Form 4: Dollar Tree Director Cheryl Grise Increases Beneficial Ownership Through Phantom Stock Acquisition

Dollar Tree, Inc. Director Cheryl W. Grise acquired additional phantom stock, representing a future right to common shares, through compensation deferrals.

Summary

• Cheryl W. Grise, a Director at Dollar Tree, Inc. (DLTR), acquired 1,933.5 shares of phantom stock on July 1, 2025.
• The phantom stock was acquired through two separate transactions: 455.67 shares from the deferral of director fees and 1,477.83 shares from the deferral of the annual director equity award.
• Each share of phantom stock represents the right to receive one share of Dollar Tree common stock, with cash for any fractional shares.
• The phantom stock is valued at $101.5 per share at the time of acquisition.
• These shares are payable in common stock following the earlier of Ms. Grise's separation from the Board or a specified distribution date, as per her deferral election under the Non-Employee Director Deferred Compensation Program.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive as it indicates a director's continued alignment with shareholder interests through equity-based compensation deferral, which is a routine and generally favorable event.

Positives

• The acquisition of phantom stock by a director aligns their interests more closely with those of common shareholders, as the value of their compensation is tied to the company's stock performance.
• Participation in a deferred compensation program indicates a long-term commitment and confidence in the company's future by the director.

Future Outlook

The acquired phantom stock will be converted into Dollar Tree common stock upon the earlier of the director's separation from the Board or a specified distribution date elected by the director.

Industry Context

This transaction is a routine insider filing, common across publicly traded companies, reflecting how non-employee directors often receive and defer compensation in the form of equity-linked instruments to align their interests with shareholders.

Stakeholder Impact

• Shareholders: The transaction increases the beneficial ownership of a director, which can be viewed positively as it aligns management's interests with shareholder value.
• Director (Cheryl W. Grise): The transaction represents a component of her compensation, deferred into equity, impacting her personal investment in the company.

Next Steps

• The phantom stock will be converted into common stock upon the director's separation from the Board or a specified distribution date.

Key Dates

Keywords

Dollar Tree, DLTR, SEC Form 4, Insider Transaction, Phantom Stock, Director Compensation, Beneficial Ownership, Equity Award Deferral