TANENBAUM ALLAN J 4

What Happened
Allan J. Tanenbaum, a director of Designer Brands, was granted 2,811 stock units on 2026-07-08 (reported on Form 4 filed 2026-07-10). The filing lists the transaction as an award/grant (code A) at $0.00 — these are derivative stock units, not an open-market purchase. According to the filing, each stock unit is a contingent right to receive one share of the issuer’s Class A common stock and the units become vested upon grant but will be converted into actual shares only upon the insider’s termination of board service.

Key Details

• Transaction date: 2026-07-08; Form 4 filed: 2026-07-10 (timely filing).
• Transaction type/code: Award/Grant (A) of 2,811 stock units at $0.00 (derivative).
• Footnotes of note:
  • F1: Each stock unit = contingent right to one Class A share.
  • F2: Some shares represent dividend equivalent rights accrued on prior awards.
  • F3: Units vest at grant but will convert to shares when Tanenbaum leaves the Board.
  • F4: Total reported includes accrued dividend equivalents.
• Shares owned after the transaction: not specified in the summary data; see the full Form 4 for ownership totals.
• This was an award (compensation), not a purchase or sale.

Context
These stock units are a form of director compensation and are recorded as derivative awards. Although reported at $0 on grant, their eventual monetary value will depend on Designer Brands’ share price at the time the units convert to actual shares. Awards like this are routine for directors and do not by themselves indicate buying or selling sentiment.