McCormick Reports 213 Class A DERs and 41 Class B DERs on LEVI Form 4
Rhea-AI Filing Summary
Christopher J. McCormick, a director of Levi Strauss & Co. (LEVI), reported awards and related contingent dividend-equivalent rights on 08/08/2025. The filing shows the acquisition of 213 dividend equivalent rights (DERs) tied to Class A Common Stock and 41 DERs tied to Class B Common Stock, both reported as acquired at a $0.00 price. After these transactions, the report lists 70,103 shares of Class A Common Stock and 57,464 shares (or equivalents) of Class A Common Stock underlying Class B holdings as beneficially owned directly. The DERs vest and settle consistent with underlying awards; unvested awards vest on the earlier of the day before the next annual meeting or one year after grant, and some DERs are fully vested but subject to deferred delivery.
Positive
- Reported increase in director holdings: acquisition of 213 Class A DERs and 41 Class B DERs recorded, raising reported beneficial positions.
- Clear vesting terms disclosed: DERs vest consistent with underlying awards and accelerate to vest by the earlier of the next annual meeting or one-year post-grant, ensuring defined settlement timing.
- Some DERs fully vested but subject to a deferred delivery feature, indicating the director has vested entitlements even if delivery is deferred.
Negative
- None.
Insights
TL;DR: Director McCormick acquired executive award-related DERs on 08/08/2025, modestly increasing his reported beneficial holdings.
The Form 4 documents grant-related activity rather than open-market trading. The acquisition of 213 Class A DERs and 41 Class B DERs at $0.00 reflects compensation settlement mechanics, not a cash purchase. Reported beneficial ownership totals of 70,103 (Class A) and 57,464 (underlying Class B) are explicitly stated and should be used for shareholding calculations. Impact on share count or signaling is limited absent sale or cash purchase details.
TL;DR: This is routine disclosure of award settlements and vesting terms, with deferred delivery on some vested DERs.
The filing discloses vesting mechanics: DERs vest with underlying awards and unvested awards accelerate to vest by company meeting or one-year anniversary. Some DERs are fully vested but subject to a deferred delivery feature. The report is standard for executive/director compensation administration and raises no governance red flags based on the provided facts.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class B Common Stock | 41 | $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.
