Form 4: Berkshire Partners Sells Shares of Portillo's Inc. in Block Trade

Berkshire Partners LLC and affiliated entities sold shares of Portillo's Inc. (PTLO) Class A common stock in a block trade on May 19, 2025.

Summary

• Berkshire Partners LLC and several affiliated entities, including Berkshire Fund VIII, L.P., Berkshire Investors III LLC, Berkshire Investors IV LLC, and Berkshire Fund VIII-A, L.P., sold shares of Portillo's Inc. Class A common stock on May 19, 2025.
• The sales were executed as a block trade pursuant to Rule 144.
• The price per share for the sales was $12.23.
• Joshua Lutzker, a Managing Director of Berkshire Partners and a director of Portillo's, may have a pecuniary interest in the securities held by the reporting persons.
• Lutzker also received restricted stock units for his service on the Board of Directors.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to a stock sale. It doesn't inherently convey positive or negative sentiment, but rather reports a transaction.

Industry Context

Private equity firms like Berkshire Partners often reduce their stakes in portfolio companies after an IPO, which can create liquidity for the firm and its investors.

Comparison to Industry Standards

• Block trades are a common mechanism for large shareholders, such as private equity firms, to reduce their positions in a public company.
• The size of the block trade is significant, representing a notable portion of Berkshire Partners' holdings in Portillo's.

Stakeholder Impact

• The sale of a significant block of shares could potentially impact the stock price of Portillo's Inc.
• The transaction provides liquidity to Berkshire Partners and its investors.

Key Dates

Keywords

Portillo's Inc., Berkshire Partners, Class A Common Stock, Block Trade, Share Sale, Rule 144, Joshua Lutzker, Berkshire Fund VIII, Berkshire Investors III LLC, Berkshire Investors IV LLC, Berkshire Fund VIII-A, L.P.