Form 4: Haverty CFO's Equity Holdings Update

Haverty Furniture's EVP and CFO, Richard B. Hare, reported updated beneficial ownership of common stock, including recent grants of Restricted Stock Units and Performance Restricted Stock Units.

Summary

• Richard B. Hare, Executive Vice President and Chief Financial Officer of Haverty Furniture Companies Inc. (HVT), reported changes in his beneficial ownership.
• Mr. Hare directly owns 23,497 shares of Common Stock and 10,000 shares of Class A Common Stock.
• He was granted 5,970 Restricted Stock Units (RSUs) on January 22, 2026, which will vest ratably over 3 years beginning May 8, 2027.
• Previous RSU grants include 5,693 units on January 23, 2025 (vesting from May 8, 2026), 2,376 units on January 25, 2024 (vesting from May 8, 2025), and 1,195 units on January 26, 2023 (vesting from May 8, 2024).
• Performance Restricted Stock Units (PRSUs) were also reported: 5,669 units granted January 26, 2023, earned based on 2023 EBITDA, vesting February 28, 2026.
• An additional 752 PRSUs were granted January 26, 2023, earned based on 2023 consolidated sales, vesting February 28, 2026.
• A grant of 3,494 PRSUs on January 25, 2024, earned based on 2024 EBITDA, will vest on February 28, 2027.

Sentiment

Score: 6

Explanation: The filing reports routine equity grants as part of executive compensation, which is generally a neutral to slightly positive event as it aligns management incentives with shareholder interests. It does not contain information that would significantly alter the company's financial outlook or operational performance.

Positives

• The grants of Restricted Stock Units (RSUs) and Performance Restricted Stock Units (PRSUs) align the interests of the EVP, CFO with shareholders, as the value of these awards is tied to the company's stock performance and financial metrics.
• Performance-based awards (PRSUs) incentivize management to achieve specific financial targets such as EBITDA and consolidated sales.

Future Outlook

The filing details future vesting schedules for various equity awards, indicating a long-term incentive structure for the EVP, CFO, tied to future company performance and continued service.

Industry Context

This Form 4 filing is a routine disclosure of insider equity transactions, specifically executive compensation in the form of equity grants. It reflects standard corporate governance practices for aligning management incentives with shareholder value in the retail furniture industry.

Stakeholder Impact

• Shareholders: The equity grants align the interests of the EVP, CFO with shareholders, as the value of these awards is tied to the company's stock performance and achievement of financial targets (EBITDA, consolidated sales).
• Employees: No direct impact on general employees is indicated by this filing, which focuses on executive compensation.

Next Steps

• Vesting of RSUs granted on January 26, 2023, will commence ratably from May 8, 2024.
• Vesting of RSUs granted on January 25, 2024, will commence ratably from May 8, 2025.
• Vesting of PRSUs granted on January 26, 2023 (EBITDA and consolidated sales based), will occur on February 28, 2026.
• Vesting of RSUs granted on January 23, 2025, will commence ratably from May 8, 2026.
• Vesting of RSUs granted on January 22, 2026, will commence ratably from May 8, 2027.
• Vesting of PRSUs granted on January 25, 2024 (EBITDA-based), will occur on February 28, 2027.

Key Dates

Keywords

HVT, Haverty Furniture, Form 4, Insider Transaction, Executive Compensation, Restricted Stock Units, Performance Restricted Stock Units, Equity Awards, EBITDA, Consolidated Sales