Designer Brands Inc. — Director's Dealing 2020

May 4, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Designer Brands Inc. (DBI)
CIK: 0001319947
Period of Report: 2020-05-01

Reporting Person: Love Michele (EVP Chief Commercial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-05-01	Class A Common Shares	M	19873.0000	$0.0000	Acquired	19973.0000	Direct
2020-05-01	Class A Common Shares	F	6033.0000	$6.3500	Disposed	13940.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-05-01	Dividend Equivalent Rights	$	M	2070.0000	Disposed		Class A Common Shares (2070.0000)	Direct
2020-05-01	Restricted Stock Unit	$	M	17803.0000	Disposed	2020-05-01	Class A Common Shares (17803.0000)	Direct

Footnotes

F1: The dividend equivalent rights accrued on previously awarded restricted stock units (RSUs) and become exercisable proportionately with the RSUs to which they relate. Each dividend equivalent right is the economic equivalent of one share of Issuer's Class A common stock.

F2: Each restricted stock unit represents a contingent right to receive one share of Issuer's Class A common stock.