Form 4: Petco Executive MacDonald Disposes of Shares to Cover Tax Obligations
SEC Form 4 Filing
Chief Customer Officer Darren MacDonald disposed of shares to cover tax liabilities related to vested restricted stock units.
Summary
- On April 10, 2024, Darren MacDonald, Chief Customer Officer of Petco Health & Wellness Company, Inc., disposed of 14,952 shares of Class A Common Stock to satisfy tax obligations.
- The shares were withheld at a price of $1.89 per share.
- Following the transaction, MacDonald beneficially owns 682,370 shares, including 305,483 outstanding Restricted Stock Units (RSUs).
Sentiment
Score: 5
Explanation: This is a neutral transaction related to tax obligations. It doesn't indicate positive or negative sentiment about the company's performance.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This transaction is related to tax obligations on vested equity, which is a common occurrence.
Stakeholder Impact
- The transaction has a minimal impact on stakeholders as it is a routine disposal of shares for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 04/10/2023 | Date RSUs were granted to the Reporting Person pursuant to the Petco Health and Wellness Company, Inc. 2021 Equity Incentive Plan. |
| 04/10/2024 | Date of transaction: disposal of shares to cover tax liability and date a portion of the RSUs vested. |
| 04/12/2024 | Date of signature for the Form 4 filing. |
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