Form 4: Cava Group CFO Tricia K. Tolivar Sells Shares to Cover Tax Obligations

Tricia K. Tolivar, CFO of Cava Group, Inc., sold shares of common stock on January 27, 2025, to cover tax withholding obligations related to the vesting of restricted stock units.

Summary

• On January 27, 2025, Tricia K. Tolivar, the Chief Financial Officer of Cava Group, Inc., sold shares of the company's common stock.
• The sales were executed in multiple transactions at varying prices.
• These sales were mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a 'sell to cover' transaction and do not represent discretionary trades by the Reporting Person.
• A total of 331 shares were sold at $123.47, 843 shares were sold at $124.47, and 331 shares were sold at $125.12.
• Following these transactions, Tolivar directly owns 234,087 shares of Cava Group's common stock and indirectly owns 2,500 shares through a spouse.
• The reporting person disclaims beneficial ownership of such securities except to the extent of the reporting person's pecuniary interest therein.

Sentiment

Score: 5

Explanation: Neutral sentiment as the filing relates to routine stock sales for tax obligations, not indicative of the company's overall performance or future prospects.

Management Comments

• The sales reported on this Form 4 represent shares of Common Stock required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of restricted stock units ('RSUs').
• These sales are mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a 'sell to cover' transaction and do not represent discretionary trades by the Reporting Person.

Industry Context

This is a routine filing related to insider transactions, specifically the sale of shares to cover tax obligations, which is a common practice among executives receiving equity compensation.

Stakeholder Impact

• The stock sales may have a minor dilutive effect on existing shareholders, but the impact is likely minimal given the purpose of the sales.

Key Dates