Form 4: Potbelly Corp CEO Robert Wright Reports Stock Transactions
SEC Form 4 Filing
Robert D. Wright, President and CEO of Potbelly Corp, reports the withholding of shares for tax liability upon vesting of restricted stock units.
Summary
- On February 28, 2025, Robert D. Wright, the President and CEO of Potbelly Corp, reported transactions involving common stock.
- Shares were withheld to cover tax liabilities upon the vesting of restricted stock units.
- A total of 1,004 shares were withheld at a price of $12.75 related to restricted stock units granted on January 6, 2023.
- An additional 537 shares were withheld at $12.75 related to restricted stock units granted on January 3, 2024.
- Furthermore, 641 shares were withheld at $12.75 related to restricted stock units granted on January 2, 2025.
- Following these transactions, Wright beneficially owns 788,982 shares of Potbelly Corp common stock.
Sentiment
Score: 5
Explanation: This is a neutral filing related to standard executive compensation practices. It doesn't indicate positive or negative sentiment about the company's performance.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives receiving stock-based compensation. It provides transparency into the executive's holdings and transactions in the company's stock.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their executives.
- The withholding of shares for tax obligations is a common method of handling taxes related to stock-based compensation, aligning with standard industry practices.
- Similar filings are made by executives at companies like Chipotle, Starbucks, and McDonald's when they have stock transactions.
Stakeholder Impact
- The transactions have a minimal direct impact on shareholders, as they involve the withholding of shares for tax purposes rather than open market sales.
Key Dates
| Date | Description |
|---|---|
| January 6, 2023 | Date of grant for restricted stock units related to the withholding of 1,004 shares. |
| January 3, 2024 | Date of grant for restricted stock units related to the withholding of 537 shares. |
| January 2, 2025 | Date of grant for restricted stock units related to the withholding of 641 shares. |
| February 28, 2025 | Date of the stock transactions (withholding of shares). |
| March 3, 2025 | Date of signature for the Form 4 filing. |
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