Form 4: Grocery Outlet Director Eric J. Lindberg Jr. Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Director Eric J. Lindberg Jr. of Grocery Outlet Holding Corp. sold 6,051 shares of common stock on March 4, 2025, at a price of $11.34 to satisfy tax withholding obligations.
Summary
- On March 4, 2025, Eric J. Lindberg Jr., a director of Grocery Outlet Holding Corp., sold 6,051 shares of common stock.
- The sale price was $11.34 per share.
- The transaction was executed to cover the reporting person's tax withholding obligations upon the vesting of previously granted Restricted Stock Units (RSUs).
- Following the transaction, Lindberg directly owns 193,451 shares.
- Lindberg also indirectly owns 1,976,670 shares through the Lindberg Family Revocable Trust, 401,500 shares through the Lindberg Irrevocable Trust, 460 shares by child and 460 shares by spouse.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The transaction is a routine sale of shares to cover tax obligations, which is a common practice among corporate executives. There is no indication of any negative implications for the company.
Industry Context
Sales of shares by company insiders are a common occurrence and are often related to personal financial planning or tax obligations. It's important to consider the context of these sales, such as the overall trading volume and the size of the sale relative to the insider's total holdings.
Comparison to Industry Standards
- Comparing Lindberg's transactions to those of other directors in similar grocery retail companies could provide context.
- For example, if directors at companies like Kroger or Albertsons are also selling shares to cover tax obligations, it would suggest this is a normal practice.
- However, if Lindberg's sales are significantly larger or more frequent than those of his peers, it could raise concerns.
Stakeholder Impact
- The sale of shares by a director could have a minor impact on shareholder sentiment, but is unlikely to have a significant impact given the reason for the sale.
Key Dates
| Date | Description |
|---|---|
| 2/14/2006 | Date of Lindberg Family Revocable Trust u/a/d |
| 5/12/17 | Date of Lindberg Irrevocable Trust u/a/d |
| 03/04/2025 | Date of transaction: Sale of shares |
| 03/06/2025 | Date of signature on the Form 4 filing |
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