Whittington Melinda D 4

What Happened

• Melinda D. Whittington, President & CEO and director of La‑Z‑Boy (LZB), exercised stock options and sold shares on June 22–23, 2026. She exercised a total of 34,003 option shares (26,639 on 6/22 and 7,364 on 6/23) at a strike of $33.15, paying roughly $1.13M in exercise cost. Those exercised shares were sold in the open market at about $40.00–$40.24 per share (gross proceeds ≈ $1.37M).
• In addition, the filing shows several share dispositions to cover exercise price/tax withholding (total ~27,194 shares) at $39.99 (≈ $1.09M). Combined disposals reported on the Form 4 total approximately $2.45M in proceeds.
• The filing also reports multiple awards/grants (totaling 126,217 shares) listed as acquisitions at $0.00 (likely restricted stock/RSUs granted under the company plan).

Key Details

• Transaction dates: June 22–23, 2026. Filing date: June 24, 2026 (timely).
• Option exercise: 34,003 shares exercised at $33.15; cash paid ≈ $1.127M.
• Open‑market sales: 26,639 shares at a weighted avg ~$40.24 ($1,071,921) and 7,364 shares at $40.00 ($294,561) — total ≈ $1.37M.
• Shares surrendered for tax/exercise payment: 27,194 shares at $39.99 totaling ≈ $1.09M.
• Gross proceeds from all reported disposals ≈ $2.45M.
• Footnotes: some sales were effected under a Rule 10b5‑1 trading plan (footnote F1). Two sales use weighted‑average prices with ranges $40.00–$40.85 and $40.00–$40.005 (footnotes F2, F3). Awards/options granted under the La‑Z‑Boy 2017 Omnibus Incentive Plan with multi‑year vesting (F4).
• Shares owned after the transactions are not specified in the supplied summary—see the full Form 4 for post‑transaction holdings.

Context

• This was effectively a cashless exercise: options were exercised and the resulting shares were sold (open market sales) and/or withheld to cover taxes/exercise costs. That pattern is common for option exercises and tax withholding and does not by itself indicate a change in insider sentiment.
• Some sales were executed under a pre‑arranged 10b5‑1 plan, which generally means the trades were scheduled in advance and not necessarily timed to recent company news.
• For retail investors: exercises followed by immediate sales are routine liquidity events for executives. Purchases are typically more informative about bullish insider conviction; this filing primarily shows option exercise plus sales/withholding.