SCHOTTENSTEIN JAY L 4

What Happened
Jay L. Schottenstein, Executive Chairman & CEO of American Eagle Outfitters (AEO), had multiple derivative/RSU transactions on April 2, 2026. The filing shows a conversion/exercise of 79,361 derivative units (reported as $0 per share) and several related derivative settlement entries (3,307; 50,066; 25,988 shares). Separately, 31,610 shares were surrendered to satisfy tax liability at $16.84 per share, totaling $532,312.

Key Details

• Transaction date: April 2, 2026; Form 4 filed April 6, 2026 (filed within SEC timing rules).
• Reported transactions:
  • Exercise/conversion (code M): +79,361 shares @ $0.00 (acquired)
  • Payment of tax liability/withholding (code F): -31,610 shares @ $16.84 = $532,312 (disposed)
  • Additional exercise/conversion (code M) disposals: -3,307; -50,066; -25,988 shares @ $0.00 (these three disposals total 79,361)
• Shares owned after transaction: Not specified in the provided excerpt of the filing.
• Relevant footnotes:
  • F1: Some shares are held in family trusts where Mr. Schottenstein or spouse serve as trustee.
  • F2–F4: Transactions relate to restricted stock units (RSUs) and associated dividend equivalent rights; RSUs vest in three equal annual installments.
• Transaction codes: M = exercise/conversion of derivative; F = shares withheld/used to pay tax liability (net settlement/withholding, not an open-market sale).

Context
This appears to be the vesting/conversion and settlement of RSUs and related dividend-equivalent rights, with a portion of shares withheld to cover tax obligations (common "net settlement" or withholding). Withholdings to cover taxes are routine and do not necessarily indicate a directional view on the stock.