Form 4: US Foods Executive David Rickard Disposes of Shares Upon Separation of Service
SEC Form 4
David Rickard, EVP of Strategy and Revenue Management at US Foods Holding Corp., sold shares of common stock following the exercise of stock options in connection with his upcoming separation of service.
Summary
- David Rickard, EVP of Strategy and Revenue Management at US Foods Holding Corp., filed a Form 4 on March 13, 2024, regarding changes in beneficial ownership.
- On March 11, 2024, Rickard exercised employee stock options to acquire 17,206 shares at $23.18 and 15,252 shares at $13.29.
- Rickard then disposed of 11,701 shares at prices ranging from $52.53 to $52.59.
- He also disposed of 20,757 shares to cover tax obligations.
- Following these transactions, Rickard beneficially owns 148,561 shares of US Foods Holding Corp.
- The disposition of securities is related to Rickard's separation of service, which will occur on March 31, 2024.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing executive stock transactions. It doesn't inherently convey positive or negative sentiment.
Future Outlook
The document does not contain any specific forward-looking statements regarding the company's future performance.
Industry Context
Executive stock transactions are common and often related to compensation packages and personal financial planning. The sale of shares upon separation of service is a typical event.
Comparison to Industry Standards
- Executive compensation structures, including stock options, are standard practice among publicly traded companies like US Foods.
- Companies such as Sysco and Performance Food Group also utilize stock options as part of their executive compensation packages.
- The vesting schedules and exercise prices of these options are generally aligned with industry norms to incentivize long-term performance and retention.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| EVP Strategy Revenue Mgmt | David Rickard | 03/31/2024 | Separation of service |
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the overall effect is likely minimal.
- Employees may be affected by the departure of the executive, but the company likely has a transition plan in place.
Key Dates
| Date | Description |
|---|---|
| June 23, 2016 | Time-based stock options granted. |
| March 23, 2020 | Stock option granted. |
| November 8, 2023 | Power of Attorney executed. |
| March 11, 2024 | Transactions (exercise of options and sale of shares) occurred. |
| March 13, 2024 | Form 4 filing date. |
| March 31, 2024 | David Rickard's separation of service date. |
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