Turner Mary's Acquisition of Dividend Equivalent Rights

On December 19, 2025, Mary Turner, EVP and President of Designer Brands Canada, acquired 776 dividend equivalent rights related to Class A Common Shares. These rights are economically equivalent to one share of the Issuer's Class A common stock and become exercisable proportionally with previously awarded restricted stock units (RSUs). The transaction, coded as 'A' for acquisition, had a price per share of 0.0000. Following this transaction, Turner holds 8098.0 dividend equivalent rights. The filing is a Form 4, indicating a change in beneficial ownership.