Baldwin Marisa 4

What Happened

• Marisa Baldwin, EVP and Chief Human Resources Officer of American Eagle Outfitters (AEO), was awarded 133 dividend-equivalent rights tied to previously granted restricted stock units (RSUs) on January 23, 2026. The reported acquisition price is $0.00 because these are awards (transaction code A) rather than an open-market purchase.
• These dividend-equivalent rights are derivatives that represent the economic equivalent of one share each and will vest proportionately with the underlying RSUs; they do not represent immediately transferable common shares.

Key Details

• Transaction date: 2026-01-23 (Form 4 filed 2026-01-27 — within the two business-day filing window).
• Transaction type/code: Award (A); 133 dividend-equivalent rights; reported price $0.00.
• Shares owned after transaction: Not specified in the filing.
• Footnote: The dividend equivalents accrue on previously awarded RSUs and vest proportionately with those RSUs; each dividend equivalent equals the economic value of one AEO common share.
• No sale or purchase of stock occurred — this is a compensation/award event (no immediate cash change).

Context

• Dividend-equivalent rights are a common form of executive compensation that mirror dividends on RSUs and generally convert into shares or cash upon vesting; they are not the same as an open-market buy (which some investors view as a stronger bullish signal).
• Because this is an award tied to existing RSUs, it reflects compensation mechanics rather than an insider buy or sell decision.