La-Z-Boy President boosts stake 42% after RSU vesting, no sales

Rhea-AI Filing Summary

La-Z-Boy (NYSE:LZB) filed a Form 4 detailing insider activity by Terrence J. Linz, President – Portfolio Brands.

• 19,716 shares acquired through RSU/PSU vesting on 06/23/2025; acquisition price recorded as $0.
• 3,620 shares withheld at $38.14–$38.26 to satisfy taxes (“F” code).
• Net increase: 16,096 shares, lifting direct ownership to 54,275 shares—a 42% rise from the pre-transaction balance of 38,179.
• Approximate market value of net award ≈ $0.6 million.

No open-market sales or purchases were reported; transactions stem from equity-compensation plans and do not invoke a 10b5-1 plan. While not affecting operations, the size of the award exceeds SEC materiality thresholds and may signal management-shareholder alignment.

Positive

• Executive shareholding up 42% (+16,096 shares ≈ $0.6 M), surpassing SEC materiality threshold and strengthening alignment with shareholders

Negative

• None.

Insights

Insider Trading Analyst

Large RSU vest adds 42% to insider stake; no cash sales—moderately positive governance signal.

Linz’s net 16,096-share gain crosses the >5% ownership threshold and approaches $0.6 M at prevailing prices. Because the shares were granted, not bought, the move reflects compensation mechanics rather than opportunistic buying, yet the absence of open-market selling avoids bearish optics. The step-up strengthens insider alignment but offers limited read-through for near-term earnings or liquidity. Investors should monitor future 10b5-1 activity for any monetization of the new stake.

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Linz Terrence James

(Last) (First) (Middle)

1 LA-Z-BOY DRIVE

(Street)

MONROE MI 48162

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
LA-Z-BOY INC [ LZB ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President, Portfolio Brands

3. Date of Earliest Transaction (Month/Day/Year)
06/23/2025

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
Common Shares	06/23/2025		A		8,138	A	$0	46,317	D
Common Shares	06/23/2025		F		565	D	$38.26	45,752	D
Common Shares	06/23/2025		F		232	D	$38.26	45,520	D
Common Shares	06/23/2025		A		1,727	A	$0	47,247	D
Common Shares	06/23/2025		F		494	D	$38.26	46,753	D
Common Shares	06/23/2025		A		6,457	A	$0	53,210	D
Common Shares	06/23/2025		F		1,847	D	$38.26	51,363	D
Common Shares	06/23/2025		A		2,094	A	$0	53,457	D
Common Shares	06/23/2025		A		1,300	A	$0	54,757	D
Common Shares	06/24/2025		F		482	D	$38.14	54,275	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:

Remarks:

	/s/ Uzma Ahmad, Attorney-in-Fact	06/25/2025
	** 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

How many La-Z-Boy shares did Terrence Linz acquire on 06/23/2025?

He received 19,716 common shares via RSU/PSU vesting, as shown in Table I of the Form 4.

What is Terrence Linz's total La-Z-Boy ownership after the transactions?

The filing lists 54,275 shares beneficially owned following all reported transactions.

At what prices were shares withheld for taxes in the LZB Form 4?

Shares were surrendered at $38.26 on 06/23/2025 and $38.14 on 06/24/2025.

Did Terrence Linz sell any La-Z-Boy shares on the open market?

No. All "F" coded dispositions represent tax withholdings; no open-market sales were reported.

By what percentage did Linz's La-Z-Boy shareholding increase?

His direct stake rose from 38,179 to 54,275 shares, a 42% increase.