Form 4: UniFirst Corp Director Matthew Croatti Reports Tax Withholding and Stock Vesting
SEC Form 4
Director Matthew Croatti reports the withholding of shares to cover tax obligations related to vesting restricted stock units and provides details on his holdings in UniFirst Corp.
Summary
- On October 31, 2024, UniFirst Corporation withheld 223 shares of common stock from Director Matthew Croatti to cover tax obligations related to the vesting of restricted stock units at a price of $179.81 per share.
- Following the transaction, Croatti directly owns 9,954 shares of UniFirst Corp common stock.
- These holdings include 94 restricted stock units vesting annually on October 31, 2025, 187 units vesting in two annual installments on October 31, 2025 and 2026, 355 units vesting in three annual installments from 2025-2027, 548 units vesting in four annual installments from 2025-2028, and 8,770 shares of common stock.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing, so the sentiment is neutral. It reflects standard insider activity related to stock vesting and tax obligations.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to monitor the actions of those with privileged information.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it reflects insider activity related to compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 2024-08-20 | Date of Power of Attorney execution. |
| 2024-10-31 | Date of transaction: shares withheld for tax obligations. |
| 2025-10-31 | Vesting date for 94 restricted stock units. |
| 2025-10-31 | First vesting date for 187 restricted stock units. |
| 2026-10-31 | Second vesting date for 187 restricted stock units. |
| 2025-10-31 | First vesting date for 355 restricted stock units. |
| 2026-10-31 | Second vesting date for 355 restricted stock units. |
| 2027-10-31 | Third vesting date for 355 restricted stock units. |
| 2025-10-31 | First vesting date for 548 restricted stock units. |
| 2026-10-31 | Second vesting date for 548 restricted stock units. |
| 2027-10-31 | Third vesting date for 548 restricted stock units. |
| 2028-10-31 | Fourth vesting date for 548 restricted stock units. |
| 2024-11-04 | Date of signature for the report. |
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