Venezia Patrick J 4

What Happened

• Patrick J. Venezia, Chief Revenue Officer of Petco Health & Wellness (WOOF), exercised stock options to acquire 58,805 shares at $2.46 per share (total cost $144,660) and reported a derivative disposition of 58,805 shares at $0. He also sold 102,029 shares in open-market transactions at a weighted average price of $3.42, generating $349,072 in proceeds. All transactions are reported for March 13, 2026 and the Form 4 was filed March 17, 2026.

Key Details

• Transaction date: March 13, 2026; Form 4 filed: March 17, 2026 (timely).
• Option exercise: 58,805 shares acquired at $2.46 each = $144,660.
• Open-market sale: 102,029 shares sold; weighted avg price $3.42; total proceeds $349,072. Sale prices ranged $3.390–$3.455 (see footnote F2).
• A derivative disposal of 58,805 shares is also reported at $0 in the filing.
• Footnotes: F1 notes 398,832 outstanding RSUs under the 2021 Plan; F3 describes the option vesting schedule. The filing does not state total shares beneficially owned following these transactions.

Context

• The filing shows an options exercise (derivative code M) and an open-market sale (code S). When an insider exercises options and sells shares the same day, it can be a cashless or partially offsetting action, but the Form 4 here does not explicitly state the mechanics or reason.
• Sales are often routine (liquidity or tax-related); purchases can be viewed as a stronger signal of confidence. This report is factual disclosure of the insider’s transactions and does not provide the insider’s motivations.