Form 4: Sysco CFO Kenny Cheung Reports Routine Tax-Related Stock Disposition Following RSU Vesting

Sysco's Executive Vice President and Chief Financial Officer, Kenny K Cheung, reported the disposition of 533 common shares on June 2, 2025, to cover tax obligations related to the vesting of restricted stock units.

Summary

• The filing is a Form 4, reporting a change in beneficial ownership of securities by an insider.
• The reporting person is Kenny K Cheung, who holds the position of Executive Vice President and Chief Financial Officer at Sysco Corp.
• On June 2, 2025, Mr. Cheung disposed of 533 shares of Sysco Common Stock.
• The transaction code 'F' indicates that these shares were withheld to pay tax withholding obligations upon the vesting of restricted stock units.
• The price per share for the disposition was $73.
• Following this transaction, Kenny K Cheung beneficially owns 27,233 shares of Sysco Common Stock.

Sentiment

Score: 5

Explanation: The document reports a routine administrative transaction (tax withholding on RSU vesting) which is neutral in sentiment and does not indicate any positive or negative operational or financial performance for the company.

Future Outlook

This Form 4 filing pertains to a routine insider transaction for tax purposes and does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This Form 4 filing represents a standard and routine transaction for executives who receive equity compensation, such as Restricted Stock Units (RSUs). It is common practice for a portion of vested RSUs to be withheld by the company to cover the executive's tax liabilities, rather than requiring the executive to pay taxes out-of-pocket. This type of transaction is prevalent across all industries where equity-based compensation is a significant component of executive pay.

Comparison to Industry Standards

• The disposition of shares to cover tax withholding obligations upon RSU vesting is a standard practice for executive compensation across publicly traded companies.
• This transaction aligns with typical executive compensation structures and tax compliance procedures observed in the broader market, including companies comparable to Sysco in size and industry.

Stakeholder Impact

• Shareholders: This is a routine administrative transaction and is unlikely to have a significant direct impact on shareholders. It confirms the executive's continued equity ownership, albeit slightly reduced by tax withholding.
• Employees: No direct impact on employees beyond the executive involved.

Key Dates

Recommendation

Keywords

Sysco, SYY, Form 4, Insider Transaction, Beneficial Ownership, Restricted Stock Units, RSU Vesting, Executive Compensation, Tax Withholding