STOCK TITAN

[Form 4] MARCUS CORP Insider Trading Activity

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
4

Diane M. Gershowitz, a director and >10% owner of Marcus Corporation (MCS), reported multiple transactions on 09/15/2025. The filing shows an exchange of 5,846 Class B shares into 5,846 Common Stock shares at $0, and a reported disposition of 8,000 Common Stock shares, leaving her direct beneficial ownership at 34,045 shares. The report also lists substantial indirect holdings: 175,617.223 Common Stock shares held indirectly by DG-LDJ Holdings, LLC, trustee and trust holdings of 131,506 and 50,845 shares respectively, and a total of 1,915,592 Common Stock shares beneficially owned indirectly after conversion.

The filing records multiple outstanding stock options with exercise prices and expiration dates, and notes that Class B shares convert 1-for-1 into Common Stock and carry 10 votes per share. All figures are taken directly from the Form 4 without inference.

Diane M. Gershowitz, una direttrice e proprietaria >10% della Marcus Corporation (MCS), ha riferito diverse transazioni il 15/09/2025. La modulazione mostra uno scambio di 5.846 azioni Class B in 5.846 azioni di Common Stock a $0, e una disposizione riportata di 8.000 azioni di Common Stock, lasciando la sua proprietà benefica diretta a 34.045 azioni. Il rapporto elenca anche partecipazioni indirette sostanziali: 175.617,223 azioni di Common Stock detenute indirettamente da DG-LDJ Holdings, LLC, fiduciaria e partecipazioni del trust di 131.506 e 50.845 azioni rispettivamente, e un totale di 1.915.592 azioni di Common Stock detenute indirettamente beneficiamente dopo la conversione.

La segnalazione riporta diverse opzioni azionarie in sospeso con prezzi di esercizio e date di scadenza, e segnala che le azioni Class B si convertono 1-1 in Common Stock e comportano 10 voti per azione. Tutti i dati sono tratti direttamente dal Form 4 senza inferenze.

Diane M. Gershowitz, una directora y propietaria >10% de Marcus Corporation (MCS), informó de múltiples transacciones el 15/09/2025. El expediente muestra un canje de 5,846 acciones Clase B por 5,846 acciones de Common Stock a $0, y una disposición reportada de 8,000 acciones comunes, dejando su propiedad beneficiosa directa en 34,045 acciones. El informe también lista participaciones indirectas sustanciales: 175.617,223 acciones de Common Stock mantenidas indirectamente por DG-LDJ Holdings, LLC, fiduciaria y participaciones del fideicomiso de 131,506 y 50,845 acciones respectivamente, y un total de 1.915.592 acciones de Common Stock poseídas indirectamente beneficiosamente tras la conversión.

El expediente registra múltiples opciones de acciones pendientes con precios de ejercicio y fechas de vencimiento, y señala que las acciones Clase B se convierten 1 a 1 en Common Stock y llevan 10 votos por acción. Todas las cifras se toman directamente del Form 4 sin inferencia.

Diane M. Gershowitz, Marcus Corporation(MCS)의 이사이자 >10% 소유주는 2025년 9월 15일에 여러 건의 거래를 보고했다. 신고서에선 5,846 Class B 주를 5,846 보통주로 무상전환하고 $0인 거래, 그리고 8,000 보통주 처분이 보고되어 직접 지배 지분이 34,045 주로 남겨졌다.

또한 간접 보유가 큰 것으로 목록화되었는데: DG-LDJ Holdings, LLC가 간접 보유한 175,617.223 보통주, 신탁 보유 지분으로 131,506 주와 50,845 주가 각각 있으며, 전환 후 간접적으로 유익하게 보유하는 보통주 총액은 1,915,592 주이다.

신고서는 행사 가격과 만료일이 있는 다수의 미지급 주식 옵션을 기록하고, Class B 주가 1대 1로 보통주로 전환되며 주당 10표의 투표권을 가진다고 명시한다. 모든 수치는 Form 4에서 직접 가져온 것이며 추정이 아니다.

