Ferroni Stephen 4

What Happened Stephen Ferroni, Senior Vice President and Chief Accounting Officer of Burlington Stores (BURL), exercised options to acquire 1,032 shares at $135.37 per share (cost $139,702) on 2026-06-11 and then sold a total of 2,343 shares in open-market transactions the same day. The sales were: 1,032 shares at $337.11 ($347,898) and 1,311 shares at $337.31 ($442,213), for gross proceeds of approximately $790,111. One derivative-disposition line for 1,032 shares at $0.00 also appears in the filing (see Key Details).

Key Details

• Transaction date: 2026-06-11 (reported on Form 4 filed 2026-06-15).
• Exercise (code M): 1,032 shares acquired @ $135.37 = $139,702.
• Sales (code S): 1,032 shares @ $337.11 = $347,898; 1,311 shares @ $337.31 = $442,213; total proceeds ≈ $790,111.
• Additional derivative line: 1,032 shares disposed @ $0.00 (reported separately in the filing).
• Footnote F1: the options were exercisable as to 100% of the shares.
• Shares owned after the transactions: not specified in the provided filing.
• Filing timeliness: the Form 4 was filed on 2026-06-15 for transactions on 2026-06-11 (reported late).

Context This sequence shows an options exercise followed by immediate open-market sales (often called a cashless exercise when exercised shares are sold). The derivative-disposition line at $0.00 reflects how the filing records the option conversion/disposition; the filing does not state motivations. Late filing delays public disclosure of these trades until the Form 4 was submitted.