Form 4: Levi Strauss & Co. Director David A. Friedman Reports Stock Transactions

Director David A. Friedman reports acquisition of shares through dividend equivalent rights and disposition of shares via a Rule 10b5-1 plan.

Summary

• On February 28, 2025, David A. Friedman, a director of Levi Strauss & Co., acquired 56 shares of Class A Common Stock through dividend equivalent rights (DER) at a price of $0.00.
• On March 3, 2025, Friedman disposed of 4,166 shares of Class A Common Stock at a price of $18.02 per share, pursuant to a previously established Rule 10b5-1 plan.
• Following these transactions, Friedman directly owns 43,065 shares of Class A Common Stock and indirectly owns 95,846 shares through the David A. Friedman 1993 Revocable Trust.
• Friedman also directly owns 9,658 derivative securities representing the right to acquire Class A Common Stock and indirectly owns 1,156,540 derivative securities representing the right to acquire Class A Common Stock through the David A. Friedman 1993 Revocable Trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the transactions involve both acquisition through dividend rights and pre-planned selling under a 10b5-1 plan. It doesn't strongly indicate positive or negative sentiment.

Positives

• The acquisition of shares through dividend equivalent rights could be seen as a positive sign, indicating confidence in the company's future performance.

Negatives

• The sale of shares, even under a pre-arranged Rule 10b5-1 plan, could be interpreted negatively by some investors, although it doesn't necessarily reflect a lack of confidence.

Risks

• The market's reaction to insider selling, even if pre-planned, can be unpredictable and may negatively impact the stock price.

Industry Context

Insider transactions are common and closely monitored in the apparel industry, as they can provide insights into management's perspective on the company's prospects. Rule 10b5-1 plans are frequently used to allow insiders to sell shares without raising concerns about trading on non-public information.

Comparison to Industry Standards

• Comparing Friedman's transactions to those of other directors in similar apparel companies like PVH Corp. or Ralph Lauren Corporation could provide context.
• Analyzing the frequency and size of insider transactions in these companies relative to their market capitalization and stock performance could offer a benchmark.
• The use of Rule 10b5-1 plans is a standard practice among executives in publicly traded companies to manage their stock holdings.

Stakeholder Impact

• Shareholders may react to the reported transactions, potentially influencing the stock price in the short term.
• The transactions themselves have no direct impact on employees, customers, suppliers, or creditors.

Key Dates