Diane M. Gershowitz, une directrice et propriétaire >10% de Marcus Corporation (MCS), a signalé plusieurs transactions le 15/09/2025. Le dossier montre un échange de 5 846 actions de classe B en 5 846 actions ordinaires à 0$, et une cession déclarée de 8 000 actions ordinaires, laissant sa propriété bénéficiaire directe à 34 045 actions. Le rapport répertorie également des détentions indirectes substantielles : 175 617,223 actions ordinaires détenues indirectement par DG-LDJ Holdings, LLC, fiduciaire et des participations du trust de 131 506 et 50 845 actions respectivement, et un total de 1 915 592 actions ordinaires détenues bénéficiellement indirectement après la conversion.

Le dossier répertorie plusieurs options d'achat en suspens avec des prix d'exercice et des dates d'expiration, et note que les actions de classe B se convertissent 1 pour 1 en actions ordinaires et disposent de 10 voix par action. Tous les chiffres sont tirés directement du Form 4 sans spéculation.

Diane M. Gershowitz, eine Direktorin und >10%-Eigentümerin von Marcus Corporation (MCS), hat am 15.09.2025 mehrere Transaktionen gemeldet. Die Einreichung zeigt einen Tausch von 5.846 Class-B-Aktien in 5.846 Stammaktien zu 0$ und eine berichtete Veräußerung von 8.000 Stammaktien, wodurch sich ihr direktes wirtschaftliches Eigentum auf 34.045 Aktien belässt.

Der Bericht listet auch wesentliche indirekte Beteiligungen: 175.617,223 Stammaktien, die indirekt von DG-LDJ Holdings, LLC gehalten werden, Treuhand- und Treuhandbestände von 131.506 bzw. 50.845 Aktien und insgesamt 1.915.592 Stammaktien, die nach der Umwandlung indirekt wirtschaftlich berechtigt gehalten werden.

Die Einreichung verzeichnet mehrere ausstehende Aktienoptionen mit Ausübungspreisen und Verfallsdaten und stellt fest, dass Class-B-Aktien 1:1 in Stammaktien umgewandelt werden und pro Aktie 10 Stimmrechte tragen. Alle Zahlen stammen direkt aus dem Form 4 ohne Interpretation.

ديان م. جورشوويتز، مديرة ومالكة >10% لشركة Marcus Corporation (MCS)، أبلغت عن عدة معاملات في 15/09/2025. يظهر الملف تبادلاً لــ 5,846 سهم من فئة B إلى 5,846 سهم من الأسهم العادية بسعر 0 دولار، وتقرير بتصرف 8,000 سهم عادي، مما يترك ملكيتها المباشرة الفاعلة عند 34,045 سهماً. يذكر التقرير أيضاً ممتلكات غير مباشرة كبيرة: 175,617.223 سهم عادي يحتفظ به بشكل غير مباشر من DG-LDJ Holdings, LLC، وحقوق ائتمانية في الثقة بمقدار 131,506 سهم و 50,845 سهم على التوالي، وإجمالي 1,915,592 سهم عادي مملوك بشكل غير مباشر بعد التحويل.

يسجل الملف خيارات أسهم معلقة متعددة مع أسعار ممارسة وتواريخ انتهاء، ويشير إلى أن أسهم فئة B تتحول 1-ل-1 إلى الأسهم العادية وتحمل 10 أصوات لكل سهم. جميع الأرقام مأخوذة مباشرة من Form 4 دون استنتاج.

