Form 4: LA-Z-BOY Executive Sells Shares for Tax Obligations

LA-Z-BOY's Senior VP & Chief Supply Chain Officer, Michael Adam Leggett, disposed of 425 common shares on January 15, 2026, at $39.29 per share to cover tax liabilities.

Summary

• Michael Adam Leggett, Sr VP & Chief Supply Chain Officer and Director of LA-Z-BOY INC, reported a transaction involving company common shares.
• The transaction, dated January 15, 2026, involved the disposition of 425 common shares.
• The shares were disposed of at a price of $39.29 per share.
• This disposition was made to satisfy tax withholding obligations, indicated by Transaction Code 'F'.
• Following this transaction, Mr. Leggett directly beneficially owns 44,673 common shares.
• The transaction was executed pursuant to a Rule 10b5-1 plan, indicating it was a pre-arranged sale.

Sentiment

Score: 5

Explanation: This filing reports a routine, pre-planned disposition of shares by an executive to cover tax obligations, which is a standard practice and does not indicate a significant positive or negative shift in the company's operational or financial outlook.

Positives

• The transaction was pre-planned under a Rule 10b5-1 plan, demonstrating structured equity management by the executive.
• The executive retains a significant beneficial ownership of 44,673 common shares after the transaction, indicating continued alignment with shareholder interests.

Negatives

• The disposition of shares, even for tax purposes, results in a reduction of the executive's direct equity holdings in the company.

Future Outlook

na

Industry Context

This routine insider transaction for tax purposes is common across publicly traded companies, particularly for executives receiving equity compensation. It does not inherently reflect specific industry trends in the furniture or retail sector, but rather standard executive compensation and tax management practices.

Stakeholder Impact

• Shareholders: Minimal impact due to a small reduction in executive ownership, offset by the routine nature of the transaction for tax purposes. The executive's substantial remaining holdings suggest continued alignment of interests.

Key Dates

Recommendation

This Form 4 reports a routine disposition of shares by an executive to cover tax obligations, which is a common occurrence with equity compensation. It was executed under a pre-arranged Rule 10b5-1 plan and does not indicate any change in the company's fundamentals or the executive's long-term commitment. Therefore, it provides no new information to alter an existing investment recommendation.

Keywords

LA-Z-BOY, LZB, Form 4, Insider Transaction, Beneficial Ownership, Executive Compensation, Stock Sale, Rule 10b5-1, Michael Adam Leggett