La-Z-Boy (NYSE: LZB) GC exercises options and sells 13,671 shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
La-Z-Boy Inc. executive Raphaell Z. Richmond reported an exercise-and-sell transaction in company stock. On June 29, 2026, he sold 13,671 common shares in an open-market sale at a weighted average price of $39.83 per share, with individual trades ranging from $39.78 to $39.93.
On the same date, he exercised employee stock options for 13,671 common shares at an exercise price of $24.41 per share under the La-Z-Boy Incorporated 2017 Omnibus Incentive Plan, effectively converting options into common shares that were then sold. In related tax-withholding transactions on June 26, 2026 and June 28, 2026, 608 and 317 shares, respectively, were withheld at a reference price of $40.95 per share to satisfy tax obligations rather than sold on the open market.
Following these transactions, Richmond holds 51,695 La-Z-Boy common shares directly. No remaining options from this specific grant are shown after the exercise.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 13,671 shares ($544,534)
Net Sell
5 txns
Insider
Richmond Raphaell Z.
Role
VP, GC & Chief Compliance Off
Sold
13,671 shs ($545K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Options (right to buy) | 13,671 | $0.00 | -- |
| Exercise | Common Shares | 13,671 | $24.41 | $334K |
| Sale | Common Shares | 13,671 | $39.8313 | $545K |
| Tax Withholding | Common Shares | 317 | $40.95 | $13K |
| Tax Withholding | Common Shares | 608 | $40.95 | $25K |
Holdings After Transaction:
Employee Stock Options (right to buy) — 0 shares (Direct, null);
Common Shares — 65,366 shares (Direct, null)
Footnotes (1)
- The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $39.78 to $39.93, inclusive. The reporting person undertakes to provide the issuer, any security holder of issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein. These options were granted under the La-Z-Boy Incorporated 2017 Omnibus Incentive Plan and became exercisable in four equal annual installments beginning on the date shown in the Date Exercisable Column.
Key Figures
Open-market sale: 13,671 shares at $39.83
Options exercised: 13,671 shares at $24.41
Tax withholding shares: 925 shares at $40.95
+2 more
5 metrics
Open-market sale
13,671 shares at $39.83
Weighted average sale price on June 29, 2026
Options exercised
13,671 shares at $24.41
Employee stock options exercise on June 29, 2026
Tax withholding shares
925 shares at $40.95
F-code tax dispositions on June 26 and 28, 2026
Shares held after
51,695 shares
Direct ownership following reported transactions
Exercised option grant
13,671 options
2017 Omnibus Incentive Plan grant now fully exercised
Key Terms
open-market sale, derivative exercise/conversion, tax-withholding disposition, weighted average price, +1 more
5 terms
open-market sale financial
"transaction_action: open-market sale"
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
derivative exercise/conversion financial
"transaction_action: derivative exercise/conversion"
tax-withholding disposition financial
"transaction_action: tax-withholding disposition"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
weighted average price financial
"The price reported ... is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
2017 Omnibus Incentive Plan financial
"These options were granted under the La-Z-Boy Incorporated 2017 Omnibus Incentive Plan"
FAQ
What did La-Z-Boy (LZB) executive Raphaell Z. Richmond do in this Form 4 filing?
Raphaell Z. Richmond reported an exercise-and-sell transaction involving La-Z-Boy common shares. He exercised employee stock options and then sold the resulting 13,671 shares in the open market, plus had additional shares withheld to cover tax obligations, all reflected in his updated holdings.
What stock options did Raphaell Z. Richmond exercise in La-Z-Boy (LZB)?
He exercised employee stock options covering 13,671 La-Z-Boy common shares. These options carried an exercise price of $24.41 per share and were granted under the La-Z-Boy Incorporated 2017 Omnibus Incentive Plan, vesting in four equal annual installments before exercise.