WOOF.NASDAQPetco Health & Wellness Company, INC

Form 4: Petco CFO Brian LaRose Disposes of Shares to Cover Tax Obligations

Sentiment:

SEC Form 4 Filing

📋All filings for Petco Health & Wellness Company, INC
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Petco's Chief Financial Officer, Brian LaRose, disposed of shares to cover tax liabilities related to vested restricted stock units.

Summary

  • On April 10, 2024, Brian LaRose, the Chief Financial Officer of Petco Health & Wellness Company, Inc., disposed of 8,034 shares of Class A Common Stock to satisfy tax obligations.
  • The shares were withheld to cover the tax liability associated with restricted stock units (RSUs) that vested on the same date.
  • These RSUs were initially granted on April 10, 2023, under the company's 2021 Equity Incentive Plan.
  • Following the transaction, LaRose directly owns 234,389 shares of Class A Common Stock, which includes 135,984 outstanding RSUs.
  • He also indirectly owns 3,000 shares through his spouse.

Sentiment

Score: 5

Explanation: This is a routine transaction related to executive compensation and tax obligations, and doesn't inherently indicate positive or negative sentiment about the company's prospects.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment with company performance.

Stakeholder Impact

  • The transaction has a minimal impact on shareholders as it is a standard procedure for covering tax obligations related to executive compensation.

Key Dates

DateDescription
April 10, 2023Date RSUs were granted to Brian LaRose under the 2021 Equity Incentive Plan.
April 10, 2024Date of transaction: disposal of shares to cover tax liability and vesting date of a portion of the RSUs.
April 12, 2024Date of signature of the Form 4 filing.

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