Singh Sumit 4

What Happened

• Sumit Singh, CEO of Chewy, had 30,267 shares and 5,090 shares withheld on Feb 27, 2026 to satisfy tax withholding related to net settlement of vested restricted stock units (RSUs). Each block was valued at $26.97 per share: $816,301 and $137,277 respectively, for a combined value of ~$953,578.
• These were tax-withholding/net-settlement transactions (transaction code F) and were not open-market sales.

Key Details

• Transaction date: 2026-02-27. Form 4 filed: 2026-03-03 (timely within required reporting window).
• Price: $26.97 per share; Shares withheld: 30,267 and 5,090; Combined shares: 35,357; Combined value: ~$953,578.
• Shares owned after transaction: not provided in the excerpt of the filing.
• Footnotes F1 and F2 state the shares were withheld to satisfy tax withholding/remittance on net-settled RSUs and do not represent market transactions; exempt from Section 16(b) under Rule 16b-3(e).
• Additional footnotes (F3–F11) describe various RSU/PRSU grants and vesting schedules for the CEO and the CEO’s spouse (timing and performance-based vesting details).

Context

• This was a net settlement/tax withholding of vested RSUs — common executive compensation mechanics — not a discretionary open-market sale. Tax-withholding transactions (code F) generally do not indicate insider sentiment about the company’s prospects.
• Rule 16b-3(e) exemption means these withholdings are treated as administrative and not subject to short-swing profit recovery under Section 16(b).