Form 4: Chefs' Warehouse Vice Chairman John Pappas Reports Stock Transactions

John Pappas, Vice Chairman and COO of Chefs' Warehouse, reports acquisition and disposal of company stock related to vesting of restricted stock.

Summary

• John Pappas, Vice Chairman and COO of Chefs' Warehouse, filed a Form 4 detailing changes in beneficial ownership.
• On February 27, 2024, Pappas acquired 26,263 shares of common stock upon certification of performance conditions related to performance-based restricted common stock awarded under the company's 2019 Omnibus Equity Incentive Plan.
• Also on February 27, 2024, 23,808 shares were withheld to cover taxes upon the vesting of performance-based restricted common stock at a price of $37.78.
• On February 28, 2024, 2,414 shares were withheld upon the vesting of restricted common stock at a price of $37.35.
• Following these transactions, Pappas directly owns 817,364 shares of common stock.
• Pappas also indirectly owns 400,000 shares through a single member LLC, where he is the sole member, trustee, and annuity beneficiary of a grantor retained annuity trust.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment.

Industry Context

This filing is a routine disclosure of insider transactions, which are common for executives receiving stock-based compensation. It provides transparency into the trading activities of company insiders.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they primarily reflect the vesting of previously awarded compensation.

Key Dates