Form 4: Krispy Kreme Director Michael J. Tattersfield Reports Changes in Beneficial Ownership

Director Michael J. Tattersfield reports acquisition of restricted stock units and adjustments to beneficial ownership of Krispy Kreme, Inc. shares.

Summary

• On April 11, 2024, Michael J. Tattersfield, a director of Krispy Kreme, Inc., reported changes in his beneficial ownership of the company's stock.
• He acquired 6,672 restricted stock units (RSUs) that vest in three installments: 60% on April 11, 2027, 20% on April 11, 2028, and 20% on April 11, 2029.
• These RSUs will be settled on a one-for-one basis in shares of common stock upon vesting.
• Following the reported transaction, Tattersfield directly owns 2,943,612 shares, including 2,080,224 shares and 863,388 unvested RSUs.
• He also has indirect ownership of 295 shares through his child and 550,051 shares held in trust for his children, with his spouse as the trustee.
• Tattersfield disclaims beneficial ownership of shares owned by his daughter, except to the extent of his pecuniary interest.

Sentiment

Score: 6

Explanation: The document is a neutral report of stock ownership changes. The acquisition of RSUs is a mildly positive signal, but overall, the document is informational rather than promotional.

Positives

• The acquisition of RSUs by a director signals confidence in the company's future performance.
• The staggered vesting schedule of the RSUs aligns the director's interests with the long-term success of Krispy Kreme.

Future Outlook

The document does not contain specific forward-looking statements, but the vesting schedule of the RSUs suggests a long-term commitment from the director.

Industry Context

This filing is a routine disclosure of changes in beneficial ownership by a company insider, which is common in publicly traded companies. It provides transparency to investors regarding the holdings of key personnel.

Comparison to Industry Standards

• Similar filings are common for directors and officers of publicly traded companies like Dunkin' Brands (now part of Inspire Brands) and Starbucks, where stock-based compensation is a significant part of executive pay.
• The vesting schedule of the RSUs is typical, aligning with industry practices for incentivizing long-term performance.

Stakeholder Impact

• The change in ownership may have a minor positive impact on shareholder sentiment, as it indicates the director's continued investment in the company.

Key Dates