Form 4: Performance Food Group Executive Hagerty Reports Stock Transactions
SEC Form 4
Patrick T. Hagerty, an executive at Performance Food Group Co, reports acquisition and disposal of company stock, including grants of restricted stock and shares acquired through an employee stock purchase plan.
Summary
- Patrick T. Hagerty, Executive Vice President and Chief Commercial Officer of Performance Food Group Co, filed a Form 4 detailing changes in beneficial ownership of the company's stock.
- On August 15, 2024, Hagerty acquired 23,256 shares of common stock through a performance-based restricted stock grant that vested.
- Also on August 15, 2024, he disposed of 9,655 shares at a price of $73.12.
- He also acquired 10,258 restricted shares on August 15, 2024, which will vest on August 15, 2025.
- On August 17, 2024, he disposed of 1,671 shares at a price of $73.48.
- These transactions leave Hagerty with a total of 174,315 shares of common stock beneficially owned.
- The report also notes that Hagerty acquired 361 shares through the Performance Food Group Company Employee Stock Purchase Plan on June 30, 2024.
Sentiment
Score: 5
Explanation: The sentiment is neutral. The filing primarily reports transactions, with no explicit positive or negative indicators. The vesting of performance-based stock is mildly positive, while the sale of shares is mildly negative, balancing each other out.
Positives
- The vesting of performance-based restricted stock suggests Hagerty met performance targets set by the company.
- Participation in the Employee Stock Purchase Plan indicates confidence in the company's future.
Negatives
- The disposal of shares could be interpreted negatively, although it may be for personal financial management.
Industry Context
Executive stock transactions are routinely monitored by investors as they can provide insights into management's perspective on the company's valuation and future prospects. Form 4 filings are a standard part of regulatory compliance for publicly traded companies.
Stakeholder Impact
- Shareholders may be interested in the executive's transactions as an indicator of confidence in the company.
Key Dates
| Date | Description |
|---|---|
| July 4, 2021 | Start date of the performance period for the performance-based restricted stock grant. |
| June 29, 2024 | End date of the performance period for the performance-based restricted stock grant. |
| June 30, 2024 | Date of common stock acquisition under the Performance Food Group Company Employee Stock Purchase Plan. |
| August 15, 2024 | Date of restricted stock grant vesting and stock disposal. |
| August 17, 2024 | Date of stock disposal. |
| August 15, 2025 | Vesting date of the restricted stock grant. |
| August 19, 2024 | Date of the report. |
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