Wolverine World Wide CEO Executes Options, Retains 231,558 Shares

Rhea-AI Filing Summary

Wolverine World Wide, Inc. (WWW) reporting person Christopher Hufnagel, President and CEO, executed option exercises and share transactions on 08/28/2025. He exercised stock options with a $16.51 exercise price to acquire 32,294 shares and immediately reported a sale of 32,294 shares at a weighted-average price of $31.91, leaving him with 231,558 shares beneficially owned after the transactions. The exercised option had staggered vesting dates beginning in 2017 and expires 02/09/2026. The filer notes the sale prices ranged from $31.72 to $32.17 and offers to provide per-price breakdowns on request.

Positive

• Transparency of pricing: Filing discloses weighted-average sale price and offers per-trade breakdown on request
• Substantial retained ownership: Reporting person still beneficially owns 231,558 shares after the transactions

Negative

• Immediate sale of all exercised shares indicates no incremental share retention from this exercise
• Limited execution detail: Only weighted-average sale price is provided, lacking per-trade quantities without a request

Insights

Securities Analyst

TL;DR CEO exercised vested options and sold the same number of shares, reducing direct holdings while retaining significant ownership.

The report documents a routine insider exercise-and-sale transaction by the CEO executed on 08/28/2025. Exercising options at a $16.51 strike and selling at a weighted-average $31.91 produced a realized spread that is explicit in the filing. The remaining beneficial ownership of 231,558 shares indicates continued significant alignment with shareholders despite the sale. The filing discloses weighted-average sale pricing only and commits to provide a per-trade breakdown if requested, which limits immediate granularity on execution timing within the day.

Corporate Governance Expert

TL;DR Transaction is a standard, permissible Section 16 disclosure showing option exercise and contemporaneous sale by an officer.

The Form 4 shows the reporting person is both an officer and a director, and the disclosure follows Section 16 reporting conventions. The option exercised was partially vested across prior years with an expiration in February 2026, confirming lawful exercise. The contemporaneous sale of all acquired shares suggests this was not a retention transaction; however, the report does not indicate a 10b5-1 plan box checked, so sale timing context is limited to the filing. Material corporate governance implications appear minimal given continued large share ownership.

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^*

Hufnagel Christopher

(Last) (First) (Middle)

C/O 9341 COURTLAND DRIVE NE

(Street)

ROCKFORD MI 49351

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
WOLVERINE WORLD WIDE INC /DE/ [ WWW ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
08/28/2025

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	08/28/2025		M		32,294	A	$16.51	263,852	D
Common Stock	08/28/2025		S		32,294	D	$31.91(1)	231,558	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 Options (Right to Buy)	$16.51	08/28/2025		M			32,294	02/10/2017(2)	02/09/2026	Common Stock	32,294	$0	0	D

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $31.72 to $32.17. The reporting person undertakes to provide to Wolverine World Wide, Inc., any security holder of Wolverine World Wide, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range.

2. This option became exercisable as to 10,765 shares on February 10, 2017, as to 10,764 shares on February 10, 2018, and as to 10,765 shares on February 10, 2019.

Remarks:

	/s/ David Latchana by Power of Attorney	09/02/2025
	** 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 Christopher Hufnagel report for WWW on 08/28/2025?

He exercised options to acquire 32,294 shares at a $16.51 exercise price and sold 32,294 shares at a weighted-average price of $31.91 on 08/28/2025.

How many WWW shares does the reporting person own after the reported transactions?

The filing states the reporting person beneficially owns 231,558 shares following the transactions.

What was the range of sale prices for the WWW shares sold on 08/28/2025?

The filing reports sale prices ranged from $31.72 to $32.17, with a weighted-average of $31.91.

Were the exercised options for WWW fully vested and when do they expire?

The exercised options vested in installments in 2017, 2018, and 2019 and the option grant expires on 02/09/2026.

Does the Form 4 indicate the sale was under a 10b5-1 plan?

The filing does not indicate that the transaction was executed pursuant to a 10b5-1 plan; no box is checked to that effect.