Form 4: Pinstripes Holdings CFO Anthony Querciagrossa Receives Stock Grant

Anthony Querciagrossa, CFO of Pinstripes Holdings, Inc., reports the acquisition of 96,774 shares of Class A Common Stock as a grant.

Summary

• On May 9, 2024, Anthony Querciagrossa, the Chief Financial Officer of Pinstripes Holdings, Inc., acquired 96,774 shares of Class A Common Stock.
• These shares were granted as restricted stock.
• The restricted stock vests in three equal installments on May 9, 2025, May 9, 2026, and May 9, 2027, contingent upon continued employment.
• Following this transaction, Querciagrossa directly owns 196,774 shares of Class A Common Stock.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, indicating stability and alignment of interests. The sentiment is neutral to positive as it suggests confidence in the executive's continued contributions.

Positives

• The grant of restricted stock to the CFO aligns his interests with the long-term performance of the company.
• The vesting schedule encourages continued employment and commitment from the CFO.

Risks

• The value of the restricted stock is subject to the market performance of Pinstripes Holdings, Inc.
• If Querciagrossa's employment terminates before the vesting dates, he will forfeit the unvested shares.

Future Outlook

The document does not contain specific forward-looking statements, but the stock grant suggests an expectation of continued contributions from the CFO.

Industry Context

Stock grants are a common form of executive compensation, aligning management's interests with those of shareholders and incentivizing long-term value creation.

Comparison to Industry Standards

• Stock grants are a typical component of executive compensation packages in publicly traded companies.
• The vesting schedule of one-third per year over three years is a standard practice to ensure continued service.
• Comparable companies in the hospitality and entertainment sectors, such as Dave & Buster's Entertainment, Inc. and Topgolf Callaway Brands Corp., also utilize stock grants as part of their executive compensation plans.

Stakeholder Impact

• Shareholders may view the stock grant positively as it aligns management's interests with the company's long-term success.
• Employees may see the grant as a sign of the company's commitment to its leadership team.

Key Dates