Christopher Martin D. 4

What Happened
Christopher Martin, EVP and Chief Technology Officer of Lands' End (LE), received a grant of 24,599 restricted stock units (RSUs) and a portion vested/converted to common shares. On 2026-03-24, 5,151 RSUs were converted/exercised into shares at a $0 exercise price. To satisfy tax withholding, 1,649 shares were withheld at $12.56 per share for a cash value of $20,711. The remaining RSUs remain subject to the stated vesting schedule.

Key Details

• Transaction dates: RSU grant reported 2026-03-23; conversions/exercise and withholding occurred 2026-03-24; Form 4 filed 2026-03-25.
• Prices/values: Exercise/conversion price $0.00; tax withholding rate implied by $12.56/share → 1,649 shares withheld for $20,711.
• Shares after transaction: Filing does not report total shares beneficially owned after these transactions.
• Footnotes / vesting: These are time-based RSUs (contingent rights to receive shares upon vesting). Footnotes indicate multi-year vesting schedules (annual installments in 2026–2029 for various tranches; one tranche was granted March 24, 2025 with 25%/25%/50% vesting). See F2–F5 for detailed tranche and vesting-date breakdowns.
• Tax withholding: The 1,649-share disposition (code F) represents shares withheld by the issuer to satisfy tax obligations — a routine cashless withholding, not an open-market sale.
• Timeliness: Form filed two days after the reported vesting/conversion dates (filed 2026-03-25 for transactions on 2026-03-23/24), which is typical and not flagged as late.

Context
This filing reflects an RSU grant and partial vesting/conversion with share withholding to cover taxes — a common, routine insider transaction. The exercise/conversion at $0 indicates RSUs converting to shares rather than an option purchase; the withholding of shares to satisfy tax obligations is effectively a cashless transaction and should not be interpreted as a market sale signaling sentiment.