• Dillard’s entered into a merger agreement under which family holding company W.D. Company will merge into Dillard’s, with Dillard’s surviving.
• W.D. Company holds 41,496 shares of Dillard’s Class A stock and 3,985,776 shares of Dillard’s Class B stock.
• At closing, W.D. Company shares will be cancelled and its shareholders will receive a pro rata distribution of up to 41,496 Class A shares and up to 3,985,776 Class B shares, plus cash equal to W.D. Company’s cash and cash equivalents and the value of a de minimis public-stock position.
• The Dillard’s shares held by W.D. Company will become treasury stock at the effective time and then be cancelled.
• Completion conditions include shareholder approvals and appraisal-related limits of 1% for W.D. Company shares and 1% for Dillard’s Class B shares.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Dillard's Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-26-032749), on March 20, 2026, and is solely responsible for the information contained therein.