Diane M. Gershowitz, Marcus Corporation(MCS)的董事兼 >10% 控股人,已在 2025-09-15 报告了多笔交易。 申报显示将 5,846 股 B 类股票按每股 0 美元兑换为 5,846 股普通股,并报告处置 8,000 股普通股,使其直接权益仍为 34,045 股。

报告还列出大量间接持有:DG-LDJ Holdings, LLC 间接持有的 175,617.223 股普通股,信托及信托持股分别为 131,506 股和 50,845 股,总计在转换后间接受益的普通股为 1,915,592 股。

申报记录了多项尚未行使的股票期权,包含行使价和到期日,并指出 B 类股 1:1 转换为普通股,每股具备 10 票表决权。所有数字均直接来自 Form 4,未作推断。

Positive
  • Conversion of Class B to Common Stock (5,846 shares) recorded, reflecting entitled 1-for-1 conversion terms
  • Substantial indirect holdings retained via DG-LDJ Holdings, LLC (175,617.223 shares) and named trusts (131,506 and 50,845 shares), preserving significant ownership influence
  • Multiple vested options remain outstanding, providing potential future alignment via equity incentives
Negative
  • Disposition of 8,000 Common Stock shares on 09/15/2025 reduced direct beneficial ownership to 34,045 shares
  • Direct holdings are relatively small compared with indirect holdings, which may complicate assessment of immediate insider selling vs structural transfers

Insights

TL;DR: Insider reported share conversion, dispositions, and large indirect holdings; changes appear administrative, not clearly strategic.

The Form 4 documents a conversion of Class B into Common Stock and a sale/disposition of 8,000 common shares, reducing direct holdings to 34,045 shares while significant indirect holdings remain via DG-LDJ Holdings and trusts. The conversion at $0 reflects a 1-for-1 structural conversion rather than a market purchase. Multiple long-dated and short-dated options remain outstanding, indicating continued potential for future equity-based changes in ownership. From a governance perspective, the persistence of large indirect holdings and trustee-held shares maintains existing control structures; the reported transactions are material to ownership totals but the filing contains no additional context on intent or corporate actions.

TL;DR: Reported trades change direct share count modestly; indirect holdings dominate reported ownership.

The trade lines show a small net reduction in direct common shares after a conversion and a disposition, while indirect ownership positions (including 175,617.223 shares via DG-LDJ Holdings and trust-held positions) represent the bulk of reported beneficial ownership. The presence of multiple vested options with specified exercise prices and expirations is noted; these are disclosed per plan rules. The Form 4 provides clear transactional detail but no pricing for dispositions is shown beyond $0 for the conversion entries, consistent with internal structural exchanges rather than open-market sales. Impact on control or voting dynamics should be assessed in the context of total outstanding shares, which is not provided here.

Diane M. Gershowitz, una direttrice e proprietaria >10% della Marcus Corporation (MCS), ha riferito diverse transazioni il 15/09/2025. La modulazione mostra uno scambio di 5.846 azioni Class B in 5.846 azioni di Common Stock a $0, e una disposizione riportata di 8.000 azioni di Common Stock, lasciando la sua proprietà benefica diretta a 34.045 azioni. Il rapporto elenca anche partecipazioni indirette sostanziali: 175.617,223 azioni di Common Stock detenute indirettamente da DG-LDJ Holdings, LLC, fiduciaria e partecipazioni del trust di 131.506 e 50.845 azioni rispettivamente, e un totale di 1.915.592 azioni di Common Stock detenute indirettamente beneficiamente dopo la conversione.

La segnalazione riporta diverse opzioni azionarie in sospeso con prezzi di esercizio e date di scadenza, e segnala che le azioni Class B si convertono 1-1 in Common Stock e comportano 10 voti per azione. Tutti i dati sono tratti direttamente dal Form 4 senza inferenze.

