Form 4: Boot Barn Executive John Hazen Reports Stock Transactions Following PSU Vesting

Chief Digital Officer John Hazen reports acquisition of shares through performance share unit vesting and subsequent withholding for taxes.

Summary

• On April 22, 2024, John Hazen, Chief Digital Officer of Boot Barn Holdings, Inc., acquired 5,554 shares of common stock through the vesting of performance share units (PSUs) granted on May 14, 2021, under the company's 2020 Equity Incentive Plan.
• The shares were acquired at a price of $0.
• On the same day, 1,991 shares were withheld by the issuer to satisfy tax obligations related to the PSU vesting, at a price of $103.18 per share.
• Following these transactions, Hazen directly owns 3,563 shares of common stock and 12,403 shares of common stock underlying restricted stock units subject to time-based vesting.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It reflects routine transactions related to executive compensation. The vesting of PSUs suggests performance targets were met, which is mildly positive, but the tax withholding is a standard procedure.

Positives

• The vesting of performance share units indicates that performance measures were met, which could be seen as a positive signal.

Negatives

• The withholding of shares to cover taxes reduces the number of shares the executive ultimately receives.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard compensation practices involving equity-based awards.

Stakeholder Impact

• The transactions have a minor impact on shareholders, reflecting standard executive compensation practices.

Key Dates