Turner Mary 4

What Happened

• Mary Turner, EVP and President of Designer Brands Canada, exercised/converted derivative awards into a total of 34,394 shares on March 23, 2026. To satisfy tax withholding, 9,206 of those shares were surrendered at $5.40 per share for $49,712. Net shares delivered to Turner after withholding were about 25,188.

Key Details

• Transaction date: March 23, 2026; filing date: March 25, 2026 (filed within two days).
• Breakdown of activity reported:
  • 17,197 shares acquired via exercise/conversion of derivative securities (code M) at $0.00 per share.
  • 1,792 shares and 15,405 shares also reported as exercise/conversion of derivatives (codes M) with $0.00 reported cash amounts.
  • 9,206 shares disposed to pay tax liability (code F) at $5.40 per share, totaling $49,712.
• Shares owned after the transaction: not specified in the filing.
• Footnotes: F1 notes dividend equivalent rights accrued on RSUs convert proportionately to shares; F2 confirms each RSU is a contingent right to one share.
• Transaction codes explained: M = exercise/conversion of a derivative security; F = shares surrendered/withheld to cover tax withholding.

Context

• This appears to be a routine conversion/settlement of restricted stock units and related dividend equivalents, with shares withheld to satisfy tax obligations (a common practice that does not necessarily indicate insider sentiment).
• The filing shows a cashless/net settlement for tax withholding rather than an open-market sale.