Walker John D. III 4
4 · CENTRAL GARDEN & PET CO · Filed Jun 17, 2026
Research Summary
AI-generated summary of this filing
CENT Walker John D. III (President) Exercises Options, Sells Shares
What Happened
John D. Walker III, President of Garden Consumer Products at Central Garden & Pet (CENTA / CENT), exercised stock options on June 15, 2026. The reported exercise converted options into 8,518 shares at an effective option price of $35.22 per share (total value recorded $299,970). To cover the exercise price and tax withholding, the company withheld 8,200 shares (treated as a disposition) based on an average market price of $37.75 per share (approx. $309,550). The filing also reflects adjustment related to a prior stock dividend that increased the option share count.
Key Details
- Transaction date: 2026-06-15; Form 4 filed: 2026-06-17 (timely filing).
- Exercise: 8,518 shares acquired at $35.22 each (aggregate value $299,970).
- Shares withheld (tax/exercise payment): 8,200 shares disposed at $37.75 avg (aggregate value $309,550).
- Report shows a related derivative/adjustment entry tied to the stock-dividend adjustment (no cash value).
- Shares owned after the transaction: not provided in the excerpt.
- Relevant footnotes: stock dividend on Dec 7, 2023 adjusted the option from 6,815 to 8,518 shares (included 1,703 shares payable for no additional consideration); shares were withheld by the issuer to pay exercise price and withholding tax; options were granted Feb 9, 2021 and were vested.
Context: This was an options exercise with a cashless element—shares were withheld to satisfy the exercise price and tax obligations (common practice). Exercises and share-withholdings are routine insider transactions and do not by themselves indicate a change in insider sentiment.
Insider Transaction Report
- Exercise/Conversion
Class A Common Stock
[F1]2026-06-15$35.22/sh+8,518$299,970→ 77,879 total - Tax Payment
Class A Common Stock
[F2]2026-06-15$37.75/sh−8,200$309,550→ 69,679 total - Exercise/Conversion
Stock Option (Right to Buy)
[F4][F5]2026-06-15−8,518→ 0 totalExercise: $35.22Exp: 2027-02-09→ Class A Common Stock (8,518 underlying)
- 2,675(indirect: By 401(k))
Units
[F3]
Footnotes (5)
- [F1]On December 7, 2023, Company declared a stock dividend, payable to all holders on record of Common Stock and Class A Common Stock as of January 8, 2024, of one share of Class A Common Stock for every four shares of Common Stock and Class A Common Stock outstanding. At the same time, pursuant to anti-dilution provisions, an option for 6,815 shares Class A Common Stock on January 8, 2024 became exercisable for 8,518 shares of Class A Common Stock.
- [F2]Shares withheld by the Issuer in payment of the aggregate option exercise price and withholding tax liability incurred upon the above-reported exercise of options. The amount of shares withheld is based on the respective average of the high and low sales prices on the date of exercise.
- [F3]The units represent interests in the CENTA Stock Fund in the Issuer's 401(k) Plan, which consist of shares of CENTA stock and cash.
- [F4]This option was previously reported as an option for 6,815 shares of Class A Common Stock at an exercise price of $44.020 per share, but was adjusted to reflect the stock dividend declared by Company on December 7, 2023. As a result of the stock dividend, the option also entitled the Reporting Person to receive, upon exercise, 1,703 shares of Class A Common Stock for no additional consideration.
- [F5]Options were granted on February 9, 2021, and all shares are vested and have been exercised.