WEYCO GROUP INC

Other than the following risk factor, there have been no material developments with respect to the information previously reported under Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024.

Our business is subject to risks arising from tariffs and other trade measures imposed by the U.S. and other countries, which could materially increase our costs and adversely affect our financial performance.

In 2025, the U.S. government announced its intention to impose additional tariffs (“incremental tariffs”) on certain goods imported from various countries. In response, several nations, including China, enacted retaliatory tariffs and other trade-related measures. A substantial portion of our products are imported into the U.S. from China, India, and other Asian countries, and these trade actions have had a direct impact on our operations.

The incremental tariffs have increased our product costs, resulting in higher prices and lower gross margins. Ongoing uncertainty regarding future tariff rates and trade policies may further increase our costs and adversely affect our profitability. In addition, higher product pricing may reduce consumer demand, negatively impacting our sales volume and overall financial performance.

We are actively monitoring the evolving trade environment and evaluating strategies to mitigate the impact of these tariffs, including assessing alternative sourcing options, negotiating with suppliers, and adjusting our pricing strategies. However, there can be no assurance that these efforts will be successful or sufficient to offset the adverse effects of current or future trade actions. Continued or additional tariffs and retaliatory measures could materially and adversely affect our business, financial condition, and results of operations.

In 1998, our stock repurchase program was established and approved by the Board of Directors. On several occasions since the program’s inception, our Board of Directors increased the number of shares authorized for repurchase under the program. In total, 8.5 million shares have been authorized for repurchase. The table below presents information regarding the repurchases of our common stock in the three-month period ended September 30, 2025.