Form 4: Duluth Holdings Director Scott K. Williams Awarded Over 42,000 Restricted Class B Common Shares
Insider Transaction Report
Duluth Holdings Inc. Director Scott K. Williams has been granted 42,554 shares of Class B Common Stock as restricted stock, vesting by May 2026 or the 2026 annual meeting.
Summary
- Scott K. Williams, a Director of Duluth Holdings Inc. (DLTH), acquired 42,554 shares of Class B Common Stock on May 29, 2025.
- The acquisition was an award of restricted stock granted under the company's 2024 Equity Incentive Plan.
- Following this transaction, Mr. Williams beneficially owns a total of 114,486 shares of Class B Common Stock directly.
- The restricted shares are set to vest in full on the earlier of May 29, 2026, or the date of the Duluth Holdings Inc. 2026 annual meeting of shareholders.
Sentiment
Score: 6
Explanation: The sentiment is slightly positive as it represents a routine compensation grant that aligns the director's interests with shareholders, without any negative implications or unexpected events.
Positives
- The restricted stock grant aligns the director's interests with those of the shareholders, as the value of the award is tied to the company's stock performance.
- The grant is part of the company's 2024 Equity Incentive Plan, indicating a structured approach to executive and director compensation.
Future Outlook
The restricted stock award is scheduled to vest on the earlier of May 29, 2026, or the date of the Duluth Holdings Inc. 2026 annual meeting of shareholders, indicating a future milestone for the compensation.
Industry Context
This Form 4 filing reflects a routine insider transaction related to executive compensation, a common practice across publicly traded companies to incentivize and retain key personnel by aligning their financial interests with long-term shareholder value.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Equity Incentive Plan Utilization | The restricted stock award was granted under the 2024 Equity Incentive Plan of Duluth Holdings Inc., demonstrating the ongoing use of the plan for director compensation. | 05/29/2025 | Reinforces the company's established compensation framework designed to align director incentives with long-term company performance and shareholder value. |
Related Party Transactions
- The transaction involves a grant of restricted stock to Scott K. Williams, a Director of Duluth Holdings Inc., which is a related party transaction as it is compensation provided to a member of the company's board.
Stakeholder Impact
- Shareholders: The grant of restricted stock to a director can be viewed positively as it aligns the director's financial interests with the long-term performance of the company, potentially encouraging decisions that enhance shareholder value.
Next Steps
- Vesting of the 42,554 restricted shares on the earlier of May 29, 2026, or the date of the Duluth Holdings Inc. 2026 annual meeting of shareholders.
Key Dates
| Date | Description |
|---|---|
| 05/29/2025 | Date of transaction: Acquisition of 42,554 shares of Class B Common Stock by Scott K. Williams. |
| 05/29/2026 | Earliest vesting date for the restricted stock award. |
| 06/02/2025 | Date the Form 4 was signed by Dennis F. Connolly, as POA for Scott K. Williams. |
Keywords
Duluth Holdings Inc., DLTH, Scott K. Williams, Restricted Stock, Equity Incentive Plan, Insider Transaction, Form 4, Class B Common Stock, Director Compensation
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