Form 4: Portillo's Inc. Executive Keith M. Correia Reports Stock Transaction
SEC Form 4 Filing
Keith M. Correia, Chief Information Officer of Portillo's Inc., reports the disposal of 1,226 shares of Class A common stock to cover tax obligations.
Summary
- On May 2, 2025, Keith M. Correia, the Chief Information Officer of Portillo's Inc., disposed of 1,226 shares of Class A common stock.
- The transaction was executed to satisfy tax withholding obligations related to the vesting of a previously disclosed award.
- The price per share was $10.45.
- Following the transaction, Correia directly owns 29,314 shares of Portillo's Inc. Class A common stock.
Sentiment
Score: 5
Explanation: The document reports a routine transaction related to tax obligations, which is neither particularly positive nor negative. It's a neutral disclosure required by regulations.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and directors. This filing indicates a standard transaction to cover tax obligations upon vesting of stock awards, which is a common practice.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine sale of shares to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 05/02/2025 | Date of stock transaction (disposal of shares) |
| 05/05/2025 | Date of signature on the report |
Keywords
Form 4, Beneficial Ownership, Stock Transaction, Portillo's Inc., PTLO, Keith M. Correia, Chief Information Officer
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