Diane M. Gershowitz, una directora y propietaria >10% de Marcus Corporation (MCS), informó de múltiples transacciones el 15/09/2025. El expediente muestra un canje de 5,846 acciones Clase B por 5,846 acciones de Common Stock a $0, y una disposición reportada de 8,000 acciones comunes, dejando su propiedad beneficiosa directa en 34,045 acciones. El informe también lista participaciones indirectas sustanciales: 175.617,223 acciones de Common Stock mantenidas indirectamente por DG-LDJ Holdings, LLC, fiduciaria y participaciones del fideicomiso de 131,506 y 50,845 acciones respectivamente, y un total de 1.915.592 acciones de Common Stock poseídas indirectamente beneficiosamente tras la conversión.

El expediente registra múltiples opciones de acciones pendientes con precios de ejercicio y fechas de vencimiento, y señala que las acciones Clase B se convierten 1 a 1 en Common Stock y llevan 10 votos por acción. Todas las cifras se toman directamente del Form 4 sin inferencia.

Diane M. Gershowitz, Marcus Corporation(MCS)의 이사이자 >10% 소유주는 2025년 9월 15일에 여러 건의 거래를 보고했다. 신고서에선 5,846 Class B 주를 5,846 보통주로 무상전환하고 $0인 거래, 그리고 8,000 보통주 처분이 보고되어 직접 지배 지분이 34,045 주로 남겨졌다.

또한 간접 보유가 큰 것으로 목록화되었는데: DG-LDJ Holdings, LLC가 간접 보유한 175,617.223 보통주, 신탁 보유 지분으로 131,506 주와 50,845 주가 각각 있으며, 전환 후 간접적으로 유익하게 보유하는 보통주 총액은 1,915,592 주이다.

신고서는 행사 가격과 만료일이 있는 다수의 미지급 주식 옵션을 기록하고, Class B 주가 1대 1로 보통주로 전환되며 주당 10표의 투표권을 가진다고 명시한다. 모든 수치는 Form 4에서 직접 가져온 것이며 추정이 아니다.

Diane M. Gershowitz, une directrice et propriétaire >10% de Marcus Corporation (MCS), a signalé plusieurs transactions le 15/09/2025. Le dossier montre un échange de 5 846 actions de classe B en 5 846 actions ordinaires à 0$, et une cession déclarée de 8 000 actions ordinaires, laissant sa propriété bénéficiaire directe à 34 045 actions. Le rapport répertorie également des détentions indirectes substantielles : 175 617,223 actions ordinaires détenues indirectement par DG-LDJ Holdings, LLC, fiduciaire et des participations du trust de 131 506 et 50 845 actions respectivement, et un total de 1 915 592 actions ordinaires détenues bénéficiellement indirectement après la conversion.

Le dossier répertorie plusieurs options d'achat en suspens avec des prix d'exercice et des dates d'expiration, et note que les actions de classe B se convertissent 1 pour 1 en actions ordinaires et disposent de 10 voix par action. Tous les chiffres sont tirés directement du Form 4 sans spéculation.

Diane M. Gershowitz, eine Direktorin und >10%-Eigentümerin von Marcus Corporation (MCS), hat am 15.09.2025 mehrere Transaktionen gemeldet. Die Einreichung zeigt einen Tausch von 5.846 Class-B-Aktien in 5.846 Stammaktien zu 0$ und eine berichtete Veräußerung von 8.000 Stammaktien, wodurch sich ihr direktes wirtschaftliches Eigentum auf 34.045 Aktien belässt.

Der Bericht listet auch wesentliche indirekte Beteiligungen: 175.617,223 Stammaktien, die indirekt von DG-LDJ Holdings, LLC gehalten werden, Treuhand- und Treuhandbestände von 131.506 bzw. 50.845 Aktien und insgesamt 1.915.592 Stammaktien, die nach der Umwandlung indirekt wirtschaftlich berechtigt gehalten werden.

Die Einreichung verzeichnet mehrere ausstehende Aktienoptionen mit Ausübungspreisen und Verfallsdaten und stellt fest, dass Class-B-Aktien 1:1 in Stammaktien umgewandelt werden und pro Aktie 10 Stimmrechte tragen. Alle Zahlen stammen direkt aus dem Form 4 ohne Interpretation.

