Form 4: BJ's Restaurants Executive Sells Shares to Cover Tax Obligations

A BJ's Restaurants executive, Shin Putnam, sold 1,617 shares of common stock to cover tax obligations related to vesting of restricted stock units.

Summary

• Shin Putnam, Chief Growth & Innovation Officer at BJ's Restaurants, Inc., sold 1,617 shares of common stock on December 15, 2024.
• The sale was executed to satisfy minimum statutory withholding requirements on the vesting of restricted stock units.
• The shares were sold at a price of $35.88 per share.
• Following the transaction, Putnam beneficially owns 15,987 shares of common stock, which includes 9,708 unvested restricted stock units.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction related to executive compensation and does not indicate any positive or negative sentiment.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax liabilities when restricted stock units vest.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across publicly traded companies.
• The number of shares sold is relatively small compared to the total holdings of the executive, which is typical for these types of transactions.
• Similar transactions are regularly reported by executives at other restaurant chains and public companies.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.

Key Dates

Keywords

Form 4, BJ's Restaurants, Insider Trading, Stock Sale, Restricted Stock Units, Shin Putnam, Executive Compensation