GRAY PETER L 4

4 · LANDS' END, INC. · Filed Mar 25, 2026

AI-generated summary of this filing

Updated Mar 25, 2026

Lands' End (LE) Peter L. Gray Receives RSUs, Exercises & Withholds

What Happened

Peter L. Gray (Pres LE Licensing, CAO & GC) was granted 32,577 restricted stock units (RSUs) on 2026-03-23. On 2026-03-24, 6,822 RSUs vested/converted into shares (no cash exercise price). Of the shares resulting from vesting/conversion, 2,336 shares were withheld by the issuer to satisfy tax withholding obligations, generating proceeds of $29,340. The filing shows conversion/exercise entries (code M) and a withholding/disposition entry (code F).

Key Details

Transaction dates and prices:
- 2026-03-23: Grant of 32,577 RSUs (code A), exercise price $0.00 (RSU award).
- 2026-03-24: Conversion/exercise of 6,822 RSUs into shares (code M), $0.00 exercise price.
- 2026-03-24: Shares withheld for taxes: 2,336 shares disposed (code F) at $12.56 each, total $29,340.
Shares owned after transaction: Not specified in the provided filing.
Relevant footnotes:
- F1: Each RSU converts into one common share upon vesting.
- F2: The 2,336-share disposition reflects issuer withholding to satisfy tax obligations.
- F3–F5: These RSUs are time‑based and vest in scheduled installments across 2026–2029 (see footnotes for specific vesting dates and amounts).
Filing timeliness: Report filed 2026-03-25 for transactions on 2026-03-23–03-24; appears to be filed within the usual Form 4 timeframe (no late filing indicated).

Context

These transactions are largely award/vesting and routine tax withholding rather than an open-market sale or purchase. RSUs convert to shares at $0 exercise price (typical for RSUs); withholding of shares to cover taxes is common and does not necessarily signal a sentiment to buy or sell additional stock.
Transaction codes: A = award/grant, M = exercise/conversion of derivative/RSU, F = shares withheld for tax withholding.

Form 4

Period: 2026-03-23

PRES LE Licensing, CAO & GC

Transactions

Exercise/Conversion
Common Stock
[F1]
2026-03-24+6,822→ 153,069 total
Tax Payment
Common Stock
[F2]
2026-03-24$12.56/sh−2,336$29,340→ 150,733 total
Award
Restricted Stock Units
[F1][F3]
2026-03-23+32,577→ 101,297 total
Exercise: $0.00→ Common Stock (32,577 underlying)
Exercise/Conversion
Restricted Stock Units
[F1][F4][F5]
2026-03-24−6,822→ 94,475 total
Exercise: $0.00→ Common Stock (6,822 underlying)

Footnotes (5)

[F1]Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of common stock upon satisfaction of the vesting conditions.
[F2]Shares withheld by the issuer to satisfy reporting person's tax withholding obligation incurred in connection with the vesting of RSUs.
[F3]These are time-based RSUs that will vest, subject to satisfaction of vesting conditions including a continuous business relationship, in three annual installments on March 23, 2027 (25%), March 23, 2028 (25%) and March 23, 2029 (50%).
[F4]This RSU award was granted on March 24, 2025, with vesting in three installments on March 24, 2026 (25%), March 24, 2027 (25%) and March 24, 2028 (50%).
[F5]Of the total number of RSUs, 21,736 RSUs will vest on June 14, 2026; 6,565 RSUs will vest on April 1, 2026 and 13,130 RSUs will vest on April 1, 2027; 6,822 will vest on March 24, 2027 and 13,645 will vest on March 24, 2028; and 8,144 will vest on March 23, 2027, 8,144 will vest on March 23, 2028 and 16,289 will vest on March 23, 2029; subject in each case to the satisfaction of vesting conditions, including maintaining a continuous business relationship.

Signature

/s/ Peter L. Gray|2026-03-25

1 file