Portillo's (PTLO) CIO Keith M. Correia Withholds 1,226 Shares for Taxes

What Happened

• Keith M. Correia, Chief Information Officer of Portillo's, had 1,226 shares deducted/withheld to satisfy tax withholding obligations related to the vesting of a previously disclosed award. The shares were recorded as disposed at $6.49 per share, a total value of $7,957.
• This transaction reflects tax withholding on a vesting award (routine) rather than an open-market sale or a new purchase and does not necessarily indicate a change in insider sentiment.

Key Details

• Transaction date: 2026-05-02; filing date: 2026-05-04.
• Transaction type/code: F — payment of exercise price or tax liability (shares withheld to cover taxes).
• Shares withheld/disposed: 1,226 at $6.49 each; total value $7,957.
• Shares owned after the transaction: Not disclosed in this filing.
• Footnote: F1 — Represents shares deducted to satisfy tax withholding obligations on the vesting of a previously disclosed award.
• Timeliness: Filed two days after the transaction (no late filing indicated in this report).

Context

• This was a tax-withholding/cashless-type disposition tied to award vesting, not an open-market sale for cash proceeds. Such withholdings are routine and common when equity awards vest; they generally don't signal the insider buying or selling based on company prospects.