plan indicating the transactions were pre-arranged and not in response to undisclosed material information
• Substantial retained ownership: reporting person still holds 532,195 shares directly plus 363,430 shares indirectly via trust

Negative

• Insider sold a total of 12,600 shares (2,002 on 09/15/2025 and 10,598 on 09/16/2025), which could be viewed as management liquidity
• Sales at recent market prices with weighted averages of $23.81 and $23.93, potentially signaling portfolio rebalancing

Insights

Corporate Governance Expert

Insider sales occurred under a pre-established 10b5-1 plan; holdings remain substantial.

The reported disposals of 2,002 and 10,598 shares were executed pursuant to a Rule 10b5-1 trading plan dated May 28, 2025, which indicates the sales were pre-planned and not opportunistic. The weighted average prices reported were $23.81 and $23.93 respectively. Post-transaction direct ownership remains at 532,195 shares with an additional 363,430 shares held indirectly in a trust, preserving meaningful insider ownership and alignment with long-term interests. From a governance standpoint, use of a 10b5-1 plan reduces information asymmetry concerns but still represents insider liquidity.

Securities Analyst

Small, pre-arranged insider sales; limited immediate market impact given retained holdings.

The aggregate reported sale of 12,600 shares was carried out across two dates and price ranges disclosed in the explanations. The filing provides weighted average prices and notes sales were executed in multiple transactions. The remaining direct and indirect holdings cited in the Form 4 suggest the reporting person continues to hold a sizable position, which lessens the potential negative signal from these transactions. No derivative activity or additional changes were reported.

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).

1. Name and Address of Reporting Person^*

FAHS L READE

(Last) (First) (Middle)

C/O NATIONAL VISION HOLDINGS, INC.,

2435 COMMERCE AVENUE, BLDG. 2200

(Street)

DULUTH GA 30096-4980

(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
X	Officer (give title below)		Other (specify below)
	Executive Chairman

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		2,002(1)	D	$23.81(2)	542,793	D
Common Stock	09/16/2025		S		10,598(1)	D	$23.93(3)	532,195	D
Common Stock								363,430	I	Held by Trust

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. The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan established by the reporting person on May 28, 2025.

2. Price represents the weighted average sales price. The shares were sold in multiple transactions at prices ranging from $23.80 to $23.85. Upon request by the SEC staff, the issuer or a security holder of the issuer, the reporting person will provide full information regarding the number of shares sold a each separate price.

3. Price represents the weighted average sales price. The shares were sold in multiple transactions at prices ranging from $23.80 to $24.12. Upon request by the SEC staff, the issuer or a security holder of the issuer, the reporting person will provide full information regarding the number of shares sold a each separate price.

Remarks:

	/s/ Jared Brandman, as Attorney-in-Fact	09/17/2025
	** 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 National Vision Holdings (EYE) insider FAHS L Reade sell?

The filing reports sales of 2,002 shares on 09/15/2025 and 10,598 shares on 09/16/2025 of common stock.

Were the sales by FAHS L Reade pre-arranged or discretionary?

Yes. The Form 4 states the sales were effected pursuant to a Rule 10b5-1 trading plan established May 28, 2025.

What prices were the shares sold at in the Form 4?

The filing shows weighted average sale prices of $23.81 for 09/15/2025 and $23.93 for 09/16/2025, with specified price ranges in the explanations.

How many shares does FAHS L Reade beneficially own after these transactions?

The Form 4 reports 532,195 shares directly beneficially owned following the reported transactions and 363,430 shares indirectly held by a trust.

Did the Form 4 report any option or derivative transactions?

No. Table II for derivative securities shows no reported transactions or holdings in this filing.