Director Daniel Geballe receives 80 DERs tied to LEVI Class A stock

Rhea-AI Filing Summary

Insider acquisition reported: Director Daniel W. Geballe acquired 80 dividend equivalent rights (DERs) tied to Levi Strauss & Co. Class A common stock on 08/08/2025. Each DER is a contingent right to receive one share upon settlement; the DERs vest 100% on the earlier of the day before the next annual stockholder meeting or the first anniversary of the related grant. The reported acquisition carried a $0.00 price and increased Mr. Geballe's direct beneficial ownership to 11,634 Class A shares. Some underlying awards may include a deferred delivery feature that applies equally to the DERs.

Positive

• Director increased direct ownership via acquisition of 80 DERs, bringing beneficial ownership to 11,634 Class A shares

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: A director received 80 DERs that vest within a year or by the next annual meeting; this is a routine, non-material compensation-related grant.

The filing documents a standard director-related equity credit in the form of dividend equivalent rights rather than an open-market purchase. The DERs are contingent rights to one share each and vest fully by the earlier of the next annual meeting or one year, indicating these are compensation or retention-linked awards. The acquisition is reported at a $0.00 price and increases direct holdings to 11,634 shares, but the absolute size (80 DERs) is small relative to total outstanding shares and appears procedural rather than signaling a substantive change in insider alignment.

Securities Analyst

TL;DR: Transaction is an administrative settlement instrument (DERs) that may convert to shares later; impact on capitalization is immaterial.

This Form 4 discloses an acquisition code (A) for 80 DERs, each representing a contingent right to one Class A share upon settlement. The report shows a post-transaction direct holding of 11,634 shares. Because the DERs convert to single shares upon settlement and vest on a defined schedule, they do not immediately change voting or cash positions until settled. Given the small quantity relative to typical public-company float, the item is unlikely to be material to valuation or control and should be viewed as routine equity compensation administration.

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

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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^*

Geballe Daniel W

(Last) (First) (Middle)

1155 BATTERY ST

(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(1)		80	A	$0.00	11,634	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

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. Certain underlying awards are subject to a deferred delivery feature, these same terms apply to the related DERs.

	/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).
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.

FAQ

What did LEVI director Daniel W. Geballe acquire?

He acquired 80 dividend equivalent rights (DERs), each representing a contingent right to receive one share of Class A common stock upon settlement.

When do the DERs vest and convert to shares?

The DERs vest 100% on the earlier of the day before the next annual stockholder meeting or the first anniversary of the grant date; certain awards may have a deferred delivery feature with the same terms.

How many Levi Class A shares does Geballe beneficially own after the transaction?

Following the reported transaction, he directly beneficially owns 11,634 Class A shares.

What was the reported price for the DER acquisition?

The acquisition is reported at a price of $0.00 in the Form 4.

What is the transaction code reported on the Form 4?

The transaction is reported with Transaction Code A, indicating an acquisition.