TRKLA THOMAS N. 4

What Happened
Thomas N. Trkla (Chairman, President & CEO; 10% owner) reported multiple awards/acquisitions and related derivative conversions tied to Yesway’s IPO/reorganization. Between Apr 21 and Apr 24, 2026 he was reported to have acquired roughly 48.39 million shares (many entries reported at $0.00 or N/A). Several matching derivative entries (reported at $0.00) indicate conversion or reclassification of pre‑IPO/LLC interests or other derivative holdings into common stock rather than open‑market sales.

Key Details

• Transaction dates: primarily Apr 21, 2026 (majority of awards/conversions) and two additional grants on Apr 24, 2026 (1,080,000 shares each at $0.00).
• Reported amounts (selected): 15,085,561; 19,735,435; 9,367,808; 1,686,923; 267,804; 70,777; 10,712 and two grants of 1,080,000 each — total ≈ 48,385,020 shares.
• Reported price/value: most entries shown as $0.00 or N/A (acquisitions and derivative disposals), indicating awards/reorganization transfers, not cash purchases or market sales.
• Derivative entries: multiple disposals listed as derivative transactions at $0.00 — consistent with conversion/reclassification of pre‑IPO/LLC interests into Class A common stock.
• Footnotes of note: F1 (securities from issuer reorganization/IPO), F8 (RSUs vesting over 3 years), F9/F10 (performance-based RSUs with price/time vesting hurdles and forfeiture rule), F11 (LLC interests redeemable 1:1 into Class A shares).
• Ownership after transaction: not specified in the provided data.
• Filing timing: Form 4 filed Apr 28, 2026 for transactions dated Apr 21–24, which is beyond the typical two-business-day Form 4 window (the filing shows Apr 28).

Context

• These entries look like internal reorganization/award activity tied to Yesway’s IPO and related unit-to-share conversions rather than open-market buys or sales. Such transactions often reflect corporate restructuring, redemption/conversion rights, or long‑term equity awards (RSUs/PSUs) rather than a trading view by the insider.
• PSUs and RSUs reported include vesting conditions (time- and performance-based); unvested awards may be forfeited if conditions aren’t met (see F9/F10).
• As a 10% owner with controlling interests in related entities (see footnotes F2–F7), Mr. Trkla’s holdings may include securities held by affiliated entities and LLC interests that can be redeemed into Class A shares (F11).