4/A: US Foods Executive David L. Poe Jr. Adjusts Holdings After Performance-Based Stock Unit Vesting
SEC Filing (Form 4/A)
David L. Poe Jr., EVP and Chief Merchant at US Foods Holding Corp., amended his Form 4 filing to reflect adjustments to performance-based restricted stock units and total shares held.
Summary
- David L. Poe Jr., an executive at US Foods Holding Corp., filed an amended Form 4 with the SEC.
- The amendment corrects a previous filing from February 26, 2025, regarding changes in beneficial ownership.
- The filing reflects an adjustment to performance-based restricted stock units granted on March 28, 2022, based on the company's performance over the three-year period ending December 28, 2024.
- Poe acquired 4,801 shares of common stock on February 24, 2025, due to the vesting of these performance-based units.
- As of March 27, 2025, Poe's total holdings amount to 32,762 shares.
- Poe has granted power of attorney to Martha Ha, Stephanie D. Miller, and Brett R. Schroeder to handle SEC filings on his behalf.
Sentiment
Score: 7
Explanation: The document reflects a routine adjustment in executive holdings due to the vesting of performance-based stock units, indicating the company met certain performance goals. This is generally a positive sign, but not significantly impactful.
Positives
- The vesting of performance-based restricted stock units suggests that US Foods Holding Corp. met certain pre-established performance goals.
Future Outlook
The restricted stock units will vest on March 28, 2025, subject to the reporting person's continued employment with the Issuer through the vesting date.
Industry Context
Executive stock ownership and vesting schedules are common practices in publicly traded companies like US Foods to align management's interests with those of shareholders.
Comparison to Industry Standards
- Executive compensation packages often include performance-based equity awards, similar to those granted to David L. Poe Jr. at US Foods.
- Companies like Sysco and Performance Food Group also utilize stock options and restricted stock units as part of their executive compensation plans.
- The vesting of these units is typically tied to the achievement of specific financial or operational targets, aligning executive incentives with company performance.
Stakeholder Impact
- The vesting of performance-based stock units can positively impact shareholders by aligning executive interests with company performance.
- Employees may view the achievement of performance goals as a positive indicator of the company's success.
Key Dates
| Date | Description |
|---|---|
| March 28, 2022 | Date of grant for the performance-based restricted stock units. |
| December 28, 2024 | End of the three-year performance period for the restricted stock units. |
| February 24, 2025 | Date of transaction where shares were acquired due to vesting of restricted stock units. |
| February 26, 2025 | Date of original Form 4 filing that this amendment corrects. |
| March 27, 2025 | Date reflecting total shares held after the reported transaction. |
| March 28, 2025 | Vesting date of the restricted stock units, subject to continued employment. |
| April 01, 2025 | Date of signature for the amended filing. |
Keywords
US Foods Holding Corp., David L. Poe Jr., Form 4, SEC, Beneficial Ownership, Restricted Stock Units, Performance-Based, Power of Attorney, Martha Ha, Stephanie D. Miller, Brett R. Schroeder
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