CAKE CEO exercises options, sells 104K shares via trust
CHEESECAKE FACTORY INC chairman and CEO David Overton reported option exercises and related share sales by a family trust.
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Form Type
4
Rhea-AI Filing Summary
CHEESECAKE FACTORY INC chairman and CEO David Overton reported option exercises and related share sales by a family trust. On May 1, 2026, a trust for his benefit exercised 104,000 employee stock options at $46.03 per share to acquire the same number of common shares, then sold 104,000 common shares in open-market transactions at a weighted average price of $61.02 per share. After these transactions, the trust held 3,079,779 common shares, while additional indirect trusts held 183,950 and 60,211 shares and direct holdings totaled 264,865 shares, including restricted stock subject to forfeiture.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
6 txns
Insider
OVERTON DAVID
Role
CHAIRMAN AND C.E.O.
Sold
104,000 shs ($6.35M)
Approx. gross sale proceeds
$6.35M
Approx. exercise cost
$4.79M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (right to buy) | 104,000 | $0.00 | $0.00 |
| Exercise | Common Stock | 104,000 | $46.03 | $4.79M |
| Sale | Common Stock | 104,000 | $61.02 | $6.35M |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Employee Stock Option (right to buy) — 0 contracts (Direct);
Common Stock — 3,323,940 shares (Indirect, By Trust);
Common Stock — 264,865 shares (Direct)
Footnotes (5)
- F1. Shares held by the David M. Overton Family Trust of which Mr. Overton is trustee.
- F2. The price reported within column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $59.60 to $62.37, inclusive. The reporting person undertakes to provide to CAKE Corporation, any security holder of CAKE Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (2) to this Form 4.
- F3. Shares of restricted stock subject to forfeiture.
- F4. Shares held by Mr. Overton's spouse as trustee for the Sheila A. Overton Living Trust. The reporting person disclaims beneficial ownership of these securities.
- F5. Shares held by the David M. Overton 2011 Gift Trust UTA dated 11/23/2011 for the benefit of the reporting person's son. The reporting person's spouse is trustee of the trust. The reporting person disclaims beneficial ownership of these securities.
Key Figures
Shares sold: 104,000 shares
Sale price (weighted average): $61.02/share
Options exercised: 104,000 options
+4 more
7 metrics
Shares sold
104,000 shares
Open-market sale on May 1, 2026
Sale price (weighted average)
$61.02/share
Common stock sale by family trust
Options exercised
104,000 options
Employee stock option exercise on May 1, 2026
Option exercise price
$46.03/share
Employee Stock Option (right to buy)
Family trust holdings after trades
3,079,779 shares
Common stock held indirectly by David M. Overton Family Trust
Other indirect trust holdings
183,950 and 60,211 shares
Common stock held by additional trusts
Direct holdings
264,865 shares
Common stock held directly, including restricted stock
Key Terms
Employee Stock Option (right to buy), weighted average price, restricted stock, open-market sale, +1 more
5 terms
Employee Stock Option (right to buy) financial
"security_title": "Employee Stock Option (right to buy)"
weighted average price financial
"The price reported within column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
restricted stock financial
"Shares of restricted stock subject to forfeiture."
Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.
open-market sale financial
"transaction_action": "open-market sale""
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
Form 4 regulatory
"within the ranges set forth in footnote (2) to this Form 4."
Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did CAKE chairman David Overton report on May 1, 2026?
David Overton reported his family trust exercised 104,000 stock options at $46.03 per share, then sold 104,000 Cheesecake Factory common shares at a weighted average price of $61.02 per share, turning an option position into cash while keeping his overall equity exposure.
What was the option exercise price in David Overton’s May 2026 CAKE Form 4 filing?
The employee stock options exercised on May 1, 2026 carried a conversion or exercise price of $46.03 per share. Exercising these options allowed a trust associated with David Overton to acquire 104,000 Cheesecake Factory common shares before selling the same number.
What other Cheesecake Factory (CAKE) holdings does David Overton report besides the family trust?
In addition to the family trust’s 3,079,779 shares, David Overton reports indirect holdings of 183,950 and 60,211 shares through other trusts and 264,865 shares held directly, including restricted stock subject to forfeiture, giving a fuller picture of his overall reported equity exposure.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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