Form 4: Costco SVP Gifts Shares to Family Trust

Costco's Senior Executive Vice President, Russell D. Miller, transferred 2,918 shares of common stock to the Miller Family Trust.

Summary

• Russell D. Miller, Sr. Executive Vice President of Costco Wholesale Corp, reported a change in beneficial ownership.
• On September 23, 2025, Miller gifted 2,918 shares of Costco common stock.
• The shares were transferred from his direct ownership to indirect ownership through the Miller Family Trust.
• The transaction was executed at a price of $0 per share, consistent with a gift.
• Following the transaction, Miller directly owns 1.925 shares and indirectly owns 13,120 shares via the Miller Family Trust.
• The transaction was made pursuant to a Rule 10b5-1(c) plan.

Sentiment

Score: 5

Explanation: The transaction represents a transfer of shares within the insider's beneficial ownership (to a family trust) and is not indicative of a change in confidence or operational performance. It is a neutral event from an investment perspective.

Positives

• The transaction was conducted under a Rule 10b5-1(c) plan, indicating pre-planned stock transactions and potentially reducing concerns about opportunistic trading.
• Shares remain within the beneficial ownership of the insider's family, indicating continued alignment of interests with the company's performance.

Future Outlook

NA

Industry Context

This Form 4 filing reports an individual insider transaction and does not provide information relevant to broader industry trends or competitor analysis.

Related Party Transactions

• Transfer of 2,918 shares of common stock from Russell D. Miller's direct ownership to the Miller Family Trust.

Stakeholder Impact

• Shareholders: No direct impact on company operations or valuation. The shares remain beneficially owned by the insider's family.
• Employees, Customers, Suppliers, Creditors: No direct impact.

Key Dates

Recommendation

This Form 4 reports a gift of shares from an executive to a family trust, a non-market transaction that does not reflect a change in the company's operational performance, financial health, or the executive's confidence in the company. It is primarily an estate planning event. Therefore, it provides no new information to alter an existing investment thesis, warranting a 'hold' recommendation.

Keywords

Costco, COST, insider transaction, Form 4, stock gift, executive ownership, Russell D. Miller, 10b5-1 plan