Form 4: Dillard's VP Lucie Acquires Stock Under 10b5-1 Plan

Dillard's Vice President Denise Alexandra Lucie acquired 8 shares of Common Class A stock at $623.52 per share on October 27, 2025, under a pre-arranged trading plan.

Summary

• Denise Alexandra Lucie, Vice President of Dillard's, Inc. (DDS), acquired 8 shares of Common Class A stock.
• The transaction occurred on October 27, 2025, at a price of $623.52 per share.
• This acquisition was made pursuant to a Rule 10b5-1(c) contract, instruction, or written plan.
• Following the transaction, Ms. Lucie directly beneficially owns 37,030 shares of Common Class A stock and 5,068 shares in a Common Class A Retirement Plan.
• Indirect beneficial ownership includes 38,423 shares held in Trust accounts where Ms. Lucie is the Trustee, and 13,389 shares held in children's Trust accounts where she is the Grantor.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive due to an insider acquisition, which generally signals management confidence. However, the small number of shares acquired limits the overall positive impact.

Positives

• An insider (Vice President) acquiring company stock can signal confidence in the company's future prospects.
• The transaction was conducted under a Rule 10b5-1 plan, indicating a pre-arranged trading strategy rather than opportunistic timing.

Future Outlook

The filing does not provide specific forward-looking statements or guidance beyond the details of the insider transaction.

Industry Context

Insider buying, even in small amounts, is generally viewed by the market as a positive signal of management's belief in the company's value and future performance, potentially indicating a favorable outlook for the retail sector or Dillard's specific market position.

Comparison to Industry Standards

• While the acquisition of 8 shares is a relatively small transaction, insider buying is a common practice across industries. For example, similar small-scale insider purchases by executives in other retail companies like Macy's or Nordstrom would be interpreted similarly as a minor vote of confidence.

Corporate Governance

Related Party Transactions

• Indirect beneficial ownership includes 38,423 shares held in Trust accounts where Denise Alexandra Lucie acts as Trustee.
• Indirect beneficial ownership includes 13,389 shares held in children's Trust accounts where Denise Alexandra Lucie is the Grantor.

Stakeholder Impact

• Shareholders may interpret the insider purchase as a minor positive signal of management's confidence in the company's stock value and future performance.

Key Dates

Recommendation

A Vice President acquired a small number of shares, which is a minor positive signal of confidence in the company's future. However, the transaction size (8 shares) is too small to significantly alter the investment thesis or warrant a strong buy/sell recommendation. The stock should be held based on broader fundamental analysis rather than this specific insider transaction.

Keywords

Dillard's, DDS, Insider Trading, Stock Acquisition, Form 4, Beneficial Ownership, Executive Stock, 10b5-1 Plan