Form 4: Portillo's Inc. Executive Michael K. Ellis Reports Tax Withholding Transaction
SEC Form 4 Filing
Michael K. Ellis, Chief Development Officer at Portillo's Inc., reports a transaction involving the deduction of shares to cover tax obligations related to vesting awards.
Summary
- On May 2, 2025, Michael K. Ellis, Chief Development Officer of Portillo's Inc., reported a transaction on SEC Form 4.
- The transaction involved the deduction of 1,529 shares of Class A common stock at a price of $10.45 per share to satisfy tax withholding obligations.
- Following the transaction, Ellis directly owns 49,087 shares of Portillo's Inc.
- The report was filed on May 5, 2025.
Sentiment
Score: 5
Explanation: The document reports a routine transaction related to tax obligations, which is neutral in sentiment.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and their potential impact on the stock's performance.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a standard tax withholding procedure.
Key Dates
| Date | Description |
|---|---|
| 05/02/2025 | Date of transaction: deduction of shares for tax withholding. |
| 05/05/2025 | Date of report filing. |
Keywords
Form 4, Beneficial Ownership, Michael K. Ellis, Portillo's Inc., PTLO, Tax Withholding, Class A Common Stock, Chief Development Officer
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