Lands' End CEO exercises options, updates holdings

Accepted by SEC EDGAR 02/19/2026 - 04:00 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

LANDS' END, INC. Chief Executive Officer Andrew J. McLean reported option and share transactions involving company stock. On February 17, 2026, he exercised an employee stock option for 84,040 shares of common stock at an exercise price of $10.81 per share. In connection with this net exercise, 63,072 shares of common stock were withheld by the issuer to cover the option exercise price and related tax withholding, as reflected by a tax-withholding disposition at $18.32 per share. After these transactions, McLean directly owned 166,893 shares of Lands' End common stock.

Insider Trade Summary

84,040 shares exercised/converted

Exercise 3 txns

Insider McLean Andrew J.

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Exercise	Employee Stock Option (right to buy)	84,040	$0.00	$0.00
Exercise	Common Stock	84,040	$10.81	$908K
Exercise Price or Tax Liability	Common Stock	63,072	$18.32	$1.16M

Holdings After Transaction: Employee Stock Option (right to buy) — 0 contracts (Direct); Common Stock — 166,893 shares (Direct)

Holdings Before and After: Employee Stock Option (right to buy), 84,040 to 0 contracts (Direct); Common Stock, 145,925 to 166,893 shares (Direct)

Footnotes (3)

1. F1. On February 17, 2026, the reporting person exercised stock options on a net exercise basis.
2. F2. Shares withheld by the issuer and forfeited by the reporting person upon net exercise of stock options, to satisfy the payment of the exercise price and tax withholding in connection with the exercise.
3. F3. This stock option award was granted on November 1, 2022, with vesting in three installments on November 1, 2023 (25%), November 1, 2024 (25%) and November 1, 2025 (50%).

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did Lands' End (LE) CEO Andrew McLean report?

Andrew McLean reported exercising employee stock options for 84,040 Lands' End common shares and a related share withholding for taxes and exercise costs. These movements were recorded as derivative exercise and tax-withholding disposition transactions, changing his direct ownership balance in the company’s stock.

How many Lands' End (LE) shares did the CEO acquire through option exercise?

The CEO acquired 84,040 shares of Lands' End common stock by exercising employee stock options. This exercise converted derivative securities into common shares at a stated exercise price per share, increasing his directly held stock before accounting for shares withheld for tax and exercise obligations.

How many Lands' End (LE) shares were withheld for taxes and exercise costs?

A total of 63,072 Lands' End common shares were withheld and forfeited in connection with the net exercise. The issuer retained these shares to satisfy the option exercise price and tax withholding requirements, as described in the transaction footnotes and coded as a tax-withholding disposition.

What is Andrew McLean’s Lands' End (LE) share ownership after these transactions?

Following the reported option exercise and related share withholding, Andrew McLean directly owned 166,893 shares of Lands' End common stock. This figure reflects his updated direct beneficial ownership after converting options and settling the associated obligations through share forfeiture.

What do the Form 4 transaction codes M and F mean for Lands' End (LE)?

Code M on the Form 4 indicates an exercise or conversion of a derivative security, here employee stock options. Code F records shares delivered or withheld to pay the exercise price or tax liability, describing the shares forfeited back to the issuer during the net exercise.

When were the exercised Lands' End (LE) stock options originally granted and how did they vest?

The exercised stock option award was granted on November 1, 2022. It vested in three tranches: 25% on November 1, 2023, another 25% on November 1, 2024, and the remaining 50% on November 1, 2025, according to the disclosed vesting schedule.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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^*

McLean Andrew J.

(Last) (First) (Middle)

5 LANDS' END LANE

(Street)

DODGEVILLE WI 53595

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
02/17/2026

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	02/17/2026		M		84,040(1)	A	$10.81	229,965	D
Common Stock	02/17/2026		F		63,072(2)	D	$18.32	166,893	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
Employee Stock Option (right to buy)	$10.81	02/17/2026		M			84,040	(3)	11/01/2032	Common Stock	84,040	$0	0	D

Explanation of Responses:

1. On February 17, 2026, the reporting person exercised stock options on a net exercise basis.

2. Shares withheld by the issuer and forfeited by the reporting person upon net exercise of stock options, to satisfy the payment of the exercise price and tax withholding in connection with the exercise.

3. This stock option award was granted on November 1, 2022, with vesting in three installments on November 1, 2023 (25%), November 1, 2024 (25%) and November 1, 2025 (50%).

	/s/ Peter L. Gray as attorney-in-fact for Andrew J. McLean	02/19/2026
	** 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.
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