Kaiser Kelly M 4

What Happened Kelly M. Kaiser, General Counsel and Secretary of Portillo's, was granted 40,760 restricted stock units (RSUs) on April 15, 2026 (reported as an Award/Grant). On the same date, 1,805 shares were disposed (withheld) at $5.52 per share to satisfy tax withholding obligations, totaling $9,964. The RSU grant is an award (not a purchase) and does not represent an open-market buy; withholding of shares for taxes is a routine disposition.

Key Details

• Transaction date: April 15, 2026.
• Award: 40,760 RSUs granted (Code A) at $0.00 acquisition price.
• Tax withholding: 1,805 shares withheld (Code F) at $5.52 per share, $9,964 total.
• Shares owned after transaction: not disclosed in the provided filing excerpt.
• Footnotes:
  • F1: RSUs are time‑based, with one‑third vesting on each of the first three anniversaries of the April 15, 2026 grant, subject to continued service and the award agreement.
  • F2: The 1,805 shares were deducted to satisfy tax withholding obligations on the vesting of previously disclosed awards.
• Filing timeliness: No indication in the provided information that this Form 4 was filed late.

Context RSU grants reward and retain executives but are not direct purchases by insiders; they typically vest over time (here, over three years). The withheld shares simply cover tax liabilities and are a routine administrative step rather than a market sentiment signal. For derivative/award transactions like this, note the economic benefit is realized as RSUs vest according to the schedule, not at grant.