Form 4: PFGC Director Manuel Fernandez Receives Stock Grant

Performance Food Group Co. director Manuel A. Fernandez was granted 3,143 deferred stock units, increasing his beneficial ownership to 38,621 shares.

Summary

• Manuel A. Fernandez, a Director of Performance Food Group Co. (PFGC), was granted 3,143 deferred stock units.
• The transaction occurred on November 19, 2025.
• Following this grant, Fernandez's beneficial ownership in PFGC common stock increased to 38,621 shares.
• The deferred stock units were granted at a price of $0, indicating they are part of a compensation package.
• These units will vest in full on the earlier of November 19, 2026, or the date of the next regularly scheduled annual meeting of stockholders.
• The shares underlying these units will be issued to Fernandez after his separation from service from the Issuer.

Sentiment

Score: 7

Explanation: The grant of deferred stock units to a director is a positive event as it aligns management's interests with shareholders. It is a routine compensation matter and does not indicate any significant operational or financial changes, hence a moderately positive score.

Positives

• The grant of deferred stock units aligns the director's interests with those of shareholders, as his compensation is tied to the company's future performance.
• This is a routine compensation event for a director, indicating stable corporate governance practices.

Future Outlook

The deferred stock units granted to Director Manuel A. Fernandez are scheduled to vest on the earlier of November 19, 2026, or the next regularly scheduled annual meeting of stockholders. The underlying shares will be issued upon his separation from service.

Industry Context

Equity grants, such as deferred stock units, are a common form of compensation for non-employee directors in publicly traded companies across various industries, including the food distribution sector. This practice aims to align the interests of directors with long-term shareholder value creation.

Comparison to Industry Standards

• The grant of deferred stock units to a director is a standard practice for compensating board members in publicly traded companies, comparable to compensation structures seen at peers in the food service distribution industry.
• The vesting schedule, tied to a specific future date or the next annual meeting, is also a common mechanism to ensure director retention and long-term commitment.

Stakeholder Impact

• Shareholders: The grant aligns the director's long-term interests with shareholder value creation.
• Employees: No direct impact on general employees is indicated by this filing.
• Customers/Suppliers/Creditors: No direct impact on these stakeholders is indicated by this filing.

Next Steps

• The deferred stock units will vest on the earlier of November 19, 2026, or the next regularly scheduled annual meeting of stockholders.
• Shares underlying the units will be issued to the Reporting Person after his separation from service from the Issuer.

Key Dates

Recommendation

This Form 4 reports a routine equity compensation grant to a director. It does not contain new material information regarding the company's financial performance, operational outlook, or strategic direction that would warrant a change in investment recommendation. The transaction is a standard practice to align director incentives with shareholder interests.

Keywords

Performance Food Group, PFGC, Manuel Fernandez, Director, Stock Grant, Deferred Stock Units, Insider Transaction, Form 4, Equity Compensation