KANTER HARVEY S 4
4 · DESTINATION XL GROUP, INC. · Filed Apr 3, 2026
Research Summary
AI-generated summary of this filing
Destination XL (DXLG) CEO Harvey Kanter Exercises RSUs; Taxes Withheld
What Happened
Harvey S. Kanter, President, CEO and a director of Destination XL Group, converted time‑based restricted stock units (RSUs) into 124,210 shares of DXLG common stock on April 1, 2026. To satisfy tax withholding, 52,603 of those shares were withheld at $0.51 per share for $26,828, leaving 71,607 shares issued to him. These RSUs stem from prior long‑term incentive awards.
Key Details
- Transaction date: April 1, 2026; Form 4 filed April 3, 2026 (appears timely).
- Actions reported: multiple RSU conversions (reported as derivative exercise/conversion, code M) totaling 124,210 shares; tax withholding (code F) of 52,603 shares at $0.51/share = $26,828.
- Net new shares received by Kanter: 71,607 (124,210 issued − 52,603 withheld).
- Shares owned after transaction: not disclosed in the filing.
- Footnotes: F1 = each RSU converts to one share; F2 = withheld shares used to pay taxes; F3–F6 = RSUs relate to 2022–2025 LTIP awards with remaining vesting dates through 2029.
Context
This transaction reflects RSU vesting/settlement (not an open‑market buy or sell). Withholding shares to cover taxes is a routine settlement method and does not itself indicate the insider’s market view. The filing documents time‑based LTIP awards and scheduled vesting rather than an opportunistic purchase or sale.
Insider Transaction Report
- Exercise/Conversion
Common Stock, $0.01 par value
[F1]2026-04-01+17,990→ 747,847 total - Exercise/Conversion
Common Stock, $0.01 par value
[F1]2026-04-01+20,572→ 768,419 total - Exercise/Conversion
Common Stock, $0.01 par value
[F1]2026-04-01+25,440→ 793,859 total - Exercise/Conversion
Common Stock, $0.01 par value
[F1]2026-04-01+60,208→ 854,067 total - Tax Payment
Common Stock, $0.01 par value
[F2]2026-04-01$0.51/sh−52,603$26,828→ 801,464 total - Exercise/Conversion
Restricted Stock Units
[F1][F3]2026-04-01−17,990→ 0 total→ Common Stock (17,990 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F4]2026-04-01−20,572→ 20,572 total→ Common Stock (20,572 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F5]2026-04-01−25,440→ 50,880 total→ Common Stock (25,440 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F6]2026-04-01−60,208→ 180,625 total→ Common Stock (60,208 underlying)
Footnotes (6)
- [F1]Each RSU, as defined in the Company's 2016 Incentive Compensation Plan, represents a contingent right to receive one share of DXLG common stock.
- [F2]Represents shares withheld from shares otherwise issuable upon vesting of RSUs for payment of taxes.
- [F3]Represents RSUs for the time-based portion of the 2022-2024 Long-Term Inventive Plan awared to the Reporting Person on April 9, 2022.
- [F4]Represents RSUs for the time-based portion of the 2023-2025 Long-Term Inventive Plan awared to the Reporting Person on May 1, 2023. The remaining RSUs vest and become exercisable on April 1, 2027.
- [F5]Represents RSUs for the time-based portion of the 2024-2026 Long-Term Inventive Plan awared to the Reporting Person on April 1, 2024. The remaining RSUs vest and become exercisable on April 1, 2027 and April 1, 2028.
- [F6]Represents RSUs for the time-based portion of the 2025-2027 Long-Term Inventive Plan awared to the Reporting Person on April 1, 2025. The remaining RSUs vest and become exercisable on April 1, 2027, April 1, 2028 and April 1, 2029.