Form 4: LA-Z-BOY VP & CIO Disposes of Shares for Tax Liability Under 10b5-1 Plan

LA-Z-BOY's VP & Chief Information Officer, Carol Young Lee, reported the disposition of 122 common shares at $37.16 per share on July 15, 2025, to cover tax obligations under a pre-arranged Rule 10b5-1 plan.

Summary

• Carol Young Lee, the Vice President and Chief Information Officer of LA-Z-BOY INC (LZB), reported a transaction involving the company's common shares.
• On July 15, 2025, 122 common shares were disposed of.
• The shares were disposed of at a price of $37.16 per share.
• The transaction code 'F' indicates that the disposition was for the payment of an exercise price or tax liability incident to the receipt, exercise, or vesting of a security.
• This transaction was executed pursuant to a Rule 10b5-1(c) plan, signifying a pre-arranged sale.
• Following this reported transaction, Carol Young Lee directly beneficially owns 27,389 common shares.

Sentiment

Score: 5

Explanation: The transaction is a routine insider sale for tax purposes under a pre-arranged plan, which is generally neutral in sentiment. It does not indicate a change in company fundamentals or a lack of confidence.

Positives

• The transaction was conducted under a Rule 10b5-1(c) plan, which indicates a pre-arranged and systematic approach to insider stock transactions, often viewed positively as it reduces concerns about opportunistic trading.

Negatives

• A reduction in direct share ownership by a key executive, even for tax purposes, slightly decreases their direct equity alignment with shareholders, though the amount is minor.

Future Outlook

No forward-looking statements or guidance are provided in this Form 4 filing, as it primarily reports a past insider transaction.

Industry Context

This Form 4 filing reports a routine insider transaction by a company executive and does not provide information relevant to broader industry trends or competitive dynamics.

Related Party Transactions

• Disposition of 122 common shares by Carol Young Lee, VP & Chief Information Officer, to cover tax liability, which is a transaction between an insider and the company (or related to their compensation).

Stakeholder Impact

• Minimal impact on shareholders as it is a small, routine transaction for tax purposes by an executive.
• No direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

LA-Z-BOY, LZB, SEC Form 4, Insider Transaction, Stock Sale, Executive Compensation, Carol Young Lee, 10b5-1 Plan, Common Shares