Duluth Holdings grants 1.76M inducement shares to new CEO Stephanie Pugliese

DULUTH HOLDINGS INC.

Stephanie L. Pugliese appointed President and CEO effective May 5, 2025.
Total inducement grant of 1,759,532 Class B common shares, including 586,511 stock award shares.
Restricted stock tranche of 1,173,021 shares vests over 3 years: 33% on May 5, 2026, 33% on May 5, 2027, 34% on May 5, 2028.
If Pugliese leaves without good reason or is fired for cause before May 5, 2026, she must reimburse pro rata portion of the 586,511 shares.
Unvested shares accelerate upon death, disability, termination without cause, or resignation for good reason.

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