Form 4: URBN Co-President Sells Shares Under 10b5-1 Plan

Urban Outfitters Co-President and CCO Margaret Hayne sold 18,666 common shares in October 2025 under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Margaret Hayne, Co-President & CCO of Urban Outfitters Inc. (URBN), reported sales of common shares.
• On October 10, 2025, 9,333 common shares were sold at a weighted average price of $70.46 per share, with prices ranging from $70.01 to $70.83.
• On October 13, 2025, an additional 9,333 common shares were sold at a weighted average price of $70.11 per share, with prices ranging from $70.00 to $70.50.
• These transactions were executed pursuant to a Rule 10b5-1 trading plan adopted by Ms. Hayne on July 10, 2025.
• Following these transactions, Ms. Hayne directly owns 1,176,273 common shares and indirectly owns various shares through trusts, a profit-sharing fund, and her spouse.

Sentiment

Score: 5

Explanation: A routine insider sale under a 10b5-1 plan is generally considered neutral. It reflects a pre-planned liquidity event for the insider rather than a statement on the company's immediate prospects.

Positives

• The transactions were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a planned and not reactive sale.

Negatives

• No specific negatives are indicated by a routine insider sale under a 10b5-1 plan.

Risks

• No specific risks are mentioned in this Form 4 filing.

Future Outlook

NA

Management Comments

• The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 7/10/2025.
• The reporting person undertakes to provide upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range.
• Margaret Hayne disclaims beneficial ownership of these shares, except to the extent of any pecuniary interest therein.

Industry Context

This Form 4 filing reports a routine insider transaction and does not provide information relevant to broader industry trends or competitor analysis.

Related Party Transactions

• Indirect ownership through trusts where immediate family members are among the beneficiaries.
• Indirect ownership through a spouse and spouse's Profit Sharing Fund (401(k)) Plan.
• Indirect ownership through the Hayne Foundation.

Stakeholder Impact

• Shareholders: A minor, pre-planned sale by an insider, generally not indicative of significant changes in company prospects.
• Management: The Co-President and CCO is executing a personal liquidity plan.

Key Dates

Keywords

Urban Outfitters, URBN, Margaret Hayne, Insider Sale, Form 4, 10b5-1 Plan, Common Shares, Retail, Apparel