Form 4: Soho House & Co CEO Andrew Carnie Sells Shares to Cover Tax Obligations

CEO Andrew Carnie sold shares of Soho House & Co Inc. to cover tax obligations arising from the vesting of restricted stock units.

Summary

• Andrew Carnie, CEO of Soho House & Co Inc., sold shares of Class A Common Stock on July 23 and July 24, 2024.
• The sales were executed to satisfy tax obligations triggered by the vesting of previously granted restricted stock units (RSUs).
• On July 23, 2024, 32,524 shares were sold at a price of $5.64 per share.
• On July 24, 2024, 24,410 shares were sold at a price of $5.4375 per share.
• Following these transactions, Andrew Carnie beneficially owns 956,479 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: Neutral sentiment as the transaction is a routine sale of shares to cover tax obligations.

Industry Context

Sales of shares to cover tax obligations after RSU vesting are a common practice among executives in publicly traded companies.

Comparison to Industry Standards

• Similar transactions are routinely observed among executives at comparable companies like Hilton, Marriott, and Hyatt, where stock-based compensation forms a significant part of their remuneration packages.
• These companies also often see executives selling shares to cover tax liabilities upon vesting of stock options or RSUs.
• The scale of these transactions is generally proportional to the executive's compensation and the company's stock performance.

Stakeholder Impact

• The sale of shares by the CEO could have a minor impact on shareholder sentiment, but is unlikely to be significant given the routine nature of the transaction.

Key Dates