Form 4: Vestis Corp President and CEO, Kim Scott, Reports Stock Disposal for Tax Obligations

Kim Scott, President and CEO of Vestis Corp, disposed of 10,935 shares of common stock on September 27, 2024, to cover tax obligations related to vesting restricted stock units.

Summary

• On September 27, 2024, Kim Scott, the President and CEO of Vestis Corp, reported a transaction involving the disposal of 10,935 shares of Vestis Corp common stock.
• The shares were disposed of at a price of $15.32 per share.
• This transaction was executed to cover tax obligations arising from the vesting of restricted stock units.
• Following the transaction, Kim Scott directly owns 172,847.025 shares of Vestis Corp.
• The transaction was reported on October 1, 2024.

Sentiment

Score: 5

Explanation: Neutral sentiment as it's a standard disclosure of stock disposal for tax purposes.

Industry Context

This is a routine disclosure related to insider transactions, specifically the disposal of shares to cover tax obligations. It's a common practice among executives who receive stock-based compensation.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine disposal of shares for tax purposes and does not indicate a change in the executive's long-term outlook on the company.

Key Dates