Cobb Peter 4

What Happened

• Peter Cobb, a member of the Designer Brands (DBI) board of directors, received an award of 1,434 stock units on April 10, 2026. The units were granted at $0.00 per unit (no cash paid) and are reported as derivative securities with a reported total value of $0 at grant.
• These stock units are contingent rights that will convert to an equal number of Class A common shares under the conditions described below; the grant vested on the date of award.

Key Details

• Transaction date: 2026-04-10; Form 4 filed: 2026-04-14.
• Grant: 1,434 stock units at $0.00 (derivative award).
• Shares owned after transaction: not specified in the filing.
• Footnotes:
  • Each unit represents a contingent right to receive one share of the issuer’s Class A common stock.
  • Units include accrued dividend equivalent rights.
  • The units vested at grant and will convert to shares upon Cobb’s termination of service on the Board.
  • Total reported includes accrued dividend equivalents.
• Filing timing: The Form 4 was filed four days after the grant date. Form 4s are typically due within two business days of the transaction; this filing appears later than that usual window.

Context

• This was an equity award (compensation/retainer), not an open-market purchase or sale, so it reflects a grant to the director rather than a market transaction expressing a trading view. The award vests immediately but only converts into shares upon the director’s termination of service, meaning no immediate share delivery or sale occurred.