Lands' End (LE) executive logs RSU exercise, tax withholding and large new award

Rhea-AI Filing Summary

LANDS' END, INC. executive Peter L. Gray reported equity compensation and related tax withholding transactions in company stock. On March 24, 2026, he exercised Restricted Stock Units (RSUs) to acquire 6,822 shares of common stock at a conversion price of $0.00 per share, then had 2,336 shares withheld at $12.56 per share to cover tax obligations from RSU vesting. After these transactions, he directly held 150,733 shares of common stock. On March 23, 2026, he also received an award of 32,577 time-based RSUs, each representing one share of common stock upon vesting, bringing his RSU holdings to 101,297 units, subject to future vesting conditions tied to continued service and specific vesting dates through March 23, 2029.

Insights

Equity Compensation Analyst

Routine RSU vesting, tax withholding, and new grant with no open-market trades.

The transactions for LANDS' END, INC. show standard executive equity activity. Peter L. Gray exercised 6,822 RSUs into common stock at a conversion price of $0.00, reflecting previously granted compensation rather than a market purchase.

The Form 4 also reports 2,336 shares withheld at $12.56 per share to satisfy tax liabilities from vesting, which is a non-market disposition and not an open-market sale. A new grant of 32,577 time-based RSUs increased his unvested equity exposure.

These RSUs vest in tranches from 2026 through 2029, conditioned on maintaining a continuous business relationship. The filing indicates continued alignment with the company's long-term performance, with no discretionary buying or selling of shares in the open market.

Insider Trade Summary

6,822 shares exercised/converted

Mixed 4 txns

Insider GRAY PETER L

Role PRES LE Licensing, CAO & GC

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	6,822	$0.00	--
Exercise	Common Stock	6,822	$0.00	--
Tax Withholding	Common Stock	2,336	$12.56	$29K
Grant/Award	Restricted Stock Units	32,577	$0.00	--

Holdings After Transaction: Restricted Stock Units — 94,475 shares (Direct); Common Stock — 153,069 shares (Direct)

Footnotes (1)

1. Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of common stock upon satisfaction of the vesting conditions. Shares withheld by the issuer to satisfy reporting person's tax withholding obligation incurred in connection with the vesting of RSUs. These are time-based RSUs that will vest, subject to satisfaction of vesting conditions including a continuous business relationship, in three annual installments on March 23, 2027 (25%), March 23, 2028 (25%) and March 23, 2029 (50%). This RSU award was granted on March 24, 2025, with vesting in three installments on March 24, 2026 (25%), March 24, 2027 (25%) and March 24, 2028 (50%). Of the total number of RSUs, 21,736 RSUs will vest on June 14, 2026; 6,565 RSUs will vest on April 1, 2026 and 13,130 RSUs will vest on April 1, 2027; 6,822 will vest on March 24, 2027 and 13,645 will vest on March 24, 2028; and 8,144 will vest on March 23, 2027, 8,144 will vest on March 23, 2028 and 16,289 will vest on March 23, 2029; subject in each case to the satisfaction of vesting conditions, including maintaining a continuous business relationship.

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
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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^*

GRAY PETER L

(Last) (First) (Middle)

5 LANDS' END LANE

(Street)

DODGEVILLE WISCONSIN 53595

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
LANDS' END, INC. [ LE ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	PRES LE Licensing, CAO & GC

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/23/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	03/24/2026		M		6,822	A	$0(1)	153,069	D
Common Stock	03/24/2026		F		2,336(2)	D	$12.56	150,733	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
Restricted Stock Units	$0(1)	03/23/2026		A		32,577		(3)	(3)	Common Stock	32,577	$0	101,297	D
Restricted Stock Units	$0(1)	03/24/2026		M			6,822	(4)	(4)	Common Stock	6,822	$0	94,475(5)	D

Explanation of Responses:

1. Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of common stock upon satisfaction of the vesting conditions.

2. Shares withheld by the issuer to satisfy reporting person's tax withholding obligation incurred in connection with the vesting of RSUs.

3. These are time-based RSUs that will vest, subject to satisfaction of vesting conditions including a continuous business relationship, in three annual installments on March 23, 2027 (25%), March 23, 2028 (25%) and March 23, 2029 (50%).

4. This RSU award was granted on March 24, 2025, with vesting in three installments on March 24, 2026 (25%), March 24, 2027 (25%) and March 24, 2028 (50%).

5. Of the total number of RSUs, 21,736 RSUs will vest on June 14, 2026; 6,565 RSUs will vest on April 1, 2026 and 13,130 RSUs will vest on April 1, 2027; 6,822 will vest on March 24, 2027 and 13,645 will vest on March 24, 2028; and 8,144 will vest on March 23, 2027, 8,144 will vest on March 23, 2028 and 16,289 will vest on March 23, 2029; subject in each case to the satisfaction of vesting conditions, including maintaining a continuous business relationship.

	/s/ Peter L. Gray	03/25/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What equity transactions did Lands' End (LE) officer Peter L. Gray report?

Peter L. Gray reported exercising 6,822 Restricted Stock Units into common stock and a related tax-withholding disposition of 2,336 shares, plus a new grant of 32,577 time-based RSUs. These actions reflect routine equity compensation activity rather than open-market buying or selling.

How many Lands' End (LE) shares does Peter L. Gray hold after these Form 4 transactions?

After the reported transactions, Peter L. Gray directly holds 150,733 shares of Lands' End common stock. He also holds 101,297 Restricted Stock Units, each representing a contingent right to receive one share of common stock upon satisfaction of vesting conditions over future years.

Were any of Peter L. Gray’s Lands' End (LE) transactions open-market purchases or sales?

None of the reported transactions were open-market trades. The Form 4 shows an RSU exercise, a tax-withholding disposition where 2,336 shares were withheld by the issuer, and a new RSU grant, all related to compensation and vesting rather than discretionary market buying or selling.

What are the vesting terms of Peter L. Gray’s new Lands' End (LE) RSU grant?

The 32,577 time-based RSUs granted to Peter L. Gray vest in three installments: 25% on March 23, 2027, 25% on March 23, 2028, and 50% on March 23, 2029. Vesting depends on satisfying conditions, including maintaining a continuous business relationship.

How are Lands' End (LE) RSUs used to satisfy Peter L. Gray’s tax obligations?

When RSUs vest, Lands' End withholds some shares to cover associated tax liabilities. In this filing, 2,336 shares of common stock were withheld at a price of $12.56 per share, representing a tax-withholding disposition rather than an open-market sale by Peter L. Gray.

What future vesting schedule is disclosed for Peter L. Gray’s Lands' End (LE) RSUs?

The filing notes multiple vesting dates through March 23, 2029. Various RSU tranches are scheduled to vest on June 14, 2026, April 1, 2026 and 2027, March 24, 2027 and 2028, and March 23 of 2027, 2028, and 2029, subject to continuous service conditions.