Form 4: Levi Strauss Director Acquires Shares via DERs

Levi Strauss & Co. Director Troy Alstead acquired 85 shares of Class A Common Stock and 331 shares of Class B Common Stock through dividend equivalent rights.

Summary

• Director Troy Alstead acquired 85 shares of Levi Strauss & Co. Class A Common Stock on November 4, 2025.
• These shares were acquired through dividend equivalent rights (DERs) at a price of $0.00 per share.
• The DERs for Class A Common Stock vest 100% on the earlier of the day before the next Annual Stockholder Meeting or the first anniversary of the underlying award's grant date.
• Alstead also acquired 331 shares of Class B Common Stock on November 4, 2025, also through DERs at $0.00 per share.
• The Class B Common Stock DERs are fully vested, with the underlying shares subject to a deferral delivery feature.
• Each Class B Common Stock share is convertible into one Class A Common Stock share at the holder's option and has no expiration date.
• Following these transactions, Alstead beneficially owns 122,701 shares of Class A Common Stock and 46,500 shares of Class B Common Stock directly.
• The transactions were made pursuant to a Rule 10b5-1(c) plan.

Sentiment

Score: 7

Explanation: The acquisition of shares by a director, even through compensation mechanisms like DERs, generally signals confidence in the company's future prospects. The use of a 10b5-1 plan also indicates a pre-planned, non-opportunistic transaction.

Positives

• Director Troy Alstead increased his beneficial ownership in the company by acquiring 85 shares of Class A Common Stock and 331 shares of Class B Common Stock.
• The acquisitions were made through dividend equivalent rights (DERs), indicating a form of compensation or benefit.
• The transactions were executed under a Rule 10b5-1(c) plan, which demonstrates a pre-arranged, systematic approach to insider trading, often viewed positively as it reduces concerns about opportunistic trading.

Future Outlook

The vesting schedule for the Class A Common Stock dividend equivalent rights indicates future share settlement, contingent on the earlier of the day before the next Annual Stockholder Meeting or the first anniversary of the underlying award's grant date.

Industry Context

This filing reflects routine insider compensation and ownership adjustments within the apparel and retail industry, where executive and director equity awards are common mechanisms for aligning interests with shareholders.

Related Party Transactions

• The acquisition of shares by Director Troy Alstead through dividend equivalent rights represents a transaction between an insider and the company, which is a form of related party transaction.

Stakeholder Impact

• Shareholders: Increased insider ownership can be viewed positively as it aligns management interests with shareholders.

Next Steps

• Settlement of Class A Common Stock DERs upon vesting, which occurs on the earlier of the day before the next Annual Stockholder Meeting or the first anniversary of the underlying award's grant date.
• Potential conversion of Class B Common Stock into Class A Common Stock at the holder's option.

Key Dates

Recommendation

This Form 4 filing details a routine acquisition of shares by a director through dividend equivalent rights as part of compensation, executed under a 10b5-1 plan. While insider buying can be a positive signal, these specific transactions are compensation-related and not open market purchases, thus they do not significantly alter the investment thesis or warrant a change from a 'hold' position based solely on this filing. It confirms ongoing alignment of director interests with shareholders but doesn't provide new fundamental insights for a 'buy' or 'sell' recommendation.

Keywords

Levi Strauss, LEVI, Form 4, Insider Trading, Director, Stock Acquisition, Dividend Equivalent Rights, DERs, Class A Common Stock, Class B Common Stock, Rule 10b5-1