Lands' End (NASDAQ: LE) executive discloses stock, RSU and performance rights
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
LANDS' END, INC. filed an initial ownership report showing President, LE Outfitters John T. DeFalco’s equity holdings. He directly holds 13,657 shares of common stock, plus time-based restricted stock units covering 51,913 shares and performance rights tied to 7,493 underlying shares of common stock.
The RSUs vest in tranches between March 24, 2027 and March 23, 2029, subject to continued service and other vesting conditions. The performance rights can vest up to 100% of their target shares based on stock-price performance and certification of results following the fiscal year ending January 28, 2028.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
DeFalco John T
Role
President, LE Outfitters
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Performance Rights | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 51,913 shares (Direct, null);
Performance Rights — 7,493 shares (Direct, null);
Common Stock — 13,657 shares (Direct, null)
Footnotes (1)
- Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of issuer common stock upon satisfaction of the vesting conditions. These are time-based RSUs that vest as follows: 7,427 shares will vest on April 1, 2027; 3,747 shares will vest on March 24, 2027 and 7,493 shares will vest on March 24, 2028; 5,686 shares will vest on March 23, 2027, 5,687 shares will vest on March 23, 2028 and 11,373 shares will vest on March 23, 2029; and 5,250 shares will vest on April 1, 2027 and 5,250 shares will vest on December 31, 2027, subject in each case to the satisfaction of vesting conditions, including maintaining a continuous business relationship through the applicable vesting date. Each performance right represents a contingent right to receive one share of issuer common stock subject to certification of performance following fiscal year 2027. The performance rights vest up to 100% of the listed target number of shares upon issuer common stock achieving a specified average per share closing stock price over a specified number of trading days, and subject to the satisfaction of other vesting conditions, including maintaining a continuous business relationship with the issuer through the payment date. No later than 90 days following the completion of the audit for issuer's fiscal year ending January 28, 2028, the Compensation Committee of the Board of Directors of the issuer shall determine achievement of performance goals in its sole discretion and the date upon which the Compensation Committee determines such performance shall be the applicable vesting date.
Key Figures
Direct common stock holdings: 13,657 shares
Restricted Stock Units: 51,913 underlying shares
Performance rights underlying shares: 7,493 shares
+5 more
8 metrics
Direct common stock holdings
13,657 shares
Common Stock held directly after reported holdings
Restricted Stock Units
51,913 underlying shares
Time-based RSUs convertible into common stock
Performance rights underlying shares
7,493 shares
Performance rights tied to common stock
RSU vesting dates
March 24, 2027 to March 23, 2029
Multiple tranches subject to vesting conditions
Performance period end fiscal year
Fiscal year ending January 28, 2028
Used to certify performance for performance rights
Committee determination deadline
Within 90 days after fiscal 2027 audit
Timing for performance goal determination
RSUs vesting April 1, 2027
7,427 + 5,250 shares
Two RSU tranches scheduled on April 1, 2027
RSUs vesting March 23, 2029
11,373 shares
Final RSU tranche under described schedule
Key Terms
Restricted Stock Unit, performance right, vesting conditions, Compensation Committee, +1 more
5 terms
Restricted Stock Unit financial
"Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of issuer common stock..."
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
performance right financial
"Each performance right represents a contingent right to receive one share of issuer common stock subject to certification of performance..."
vesting conditions financial
"subject in each case to the satisfaction of vesting conditions, including maintaining a continuous business relationship..."
Vesting conditions are the rules that determine when someone earning company stock or stock options actually gains the right to keep or sell them, typically based on staying with the company for a set time or meeting performance targets. Think of it like keys that unlock gradually — some unlock by calendar date, others only after agreed milestones. Investors care because vesting shapes management incentives, the timing of share sales, and the number of shares that can enter the market, which can affect a company's valuation and ownership mix.
Compensation Committee financial
"the Compensation Committee of the Board of Directors of the issuer shall determine achievement of performance goals..."
A compensation committee is a group within a company's leadership responsible for setting and reviewing how much top executives and employees are paid, including salaries, bonuses, and benefits. It matters to investors because fair and effective pay decisions can influence a company's performance, leadership motivation, and overall governance, helping ensure that the company’s management is aligned with shareholders’ interests.
contingent right financial
"Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of issuer common stock..."
FAQ
What does the Form 3 filing reveal about LE executive John T. DeFalco?
The Form 3 shows John T. DeFalco directly holds 13,657 Lands' End common shares, 51,913 time-based restricted stock units, and performance rights tied to 7,493 underlying shares, all subject to specified vesting and performance conditions over several future dates.
What restricted stock unit awards does John T. DeFalco have at Lands' End (LE)?
He holds time-based restricted stock units covering 51,913 shares of Lands' End common stock. These RSUs vest in multiple tranches between March 24, 2027 and March 23, 2029, contingent on meeting vesting conditions including maintaining a continuous business relationship.
How do John T. DeFalco’s performance rights in Lands' End (LE) vest?
The performance rights represent a contingent right to receive 7,493 Lands' End shares. They can vest up to 100% of target based on achieving specified average stock-price levels and other conditions, with performance certified after the fiscal year ending January 28, 2028.
When will Lands' End (LE) determine performance goal achievement for DeFalco’s awards?
No later than 90 days after completion of the audit for Lands’ End’s fiscal year ending January 28, 2028, the Compensation Committee will determine performance achievement and set the vesting date for the performance rights, based on its sole discretion and the plan’s criteria.
Are there any recent buy or sell transactions in this Lands' End (LE) Form 3?
The Form 3 is an initial ownership statement and does not report new buy or sell transactions. It lists DeFalco’s existing common stock, restricted stock units, and performance rights positions, along with the vesting conditions and future performance assessment framework.