Form 4: Sweetgreen's Chief Concept Officer, Nicolas Jammet, Executes Stock Sale Under 10b5-1 Plan

Nicolas Jammet, Chief Concept Officer at Sweetgreen, sold 7,400 shares of Class A Common Stock at an average price of $25.05, according to a Form 4 filing with the SEC.

Summary

• Nicolas Jammet, the Chief Concept Officer of Sweetgreen, Inc., reported changes in beneficial ownership to the SEC.
• On March 10, 2025, Jammet sold 7,400 shares of Class A Common Stock at a weighted average price of $25.05 per share.
• The sale was executed under a pre-arranged 10b5-1 trading plan established on June 10, 2024.
• Following the transaction, Jammet directly owns no shares of Class A Common Stock but indirectly owns shares through various trusts.
• Jammet's indirect ownership includes shares held by the Nicolas Jammet Revocable Trust, the Nicolas H. Jammet 2014 GRAT, and the Jammet Descendants Trust.
• He also indirectly holds 183,507 shares through the Nicolas H. Jammet 2014 GRAT and 500,000 shares through the Jammet Descendants Trust.
• Additionally, Jammet directly holds 1,760,034 shares of Class A Common Stock, including 1,500,000 shares subject to restricted stock units that vest over time based on the issuer's stock price reaching specified levels.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, so the sentiment is neutral.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for publicly traded companies, ensuring transparency in insider trading activities.
• The use of 10b5-1 trading plans is a common practice among corporate executives to avoid accusations of insider trading, allowing them to sell shares at predetermined times and prices.

Stakeholder Impact

• The stock sale by a key executive could be perceived negatively by some shareholders, although the use of a 10b5-1 plan mitigates concerns about insider trading.
• The transaction has a limited impact on employees, customers, suppliers, and creditors.

Key Dates