Vecchio Jennifer 4

What Happened
Jennifer Vecchio, Group President and Chief Marketing Officer of Burlington Stores (BURL), exercised a total of 20,920 stock options on 2026-06-12 (two tranches: 10,534 shares at $170.08 and 10,386 shares at $179.46), paying about $3.66M in exercise costs. The same 20,920 shares were sold in multiple open-market transactions that day at weighted-average prices in the $338.73–$343.10 range, producing gross proceeds of approximately $7.14M. The filing shows two derivative disposition lines at $0 (option-related entries).

Key Details

• Transaction date: June 12, 2026; Form 4 filed June 16, 2026 (within the typical 2-business-day reporting window for a 6/12 trade).
• Options exercised: 10,534 shares @ $170.08 ($1,791,623) and 10,386 shares @ $179.46 ($1,863,872) — total exercise cost ≈ $3,655,495. (F7: options exercisable 100%.)
• Shares sold (open market): five tranches totaling 20,920 shares at weighted-average prices with ranges noted in footnotes — gross sale proceeds ≈ $7,144,823. Footnotes F1–F5 give the per-tranche price ranges and note weighted-average reporting.
• Two derivative “Disposed” entries at $0 were reported (related to the option activity). Footnote F6: some shares previously held by Vecchio as UTMA custodian were transferred to her children and are now held directly by them.
• Shares owned after the transactions: not specified in the excerpt provided.

Context

• This was effectively a cashless exercise/sell transaction: options were exercised and the resulting shares were sold the same day. That is a common, routine insider action to realize option value and/or cover exercise costs and tax obligations.
• The filing is factual and does not indicate motive; transfers noted in footnote F6 (UTMA) are custodial transfers and do not necessarily reflect personal trading intent.