SCS insider filing: Pew converts 1.56M B shares; trust holds 2.22M

Rhea-AI Filing Summary

Robert C. Pew III, a director of Steelcase (NYSE: SCS), reported conversions of Class B common stock into Class A common stock on 08/08/2025. The filing records conversions of 1,562,136 Class B shares into 1,562,136 Class A shares and identifies 2,216,114 Class A shares held in a trust for Mr. Pew's benefit for which he serves as co-trustee. The report also discloses 500 shares held indirectly by his wife. The filing states the Class B shares are convertible on a 1-for-1 basis and were immediately converted, and shows zero derivative holdings remaining for the converted positions. This is a Section 16 disclosure of an insider ownership change by a director.

Positive

• Large insider ownership disclosed: Conversion shows 1,562,136 shares converted directly and 2,216,114 shares held in a trust for his benefit, indicating substantial insider stake.
• Conversion clarifies capital structure: Class B shares are stated to be convertible 1-for-1 and were immediately converted, removing the related derivative positions and improving transparency.

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine, administrative conversions clarified large insider holdings; limited immediate market impact but confirms insider alignment.

The Form 4 shows conversion activity rather than open-market trades, converting Class B shares to Class A on a stated 1-for-1, immediately convertible basis. The conversion removed the disclosed derivative positions associated with those Class B shares and resulted in explicit disclosure of substantial direct and indirect Class A holdings. For investors, this clarifies the composition of Mr. Pew's stake and reduces opacity around convertible instruments, without indicating new purchases or sales.

Corporate Governance Expert

TL;DR: Significant director ownership and trust holdings are disclosed; conversion is administrative but relevant to governance transparency.

The filing discloses that Mr. Pew holds material positions both directly and indirectly via a trust for which he is co-trustee. The immediate 1-for-1 conversion of Class B into Class A shares is documented and the report lists the trust-held shares separately, improving transparency about beneficial ownership. These facts are useful for assessing insider alignment with shareholders, though the filing itself conveys no operational or financial performance change.

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

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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^*

PEW ROBERT C III

(Last) (First) (Middle)

STEELCASE INC.

901 44TH ST SE

(Street)

GRAND RAPIDS MI 49508

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
STEELCASE INC [ NYSE: SCS ]

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)
08/08/2025

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	08/08/2025		C		1,562,136	A	(1)	1,865,172	D
Class A Common Stock	08/08/2025		C		2,216,114	A	(1)	2,216,114	I	By trust(2)
Class A Common Stock								500	I	By wife

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	(3)	08/08/2025		C			1,562,136	(4)	(1)	Class A Common Stock	1,562,136	(1)	0	D
Class A Common Stock	(3)	08/08/2025		C			2,216,114	(4)	(1)	Class A Common Stock	2,216,114	(1)	0	I	By trust(2)

Explanation of Responses:

1. Not applicable.

2. Represents shares held by a trust for the benefit of Mr. Pew for which Mr. Pew serves as co-trustee.

3. Shares of Class B Common Stock are convertible into shares of Class A Common Stock on a 1-for-1 basis.

4. Immediately convertible.

Remarks:

	Liesl A. Maloney, by power of attorney	08/08/2025
	** 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 did Robert C. Pew III report on Steelcase (SCS)?

The Form 4 reports conversions of Class B common stock into Class A common stock on 08/08/2025, with 1,562,136 shares converted and 2,216,114 Class A shares held in a trust for his benefit.

How many shares were converted and on what basis?

The filing states a conversion of Class B to Class A on a 1-for-1 basis, with 1,562,136 Class B shares converted and the conversions described as immediate.

Does the Form 4 show any remaining derivative holdings after the conversion?

For the converted positions the filing shows zero derivative securities beneficially owned following the reported transactions.

What is the trust disclosure in the filing?

The filing states that 2,216,114 shares are held by a trust for Mr. Pew's benefit and that Mr. Pew serves as co-trustee of that trust.

Were any purchases or sales reported in this Form 4?

No open-market purchases or sales are reported; the transactions are reported as conversions (transaction code C) of convertible shares into Class A shares.