May Holly 4

What Happened
May Holly, Chief Human Resources Officer of Petco Health & Wellness Company (WOOF), received two equity awards on February 17, 2026: 201,582 restricted stock units (RSUs) and 132,296 target performance stock units (PSUs). Both grants were reported at $0 per share because they are compensation awards (derivative grants), not open-market purchases or sales.

Key Details

• Transaction date reported: February 17, 2026; Form 4 filed February 19, 2026.
• Awards: 201,582 RSUs (F1) and 132,296 target PSUs (F2). Reported price = $0.00 (awarded, not purchased).
• RSU vesting schedule (per footnote F1): 34% on the 1st anniversary, then 16.5% at 18 months, 16.5% at 2 years, 16.5% at 30 months, and 16.5% at 3 years from grant date.
• PSU terms (per footnote F2): Target number = 132,296; payout can be 0%–200% of target based on performance through a period ending Feb 3, 2029, using the 20-day VWAP at the end of the period and subject to continued employment.
• Shares owned after the transaction: not disclosed in the supplied filing.
• Filing timeliness: Form filed two days after the grant date (within the typical 2-business-day Form 4 reporting window).

Context
These are compensation grants (derivative awards). RSUs convert to shares (or cash equivalent) as they vest; PSUs are performance-based and may pay out more or fewer shares than the target depending on results. Grants are routine for executives and do not by themselves indicate buying or selling sentiment.