[Form 4] SMITH & WESSON BRANDS, INC. Insider Trading Activity

Rhea-AI Filing Summary

Fred M. Diaz, a director of Smith & Wesson Brands, Inc. (SWBI), received 12,711 restricted stock units on 09/15/2025. The reported grant was recorded at a $0 per-share price and increases his beneficial ownership to 48,615 shares. The RSUs vest in monthly 1/12th installments on the 15th of each month following the grant date, with 100% of vested shares delivered on the one-year anniversary of the grant. The Form 4 was signed by an attorney-in-fact on 09/17/2025.

Positive

• Director alignment: Grant increases Fred M. Diaz's beneficial ownership to 48,615 shares, aligning interests with shareholders.
• Clear vesting schedule: RSUs vest in 1/12th monthly installments with full delivery one year after grant, providing predictable timing.

Negative

• None.

Insights

Financial Analyst

TL;DR: Director received a routine RSU grant of 12,711 units increasing holdings to 48,615, with standard monthly vesting and one-year delivery.

The transaction is a non-cash equity award recorded as 12,711 restricted stock units that vest monthly in equal installments and are delivered in full one year after grant. For investors, this is a standard equity-Compensation alignment tool rather than an immediate liquidity event. The grant raises the director's beneficial ownership to 48,615 shares, which may modestly increase insider alignment with shareholders but does not by itself provide information on company performance or material corporate change.

Corporate Governance Expert

TL;DR: Governance-wise, the award follows a typical RSU schedule with monthly vesting and delayed delivery, reflecting standard director compensation practice.

The filing documents a typical restricted stock unit award with a clear vesting cadence: 1/12th monthly vesting with full delivery at one year. The Form 4 shows timely reporting by an attorney-in-fact. The disclosure contains required details on amount and post-transaction ownership but does not include grant rationale, approval authority, or plan references, which limits assessment of governance context.

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).

1. Name and Address of Reporting Person^*

Diaz Fred M

(Last) (First) (Middle)

1852 PROFFITT SPRINGS ROAD

(Street)

MARYVILLE TN 37801

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SMITH & WESSON BRANDS, INC. [ SWBI ]

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)
09/15/2025

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		A(1)		12,711	A	$0	48,615	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. 1/12th of the restricted stock units shall vest on the 15th day of each month following the date of grant. 100% of the shares underlying the vested restricted stock units shall be delivered on the one year anniversary of the date of grant.

	/s/ Deana McPherson, as attorney-in-fact	09/17/2025
	** 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 SWBI director Fred M. Diaz receive on 09/15/2025?

He was granted 12,711 restricted stock units (RSUs) reported on the Form 4 filed for SWBI.

How many shares does Fred M. Diaz beneficially own after the transaction?

The filing reports 48,615 shares beneficially owned following the reported transaction.

What is the vesting schedule for the granted RSUs?

The RSUs vest 1/12th on the 15th of each month after the grant, with 100% of vested shares delivered on the one-year anniversary.

Was any cash paid for the RSUs in this transaction?

No cash was reported; the transaction price is listed as $0 per share for the RSU grant.

When was the Form 4 signed and filed?

The Form 4 shows a signature by an attorney-in-fact dated 09/17/2025.