Form 4: Levi Strauss CEO Michelle Gass Reports Equity Awards

Levi Strauss & Co. President and CEO Michelle Gass reported the acquisition of restricted stock units and stock appreciation rights, alongside shares withheld for tax obligations.

Summary

• Michelle Gass, President & CEO and a Director of Levi Strauss & Co., reported transactions on January 30, 2026.
• Acquired 125,763 shares of Class A Common Stock in the form of Restricted Stock Units (RSUs) at a price of $0.00 per share.
• Disposed of 49,326 shares of Class A Common Stock at a price of $19.88 per share to cover tax obligations arising from the settlement of vested RSUs.
• Acquired 377,289 Stock Appreciation Rights (SARs) at a price of $0.00, with an exercise price of $19.88.
• Following these transactions, beneficial ownership of Class A Common Stock is 741,775 shares and 377,289 Stock Appreciation Rights.
• Both the RSUs and SARs vest in four equal installments of 25% on January 29, 2027, January 28, 2028, January 26, 2029, and January 25, 2030, contingent on continuous service.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive event. It reflects routine executive compensation, aligning management's interests with shareholders, but does not introduce new material information about the company's operational or financial performance.

Positives

• The acquisition of 125,763 Restricted Stock Units and 377,289 Stock Appreciation Rights aligns the interests of the President & CEO with those of shareholders, incentivizing long-term performance.
• Equity awards are a standard component of executive compensation, indicating continued commitment to retaining key leadership.

Negatives

• 49,326 shares of Class A Common Stock were disposed of to cover tax obligations, which is a reduction in direct beneficial ownership, though a common practice for equity compensation.

Future Outlook

This filing does not contain forward-looking statements or guidance regarding the company's future financial performance or strategic direction, focusing solely on insider equity transactions.

Industry Context

StockSavvy.ai notes that the granting of Restricted Stock Units (RSUs) and Stock Appreciation Rights (SARs) to a President & CEO is a common practice in the retail and apparel industry for executive compensation. This structure aims to align executive incentives with long-term shareholder value creation, a standard approach across publicly traded companies.

Comparison to Industry Standards

• The equity compensation structure, involving RSUs and SARs with multi-year vesting schedules, is consistent with typical executive incentive plans observed in major apparel companies like Nike, Adidas, and PVH Corp. (owner of Calvin Klein and Tommy Hilfiger).
• The disposition of shares for tax withholding is a standard and expected event when equity awards vest, reflecting common tax practices for executive compensation across industries.

Stakeholder Impact

• Shareholders: The equity awards align the President & CEO's financial interests with long-term shareholder value, potentially fostering sustained performance.
• Employees: No direct impact on general employees is indicated by this filing.

Next Steps

• The RSUs and SARs will vest in four equal installments on January 29, 2027, January 28, 2028, January 26, 2029, and January 25, 2030, subject to continuous service.

Key Dates

Keywords

Levi Strauss, LEVI, Michelle Gass, Insider Transaction, Form 4, Restricted Stock Units, RSUs, Stock Appreciation Rights, SARs, Executive Compensation, Equity Awards