Form 4: Duluth Holdings SVP Gifts Shares, Boosts Family Holdings

Duluth Holdings SVP Richard W. Schlecht reported gifting Class B Common Stock, increasing his direct and indirect beneficial ownership.

Summary

• Richard W. Schlecht, SVP, Product Dev. & Sourcing and Director at Duluth Holdings Inc. (DLTH), reported changes in his beneficial ownership of Class B Common Stock.
• On December 22, 2025, Schlecht acquired 17,000 shares directly through a gift transaction.
• Additionally, 34,000 shares were acquired indirectly by his children in UTMA accounts on the same date, also via a gift.
• These transactions were made pursuant to a Rule 10b5-1 plan, indicating they were pre-planned.
• Following these transactions, Schlecht directly beneficially owns 323,679 shares and indirectly owns 88,660 shares through his children.

Sentiment

Score: 7

Explanation: The SVP and Director, Richard W. Schlecht, increased his direct and indirect beneficial ownership of Class B Common Stock through gift transactions, which can be interpreted as a positive sign of confidence in the company's long-term prospects. The transactions were pre-planned under a Rule 10b5-1 plan.

Positives

• The insider, Richard W. Schlecht, increased his beneficial ownership, which can be seen as a sign of confidence in the company's long-term prospects.
• The transactions were gifts, indicating a transfer of wealth rather than a sale for personal liquidity.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Gift of 34,000 Class B Common Stock shares to reporting person's children, held in UTMA accounts.

Stakeholder Impact

• Shareholders: Increased insider ownership may signal confidence, potentially positively influencing investor perception.

Key Dates

Recommendation

The filing reports an insider's gift of shares, increasing their beneficial ownership. While this indicates management confidence, it does not provide new financial or operational data to significantly alter the investment thesis. Therefore, a 'hold' recommendation is appropriate, maintaining current positions based on existing fundamentals.

Keywords

Duluth Holdings Inc., DLTH, Insider Trading, Form 4, Stock Ownership, Gift Transaction, Richard W. Schlecht, Class B Common Stock, Rule 10b5-1