Form 4: Portillo's Inc. Executive Michael K. Ellis Reports Stock Transaction
SEC Form 4 Filing
Chief Development Officer Michael K. Ellis of Portillo's Inc. reports disposition of shares to cover tax obligations.
Summary
- On August 29, 2024, Michael K. Ellis, Chief Development Officer of Portillo's Inc., reported a transaction involving Class A common stock.
- The transaction involved the disposition of 1,133 shares at a price of $12.27 per share to satisfy tax withholding obligations related to the vesting of a previously disclosed award.
- Following the transaction, Ellis directly owns 31,560 shares of Portillo's Inc. Class A common stock.
Sentiment
Score: 5
Explanation: Neutral sentiment as the filing relates to a routine transaction for tax purposes.
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 shareholders as it is a routine sale of shares to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 08/29/2024 | Date of stock transaction |
| 09/03/2024 | Date of signature on the report |
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