Form 4: CarParts.com CFO Ryan Lockwood Reports RSU Vesting and Tax-Related Stock Sale

CarParts.com's Chief Financial Officer, Ryan Lockwood, reported the vesting of 18,750 Restricted Stock Units and a subsequent sale of 6,709 shares to cover tax obligations.

Summary

• Ryan Lockwood, Chief Financial Officer of CarParts.com, Inc. (PRTS), acquired 18,750 shares of common stock on July 16, 2025, through the vesting of Restricted Stock Units (RSUs).
• These RSUs were granted on January 16, 2024, under the company's 2016 Equity Incentive Plan, with vesting occurring in installments.
• Following the RSU vesting, Lockwood's direct beneficial ownership of common stock increased to 202,850 shares.
• On July 17, 2025, 6,709 shares of common stock were disposed of at a price of $0.81 per share to satisfy tax withholding obligations related to the RSU vesting.
• After the tax-related disposition, Lockwood's direct beneficial ownership of common stock is 196,141 shares.
• Lockwood still beneficially owns 37,500 Restricted Stock Units.

Sentiment

Score: 5

Explanation: The filing reports routine insider transactions related to equity compensation, which are neutral in sentiment as they represent expected events under an existing incentive plan.

Positives

• The vesting of Restricted Stock Units indicates the fulfillment of equity compensation plans for the Chief Financial Officer, aligning management's interests with shareholders.

Negatives

• A portion of the vested shares (6,709 shares) was sold to cover tax withholding obligations, which is a common practice but reduces the direct shareholding of the officer.

Future Outlook

NA

Industry Context

This Form 4 filing details a routine insider transaction related to equity compensation, which is a standard practice across various industries to incentivize and retain key executives. It does not provide broader industry trends or competitive insights.

Comparison to Industry Standards

• The reported RSU vesting and subsequent tax-related share disposition are standard practices for executive compensation in publicly traded companies, aligning with common industry benchmarks for equity incentive plans. No specific comparable companies or projects are mentioned in this filing.

Related Party Transactions

• The reported transactions involve the Chief Financial Officer and the company, which are considered related party dealings under equity compensation plans.

Stakeholder Impact

• Shareholders: The vesting of RSUs aligns the interests of the CFO with shareholders, while the tax-related sale is a common practice that slightly reduces the officer's direct holdings.
• Employees: The filing highlights the company's use of equity incentive plans, which can be a positive for employee retention and motivation, particularly for key personnel.

Next Steps

• Remaining Restricted Stock Units are expected to vest in equal quarterly installments through the second anniversary of the grant date (January 16, 2026), subject to Ryan Lockwood's continued service to the company.

Key Dates

Keywords

CarParts.com, PRTS, Ryan Lockwood, SEC Form 4, Insider Trading, Restricted Stock Units, RSU Vesting, Stock Sale, Tax Withholding, Equity Compensation, Chief Financial Officer