Form 4: Portillo's CEO Michael Osanloo Reports Stock Transaction
SEC Filing
Michael Osanloo, President & CEO of Portillo's Inc., reports disposition of shares to cover tax obligations related to vesting of a previously disclosed award.
Summary
- On October 21, 2024, Michael Osanloo, the President & CEO of Portillo's Inc., disposed of 29,075 shares of Class A common stock to satisfy tax withholding obligations.
- The shares were sold at a price of $12.57 per share.
- Following the transaction, Osanloo directly owns 49,966 shares of Portillo's Inc. Class A common stock.
Sentiment
Score: 5
Explanation: This is a routine transaction related to tax obligations, so it doesn't significantly impact sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This transaction is related to tax obligations from vesting of stock awards, which is a common occurrence.
Stakeholder Impact
- The transaction has a minimal impact on stakeholders as it is a routine sale of shares to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 10/21/2024 | Date of stock transaction where 29,075 shares were disposed of to cover tax obligations. |
| 10/23/2024 | Date of signature for the Form 4 filing. |
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