Form 4: Sweetgreen Chief Concept Officer Sells Shares to Cover Tax Obligations

Sweetgreen's Chief Concept Officer, Nicolas Jammet, sold 170,199 shares of Class A Common Stock to cover tax obligations related to equity incentives.

Summary

• Nicolas Jammet, Chief Concept Officer at Sweetgreen, sold 170,199 shares of Class A Common Stock on December 13, 2024.
• The sale was executed at a price of $37.73 per share.
• This transaction was mandated by Sweetgreen's equity incentive plan to cover tax withholding obligations.
• Following the sale, Jammet beneficially owns 1,760,034 shares, including 1,500,000 shares subject to restricted stock units that vest over time and based on stock price targets.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, not indicative of positive or negative sentiment.

Industry Context

This is a routine transaction related to executive compensation and tax obligations, common in publicly traded companies.

Comparison to Industry Standards

• Similar 'sell to cover' transactions are common among executives at publicly traded companies to manage tax liabilities associated with equity compensation.
• The vesting conditions of the restricted stock units are also typical, often tied to time and performance metrics.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.

Key Dates

Keywords

Sweetgreen, Nicolas Jammet, stock sale, insider trading, equity incentive, tax withholding, Class A Common Stock, restricted stock units