Bloomin' Brands (BLMN) CLO converts 2,396 RSUs, 1,070 shares withheld for tax
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Bloomin' Brands executive vice president and chief legal officer Kelly Lefferts exercised restricted stock units and had shares withheld to cover taxes. On the transaction date, 2,396 RSUs converted into 2,396 shares of common stock at no cost, and 1,070 shares were withheld at $6.47 per share to satisfy tax obligations. After these moves, Lefferts directly owned 102,434 shares of Bloomin' Brands common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
2,396 shares exercised/converted
Mixed
3 txns
Insider
Lefferts Kelly
Role
EVP, Chief Legal Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 2,396 | $0.00 | -- |
| Exercise | Common Stock | 2,396 | $0.00 | -- |
| Tax Withholding | Common Stock | 1,070 | $6.47 | $7K |
Holdings After Transaction:
Restricted Stock Units — 0 shares (Direct);
Common Stock — 103,504 shares (Direct)
Footnotes (1)
- On February 22, 2023, these restricted stock units ("RSU") were granted in the original amount of 7,187, which vest in three equal annual installments, with a final vesting in 2026. 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 did Bloomin' Brands (BLMN) executive Kelly Lefferts report in this Form 4?
Kelly Lefferts reported exercising restricted stock units into 2,396 common shares and a related tax-withholding share disposition. The transactions reflect equity vesting and routine tax settlement rather than an open-market stock purchase or sale.
Was Kelly Lefferts' Bloomin' Brands (BLMN) Form 4 an open-market trade?
No, the Form 4 shows RSU conversion and tax-withholding, not open-market trading. Shares were issued at no cost upon vesting, and 1,070 shares were withheld by Bloomin' Brands to satisfy tax liabilities tied to the vesting.