Form 4: Caleres CFO Sells Shares for Tax Obligations

Caleres Inc.'s SVP and Chief Financial Officer, Jack Calandra, disposed of 4,671 shares of common stock at $15.22 per share to satisfy tax withholding obligations.

Summary

• Jack Calandra, SVP, Chief Financial Officer of Caleres Inc. (CAL), reported a transaction on September 12, 2025.
• The transaction involved the disposition of 4,671 shares of Common Stock.
• The shares were disposed of at a price of $15.22 per share.
• The transaction code "F" indicates a disposition to the issuer to satisfy tax withholding obligations.
• Following this transaction, Jack Calandra directly beneficially owns 63,374 shares of Common Stock.
• Additionally, 143 shares are indirectly held through a 401(k) Plan.

Sentiment

Score: 5

Explanation: The transaction is a routine disposition for tax withholding purposes, which is a neutral event and does not reflect positive or negative sentiment regarding the company's performance or future prospects.

Positives

• The transaction is a routine disposition for tax withholding, not a discretionary sale, which typically indicates no negative sentiment from the insider regarding the company's future.

Negatives

• A reduction in direct beneficial ownership, though for tax purposes, still slightly decreases the insider's direct stake in the company.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This routine insider transaction for tax purposes does not provide specific insights into broader industry trends or competitive dynamics.

Comparison to Industry Standards

• NA

Stakeholder Impact

• Shareholders: The transaction is a routine tax-related disposition and is unlikely to have a significant impact on shareholder sentiment or the company's stock price.
• Management: The CFO's direct beneficial ownership slightly decreased due to tax obligations, but overall equity alignment remains.

Key Dates

Recommendation

This Form 4 filing details a routine disposition of shares by the CFO to cover tax withholding obligations, not a discretionary sale. Such transactions are common for executives receiving equity compensation and typically do not signal a change in management's confidence or the company's fundamentals. Therefore, it provides no new information that would warrant a change in investment recommendation, suggesting a 'hold' position based solely on this filing.

Keywords

Caleres Inc., CAL, Jack Calandra, Form 4, Insider Transaction, Stock Disposition, CFO, Tax Withholding, Common Stock