Form 4: Potbelly Corp CEO Robert Wright Reports Stock Disposals for Tax Obligations
SEC Form 4
Robert D. Wright, President and CEO of Potbelly Corp, reported disposing of shares to cover tax liabilities upon the vesting of restricted stock units.
Summary
- On January 31, 2025, Robert D. Wright, the President and CEO of Potbelly Corp, disposed of common stock to cover tax obligations.
- A total of 2,206 shares were disposed of at a price of $12.41 per share.
- These disposals were related to the vesting of restricted stock units granted on January 6, 2023, January 3, 2024, and January 2, 2025.
- Following these transactions, Wright directly owns 791,164 shares of Potbelly Corp common stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing relates to routine stock disposals for tax purposes, which is a common practice and doesn't necessarily reflect a change in the executive's confidence in the company.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Disposals to cover tax obligations are common and don't necessarily indicate a negative outlook on the company.
Key Dates
| Date | Description |
|---|---|
| 01/06/2023 | Date of restricted stock units grant related to the first share disposal. |
| 01/03/2024 | Date of restricted stock units grant related to the second share disposal. |
| 01/02/2025 | Date of restricted stock units grant related to the third share disposal. |
| 01/31/2025 | Date of the stock disposal transactions. |
| 02/04/2025 | Date of the Form 4 filing. |
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