Form 4: ARKO Director Andrew Heyer Acquires 7,675 RSUs

ARKO Corp. Director Andrew Heyer reported the acquisition of 7,675 Restricted Stock Units, increasing his beneficial ownership to 154,505 derivative securities.

Summary

• Andrew R. Heyer, a Director of ARKO Corp., acquired 7,675 Restricted Stock Units (RSUs) on October 1, 2025.
• The RSUs provide the right to receive one share of ARKO common stock, with a par value of $0.0001 per share, on a one-for-one basis.
• The RSUs were granted at a price of $0, indicating they are part of compensation.
• Following this transaction, Andrew R. Heyer beneficially owns a total of 154,505 derivative securities.
• The RSUs are immediately vested.
• The right to receive common stock from these RSUs will occur upon the earlier of (i) the termination of Mr. Heyer's service with ARKO Corp. or (ii) a change of control of the Company.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive as a director's acquisition of equity, even through a grant, generally indicates alignment with shareholder interests. It is a routine compensation event, not a significant market signal.

Positives

• The acquisition of Restricted Stock Units by a director aligns management's interests with those of shareholders, as the value of the compensation is tied to the company's stock performance.
• The immediate vesting of the RSUs provides certainty regarding the director's equity stake.

Future Outlook

The Restricted Stock Units are immediately vested and will convert into common stock upon the earlier of the reporting person's service termination or a change of control of ARKO Corp.

Industry Context

The grant of Restricted Stock Units to a director is a common practice in corporate compensation, aiming to incentivize long-term performance and align leadership interests with shareholder value creation.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) as a component of director compensation is a standard practice across various industries, including retail and convenience store sectors where ARKO Corp. operates.
• Immediate vesting, while less common than time-based vesting for employee grants, can be observed in director compensation structures to acknowledge their non-executive roles and board responsibilities.

Stakeholder Impact

• Shareholders: The grant of RSUs to a director can be viewed positively as it aligns the director's financial interests with the long-term performance of the company's stock, potentially fostering better governance and strategic decisions.

Next Steps

• The Restricted Stock Units will convert into common stock upon the earlier of Andrew R. Heyer's service termination or a change of control of ARKO Corp.

Key Dates

Recommendation

This Form 4 reports a routine grant of Restricted Stock Units to a director as part of their compensation. While it increases the director's beneficial ownership, it does not represent an open market purchase or sale that would typically signal a strong investment decision. It's a standard compensation event, thus a 'hold' recommendation is appropriate as it doesn't fundamentally alter the investment thesis.

Keywords

ARKO, Form 4, insider transaction, Restricted Stock Units, RSU, director compensation, equity grant, beneficial ownership