Kaiser Kelly M 4

What Happened

• Kelly M. Kaiser, General Counsel and Secretary of Portillo's (PTLO), had 1,840 shares disposed on May 2, 2026 to satisfy tax withholding obligations related to a previously disclosed award. The shares were recorded at $6.49 each for a total value of $11,942. This was a tax-withholding disposition (routine), not an open-market sale indicating a directional bet.

Key Details

• Transaction date and price: May 2, 2026 — 1,840 shares at $6.49 per share (total $11,942).
• Transaction code: F — shares withheld/used to satisfy tax withholding on vesting of an award.
• Footnote: F1 — represents shares deducted to satisfy tax withholding obligations on the vesting of a previously disclosed award.
• Shares owned after transaction: Not reported in the provided Form 4.
• Filing date/timeliness: Filed May 4, 2026 — appears timely (within the standard two-business-day Form 4 reporting window).

Context

• This was a cashless-type disposition to cover tax withholding when equity awards vest, a common administrative action that does not necessarily reflect the insider's view of the company.