Portillo's (PTLO) GC Kelly M. Kaiser Withholds 437 Shares for Taxes

What Happened Kelly M. Kaiser, General Counsel and Secretary of Portillo's, had 437 shares withheld on 2026-09-05 to satisfy tax withholding obligations tied to the vesting of a previously disclosed award. The shares were valued at $4.42 each, for a total of approximately $1,932. This was a tax-withholding disposition (code F), not an open-market sale or purchase.

Key Details

• Transaction date: 2026-09-05; Form 4 filed: 2026-09-08.
• Transaction type/code: F — shares withheld to satisfy tax withholding on vesting.
• Shares withheld/disposed: 437 shares at $4.42/share; total ≈ $1,932.
• Shares owned after transaction: not specified in the provided filing.
• Footnote: F1 — represents shares deducted to satisfy tax withholding on the vesting of a previously disclosed award.
• Timeliness: filing dated 2026-09-08; no late-filing flag noted in the summary information provided.

Context Tax-withholding by retaining or “netting” shares upon vesting is a routine administrative action and is not the same as a voluntary sale in the open market. Such transactions generally do not indicate insider sentiment (buying or selling). Retail investors usually weigh open-market purchases or sales by insiders more heavily when assessing insider conviction.