Form 4: Dillard's EVP Mike Dillard Acquires Shares

Dillard's Executive Vice President Mike Dillard reported the acquisition of 13 shares of Common Class A stock at $632.11 per share.

Summary

• Mike Dillard, Executive Vice President and Director of Dillard's, Inc. (DDS), acquired 13 shares of Common Class A stock.
• The transaction occurred on December 29, 2025, at a price of $632.11 per share.
• The acquisition was made pursuant to a Rule 10b5-1 pre-arranged trading plan.
• Following this transaction, Mike Dillard directly beneficially owns 537,011 shares of Common Class A stock.
• He also indirectly beneficially owns 41,496 shares through W.D. Company, Inc., where he holds a 26.3% ownership and serves as a director and officer.
• W.D. Company, Inc. additionally holds 3,985,776 shares of Class B Common Stock, convertible to Class A on a one-for-one basis.
• An additional 7,300 shares are indirectly beneficially owned as a Trustee of GST Trust.
• The reporting person disclaims beneficial ownership of indirectly held shares except to the extent of his pecuniary interest.

Sentiment

Score: 7

Explanation: The acquisition of shares by an executive, even a small amount, generally indicates confidence in the company's future. The transaction being part of a 10b5-1 plan suggests a systematic investment approach.

Positives

• An insider, Mike Dillard, acquired shares, which can signal management's confidence in the company's future prospects.
• The transaction was executed under a Rule 10b5-1 plan, indicating a pre-planned and systematic approach to share acquisition.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Management Comments

• "The reporting person disclaims beneficial ownership of the shares reported herein as indirectly beneficially owned, except to the extent of his pecuniary interest therein."

Industry Context

This insider transaction is specific to Dillard's, Inc. and does not provide broader industry context or trends. It reflects an individual executive's investment decision rather than a company-wide strategic move.

Stakeholder Impact

• Shareholders may view the insider purchase as a positive signal of management's belief in the company's value, potentially boosting investor confidence.

Key Dates

Keywords

Dillard's, DDS, Insider Trading, Form 4, Stock Acquisition, Executive Vice President, Common Stock, 10b5-1 Plan