Petco (WOOF) CEO Joel Anderson Transfers 705,000 Shares

What Happened

• Joel D. Anderson, CEO of Petco Health & Wellness (WOOF), effected a change in the form of beneficial ownership on September 22, 2026 by moving 705,000 shares of Class A common stock from a Revocable Trust into a 2020 Trust. The transaction is reported as a disposition at $2.37 per share, totaling $1,670,850, but it represents an internal trust-to-trust transfer rather than an open-market sale.

Key Details

• Transaction date: September 22, 2026; reported on Form 4 filed September 24, 2026 (reporting period 9/22/2026).
• Reported amount: 705,000 shares at $2.37 per share; total value reported $1,670,850.
• Transaction code: J (other acquisition or disposition). Footnote states the transfer is a change in the form of beneficial ownership and is claimed exempt under Rule 16a-13 of the Securities Exchange Act.
• Net beneficial ownership: The filing indicates a decrease in shares beneficially owned indirectly through the Revocable Trust and a corresponding increase through the 2020 Trust — i.e., the move shifts where shares are held but does not indicate a net sale of the insider’s holdings.
• Related prior transfers: On August 4 and September 15, 2026, Anderson transferred 246,269 and 285,061 shares, respectively, from his direct holdings into the Revocable Trust (see footnote).
• Outstanding RSUs: The filing also notes 1,347,723 outstanding restricted stock units (RSUs) that represent rights to receive shares under the company’s 2021 Equity Incentive Plan.

Context

• This is an intra-party trust transfer (change in form), not an open-market sale or purchase; such transfers are commonly administrative or estate-planning moves and are exempt under Rule 16a-13. For investors, purchases typically carry more interpretive weight as bullish signals; trust transfers generally do not convey a change in the insider’s view of the company. The Form 4 appears to have been filed promptly after the transfer.