Form 4: Petco Executive Zavada Settles Tax Obligations with Stock Units
SEC Form 4
John Zavada, Chief Administrative Officer at Petco Health & Wellness Company, Inc., settled tax obligations by withholding restricted stock units.
Summary
- On June 5, 2024, John Zavada, Chief Administrative Officer of Petco Health & Wellness Company, Inc., had 8,078 Class A Common Stock units withheld to cover tax liabilities.
- This transaction was related to restricted stock units (RSUs) granted on December 5, 2022, under the company's 2021 Equity Incentive Plan, with a portion vesting on June 5, 2024.
- Following the transaction, Zavada beneficially owns 617,799 shares, including 520,820 outstanding RSUs, each representing the right to receive one share of Class A common stock.
Sentiment
Score: 5
Explanation: Neutral sentiment as it reflects a standard executive compensation transaction.
Industry Context
This is a routine transaction related to executive compensation and tax obligations, common in publicly traded companies.
Comparison to Industry Standards
- Similar transactions are common among executives in publicly traded companies as part of their compensation packages.
- Companies like Chewy (CHWY) and Zoetis (ZTS), which operate in related industries, also utilize equity-based compensation for their executives.
Key Dates
| Date | Description |
|---|---|
| 12/05/2022 | Date of RSU grant under the 2021 Equity Incentive Plan. |
| 06/05/2024 | Date of transaction: withholding of stock units for tax liability and vesting of a portion of RSUs. |
| 06/07/2024 | Date of signature on the SEC Form 4 filing. |
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