Bloomin' Brands (NASDAQ: BLMN) legal chief converts RSUs, withholds shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Bloomin' Brands EVP and Chief Legal Officer Kelly Lefferts reported the vesting and conversion of 6,481 restricted stock units into 6,481 shares of common stock on March 3, 2026. Each RSU represents the right to receive one share of common stock upon vesting.
On the same date, 2,551 shares of common stock were withheld by the company at a price of $6.35 per share to cover tax withholding obligations tied to the RSU vesting. After these transactions, Lefferts directly held 117,604 shares of Bloomin' Brands common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
6,481 shares exercised/converted
Mixed
3 txns
Insider
Lefferts Kelly
Role
EVP, Chief Legal Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 6,481 | $0.00 | -- |
| Exercise | Common Stock | 6,481 | $0.00 | -- |
| Tax Withholding | Common Stock | 2,551 | $6.35 | $16K |
Holdings After Transaction:
Restricted Stock Units — 6,481 shares (Direct);
Common Stock — 120,155 shares (Direct)
Footnotes (1)
- On September 3, 2024, these restricted stock units ("RSU") were granted in the original amount of 25,924, which vest 50% on the 12-month anniversary of the grant date; 25% on the 18-month anniversary of the grant date; and 25% on the 24-month anniversary of the grant date; with a final vesting in 2026. This amount reflects a change of 31 shares originally reported in the reporting person's Form 4 filed on March 3, 2026, in which the number of shares withheld to satisfy tax withholding obligations was incorrect. These shares of common stock were withheld by the issuer to pay for the applicable withholding tax due upon vesting of certain RSUs. Each RSU represents the contingent right to receive one share of common stock of the issuer upon vesting of the unit. This field is not applicable.
FAQ
What insider transactions did Bloomin' Brands (BLMN) report for Kelly Lefferts?
Bloomin' Brands reported that Kelly Lefferts had 6,481 restricted stock units vest and convert into 6,481 common shares. On the same date, 2,551 shares were withheld by the company to cover tax obligations related to that RSU vesting.
Were the Bloomin' Brands (BLMN) Form 4 transactions open-market purchases or sales?
The Form 4 shows no open-market purchases or sales. The transactions involve RSU vesting and conversion into 6,481 common shares, plus a separate disposition of 2,551 shares withheld by the issuer solely to pay applicable tax withholding due on the vesting.
What is the background of the Bloomin' Brands RSUs reported for Kelly Lefferts?
The restricted stock units were granted on September 3, 2024 in an original amount of 25,924 units. They vest 50% on the 12‑month anniversary of the grant, 25% on the 18‑month anniversary, and 25% on the 24‑month anniversary, with final vesting in 2026.
Did the Bloomin' Brands Form 4 correct any previously reported amounts?
Yes. A footnote explains that the reported amount reflects a change of 31 shares from an earlier Form 4 filed on March 3, 2026, where the number of shares withheld to satisfy tax withholding obligations had been reported incorrectly.