B&G Foods (NYSE: BGS) grants restricted stock, withholds shares for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
B&G Foods, Inc. reported that VP and Chief Accounting Officer Michael Adasczik received a grant of 14,991 shares of restricted common stock under the company’s Omnibus Incentive Compensation Plan. These restricted shares vest in three equal installments on March 25, 2027, March 25, 2028 and March 25, 2029.
On the same date, 2,625 shares of common stock were withheld by B&G Foods at $5.11 per share to satisfy tax withholding obligations tied to the vesting of 7,664 previously granted restricted shares. Following these transactions, Adasczik directly holds 49,673 shares of common stock. The tax withholding is a non-market disposition rather than an open-market sale.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Adasczik Michael
Role
VP, CHIEF ACCOUNTING OFFICER
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 14,991 | $0.00 | -- |
| Tax Withholding | Common Stock | 2,625 | $5.11 | $13K |
Holdings After Transaction:
Common Stock — 52,298 shares (Direct)
Footnotes (1)
- Represents shares of restricted stock granted to the reporting person pursuant to the B&G Foods, Inc. Omnibus Incentive Compensation Plan. The shares of restricted stock vest one-third on each of March 25, 2027, March 25, 2028 and March 25, 2029. Represents shares of common stock withheld by B&G Foods to satisfy tax withholding obligations upon the vesting on March 25, 2026 of 7,664 shares of restricted stock, or one-third of the total number of shares of restricted stock, issued to the reporting person on March 24, 2023, March 25, 2024 and March 25, 2025 pursuant to the B&G Foods, Inc. Omnibus Incentive Compensation Plan.
FAQ
What insider stock transactions did BGS VP Michael Adasczik report?
Michael Adasczik reported a grant of 14,991 restricted B&G Foods shares and a withholding of 2,625 shares to cover tax obligations. These actions are compensation-related rather than open-market buying or selling of stock.
Was the BGS insider transaction an open-market stock sale?
No, the disposition was not an open-market sale. B&G Foods withheld 2,625 shares at $5.11 per share solely to satisfy tax withholding obligations triggered by the vesting of previously granted restricted stock awards.
What are the vesting terms of Michael Adasczik’s new BGS restricted stock?
The 14,991 restricted shares granted to Michael Adasczik vest in three equal installments. One-third vests on March 25, 2027, another third on March 25, 2028, and the final third on March 25, 2029, under the company’s Omnibus Incentive Compensation Plan.