Form 4: Grocery Outlet SVP Susan Leary Receives Equity Grant

Grocery Outlet Holding Corp. SVP of Accounting Susan Michelle Leary was granted 4,433 restricted stock units and 6,650 performance-based stock units.

Summary

• Susan Michelle Leary, SVP of Accounting at Grocery Outlet Holding Corp., received an equity grant on June 15, 2026.
• The grant includes 4,433 restricted stock units (RSUs) vesting in three equal annual installments starting May 20, 2027.
• The grant also includes 6,650 performance-based stock units (PSUs) tied to share price goals over a three-year period ending in fiscal year 2028.
• The reporting person now beneficially owns 50,642 shares of common stock directly.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a routine regulatory disclosure regarding executive compensation, which is neutral in terms of immediate market impact.

Positives

• Equity-based compensation aligns the interests of the SVP of Accounting with long-term shareholder value.
• Performance-based units (PSUs) incentivize the achievement of specific share price targets over a three-year horizon.

Negatives

• The issuance of new RSUs and PSUs results in potential future dilution for existing shareholders.

Risks

• Vesting of PSUs is contingent upon the achievement of specific share price goals, which may not be met.
• Continued employment is a requirement for the vesting of both RSUs and PSUs.

Future Outlook

The PSUs are subject to a three-year performance period ending at the close of fiscal year 2028, with vesting dependent on the achievement of share price targets.

Management Comments

• The grants are subject to the reporting person's continued service and the achievement of performance goals as defined in the award agreements.

Industry Context

StockSavvy.ai notes that equity grants for senior accounting and finance executives are standard practice for retention and alignment in the retail sector, particularly for companies like Grocery Outlet that utilize performance-based incentives to drive long-term stock appreciation.

Comparison to Industry Standards

• The use of a three-year vesting schedule for RSUs is consistent with standard corporate governance practices for executive compensation.
• Performance-based vesting tied to share price is a common mechanism in the retail industry to ensure management focus on shareholder returns.

Stakeholder Impact

• Shareholders may experience minor dilution upon the eventual vesting and issuance of the underlying common stock.

Next Steps

• Vesting of the first installment of RSUs on May 20, 2027.
• Certification of PSU performance goals by the Compensation Committee following the end of fiscal year 2028.

Key Dates

Keywords

Grocery Outlet, GO, Insider Trading, Form 4, Equity Compensation, Executive Compensation