Pappas Christopher 4

What Happened Christopher Pappas, President, CEO and a director of Chefs' Warehouse (CHEF), reported two transactions: he gifted 79,950 shares of CHEF common stock to a charitable trust on May 4, 2026 (gifted shares carry no cash value to him), and he disposed of 125,000 shares in an open-market/private sale on May 5, 2026 at $78.00 per share for a total of $9,750,000. The filing (Accession 0000947871-26-000493) was submitted on May 5, 2026.

Key Details

• Transaction dates and prices:
  • May 4, 2026 — Gift of 79,950 shares (code G) — $0.00 proceeds.
  • May 5, 2026 — Open-market/private sale of 125,000 shares (code S) at $78.00 — $9,750,000 total.
• Shares owned after transaction: not specified in the information provided in this summary (not disclosed here).
• Footnote: The May 4 gift (F1) was a contribution to a charitable trust; neither Mr. Pappas nor any family member is a trustee or controls the trust's investment decisions.
• Filing timeliness: Report filed May 5, 2026 — appears timely under Form 4 reporting rules (filed within required period).

Context

• Gifts to charitable trusts are typically estate/charitable planning actions and do not necessarily reflect the insider’s view of the company’s prospects. The gift had no cash proceeds.
• The open-market/private sale generated significant cash (~$9.75M). Sales by insiders can be routine (liquidity, diversification, tax planning) and are not in themselves a definitive negative signal about company fundamentals.