LAU JOANNA T 4

What Happened
Joanna T. Lau, a director of Designer Brands, received a grant of 26,527 stock units on 2026-06-17. The units were issued at $0.00 (no cash paid) as a derivative award; the reported acquisition value is $0. According to the filing, each stock unit is a contingent right to one share of the company’s Class A common stock, and the units will convert to shares upon Lau’s termination of board service.

Key Details

• Transaction type: Award/Grant (code A) of derivative stock units.
• Date of transaction: 2026-06-17; Form 4 filed 2026-06-22.
• Quantity and price: 26,527 stock units @ $0.00; reported acquisition value $0.
• Shares owned after transaction: Not specified in this filing.
• Notable footnotes:
  • F1: Each stock unit equals a contingent right to one Class A share.
  • F2: Units vested on grant date and convert to shares when the director leaves the board.
  • F3: Total includes units from a special dividend and accrued dividend equivalent rights.
• Filing timeliness: Filing date is shown as 2026-06-22 for a 2026-06-17 grant (check the filing for any explanatory notes).

Context
This was a compensation-style award to a board director, not an open-market purchase or sale. Because the units are contingent and convert to actual shares only upon her departure from the board, they are different from immediately tradable shares. Such grants are common for non-employee directors and should be viewed as routine compensation rather than a direct bullish or bearish trade signal.