McLean Andrew J. 4
4 · LANDS' END, INC. · Filed Mar 25, 2026
Research Summary
AI-generated summary of this filing
Lands' End CEO Andrew McLean Receives RSU Award, Converts Shares
What Happened
Andrew J. McLean, CEO of Lands' End, received a grant of 125,103 restricted stock units (RSUs) reported for the period ending 2026-03-23. On 2026-03-24, 26,984 of those RSUs were converted/exercised into shares (recorded as derivative exercise at $0 exercise price). To satisfy tax withholding on the vesting/conversion, 12,683 shares were withheld by the issuer at $12.56 per share, generating $159,298 in withholding value. The RSU grant itself carries no immediate cash cost to the executive (exercise price $0) — it is an award that converts to shares subject to vesting conditions.
Key Details
- Transaction dates: grant reported 2026-03-23; conversion/exercise and withholding recorded 2026-03-24; Form 4 filed 2026-03-25 (appears timely).
- Share counts and prices: 125,103 RSUs granted (A); 26,984 RSUs converted/exercised (M) at $0 exercise price; 12,683 shares withheld for taxes (F) at $12.56/share = $159,298.
- Shares owned after transaction: not specified in the provided filing summary.
- Relevant footnotes:
- F1: Each RSU entitles the holder to one share upon satisfaction of vesting conditions.
- F2: Shares withheld by the issuer to satisfy the reporting person's tax withholding obligation.
- F3–F5: The RSUs vest in multiple time-based tranches (various dates in 2026–2029); specific tranche amounts and vesting dates are detailed in the filing (e.g., 73,770 RSUs vest 6/14/2026; others vest 4/1/2026, 3/24/2027, 3/23/2027–3/23/2029, etc.), all subject to continued service.
- Transaction codes in the filing: A = award/grant, M = exercise/conversion of a derivative, F = tax withholding.
Context
RSU grants are compensation awards (not open-market purchases) and are common for executives; they become shares only after vesting conditions are met. The withholding of 12,683 shares to cover taxes is a routine settlement step and not the same as an open-market sale. No evidence in this filing of voluntary share sales by McLean beyond the withholding to satisfy tax obligations.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-03-24+26,984→ 235,320 total - Tax Payment
Common Stock
[F2]2026-03-24$12.56/sh−12,683$159,298→ 222,637 total - Award
Restricted Stock Units
[F1][F3]2026-03-23+125,103→ 373,655 totalExercise: $0.00→ Common Stock (125,103 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F4][F5]2026-03-24−26,984→ 346,671 totalExercise: $0.00→ Common Stock (26,984 underlying)
Footnotes (5)
- [F1]Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of common stock upon satisfaction of the vesting conditions.
- [F2]Shares withheld by the issuer to satisfy reporting person's tax withholding obligation incurred in connection with the vesting of RSUs.
- [F3]These are time-based RSUs that will vest, subject to satisfaction of vesting conditions including a continuous business relationship, in three annual installments on March 23, 2027 (25%), March 23, 2028 (25%) and March 23, 2029 (50%).
- [F4]This RSU award was granted on March 24, 2025, with vesting in three installments on March 24, 2026 (25%), March 24, 2027 (25%) and March 24, 2028 (50%).
- [F5]Of the total number of RSUs, 73,770 RSUs will vest on June 14, 2026; 22,281 RSUs will vest on April 1, 2026 and 44,562 RSUs will vest on April 1, 2027; 26,985 will vest on March 24, 2027 and 53,970 will vest on March 24, 2028; and 31,275 will vest on March 23, 2027, 31,276 will vest on March 23, 2028 and 62,552 will vest on March 23, 2029; subject in each case to the satisfaction of vesting conditions, including maintaining a continuous business relationship.