MESDAG WILLEM 4
4 · DESTINATION XL GROUP, INC. · Filed May 6, 2026
Research Summary
AI-generated summary of this filing
Destination XL (DXLG) 10% Owner Willem Mesdag Receives Award
What Happened
Willem Mesdag (reported as a 10% owner) was credited with 58,373 deferred stock units (DSUs) on May 4, 2026 as an award under the Company's Director Plan. The Form 4 records the acquisition at $0.00 (derivative award); the filing notes the per‑share value is based on the closing price of DXLG on May 1, 2026. Each DSU represents the economic equivalent of one share but is payable later under the Director Plan.
Key Details
- Transaction date: May 4, 2026; filing date: May 6, 2026 (timely filed). Transaction code: A (award/grant).
- Amount: 58,373 DSUs credited; reported acquisition price: $0.00 (derivative). Per‑share value determined by DXLG close on May 1, 2026 (see footnote).
- Shares/units owned: Footnote lists 2,593,758 shares held across entities controlled by the reporting person (Mesdag Family LP, Foundation, trusts, Red Mountain entities). The DSUs add 58,373 units of deferred economic exposure (combined ~2,652,131 if counted together).
- Notable footnotes: DSUs are director compensation (F2, F4); each DSU equals one share; payable on separation, death, disability or change in control (F5). The filer disclaims beneficial ownership except to extent of pecuniary interest; the filing system limitations are noted (F1).
- Nature of transaction: derivative award (deferred units), not an open‑market purchase or sale.
Context
DSUs are a form of deferred compensation — they provide future economic exposure to shares but do not represent immediately tradeable stock. Such awards are routine for directors and do not necessarily signal a near‑term buy or sell decision. Mesdag is a large/10% holder via multiple entities; this transaction reflects director compensation and deferred pay rather than an active market purchase.
Insider Transaction Report
- Award
Deferred Stock Units
[F2][F3][F4][F5]2026-05-04+58,373→ 700,804 totalExercise: $0.62→ Common Stock (58,373 underlying)
- 2,593,758
Common Stock, $0.01 par value
[F1]
Footnotes (5)
- [F1]The Reporting Person's ownership includes (i) 420,286 shares held by the Mesdag Family Limited Partnership, (ii) 97,529 shares held by the Mesdag Family Foundation, (iii), 44,746 shares held by the 2012 Mesdag Trust, (iv) 1,763,373 shares held by Red Mountain Capital Partners LLC, and (v) 267,824 shares held by Red Mountain Capital Management, Inc. The Reporting Person is the president, sole executive officer, sole director and sole shareholder of Red Mountain Capital Management, Inc. The Reporting Person disclaims beneficial ownership of the reported securities, except to the extent of his pecuniary interest therein. The filing system would not permit the filer to report his ownership as indirect.
- [F2]Deferred Stock Units (DSUs) issued pursuant to the Director's elected form of compensation for quarterly annual retainer and committee chairperson fee.
- [F3]The per share value is determined by the closing price of the Company's common stock on May 1, 2026.
- [F4]Each DSU is credited to the Reporting Person under the Company's Director Plan (the "Director Plan"). Each DSU represents ownership equivalent to one share of the Company's common stock.
- [F5]The DSUs credited under the Director Plan are payable in the form elected or provided under the Director Plan on the earlier of (i) the Reporting Person's date of separation of service, or (ii) upon death, disability or change in control as defined in the Director Plan.