Designer Brands reclassifies directors to align CEO Howe's term with 2023 annual meeting

Designer Brands Inc.

Tami Fersko and Doug Howe resigned and were re-elected to switch director classes; Howe now Class I, term expires at 2023 annual meeting.
Non-employee director compensation increased: annual Board retainer to $90k (from $75k), equity grant to $150k (from $140k), chair retainers +$5k.
Howe as CEO receives no additional director compensation; Fersko continues on Audit and Nominating committees.
Board remains divided as evenly as possible among three classes following the reclassification.

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