SCHEDULE: FMR LLC Discloses 10.4% Stake in Steven Madden Ltd.
Beneficial Ownership Disclosure
FMR LLC and Abigail P. Johnson have disclosed a 10.4% beneficial ownership stake in STEVEN MADDEN LTD, totaling over 7.5 million common shares.
Summary
- FMR LLC and Abigail P. Johnson reported beneficial ownership of 7,519,684.05 common shares of STEVEN MADDEN LTD.
- This represents 10.4% of the outstanding common stock of STEVEN MADDEN LTD.
- FMR LLC holds sole voting power over 7,503,856.00 shares and sole dispositive power over 7,519,684.05 shares.
- The shares were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of STEVEN MADDEN LTD.
- The filing was made under Rule 13d-1(b) by FMR LLC as a parent holding company and Abigail P. Johnson as an individual.
Sentiment
Score: 6
Explanation: The disclosure of a significant 10.4% stake by a major institutional investor like FMR LLC is generally viewed positively as it signals confidence in the company. However, as a passive ownership filing, it provides no direct operational or financial insights into STEVEN MADDEN LTD itself, thus limiting the overall sentiment score to slightly positive rather than strongly positive.
Positives
- A major institutional investor, FMR LLC, has taken a significant 10.4% stake in STEVEN MADDEN LTD, indicating confidence in the company's long-term prospects.
- The investment is stated to be for ordinary course of business, suggesting a passive, long-term holding rather than an activist position.
Risks
- The filing explicitly states the shares were not acquired for the purpose of changing or influencing control of the issuer, mitigating concerns about potential activist investor actions.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Internal Governance Disclosure | Members of the Johnson family, including Abigail P. Johnson, are predominant owners of Series B voting common shares of FMR LLC (49% voting power) and have a shareholders' voting agreement to vote Series B shares in accordance with the majority vote, forming a controlling group for FMR LLC. | NA | This relates to the internal governance of FMR LLC, the reporting entity, and not directly to STEVEN MADDEN LTD's corporate governance. It clarifies the control structure of the beneficial owner. |
Stakeholder Impact
- Shareholders: The disclosure of a significant institutional stake may increase investor confidence and potentially influence stock valuation due to perceived institutional backing.
Key Dates
| Date | Description |
|---|---|
| 05/23/2023 | Effective date of Power of Attorney for Richard Bourgelas. |
| 08/08/2023 | Date of previous Schedule 13G filing by FMR LLC, where the Power of Attorney was incorporated by reference. |
| 07/31/2025 | Date of event which requires filing of this statement (ownership threshold met). |
| 08/06/2025 | Date of signing of the Schedule 13G by FMR LLC and Abigail P. Johnson. |
Keywords
STEVEN MADDEN LTD, SMDD, FMR LLC, Abigail P. Johnson, Beneficial Ownership, Institutional Investor, Common Stock, SEC Filing, Schedule 13G, Footwear, Accessories
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.