Form 4: Levi Strauss Director Acquires Equity Rights

Levi Strauss & Co. Director Jill Beraud acquired dividend equivalent rights for Class A and Class B Common Stock on February 25, 2026.

Summary

• Jill Beraud, a Director at Levi Strauss & Co., acquired 75 dividend equivalent rights (DERs) for Class A Common Stock.
• Each Class A DER represents a contingent right to receive one share of Class A Common Stock upon settlement, vesting on the earlier of the day before the next Annual Stockholder Meeting or the first anniversary of the underlying award's grant date.
• Following this transaction, Jill Beraud directly beneficially owns 172,776 shares of Class A Common Stock.
• Jill Beraud also acquired 89 DERs for Class B Common Stock.
• Each Class B DER represents a contingent right to receive one share of Class B Common Stock upon settlement, which are fully vested.
• Class B Common Stock is convertible into Class A Common Stock at the holder's option and has no expiration date; the underlying shares are subject to a deferral delivery feature.
• Following this transaction, Jill Beraud directly beneficially owns 14,285 derivative securities of Class B Common Stock.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral. It is a routine disclosure of director compensation in the form of equity rights and does not indicate any significant positive or negative operational or financial developments for Levi Strauss & Co.

Positives

• The acquisition of dividend equivalent rights by a director indicates continued alignment of management interests with shareholder value through equity participation.

Future Outlook

The filing does not contain specific forward-looking statements or guidance beyond the vesting schedule for the Class A dividend equivalent rights.

Industry Context

StockSavvy.ai notes that insider transactions, such as the acquisition of equity rights, are a routine part of executive and director compensation structures in publicly traded companies across various industries, including apparel and retail. These transactions typically reflect compensation for services rather than open market purchases.

Comparison to Industry Standards

• The use of Dividend Equivalent Rights (DERs) as part of director compensation is a common practice across many industries, aligning director incentives with long-term company performance and shareholder returns. Companies like Nike (NKE) and PVH Corp. (PVH) also utilize various forms of equity-based compensation for their executives and directors, often including restricted stock units or performance share units that may accrue dividend equivalents.

Management Changes

Related Party Transactions

• The acquisition of dividend equivalent rights by a director is considered a related party transaction as it involves an insider receiving compensation from the company.

Stakeholder Impact

• Shareholders: The transaction aligns the director's interests with shareholders through equity ownership, potentially fostering long-term value creation.
• Management: The equity grant serves as a component of director compensation, incentivizing continued service and performance.

Next Steps

• The Class A dividend equivalent rights will vest on the earlier of the day before the next Annual Stockholder Meeting or the first anniversary of the underlying award's grant date.

Key Dates

Recommendation

This Form 4 filing details a routine insider transaction related to director compensation (dividend equivalent rights). It does not provide new information about the company's operational performance, financial health, or strategic direction that would warrant a change in investment recommendation. The transaction is expected and does not suggest any significant positive or negative catalysts for the stock price. Therefore, a 'hold' recommendation is appropriate, maintaining current positions based on broader company fundamentals and market conditions.

Keywords

Levi Strauss, LEVI, Jill Beraud, Director, SEC Form 4, Beneficial Ownership, Dividend Equivalent Rights, Class A Common Stock, Class B Common Stock, Insider Transaction, Equity Compensation