LAU JOANNA T 4

What Happened
Joanna T. Lau, a director of Designer Brands, received a grant of 974 stock units on 2026-04-10. The units were granted at $0.00 and are reported as a derivative award (code A). These units represent contingent rights to receive one share of the company's Class A common stock each and include accrued dividend-equivalent rights; they vested on the grant date but will convert to actual shares only upon her termination of service on the board.

Key Details

• Transaction date: 2026-04-10; filing date: 2026-04-14 (timely filed within two business days).
• Transaction type/code: Award/Grant (A); 974 stock units granted at $0.00.
• Nature of award: Derivative stock units that convert to Class A common shares upon the insider’s termination of board service.
• Dividend equivalents: The units include accrued dividend-equivalent rights (per footnotes).
• Shares owned after transaction: Not specified in this filing.

Context
This was a non-cash director compensation award, not an open-market buy or sale. The units are vested but are not immediately issued as tradable shares; they convert to actual shares only when Lau leaves the board. Such grants are common for director compensation and do not, by themselves, indicate a buy/sell signal.