SCHOTTENSTEIN JAY L 4

What Happened
Jay L. Schottenstein, a 10% owner of Designer Brands, was granted 506,755 restricted stock units (RSUs) on 2026-04-02. The Form 4 reports this as an award/acquisition (code A) of a derivative interest at $0.00 per unit (no cash exchanged). Each RSU is a contingent right to one share of the company’s Class A common stock (see footnote F1). This was a compensation-type award, not an open-market purchase or sale.

Key Details

• Transaction date: 2026-04-02; filing date: 2026-04-06 (Form accession 0001225208-26-004418).
• Transaction type/code: Award/Grant (A) of 506,755 RSUs; reported price $0.00 (derivative).
• Shares owned after transaction: Not specified in the provided filing details.
• Footnote: F1 — each restricted stock unit represents a contingent right to receive one share of Class A common stock.
• No 10b5-1 plan, tax withholding, or late-filing flag was indicated in the provided data.

Context
RSUs are a form of equity compensation that typically vest over time or upon achievement of conditions; they do not represent immediate transferable shares until vested and settled. As a 10% owner, Schottenstein is a substantial holder; this award is likely part of compensation or ownership arrangements rather than an open-market investment signal. Retail investors should view grants as corporate compensation actions rather than direct buying or selling activity.