Amendment to Schedule 13D for Duluth Holdings Inc.
This filing is an amendment to a previously filed Schedule 13D, related to the Class B common stock of Duluth Holdings Inc. The amendment details changes in ownership and grant of shares to Stephanie L. Pugliese, the President and CEO. As of March 23, 2026, Ms. Pugliese holds 2,477,160 shares, representing 7.3% of the outstanding Class B common stock. This includes 730,159 shares granted on March 23, 2026, as part of her employment agreement and a restricted stock agreement. The filing also incorporates by reference several exhibits, including employment agreements and stock award agreements. Ms. Pugliese has sole voting power over her shares and sole dispositive power over 543,980 shares. The agreement outlines terms for restricted stock, including vesting schedules and forfeiture conditions upon termination of employment. It also details confidentiality obligations, non-competition clauses, and assignment of business ideas. The agreement specifies definitions for confidential information, trade secrets, restricted services, competitors, territory, restricted persons, and business ideas, and includes provisions for injunctive relief and governing law.