SMITH WESSON BRANDS INC

Rule10b5-1 Trading Arrangement; Non-Rule 10b5-1 Trading Arrangement

During the three months ended April 30, 2025, none of our directors or officers adoptedor terminateda "non-Rule 10b5-1 trading arrangement" (as defined in Item 408 of Regulation S-K).

Amendment of Material Definitive Agreements

On June 18, 2025, the Compensation Committee of our Board of Directors approved an amendment and restatement of the Smith & Wesson Brands, Inc. Executive Severance Plan, the Amended and Restated Severance Plan. Among other things, the Amended and Restated Severance Plan: (i) increases the duration of the Change in Control Protection Period (as defined therein) from 12 months to 24 months; (ii) increases the period of base salary continuation in the case of a termination without Good Cause (as defined therein) or a resignation for Good Reason (as defined therein) from 26 weeks to 18 months; (iii) increases the period of base salary continuation in the case of a termination without Good Cause during a Potential Change in Control Protection Period (as defined therein) or Change in Control Protection Period (as defined therein) or a resignation upon an Adverse Change in Control Effect (as defined therein) from 52 weeks to 24 months; (iv) increases the annual cash bonus payable under the scenario described in (iii) above to two times target; (v) provides that the non-competition restriction period will apply for the period during which the individual receives cash severance; (vi) increases the duration of the application of the non-solicitation restriction from 12 months to 18 months; and (vii) includes other administrative changes.

On June 18, 2025, we entered into an Amended and Restated Employment Agreement with our President and Chief Executive Officer, Mark Smith. Among other things, the Amended and Restated Employment Agreement: (a) increases the duration of the protection period related to a Change in Control (as defined therein) from 12 months to 24 months; (b) increases the period of base salary continuation in the case of a Change in Control from 18 months to 24 months; (c) increases the annual cash bonus payable under the scenario described in (b) above to two times target; (d) increases the duration of the car allowance, medical coverage and COBRA coverage benefits under the scenario described in (b) above from 18 months to two years; and (e) includes other administrative changes.