Form 4: Levi Strauss & Co. Director McCormick Acquires Additional Shares Through Dividend Equivalent Rights

Director Christopher J. McCormick increased his holdings in Levi Strauss & Co. through the acquisition of dividend equivalent rights (DERs) that convert into Class A and Class B Common Stock.

Summary

• On February 23, 2024, Christopher J. McCormick, a director of Levi Strauss & Co., acquired 69 shares of Class A Common Stock and 37 shares of Class B Common Stock through dividend equivalent rights (DERs).
• The DERs represent a contingent right to receive one share of the respective class of common stock upon settlement.
• McCormick's holdings following the transaction include 49,828 shares of Class A Common Stock and 57,223 derivative securities related to Class A Common Stock.
• The Class B Common Stock is convertible into Class A Common Stock at the holder's option and has no expiration date.
• The DERs for Class A Common Stock vest on the earlier of the day before the next Annual Stockholder Meeting or the first anniversary of the date of grant, and the underlying shares are subject to a deferral delivery feature.
• The DERs for Class B Common Stock are fully vested, and the underlying shares are subject to a deferral delivery feature.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it reflects a routine transaction. The director's increased holdings could be seen as a positive sign, but it's not a significant event.

Positives

• The acquisition of shares through dividend equivalent rights indicates a continued investment and alignment of interests by a director with the company's performance.

Future Outlook

The DERs for Class A Common Stock will vest on the earlier of the day before the next Annual Stockholder Meeting or the first anniversary of the date of grant.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. Monitoring these transactions can provide insights into management's sentiment about the company's prospects.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders, as it is a routine insider transaction.

Key Dates