Form 4: Portillo's Inc. Chief Information Officer Receives Stock Grant

Keith M. Correia, Chief Information Officer of Portillo's Inc., reports the acquisition of 12,417 shares of Class A common stock through a restricted stock unit grant.

Summary

• On April 15, 2025, Keith M. Correia, the Chief Information Officer of Portillo's Inc., acquired 12,417 shares of Class A common stock.
• These shares were granted as restricted stock units subject to time-based vesting.
• One-third of the restricted stock units will vest on each of the first three anniversaries of the grant date, contingent upon Correia's continued service with Portillo's Inc.
• Following this transaction, Correia directly owns 31,141 shares of Portillo's Inc. Class A common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard executive compensation practices and aligns executive interests with company performance.

Positives

• The grant of restricted stock units aligns the executive's interests with the long-term performance of the company.
• Correia's increased stake in the company could signal confidence in Portillo's future prospects.

Industry Context

Stock grants are a common practice in the industry to incentivize and retain key executives.

Comparison to Industry Standards

• Many companies in the restaurant industry use stock grants as part of their compensation packages for executives.
• The vesting schedule of one-third per year for three years is a fairly standard vesting schedule for restricted stock units.

Stakeholder Impact

• The stock grant could have a slightly positive impact on shareholder sentiment as it aligns executive interests with company performance.

Key Dates

Keywords

Form 4, Portillo's Inc., Keith M. Correia, Chief Information Officer, Stock Grant, Restricted Stock Units, Beneficial Ownership, PTLO