GRAY PETER L 4

What Happened Peter L. Gray, Lands' End President — LE Licensing, CAO & GC, was issued 23,039 shares on 2026-03-05 as a performance-based restricted stock unit (RSU) award (code A). To satisfy the tax withholding obligation tied to the vesting, 8,069 of those shares were withheld by the issuer at a reported withholding value of $16.24 per share, representing $131,041 (code F). The award shares were issued at $0.00 per share because they were the result of vested RSUs.

Key Details

• Transaction date: 2026-03-05 (Form 4 filed 2026-03-09).
• Award: 23,039 shares issued (code A) — issued due to performance criteria from RSUs granted 6/14/2023 (footnote F1).
• Withholding/tax: 8,069 shares withheld by issuer to satisfy tax obligations at $16.24/share = $131,041 (code F; footnote F2).
• Price to insider for award: $0.00 (shares issued upon vesting).
• Shares owned after transaction: not specified in the filing.
• Filing timeliness: filed within normal Section 16 reporting window (no late- filing flag noted).

Context This was a vesting of performance-based RSUs, not an open-market purchase or voluntary sale. The withheld 8,069 shares reflect standard tax withholding (a cashless withholding), not a discretionary sale by the insider. Such awards increase insider ownership but do not by themselves indicate buy/sell intent.