Form 4: Designer Brands Inc. Executive Laura Denk Reports Acquisition of Dividend Equivalent Rights

Laura Denk, EVP and President of DSW Designer Shoe Warehouse, reports the acquisition of dividend equivalent rights related to previously awarded restricted stock units.

Summary

• Laura Denk, an executive at Designer Brands Inc., filed a Form 4 on April 16, 2024, reporting a transaction on April 12, 2024.
• The transaction involved the acquisition of 924 dividend equivalent rights, which are economically equivalent to shares of Designer Brands Inc.'s Class A common stock.
• These rights accrued on previously awarded restricted stock units (RSUs) and become exercisable proportionately with the RSUs to which they relate.
• Following the reported transaction, Denk beneficially owns 1,906 dividend equivalent rights directly.
• Additionally, a substitute power of attorney was executed on April 9, 2024, appointing Lisa Yerrace and Katherine Alfano as substitute attorneys-in-fact for Laura Denk.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, indicating a neutral sentiment.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The filing provides transparency to shareholders regarding executive compensation and ownership.

Key Dates