[Form 4] Ralph Lauren Corporation Insider Trading Activity

Rhea-AI Filing Summary

Form 4 filing overview – Joby Aviation, Inc. (JOBY)

General Counsel & Corporate Secretary Kate DeHoff reported one RSU settlement and two share sales between 12-15 July 2025.

• RSU settlement (Code M): 16,065 common shares issued at $0 on 07/12/2025, increasing direct holdings to 231,361 shares.
• Tax-related sale (Code S): 8,262 shares sold on 07/14/2025 at $11.97, an estimated $99k used to cover withholding taxes.
• 10b5-1 plan sale (Code S): 20,823 shares sold on 07/15/2025 at a weighted-average $13.67 (range $13.24-$13.96), for roughly $285k in proceeds.
• Post-transactions, the insider retains 202,276 common shares directly and 96,389 unvested RSUs.

The filing signals routine equity settlement and programmed selling rather than an abrupt discretionary liquidation. No company-level financial metrics or forward-looking statements are included.

Positive

• Use of an approved 10b5-1 trading plan demonstrates compliance and pre-commitment to mitigate insider-trading concerns.
• Insider retains 202,276 shares and 96,389 RSUs, maintaining significant equity alignment with shareholders.

Negative

• Net sale of 29,085 shares over two days could be viewed as a modest bearish signal by some market participants.

Insights

Securities Analyst

TL;DR: Routine RSU vesting; modest insider sale under 10b5-1, neutral signal.

The transactions combine a scheduled RSU conversion with limited share sales. Roughly 12% of newly vested shares were sold for taxes, the rest via a pre-arranged plan, limiting information-content about management sentiment. Remaining ownership of 202k shares plus sizeable unvested RSUs aligns incentives with shareholders. Given the small dollar value versus typical trading volume, I view the impact on JOBY’s valuation and liquidity as immaterial.

Corporate Governance Expert

TL;DR: Governance safeguards present; no red flags but slight perception risk from insider selling.

Use of a 10b5-1 plan and transparent tax-cover sale supports good governance practice, reducing potential accusations of opportunistic trading. Nevertheless, any insider sale may be interpreted cautiously by some investors. The magnitude—under $0.4 million—does not indicate strategic divestiture. Overall governance impact is negligible; monitoring future filings for pattern changes is prudent.

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^*

Findley Linda

(Last) (First) (Middle)

RALPH LAUREN CORPORATION

650 MADISON AVENUE

(Street)

NEW YORK NY 10022

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
RALPH LAUREN CORP [ RL ]

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)
07/11/2025

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	07/11/2025		A		3.16(1)	A	$0(1)	9,976.84	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 restricted stock units of the Issuer's Class A Common Stock payable as a result of the payment of a cash dividend on the Issuer's Class A Common Stock. The restricted stock units are payable solely in shares of the Issuer's Class A Common Stock issued to the Reporting Person in respect of restricted stock units previously granted under the Issuer's 2019 Long-Term Stock Incentive Plan.

	/s/ Avery S. Fischer, Attorney-in-Fact for Linda Findley	07/15/2025
	** 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 Joby Aviation shares did insider Kate DeHoff sell in July 2025?

She sold 29,085 shares (8,262 on 07/14 and 20,823 on 07/15).

What was the average sale price for the shares sold on 07/15/2025?

The weighted-average price was $13.67, with individual trades between $13.24 and $13.96.

Why were 8,262 JOBY shares sold on 07/14/2025?

The shares were sold to cover withholding taxes due upon RSU settlement, as permitted by the award terms.

Does the insider still hold Joby Aviation stock after these transactions?

Yes, she now directly owns 202,276 common shares and 96,389 unvested RSUs.

Was the 20,823-share sale discretionary?

No. It was executed under a pre-established 10b5-1 trading plan adopted on 06/06/2024.