La-Z-Boy Director Janet Kerr Sells 3,653 Shares for $116,000
Key Points
The transaction involved 3,653 shares with a total value of approximately $116,000 based on the weighted average execution price.
The volume of shares traded represented 47% of the equity holdings held directly by the insider prior to the transaction.
The shares were sold directly by the insider via a Rule 10b5-1 trading plan established on March 12, 2026.
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Director Janet Kerr sold 3,653 shares of La-Z-Boy Incorporated (NYSE:LZB) on Sept. 8, 2026, according to a recent SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Transaction value | ~$116,000 |
| Shares sold | 3,653 |
| Post-transaction shares (directly held) | 4,125 |
| Post-transaction value | $130,638.75 |
Transaction value based on SEC Form 4 weighted average sale price ($31.75); post-transaction value based on September 08, 2026, market close ($31.67).
Key questions
- What was the structural framework for this transaction?
The sale was conducted under a Rule 10b5-1 trading plan, which Janet Kerr adopted on March 12, 2026. These plans allow corporate insiders to set a predetermined schedule for selling stock to avoid concerns about possessing non-public information. - How does the execution price compare to recent market valuation?
The shares were sold at a weighted average price of $31.7545 per share, slightly above the $31.67 market close on the day of the transaction. The stock was priced at $31.37 as of the Sept. 9, 2026, market close, representing a minor decrease from the execution level. - What is the insider's remaining direct equity exposure?
After completing the sale of 3,653 shares, the director retains direct ownership of 4,125 shares. This remaining position represents an estimated 0.0103% of the company's total shares outstanding. - What is the company's current operational footprint?
La-Z-Boy Incorporated is a furniture company engaged in the manufacturing, distribution, and retail sales of upholstered furniture and case goods. The company, which has been headquartered in Monroe since its founding in 1927, currently employs approximately 10,200 people and maintains a market capitalization of $1.25 billion.
Company Overview
| Metric | Value |
|---|---|
| Share Price (as of market close 2026-09-09) | $31.37 |
| Market Capitalization | $1.3 billion |
| Revenue (TTM) | $2.1 billion |
| Net Income (TTM) | $82.6 million |
Company Snapshot
- La-Z-Boy manufactures, markets, and distributes upholstered furniture, case goods, and complementary accessories across the United States, Canada, and international markets, generating revenue through both wholesale distribution and direct retail channels.
- The company operates a vertically integrated business model encompassing design, manufacturing, importing, exporting, and retail operations, enabling control over product quality and direct consumer engagement through its owned retail locations.
- La-Z-Boy serves residential consumers and commercial clients seeking upholstered furniture solutions, with primary distribution through independent furniture retailers, company-owned stores, and e-commerce platforms, targeting middle- to upper-middle-income households.
La-Z-Boy is a leading furniture manufacturer with approximately 10,200 employees and a market capitalization of $1.3 billion, generating $2.1 billion in TTM revenue.
Founded in 1927 and headquartered in Monroe, Michigan, the company maintains a diversified distribution strategy that combines wholesale partnerships with direct-to-consumer retail operations, positioning it as a prominent player in the North American upholstered furniture market.
What this transaction means for investors
The sale represented nearly half of the insider's stake in the company's stock. That's a large amount, but the sale shouldn't concern investors as it was executed under a Rule 10b5-1 plan. This plan was adopted in March, before the stock's recent dip.
The last few years have not been the best operating environment for companies selling home goods. Higher interest rates have pressured the housing market, negatively impacting demand for furniture makers.
La-Z-Boy reported mixed results between its retail and wholesale operations for the fiscal first quarter of 2027. It's a very choppy environment that may not show meaningful improvement in sales until interest rates come down and the housing market recovers.
Long term, analysts are bullish on the company's earnings growth prospects. The consensus has earnings growing at an annualized rate of 11%.
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John Ballard has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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