Form 4: Leslie's CFO Granted 21,750 Restricted Stock Units

Leslie's, Inc. Chief Financial Officer Jeffrey Justin White was granted 21,750 Restricted Stock Units, vesting over three years.

Summary

• Jeffrey Justin White, Chief Financial Officer & Treasurer of Leslie's, Inc. (LESL), was granted 21,750 Restricted Stock Units (RSUs).
• The transaction date for this grant was October 5, 2025.
• Each RSU represents the contingent right to receive one share of Leslie's Common Stock upon vesting.
• The RSUs will vest in equal installments on October 5, 2026, October 5, 2027, and October 5, 2028.
• Vesting is contingent upon Mr. White's continuous employment or service with Leslie's, Inc. or an affiliate until the applicable vesting date.
• Following this transaction, Mr. White beneficially owns 21,750 derivative securities (RSUs).

Sentiment

Score: 7

Explanation: The grant of Restricted Stock Units to a key executive is a positive signal for executive retention and aligns management's long-term interests with those of shareholders. It is a standard compensation practice and generally viewed favorably as it ties executive compensation to company performance over time.

Positives

• The grant of Restricted Stock Units aligns the Chief Financial Officer's long-term interests with those of shareholders, encouraging sustained performance.
• The multi-year vesting schedule promotes executive retention and stability within the company's leadership.
• This is a standard component of executive compensation, indicating a commitment to attracting and retaining key talent.

Negatives

• The RSUs do not represent immediate ownership of common stock and are subject to forfeiture if employment conditions are not met.
• There is no immediate cash value realized from the grant itself, as the price per RSU was $0.

Risks

• The primary risk for the reporting person is the forfeiture of unvested RSUs if employment with Leslie's, Inc. or an affiliate ceases before the scheduled vesting dates.

Future Outlook

The future outlook for the Chief Financial Officer includes the potential to acquire 21,750 shares of Leslie's, Inc. common stock upon the successful completion of the three-year vesting schedule, contingent on continuous employment.

Industry Context

The grant of Restricted Stock Units to a key executive is a common and widely accepted practice in publicly traded companies across various industries, including specialty retail. This compensation structure is designed to align executive incentives with long-term shareholder value creation and executive retention.

Comparison to Industry Standards

• RSU grants are a standard component of executive compensation packages in publicly traded companies, aligning executive interests with long-term shareholder value.
• The multi-year vesting schedule (three years in this case) is a typical industry practice to encourage executive retention and sustained performance.
• Companies in similar retail or home improvement sectors, such as Home Depot (HD) or Pool Corporation (POOL), frequently utilize comparable RSU programs for their senior executives to incentivize long-term commitment and performance.

Stakeholder Impact

• Shareholders: The RSU grant aligns the CFO's financial incentives with the long-term performance of the company, potentially benefiting shareholders through sustained value creation.
• Employees (CFO): The grant provides a significant component of long-term compensation, incentivizing continued service and performance.

Next Steps

• The Restricted Stock Units will vest in equal installments on October 5, 2026, October 5, 2027, and October 5, 2028, subject to continuous employment.
• Upon vesting, the RSUs will convert into shares of Leslie's, Inc. Common Stock.

Key Dates

Recommendation

This Form 4 filing details a routine executive compensation event (Restricted Stock Unit grant) and does not provide new information that would significantly alter the fundamental investment thesis for Leslie's, Inc. It primarily serves to align the CFO's interests with long-term shareholder value, which is a standard corporate governance practice. Therefore, a 'hold' recommendation is appropriate as this event alone does not warrant a change in investment strategy.

Keywords

Leslie's, LESL, Restricted Stock Units, RSU, CFO, executive compensation, insider transaction, equity grant, Form 4