Form 4: Dillard's SVP Acquires Shares Under 10b5-1 Plan

Dillard's Senior Vice President Denise Dillard Mahaffy acquired 11 shares of Common Class A stock at $632.11 per share under a pre-arranged 10b5-1 plan.

Summary

• Denise Dillard Mahaffy, a Director and Senior Vice President of Dillard's, Inc. (DDS), reported a transaction involving the company's Common Class A stock.
• The transaction, dated December 29, 2025, involved the acquisition of 11 shares.
• The shares were acquired at a price of $632.11 per share.
• This acquisition was made pursuant to a Rule 10b5-1(c) contract, instruction, or written plan.
• Following this transaction, Denise Dillard Mahaffy directly beneficially owns 163,525 shares of Common Class A stock.
• Additionally, 7,300 shares are indirectly beneficially owned through a Trustee of GST Trust.

Sentiment

Score: 6

Explanation: The acquisition by a Senior Vice President, even if small and pre-planned, generally indicates a degree of confidence in the company's future prospects.

Positives

• The acquisition of shares by a Senior Vice President and Director signals management's confidence in the company's future performance.
• The transaction being executed under a Rule 10b5-1(c) plan indicates a pre-planned, systematic approach to insider ownership.

Future Outlook

NA

Industry Context

Dillard's, Inc. operates within the highly competitive retail sector. Insider buying, even in small amounts, can be interpreted as a signal of management's belief in the company's resilience and growth prospects within this challenging environment.

Related Party Transactions

• 7,300 shares of Common Class A stock are indirectly beneficially owned through a Trustee of GST Trust, indicating a related party holding.

Stakeholder Impact

• Shareholders may view this insider purchase as a positive signal of management confidence in the company's valuation and future performance.

Key Dates

Recommendation

This Form 4 reports a routine, pre-scheduled insider purchase of a small number of shares. While insider buying can be a positive signal, the size and nature of this transaction are not significant enough to materially alter an investment thesis or recommendation.

Keywords

Dillard's, DDS, Insider Trading, Form 4, Stock Acquisition, Denise Dillard Mahaffy, 10b5-1 Plan, Retail Sector, Insider Buy