Form 4: Petco CFO Brian LaRose Disposes of Shares to Cover Tax Obligations
SEC Form 4 Filing
Petco's Chief Financial Officer, Brian LaRose, disposed of shares to cover tax liabilities related to vested restricted stock units.
Summary
- On June 5, 2024, Brian LaRose, the Chief Financial Officer of Petco Health & Wellness Company, Inc., disposed of 9,749 shares of Class A Common Stock to satisfy tax obligations.
- The shares were withheld at a price of $3.98 per share.
- This transaction was related to the vesting of restricted stock units (RSUs) granted on December 5, 2022, under the company's 2021 Equity Incentive Plan.
- Following the transaction, LaRose directly owns 722,962 shares, including 603,961 outstanding RSUs, and indirectly owns 3,000 shares through his spouse.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction related to executive compensation and tax obligations, indicating a neutral sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This transaction is a standard practice for executives receiving equity compensation.
Key Dates
| Date | Description |
|---|---|
| 12/05/2022 | Date the restricted stock units (RSUs) were granted to Brian LaRose under the 2021 Equity Incentive Plan. |
| 06/05/2024 | Date of the transaction where shares were disposed of to cover tax liabilities related to vested RSUs. |
| 06/07/2024 | Date of signature for the Form 4 filing. |
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