Form 4: UniFirst Executive Vice President Ross William Masters Reports Tax Withholding Transaction
SEC Filing
Executive Vice President of UniFirst Corporation, William Ross Masters, reports the withholding of shares to cover tax obligations related to vesting restricted stock units.
Summary
- On October 31, 2024, UniFirst Corporation withheld 531 shares of common stock from Executive Vice President William Ross Masters to satisfy tax withholding obligations related to vesting restricted stock units.
- The transaction occurred at a price of $179.81 per share.
- Following the transaction, Masters directly owns 3,503 shares of UniFirst common stock and indirectly owns 65 shares through an IRA.
- Masters also holds restricted stock units that vest in annual installments through October 31, 2028.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, indicating a neutral sentiment.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it relates to tax obligations on vested stock.
Key Dates
| Date | Description |
|---|---|
| August 19, 2024 | Date of execution for the Power of Attorney. |
| October 31, 2024 | Date of the stock withholding transaction. |
| October 31, 2025 | Remaining vesting date for 234 restricted stock units. |
| October 31, 2025 | First vesting date for 448 restricted stock units vesting over two years. |
| October 31, 2026 | Second vesting date for 448 restricted stock units vesting over two years. |
| October 31, 2025 | First vesting date for 827 restricted stock units vesting over three years. |
| October 31, 2026 | Second vesting date for 827 restricted stock units vesting over three years. |
| October 31, 2027 | Third vesting date for 827 restricted stock units vesting over three years. |
| October 31, 2025 | First vesting date for 1,278 restricted stock units vesting over four years. |
| October 31, 2026 | Second vesting date for 1,278 restricted stock units vesting over four years. |
| October 31, 2027 | Third vesting date for 1,278 restricted stock units vesting over four years. |
| October 31, 2028 | Fourth vesting date for 1,278 restricted stock units vesting over four years. |
| November 04, 2024 | Date of signature by Attorney-in-Fact. |
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