Form 4: PLBY CEO Bernhard Kohn Sells Shares for Tax Obligations

Playboy, Inc. CEO Bernhard L. Kohn III sold 18,502 shares of common stock to satisfy tax withholding obligations related to restricted stock unit settlements.

Summary

• CEO Bernhard L. Kohn III disposed of 18,502 shares of PLBY common stock on April 24, 2026.
• The shares were sold at a weighted average price of $1.826 per share, with individual transaction prices ranging from $1.795 to $1.87.
• The sale was executed specifically to cover tax withholding obligations resulting from the vesting and settlement of restricted stock units.
• Following this transaction, the reporting person maintains direct beneficial ownership of 6,245,045 shares, in addition to indirect holdings through various trusts and entities.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, as the transaction is a routine administrative action related to tax obligations rather than a discretionary market move.

Positives

• The sale was non-discretionary and executed solely to satisfy tax liabilities associated with equity compensation, rather than a signal of lack of confidence in the company.

Negatives

• The transaction reflects a reduction in the direct equity stake held by the CEO, albeit for tax purposes.

Risks

• The company's stock price remains in a low range, which may impact future equity-based compensation and retention strategies.

Future Outlook

No specific forward-looking guidance regarding company operations was provided in this filing.

Management Comments

• The sale was made in connection with the settlement of restricted stock units, solely to cover taxes related to such settlement.

Industry Context

StockSavvy.ai notes that mandatory tax-related selling by executives is a standard corporate practice and typically does not indicate a change in strategic direction or negative sentiment regarding the company's future performance.

Comparison to Industry Standards

• The use of 'sell-to-cover' transactions is a standard industry practice for executives to manage tax liabilities arising from equity vesting.
• The reporting of these transactions via Form 4 is in full compliance with SEC Section 16(a) requirements.

Related Party Transactions

• The filing discloses indirect holdings through Cold Springs Trust, Woodburn Dr LP, and Bircoll Kohn Family Trust, for which the reporting person serves as a beneficiary, controller, or trustee.

Stakeholder Impact

• Minimal impact on shareholders as the sale was for tax purposes and represents a small fraction of the CEO's total holdings.

Next Steps

• No future actions or milestones were disclosed in this filing.

Key Dates

Keywords

PLBY, Playboy, Insider Trading, Form 4, Bernhard Kohn, Equity Compensation