Weyco Group (WEYS) details 94,619-share trust restructuring by president
Rhea-AI Filing Summary
Weyco Group Inc. president and COO John W. Florsheim reported an internal restructuring of share ownership rather than a market trade. An indirect holding of 94,619 shares of Common Stock previously held in a 2018 irrevocable trust was reduced to zero after the trust was closed and the shares were transferred to his father Thomas W. Florsheim’s revocable trust at a stated price of $0.00 per share.
Following this change, John Florsheim continues to report substantial holdings in Weyco Group through a mix of direct and indirect interests, including 428,345 directly held common shares, several indirect family-related positions, and multiple vested stock options with exercise prices between $18.00 and $37.22 expiring between 2028 and 2033. The filing characterizes the trust transfer as an “other acquisition or disposition,” which is typically administrative rather than a market-driven transaction.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 94,619 shares
Net Sell
10 txns
Insider
FLORSHEIM JOHN W
Role
PRESIDENT AND COO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Common Stock | 94,619 | $0.00 | $0.00 |
| holding | Stock Option | -- | -- | -- |
| holding | Stock Option | -- | -- | -- |
| holding | Stock Option | -- | -- | -- |
| holding | Stock Option | -- | -- | -- |
| holding | Stock Option | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 0 shares (Indirect, Held in 2018 Irrevocable Trust);
Stock Option — 42,000 shares (Direct);
Common Stock — 428,345 shares (Direct);
Common Stock — 314,484 shares (Indirect, As Trustee for Children);
Common Stock — 74,476 shares (Indirect, By Wife);
Common Stock — 221,873 shares (Indirect, John Florsheim Family Trust of which Brother is Trustee)
Footnotes (7)
- F1. Shares transferred from the closed trust to Thomas W. Florsheim's (Father) revocable trust in accordance with the terms of the related trust.
- F2. For informational purposes only
- F3. 20% per year for 5 years beginning 08/23/2019
- F4. 20% per year for 5 years beginning 08/26/2021
- F5. 20% per year for 5 years beginning 08/25/2022
- F6. 20% per year for 5 years beginning 08/25/2023
- F7. 20% per year for 5 years beginning 08/25/2024
Key Figures
Trust restructuring shares: 94,619 shares
Direct common shares: 428,345 shares
Family trust common shares: 221,873 shares
+5 more
8 metrics
Trust restructuring shares
94,619 shares
Other acquisition or disposition; 2018 irrevocable trust to revocable trust
Direct common shares
428,345 shares
Directly held by John W. Florsheim after transactions
Family trust common shares
221,873 shares
John Florsheim Family Trust; brother as trustee
Wife-held common shares
74,476 shares
Indirect ownership by wife
Children’s trust common shares
314,484 shares
Held as trustee for children
Stock option @ $18.00
10,000 options
Exercise price $18.00; expiration 2030-08-26
Stock option @ $24.00
10,000 options
Exercise price $24.00; expiration 2031-08-25
Stock option @ $37.22
8,000 options
Exercise price $37.22; expiration 2028-08-23
Key Terms
Other acquisition or disposition, Stock Option, Irrevocable Trust, revocable trust, +1 more
5 terms
Other acquisition or disposition financial
"transaction code description is “Other acquisition or disposition” for the 94,619 shares"
Stock Option financial
"Several entries list “Stock Option” with underlying Common Stock and exercise prices"
A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.
Irrevocable Trust financial
"nature_of_ownership notes “Held in 2018 Irrevocable Trust” before the restructuring"
An irrevocable trust is a legal arrangement where an owner transfers assets into a separate entity managed by a trustee and gives up the power to modify or reclaim those assets. For investors it matters because putting stock or other holdings into such a trust can change who controls and benefits from the assets, affect taxes and creditor protection, and influence how easy it is to sell or value those holdings—like placing valuables in a locked safe overseen by someone else.
revocable trust financial
"footnote states transfer to Thomas W. Florsheim's revocable trust"
A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider activity did WEYCO GROUP INC (WEYS) report in this Form 4?
The Form 4 shows John W. Florsheim recorded an internal trust restructuring involving 94,619 common shares at $0.00 per share, with no open-market buying or selling, plus updated disclosure of his direct, family, and option holdings.
What indirect WEYS holdings does John Florsheim report for his family?
Indirectly, John W. Florsheim reports 221,873 common shares in a family trust where his brother is trustee, 74,476 shares held by his wife, and 314,484 shares held as trustee for his children, reflecting substantial family-related ownership positions in WEYCO GROUP INC.