Form 4: Levi Strauss Director Acquires Shares via DERs

Levi Strauss & Co. Director Jill Beraud acquired additional Class A and Class B common stock through dividend equivalent rights.

Summary

• Jill Beraud, a Director at Levi Strauss & Co. (LEVI), acquired 85 shares of Class A Common Stock on November 4, 2025, through dividend equivalent rights (DERs).
• These Class A DERs represent a contingent right to receive one share of Class A Common Stock upon settlement and will 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.
• Following this transaction, Jill Beraud beneficially owns 172,701 shares of Class A Common Stock directly.
• Additionally, Jill Beraud acquired 101 shares of Class B Common Stock on November 4, 2025, also through DERs.
• These Class B DERs are fully vested and represent a contingent right to receive one share of Class B Common Stock upon settlement, with the underlying shares subject to a deferral delivery feature.
• Each share of Class B Common Stock is convertible into one share of Class A Common Stock at the option of the holder and has no expiration date.
• Following this transaction, Jill Beraud beneficially owns 14,196 shares of Class B Common Stock directly.

Sentiment

Score: 6

Explanation: The acquisition of shares by a director, even through dividend equivalent rights, generally indicates a level of confidence in the company's future, which is a mildly positive signal. However, it is a routine compensation-related transaction rather than an open-market purchase.

Positives

• A director's acquisition of shares, even through dividend equivalent rights, can signal confidence in the company's future prospects and alignment with shareholder interests.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction, specifically the acquisition of shares by a director through dividend equivalent rights. Such transactions are common forms of executive compensation and do not inherently provide broad industry context or trends.

Stakeholder Impact

• Shareholders may view the director's acquisition of additional shares as a positive indicator of management's alignment with shareholder interests and confidence in the company's long-term value.

Next Steps

• The Class A Common Stock DERs will 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.
• The underlying shares of Class B Common Stock issuable pursuant to the DERs are subject to a deferral delivery feature.

Key Dates

Recommendation

This Form 4 reports a routine acquisition of shares by a director through dividend equivalent rights, which is a common form of compensation. While it indicates insider ownership, it does not provide sufficient new information to warrant a change in investment recommendation. Investors should consider broader financial performance and market conditions.

Keywords

Levi Strauss, LEVI, Form 4, Insider Transaction, Director Stock Acquisition, Dividend Equivalent Rights, Class A Common Stock, Class B Common Stock