Form 4: Petco Executive Rajendra Mohan Disposes of Shares to Cover Tax Obligations
SEC Form 4 Filing
Rajendra Mohan, Interim CEO of Petco, disposed of 8,590 shares of Class A Common Stock to cover tax liabilities related to vested restricted stock units.
Summary
- On July 8, 2024, Rajendra Mohan, Interim CEO of Petco Health & Wellness Company, Inc., disposed of 8,590 shares of Class A Common Stock.
- The disposal was executed to satisfy the reporting person's tax liability related to restricted stock units (RSUs) that vested on July 6, 2024.
- The RSUs were granted on July 6, 2023, under the Petco Health and Wellness Company, Inc. 2021 Equity Incentive Plan.
- Following the transaction, Mohan directly owns 1,159,545 shares, which includes 947,870 outstanding RSUs.
Sentiment
Score: 5
Explanation: This is a neutral event. It's a standard transaction related to executive compensation and tax obligations.
Industry Context
This is a routine Form 4 filing, reflecting insider transactions related to equity compensation. It's common for executives to sell shares to cover tax obligations when RSUs vest.
Key Dates
| Date | Description |
|---|---|
| July 6, 2023 | RSUs were granted to the Reporting Person pursuant to the Petco Health and Wellness Company, Inc. 2021 Equity Incentive Plan |
| July 6, 2024 | RSUs vested |
| July 8, 2024 | Transaction date: Rajendra Mohan disposed of shares to cover tax obligations. |
| July 10, 2024 | Date of signature for the Form 4 filing. |
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