SCHOTTENSTEIN JAY L 4

What Happened

• Jay L. Schottenstein, a 10% owner of Designer Brands, received a grant of 15,165 dividend-equivalent rights related to previously awarded restricted stock units (RSUs) on July 8, 2026. The reported acquisition price is $0.00 because these are derivative dividend-equivalent rights rather than an open-market purchase.
• This transaction is recorded as an award/grant (code A) and does not reflect a cash purchase or sale of shares.

Key Details

• Transaction date: 2026-07-08; Form 4 filed: 2026-07-10 (appears timely).
• Instrument/amount: 15,165 dividend-equivalent rights; reported price per unit: $0.00.
• Transaction type: Award/derivative (not a direct buy or sale).
• Shares owned after transaction: Not specified in the provided filing extract.
• Footnote: The dividend-equivalent rights accrue on previously awarded RSUs and become exercisable proportionately with those RSUs; each right is the economic equivalent of one share (see footnote F1).

Context

• Dividend-equivalent rights are a derivative award that mirror the economic value of shares tied to RSUs; they typically convert or become exercisable alongside the underlying RSUs rather than representing an immediate open-market position.
• As a 10% owner, Schottenstein is a large shareholder; such awards are often part of company compensation or distribution practices and should not be read as a straightforward buy/sell signal by retail investors.