SMITH CLARENCE H 4
4 · HAVERTY FURNITURE COMPANIES INC · Filed Mar 3, 2026
Research Summary
AI-generated summary of this filing
Haverty (HVT) Exec Chair Clarence Smith Exercises Awards, Withholds Shares
What Happened
- Clarence H. Smith, Executive Chairman and Director of Haverty Furniture Companies (HVT), converted/exercised a total of 23,469 derivative units into common stock (20,722 + 2,747 shares) on 2026-02-27. Those conversions were recorded at $0 (these were award conversions, not option purchases).
- To satisfy tax withholding, 10,562 shares were surrendered/disposed at $23.81 per share for total withholding of $251,481.
- The filing also shows grants/awards of 19,127 derivative units (15,903 + 3,224 shares) recorded as acquisitions at $0 (these are PRSU/RSU-type awards reported as derivative awards).
Key Details
- Transaction date: February 27, 2026. Form 4 filed March 3, 2026 (timely within the 2-business-day reporting window).
- Exercise/conversion (code M): 20,722 and 2,747 shares acquired (total 23,469) at $0. Tax withholding (code F): 10,562 shares disposed at $23.81 for $251,481. Grant/award (code A): 15,903 and 3,224 derivative awards recorded at $0 (total 19,127).
- Shares owned after the transactions: not specified in the provided filing excerpt.
- Relevant footnotes: several awards are Performance Restricted Stock Units (PRSUs) and Restricted Stock Units (RSUs) with various grant dates and vesting schedules (see footnotes F1–F9). Footnotes F3/F4 indicate certain PRSUs granted 1/26/2023 were earned and vest on 2/28/2026 (consistent with conversions reported). F10 notes some amounts are deferred under the Directors' Deferred Compensation Plan.
- Codes explained: M = exercise/conversion of a derivative award; F = payment of exercise price or tax liability (share withholding); A = grant/award.
Context
- This appears to be a routine net settlement of vested equity awards (PRSUs/RSUs) rather than an open-market sale or a cash purchase. The withheld shares (F code) were used to cover tax obligations—common practice when awards vest.
- Such transactions are administrative/compensation-related and do not necessarily signal the insider’s view on the company’s stock.
Insider Transaction Report
Form 4
SMITH CLARENCE H
DirectorOther
Transactions
- Exercise/Conversion
Common Stock
2026-02-27+20,722→ 97,900 total - Exercise/Conversion
Common Stock
2026-02-27+2,747→ 100,647 total - Tax Payment
Common Stock
2026-02-27$23.81/sh−10,562$251,481→ 90,085 total - Award
PRSUs 2025
[F1]2026-02-27+15,903→ 15,903 total→ Common Stock (15,903 underlying) - Award
PRSUs 2025.1
[F2]2026-02-27+3,224→ 3,224 total→ Common Stock (3,224 underlying) - Exercise/Conversion
PRSUs 2023
[F3]2026-02-27−20,722→ 0 total→ Common Stock (20,722 underlying) - Exercise/Conversion
PRSUs 2023.1
[F4]2026-02-27−2,747→ 0 total→ Common Stock (2,747 underlying)
Holdings
- 29,689(indirect: By Spouse)
Common Stock
- 7,850(indirect: By Partnership)
Common Stock
- 124,536
Class A Common Stock
- 1,950(indirect: By Spouse)
Class A Common Stock
- 603,497(indirect: By Villa Clare, LP)
Class A Common Stock
- 13,553
PRSUs 2024
[F5]→ Common Stock (13,553 underlying) - 2,648
RSUs 2023
[F6]→ Common Stock (2,648 underlying) - 5,590
RSUs 2024
[F7]→ Common Stock (5,590 underlying) - 3,763
RSUs 2025
[F8]→ Common Stock (3,763 underlying) - 2,424
RSUs 2026
[F9]→ Common Stock (2,424 underlying) - 6,870
Phantom Stock
[F10]Exercise: $0.00→ Common Stock (6,870 underlying)
Footnotes (10)
- [F1]Performance Restrict Stock Units ("PRSU") award granted 01/22/2025. Each PRSU represents a contingent right to receive one share of HVT common stock and was earned based on EBITDA for the year ended December 31, 2025 and will vest on February 28, 2028.
- [F10]Deferred under Directors' Deferred Compensation Plan. Settlement will occur as prescribed by the elections under the Plan.
- [F2]Performance Restrict Stock Units ("PRSU") award granted 01/22/2025. Each PRSU represents a contingent right to receive one share of HVT common stock and was earned based on consolidated sales for the year ended December 31, 2025 and will vest on February 28, 2028.
- [F3]Performance Restricted Stock Units ("PRSUs") award granted 1/26/2023. Each PRSU represents a contingent right to receive one share of HVT common stock and was earned based on EBITDA for the year ended December 31, 2023, and will vest on February 28, 2026.
- [F4]Performance Restricted Stock Units ("PRSUs") award granted 1/26/2023. Each PRSU represents a contingent right to receive one share of HVT common stock and was earned based on consolidated sales for the year ended December 31, 2023, and will vest on February 28, 2026.
- [F5]Performance Restricted Stock Units ("PRSU") award granted 01/25/2024. Each PRSU represents a contingent right to receive one share of HVT common stock and was earned based on EBITDA for the year ended December 31, 2024, and will vest on February 28, 2027.
- [F6]Restricted Stock Units granted 1/26/2023 and vest ratably over 3 years beginning 5/8/2024. Each RSU is equivalent to one share of common stock upon vesting.
- [F7]Restricted Stock Units granted 1/25/2024 and vest ratably over 3 years beginning 5/8/2025. Each RSU is equivalent to one share of common stock upon vesting.
- [F8]Restricted Stock Units granted 1/23/2025 and vest ratably over 3 years beginning 5/8/2026. Each RSU is equivalent to one share of common stock upon vesting.
- [F9]Restricted Stock Units granted 1/22/2026 and vest ratably over 3 years beginning 5/8/2027. Each RSU is equivalent to one share of common stock upon vesting.
Signature
Belinda J. Clements, Attorney-in-Fact|2026-03-03