McCRACKEN BERNARD LOUIS III 4

What Happened
Bernard McCracken, CFO and Treasurer of Lands' End (LE), had 16,302 restricted stock units (RSUs convertable to common shares) vest on March 24, 2026. Of those vested shares, the issuer withheld 5,217 shares to satisfy tax withholding obligations (reported value $65,526 at $12.56/share), leaving a net delivery of approximately 11,085 shares to McCracken. The filing also reports a separate grant of 24,599 RSUs on March 23, 2026 (additional award, subject to future vesting).

Key Details

• Transaction dates: RSU grant 3/23/2026; RSU conversion/vesting and tax withholding 3/24/2026. Filing date: 2026-03-25 (appears timely).
• Vest/conversion: 16,302 RSUs converted to common shares (reported at $0 exercise price because these are RSUs).
• Tax withholding: 5,217 shares withheld at $12.56/share = $65,526 (code F).
• New grant: 24,599 RSUs awarded on 3/23/2026 (code A); vesting schedules described in footnotes.
• Shares owned after transaction: Not specified in the filing.
• Footnotes: RSUs represent contingent rights to receive one share upon vesting (F1). Withholding of shares to satisfy tax obligations is confirmed (F2). Several footnotes outline time-based vesting schedules for the awards (F3–F5).

Context

• These were RSU vestings/conversions (derivative-to-common conversion), not open-market purchases or discretionary sales. The withholding of shares to cover taxes is a routine administrative action and does not necessarily indicate a decision to sell remaining shares.
• The filing also shows a recent grant of RSUs (24,599) with multi-year vesting installments; those will vest on specified future dates if vesting conditions are met.
• The report was filed within a typical short window after the transactions, so no late-filing flag is indicated.