Form 4: LA-Z-BOY CEO Melinda Whittington Reports Planned Share Dispositions for Tax Obligations

LA-Z-BOY Inc.'s President and CEO, Melinda D. Whittington, reported the planned disposition of 10,312 common shares in two transactions in late June 2025, primarily to cover tax withholding obligations.

Summary

• Melinda D. Whittington, President & CEO and Director of LA-Z-BOY INC. (LZB), reported changes in her beneficial ownership of common shares.
• On June 26, 2025, 6,739 common shares were disposed of at a price of $37.54 per share.
• On June 28, 2025, an additional 3,573 common shares were disposed of at a price of $37.96 per share.
• Both dispositions were marked with transaction code 'F', indicating shares withheld by the issuer to satisfy tax withholding obligations.
• Following the transactions, Melinda D. Whittington beneficially owns 316,038 common shares.
• The transactions were made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Sentiment

Score: 5

Explanation: The sentiment is neutral as the reported transactions are routine, non-discretionary dispositions of shares for tax withholding purposes, which do not reflect a change in management's outlook or a strategic shift.

Future Outlook

NA

Industry Context

This filing details a routine insider transaction for tax purposes, which is common across all industries when executives receive equity compensation. It does not provide broader industry context.

Stakeholder Impact

• Shareholders: Minimal direct impact as these are routine, non-discretionary transactions for tax purposes and do not signal a change in management's confidence or company fundamentals.
• Employees: No direct impact.

Key Dates

Keywords

LA-Z-BOY, LZB, Melinda Whittington, SEC Form 4, Insider Transaction, Share Disposition, Tax Withholding, Rule 10b5-1(c), Corporate Governance