Form 4: Shoe Carnival Director Reports Stock Gift

Wayne J. Weaver, a Director and 10% owner of Shoe Carnival Inc., reported a transaction involving the gift of 166,666 shares of common stock.

Summary

• Wayne J. Weaver, a Director, 10% owner, and Chairman of the Board of Shoe Carnival Inc. (SCVL), has reported a transaction on April 10, 2026.
• The transaction involved the disposition of 166,666 shares of common stock.
• These shares were gifted by Delores B. Weaver, the reporting person's spouse, to a donor-advised charitable gift fund as part of her estate planning.
• Following this transaction, the reporting person beneficially owns 4,333,180 shares of common stock, with 4,177,482 held directly and the remainder indirectly.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing. While a significant number of shares were transferred, it was a charitable gift and not a sale, with the reporting person retaining substantial ownership.

Positives

• The transaction represents a charitable gift, indicating a commitment to philanthropy.
• The reporting person, Wayne J. Weaver, continues to hold a significant number of shares (4,333,180), demonstrating ongoing confidence in the company.

Negatives

• A substantial number of shares (166,666) have been transferred out of direct or indirect beneficial ownership of the reporting person and their spouse, which could be perceived as a reduction in their direct stake.

Risks

• The filing does not explicitly mention any risks associated with this transaction.

Future Outlook

No forward-looking statements or guidance are provided in this filing.

Management Comments

• The shares were gifted by Delores B. Weaver, the reporting person's spouse, to a donor-advised charitable gift fund as part of her estate planning.
• The reporting person's spouse has no control over, and cannot direct the disposition of, the gifted shares by the charitable gift fund and has no pecuniary interest in the gifted shares.

Industry Context

StockSavvy.ai notes that Form 4 filings, like this one from Shoe Carnival (SCVL), are standard disclosures for significant shareholders and insiders. Such filings detail changes in beneficial ownership, including sales, purchases, or gifts, providing transparency to the market about insider activity. The nature of this transaction as a charitable gift is a common practice among executives and major shareholders.

Related Party Transactions

• Gift of 166,666 shares of common stock from Delores B. Weaver (spouse of reporting person) to a donor-advised charitable gift fund.

Stakeholder Impact

• Shareholders: Increased transparency regarding insider holdings. The gift does not directly impact the total number of outstanding shares but reduces the reporting person's direct beneficial ownership.
• Charitable Organizations: Potential beneficiaries of the donor-advised fund may eventually receive proceeds from the gifted shares.
• Reporting Person and Spouse: Fulfillment of estate planning and philanthropic goals.

Next Steps

• No specific next steps are mentioned in relation to this transaction.

Key Dates

Keywords

Shoe Carnival, SCVL, Form 4, Stock Gift, Beneficial Ownership, Insider Transaction, Charitable Donation, Wayne J. Weaver, Director, 10% Owner