Form 4: Portillo's Inc. Chief Marketing Officer Exercises and Sells Stock Options
SEC Form 4 Filing
Nicholas Anthony Scarpino, Chief Marketing Officer of Portillo's Inc., executed stock options and sold shares of Class A common stock on August 15, 2024.
Summary
- On August 15, 2024, Nicholas Anthony Scarpino, the Chief Marketing Officer of Portillo's Inc., engaged in transactions involving the company's Class A common stock.
- Scarpino exercised stock options to acquire 18,373 shares at a price of $5.45 per share, 73,491 shares at $3.30 per share and 4,858 shares at $3.30 per share.
- Concurrently, Scarpino sold 18,373 shares at an average price of $11.86, 73,491 shares at an average price of $11.71 and 4,858 shares at an average price of $11.86.
- Following these transactions, Scarpino directly owns 28,450 shares of Class A common stock.
- The stock options exercised were granted on January 15, 2015, under the company's 2014 Equity Incentive Plan and were fully vested.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions by a company executive. It doesn't inherently convey positive or negative sentiment.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions. It provides transparency into the trading activities of company executives, which is a standard practice in publicly traded companies.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the overall effect is likely minimal.
Key Dates
| Date | Description |
|---|---|
| 01/15/2015 | Date options were originally granted under the 2014 Equity Incentive Plan. |
| 08/15/2024 | Date of the stock option exercise and sale of shares. |
| 01/05/2025 | Expiration date of the stock options. |
| 08/19/2024 | Date of the Form 4 filing. |
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