Form 4: Vestis Corp Executive Timothy Donovan Reports Changes in Beneficial Ownership

EVP, CLO, and General Counsel of Vestis Corp, Timothy Donovan, reports the acquisition and disposal of common stock due to accrual of restricted stock units related to dividends and performance stock units.

Summary

• On April 4, 2024, Timothy Donovan, EVP, CLO, and General Counsel of Vestis Corp, reported changes in beneficial ownership of Vestis Corp [VSTS] common stock.
• Donovan acquired 55.503 shares of common stock at $0, and disposed of 35,899.623 shares.
• These transactions resulted in Donovan beneficially owning 35,899.623 shares of Vestis Corp common stock following the reported transactions.
• The acquisition of shares represents the accrual of additional restricted stock units (RSUs) in connection with Vestis Corp's quarterly dividend on previously awarded RSUs and the portion of previously granted performance stock units (PSUs) that were determined to be earned and thus reported as RSUs.
• The additional units vest on the same schedules as the underlying awards to which they relate.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing related to executive compensation. It doesn't indicate any significant positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and directors.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership, but it is primarily related to executive compensation.

Key Dates