Yesway, Inc.·4

Apr 28, 4:19 PM ET

Brown Thomas Warren 4

Research Summary

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Yesway (YSWY) Director Thomas Warren Receives Stock Awards

What Happened
Director Thomas Warren was the recipient of multiple equity awards in Yesway, Inc., with reported acquisitions on April 21 and April 24, 2026. The filings show a total of 503,249 shares/units involved: 105,209 and 2,040 reported on April 21 and two grants of 198,000 each on April 24. All grants are reported at a $0 per-share price (no cash paid). Some April 21 entries also reflect reclassification/disposition of previously reported holdings into derivative form per the footnotes.

Key Details

  • Transaction dates: April 21, 2026 and April 24, 2026; Form 4 filed April 28, 2026 (appears later than the usual two-business-day Form 4 deadline).
  • Grants reported: 105,209; 2,040; 198,000; 198,000 — total 503,249 shares/units. Prices reported $0 (awarded, not purchased).
  • Shares owned after transaction: not specified in the provided excerpt of the filing.
  • Footnotes of note:
    • F1/F2: Some securities were part of the issuer’s IPO reorganization or were reclassified from previously reported direct holdings.
    • F3: RSUs vest in three equal annual installments beginning on the first anniversary of the registration statement effectiveness.
    • F4/F5: PSUs are performance-based — 50% vests on meeting a 1.5x price hurdle (or 2nd anniversary), the other 50% on a 2.0x hurdle (or 3rd anniversary); unvested PSUs forfeit if conditions not met by the 5th anniversary.
    • F6: LLC membership units are redeemable 1-for-1 for Class A common stock and have no expiration.
  • No open-market purchases or sales reported; these are grants/award transactions (code A).

Context
These are equity awards and redeployments tied to Yesway’s IPO and compensation plan, not open-market purchases or sales. RSUs vest over time; PSUs depend on stock-price performance and time-based backstops, so they are contingent and may not convert to shares unless conditions are met. Reclassifications and zero-dollar grant reporting are common in IPO reorganizations and awards; they do not necessarily indicate a personal cash investment or immediate selling by the insider.