Spencer Fleischer Adds Class A and B DERs on 08/08/2025 — LEVI Insider Filing
Rhea-AI Filing Summary
Spencer C. Fleischer, a director of Levi Strauss & Co. (LEVI), reported acquisitions of dividend equivalent rights that will convert into common stock upon settlement. On 08/08/2025 he acquired 213 DERs tied to Class A Common Stock and 187 DERs tied to Class B Common Stock, each recorded with a transaction code A and a price of $0.00. Following these acquisitions the report shows 64,500 shares of Class A Common Stock beneficially owned and 116,515 shares underlying derivative securities beneficially owned. The filing explains that DERs represent contingent rights to receive one share per DER upon settlement, vesting consistent with underlying awards and subject in some cases to deferred delivery, and notes Class B shares convert one-for-one into Class A shares.
Positive
- None.
Negative
- None.
Insights
TL;DR: Director acquisitions of DERs on 08/08/2025 increase reported beneficial holdings; routine equity compensation activity with no stated cash consideration.
The Form 4 shows Spencer C. Fleischer acquired 213 DERs linked to Class A and 187 DERs linked to Class B, each at $0.00 under transaction code A, indicating grant or issuance rather than open-market purchase. The post-transaction totals—64,500 Class A shares and 116,515 underlying shares from derivatives—represent reported beneficial ownership levels. For investors, this is compensation-related insider activity rather than a direct market purchase signal; materiality appears limited absent additional context on company outstanding shares or large-scale conversions.
TL;DR: Grant of dividend-equivalent rights reflects standard director compensation mechanics; vesting and deferred delivery provisions are disclosed.
The disclosure clarifies that the reported items are dividend equivalent rights (DERs) that convert to shares upon settlement and vest in line with underlying awards, with unvested awards accelerating to the earlier of the day before the next annual meeting or the first anniversary of grant. Some underlying awards are fully vested but subject to deferred delivery. The Form 4 properly discloses the nature, quantity, and conversion characteristics, including that Class B shares convert one-for-one into Class A shares, providing transparency on governance-linked equity arrangements.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class B Common Stock | 187 | $0.00 | -- |
| Grant/Award | Class A Common Stock | 213 | $0.00 | -- |
Footnotes (1)
- Represents dividend equivalent rights (DERs), each of which represents a contingent right to receive one share of the issuer's Class A Common Stock upon settlement. The DERs vest and are delivered consistent with the underlying awards to which they relate. Unvested awards and the related DERs vest as to 100% of the shares on the earlier of the day before the next Annual Stockholder Meeting or the first anniversary of the date of grant of the underlying award. Certain underlying awards are fully vested and are subject to a deferred delivery feature, these same terms apply to the related DERs. Each share of Class B Common Stock is convertible into one share of Class A Common Stock at the option of the holder and has no expiration date. Represents DERs, each of which represents a contingent right to receive one share of the issuer's Class B Common Stock upon settlement. The DERs are fully vested. The underlying shares of Class B Common Stock issuable pursuant to the DERs are subject to a deferral delivery feature.
