Form 4: Chefs' Warehouse Director Katherine Oliver Receives Stock Grant

Katherine Oliver, a director at Chefs' Warehouse, Inc., was granted 3,506 restricted stock units convertible into common stock.

Summary

• On May 10, 2024, Katherine Oliver, a director of Chefs' Warehouse, Inc., received a grant of 3,506 time-vested restricted stock units.
• These units are convertible into an equal number of shares of the company's common stock.
• The grant was made under the Chefs' Warehouse, Inc. Amended and Restated 2019 Omnibus Equity Incentive Plan.
• The restricted stock units will vest at the earlier of the company's 2025 annual stockholders' meeting or one year from the grant date.
• Following the transaction, Oliver beneficially owns 40,943 shares of common stock.

Sentiment

Score: 7

Explanation: The document reflects a standard transaction (stock grant) and doesn't contain overtly positive or negative information. It's a neutral event with a slightly positive implication due to aligning director interests with shareholders.

Positives

• The grant of restricted stock units aligns the director's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the director.

Future Outlook

The document does not contain specific forward-looking statements regarding the company's financial performance or future prospects.

Industry Context

Stock grants to directors are a common practice in publicly traded companies to incentivize performance and align interests with shareholders. The specific terms of the grant, such as the vesting schedule, are typical for such arrangements.

Comparison to Industry Standards

• Stock grants to board members are a common practice across the industry.
• Companies like Sysco and US Foods also use equity-based compensation to align the interests of their directors with those of shareholders.
• The size of the grant is typical for a company of Chefs' Warehouse's size and market capitalization.

Stakeholder Impact

• The stock grant could have a slightly positive impact on shareholders by aligning the director's interests with theirs.
• There is no immediate impact on employees, customers, suppliers, or creditors.

Key Dates