Hayne Margaret 4

What Happened

• Margaret Hayne, Co‑President, Chief Creative Officer and director of Urban Outfitters (URBN), reported open‑market sales totaling 18,666 shares across trades on Jan 20–21, 2026. The four disposals reported were: 8,843 shares at a weighted avg $70.42 ($622,768), 490 shares at $71.11 ($34,844), 8,867 shares at $70.55 ($625,567), and 466 shares at $71.06 ($33,116), for aggregate proceeds of roughly $1.32 million. These were sales (not purchases) and were effected under a pre‑existing trading plan.

Key Details

• Transaction dates: 2026-01-20 and 2026-01-21.
• Reported quantities & amounts: 18,666 shares sold for approximately $1,316,295 total (see per‑trade breakdown above).
• Prices: filing reports weighted average prices; the actual prices received across trades ranged roughly between $70.00 and $71.36 per share (filing provides specific ranges and will disclose exact per‑price counts on request).
• Plan: Transactions were effected pursuant to a Rule 105b-1 trading plan adopted by Hayne on 7/10/2025 (per footnote).
• Ownership notes: Several blocks sold or reported are owned indirectly (trusts and/or spouse Richard A. Hayne); Margaret Hayne disclaims beneficial ownership of certain shares except for any pecuniary interest (per footnotes).
• Timeliness: Filing dated 2026-01-22 for trades on 1/20–1/21; appears timely under Form 4 reporting rules (no late filing noted in this report).
• Shares owned after transaction: not specified in the excerpt of this filing.

Context

• These transactions are sales under a pre‑arranged trading plan and therefore are generally viewed as routine dispositions rather than a direct signal of management sentiment. No purchases, option exercises, or awards were reported in this filing.