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).
1. Name and Address of Reporting Person*
GERSHOWITZ DIANE M

(Last) (First) (Middle)
THE MARCUS CORPORATION
111 E KILBOURN AVENUE, SUITE 1200

(Street)
MILWAUKEE WI 53202

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
MARCUS CORP [ MCS ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025
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 Stock 09/15/2025 P(1) 5,846 A $0 42,045 D
Common Stock 09/15/2025 G 8,000 D $0 34,045 D
Common Stock 175,617.223 I By DG-LDJ Holdings, LLC
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 (2) 09/15/2025 S(1) 5,846 (3) (4) Common Stock 5,846 $0 1,915,592 I By DG-LDJ Holdings, LLC
Stock Option (right to buy)(5) $19.65 05/28/2015 05/28/2025 Common Stock 1,000 1,000 D
Stock Option (right to buy)(5) $18.97 12/29/2015 12/29/2025 Common Stock 583 583 D
Stock Option (right to buy)(5) $31.55 12/29/2016 12/29/2026 Common Stock 1,000 1,000 D
Stock Option (right to buy)(5) $27.2 12/28/2017 12/28/2027 Common Stock 1,000 1,000 D
Stock Option (right to buy)(5) $38.51 12/27/2018 12/27/2028 Common Stock 1,000 1,000 D
Stock Option (right to buy)(5) $32.6 12/26/2019 12/26/2029 Common Stock 1,000 1,000 D
Stock Option (right to buy)(5) $17.95 12/30/2021 12/30/2031 Common Stock 750 750 D
Stock Option (right to buy)(5) $14.25 12/29/2022 12/29/2032 Common Stock 1,438 1,438 D
Stock Option (right to buy)(5) $14.69 12/28/2023 12/28/2033 Common Stock 1,455 1,455 D
Class B Common Stock (2) (3) (4) Common Stock 25 25 D
Class B Common Stock (2) (3) (4) Common Stock 131,506 131,506 I As Trustee(6)
Class B Common Stock (2) (3) (4) Common Stock 50,845 50,845 I By Trust(7)
Explanation of Responses:
1. Represents the exchange of Class B Common Stock to Gregory Marcus for Common Stock.
2. This security is convertible into common stock on a 1-for-1 basis at no cost and Class B Common Stock is entitled to 10 votes per share and Common Stock is entitled to one vote per share.
3. This security is immediately exercisable.
4. No expiration date.
5. Granted pursuant to The Marcus Corporation 2004 Equity and Incentive Awards Plan.
6. As trustee for brother's children.
7. By the Ben and Celia Marcus 1992 Revocable Trust F/B/O Diane M. Gershowitz.
/s/ Steven R. Barth, Attorney-in-Fact for Diane M. Gershowitz 09/18/2025
** 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 transactions did Diane M. Gershowitz report on Form 4 for MCS?

The Form 4 reports a 5,846-share conversion of Class B to Common Stock and a disposition of 8,000 Common Stock shares, dated 09/15/2025.

How many Common Stock shares does Diane M. Gershowitz directly own after the reported transactions?

Following the reported transactions, her direct beneficial ownership is stated as 34,045 Common Stock shares.

What indirect holdings are disclosed by the reporting person on this Form 4?

The filing discloses 175,617.223 Common Stock shares held indirectly by DG-LDJ Holdings, LLC, plus 131,506 and 50,845 shares held by a trustee and a trust respectively.

Are there stock options disclosed on the Form 4 and what are key terms?

Yes. Several stock options are listed with exercise prices ranging from $14.25 to $38.51 and expirations from 2025 through 2033; specific counts per option are provided in the filing.

Did the Form 4 indicate any cash consideration paid for the conversions?

The conversion entries are reported with a price of $0, consistent with the stated 1-for-1 conversion terms of Class B to Common Stock.
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