Schlecht Richard W 4

What Happened Richard W. Schlecht, Senior Vice President of Product Development & Sourcing at Duluth Holdings (DLTH), was granted 71,195 shares of restricted stock on March 23, 2026 under the company's 2024 Equity Incentive Plan. The award is an acquisition (grant) of restricted stock — no cash price was paid (reported as N/A) and these shares are subject to vesting.

Key Details

• Transaction date: 2026-03-23; Form filed: 2026-03-25 (timely, within two business days).
• Shares granted: 71,195 restricted shares; price: N/A (award).
• Vesting: Shares vest in three equal installments commencing March 23, 2027 (per filing).
• Holding: The filing notes these shares are held for the reporting person’s children in UTMA custodial accounts.
• Shares owned after transaction: not disclosed in the filing.
• Transaction code: "A" (award/grant of restricted stock).

Context Restricted stock awards are typically used for retention and compensation; they are not immediately liquid until they vest. Because these are grants (not open-market purchases or sales), they reflect company compensation rather than a direct personal buy/sell decision. The filing appears timely and does not indicate a sale, option exercise, or tax-withholding disposition.