HAYNE RICHARD A 4

What Happened

• Richard A. Hayne, a reported 10% owner of Urban Outfitters, sold a total of 40,000 shares in open‑market transactions on Feb 17–18, 2026 for total proceeds of about $2,822,080. Individual reported trades include 10,623 and 9,296 shares at ~$70.20, smaller blocks at ~$71.43 on Feb 17, and 7,414; 6,487; 3,253; and 2,846 shares at roughly $70.77–$71.20 on Feb 18. These were sales (not purchases), and were effected pursuant to a prearranged trading plan.

Key Details

• Transaction dates: Feb 17, 2026 and Feb 18, 2026.
• Total sold: 40,000 shares for approximately $2.82 million.
• Reported prices: weighted averages shown on the filing (individual trade prices/averages near $70.00–$71.67; ranges disclosed in footnotes).
• Plan disclosure: filing notes the trades were effected pursuant to a Rule 10b5‑1 trading plan adopted 7/10/2025.
• Ownership/beneficial interest: several footnotes indicate many of the shares were held indirectly or in trusts (Hayne disclaims beneficial ownership of those shares except for any pecuniary interest).
• Shares owned after transaction: not specified in the data you provided.
• Filing timeliness: filing date 2026‑02‑19 for trades on 2/17–2/18 (no late‑filing flag shown in the provided details).

Context

• As a 10% owner, Hayne’s sales are institutional/insider transactions but not necessarily executive compensation moves; sales under a 10b5‑1 plan are typically prearranged and can be routine portfolio management rather than a signal about company prospects. Retail investors should view this as insider selling activity but not draw definitive conclusions about company fundamentals from sales alone.