[Form 4] Rocky Brands, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Insider transactions by Tracie A. Winbigler at Rocky Brands, Inc. (RCKY) show a sale of 5,000 common shares on 09/02/2025 at a weighted average price of $29.95, reducing her direct holdings to 6,978 shares. The following day, 09/03/2025, she reported the acquisition of 5,000 shares at $28.07 via exercise/transaction code "M", increasing her direct beneficial ownership to 11,978 shares. The filing also reports a related stock option for 5,000 shares with an exercise price of $28.07 that vests as described in the filing and becomes exercisable on 01/04/2026. The filing is signed by an attorney-in-fact on 09/05/2025.

Positive

• Net increase in direct beneficial ownership: reporting person ends with 11,978 shares after transactions
• Transparent disclosure: filing includes prices, transaction codes, vesting information and an explanation of weighted sale prices

Negative

• Sale of 5,000 shares: reported sale at a weighted average price of $29.95 on 09/02/2025
• Timing proximity: sale and acquisition occurred one day apart, which may prompt investor questions though no violation is indicated in the filing

Insights

Securities Analyst

TL;DR: Routine insider sale and option exercise produced a net increase of 5,000 shares of direct ownership.

The Form 4 discloses a sale of 5,000 shares at an average price of $29.95 and an acquisition that same week of 5,000 shares at $28.07, leaving the reporting person with 11,978 shares beneficially owned. Transaction codes indicate a standard sale and a reported acquisition tied to options or plan activity. This pattern is consistent with option exercise and subsequent reporting mechanics rather than a clear directional signal about company fundamentals. The amounts are modest relative to large-cap benchmarks but are material to ownership for an individual director.

Corporate Governance Expert

TL;DR: Disclosure complies with Section 16 reporting; transactions reflect option-related activity and routine insider reporting.

The filing includes the required details: dates, transaction codes, prices, and post-transaction holdings. The explanation clarifies weighted sale prices and vesting schedule for the options. Documentation appears complete for the reported transactions and shows timely signature by an attorney-in-fact. No governance red flags, such as unexplained transfers or related-party irregularities, are evident within the reported items.

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^*

Winbigler Tracie A.

(Last) (First) (Middle)

39 EAST CANAL STREET

(Street)

NELSONVILLE OH 45764

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ROCKY BRANDS, INC. [ RCKY ]

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)
09/02/2025

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, without par value	09/02/2025		S		5,000	D	$29.95(1)	6,978	D
Common Stock, without par value	09/03/2025		M		5,000	A	$28.07	11,978	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
Stock Option (right to buy)	$28.07	09/03/2025		M			5,000	(2)	01/04/2026	Common Stock, without par value	5,000	$0.0000	0.0000	D

Explanation of Responses:

1. Price represents a weighted average of the sale price. Shares were sold at prices ranging from $29.91 to $30.12. Upon the request by the SEC staff, the Issuer, or a security holder of the Issuer, the reporting person will provide the full information about the number of shares sold at each separate price.

2. Options vested 25% on each of March 31, 2021, June 30, 2021, September 30, 2021 and December 31, 2021.

	Jeremy D. Siegfried, Attorney-in-Fact	09/05/2025
	** 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 Tracie A. Winbigler report for RCKY?

The Form 4 reports a sale of 5,000 shares on 09/02/2025 at a weighted average price of $29.95 and an acquisition of 5,000 shares on 09/03/2025 at $28.07.

How many RCKY shares does the reporting person own after these transactions?

After the transactions the reporting person beneficially owns 11,978 shares directly.

Was an option exercise involved in the RCKY transactions?

Yes. The filing discloses a stock option with an exercise price of $28.07 covering 5,000 underlying shares, exercisable on 01/04/2026 with vesting described in the filing.

What prices were the RCKY shares sold and acquired at?

Shares were sold at a weighted average price of $29.95 (range $29.91–$30.12) and acquired at $28.07.

Who signed the Form 4 for Tracie A. Winbigler?

The Form 4 was signed by Jeremy D. Siegfried, Attorney-in-Fact on 09/05/2025.