LEVI insider report: Jill Beraud acquires Class A and B dividend-equivalent rights

Rhea-AI Filing Summary

Jill Beraud, a director of Levi Strauss & Co. (LEVI), filed a Form 4 disclosing acquisitions on 08/08/2025. The filing reports the acquisition of 82 dividend equivalent rights (DERs) tied to Class A Common Stock at a reported price of $0.00; after the transaction she beneficially owned 172,616 Class A shares directly. The filing also reports acquisition of 97 DERs tied to Class B Common Stock (each Class B share convertible into one Class A share) at $0.00; the filing shows 14,095 derivative securities beneficially owned following the transaction.

The Form explains the 82 DERs vest 100% on the earlier of the day before the next annual stockholder meeting or the first anniversary of the underlying award, while the 97 DERs are fully vested and the underlying Class B shares issuable pursuant to those DERs are subject to a deferral delivery feature. The Form was filed by one reporting person and signed by an attorney-in-fact on 08/12/2025.

Positive

• Acquisition of 82 DERs tied to Class A Common Stock at $0.00 is explicitly disclosed
• Acquisition of 97 DERs tied to Class B Common Stock is explicitly disclosed and those DERs are fully vested
• Beneficial ownership after transactions is stated: 172,616 Class A shares (direct) and 14,095 derivative securities (direct)

Negative

• Some awarded DERs are reported at a $0.00 price, indicating grant issuance rather than market purchase
• Underlying Class B shares issuable pursuant to certain DERs are subject to a deferral delivery feature, which delays settlement of those shares

Insights

Securities Analyst

TL;DR: Director received stock-settled dividend equivalent rights and reported meaningful direct and derivative holdings.

The filing documents acquisitions on 08/08/2025 of equity-settled dividend equivalent rights (DERs) recorded at a $0.00 price, which is consistent with compensation grants rather than open-market purchases. Post-transaction holdings are explicit: 172,616 Class A shares directly and 14,095 derivative securities directly. These entries are primarily disclosure of compensation-related awards and do not by themselves indicate trading activity or sales. The convertibility note for Class B shares and the deferral delivery feature are material for timing of settlement but are disclosed as contractual terms rather than executed transfers.

Corporate Governance Expert

TL;DR: Grants include explicit vesting and deferral terms; disclosure aligns with executive/director compensation reporting norms.

The Form 4 specifies vesting mechanics: the 82 DERs vest in full by the earlier of the day before the next annual meeting or one year after grant, while 97 DERs are fully vested but subject to a deferral delivery feature. These provisions affect when shares may be delivered to the reporting person and are relevant to governance oversight of equity compensation timing. The filing was executed by an attorney-in-fact and filed by a single reporting person, indicating standard administrative processing of insider award reporting.

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

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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^*

Beraud Jill

(Last) (First) (Middle)

C/O LEVI STRAUSS & CO.

1155 BATTERY STREET

(Street)

SAN FRANCISCO CA 94111

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
LEVI STRAUSS & CO [ LEVI ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/08/2025

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
Class A Common Stock	08/08/2025		A		82(1)	A	$0.00	172,616	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
Class B Common Stock	$0.00(2)	08/08/2025		A		97(3)		(2)	(2)	Class A Common Stock	97	$0.00	14,095	D

Explanation of Responses:

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 shall 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.

2. 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.

3. 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.

	/s/ Priscilla Duncan-Tannous, Attorney-in-Fact	08/12/2025
	** 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).
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FAQ

Who filed the Form 4 for LEVI?

The Form 4 was filed by Jill Beraud, reporting person and Director of Levi Strauss & Co., with the filing signed by an attorney-in-fact on 08/12/2025.

What transactions were reported on the LEVI Form 4 dated 08/08/2025?

The filing reports acquisitions on 08/08/2025 of 82 dividend equivalent rights (DERs) tied to Class A Common Stock and 97 DERs tied to Class B Common Stock, each reported at $0.00.

How many shares does Jill Beraud beneficially own after the reported transactions?

Following the reported transactions, the Form shows 172,616 Class A shares beneficially owned directly and 14,095 derivative securities beneficially owned directly.

Are the DERs vested and when do they settle?

The 82 Class A DERs vest 100% by the earlier of the day before the next annual stockholder meeting or the first anniversary of grant; the 97 Class B DERs are fully vested and the underlying Class B shares have a deferral delivery feature.

Are Class B shares convertible into Class A shares?

Yes. The filing states 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.