CAVA CAO sells 757 shares in tax-cover trade
Sentiment and the balance of points
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Rhea-AI Filing Summary
CAVA GROUP, INC. Chief Accounting Officer Adam David Phillips reported an open-market sale of 757 shares of common stock at a weighted average price of $89.43 per share. According to the footnotes, this was a mandatory “sell to cover” transaction to satisfy tax withholding obligations tied to the vesting of restricted stock units, rather than a discretionary trade. After the sale, he holds 6,848 shares, which the footnotes state includes unvested RSUs.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 757 | $89.43 | $68K |
Footnotes (3)
- F1. The sales reported on this Form 4 represent shares of Common Stock required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of restricted stock units ("RSUs"). These sales are mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and do not represent discretionary trades by the Reporting Person.
- F2. The price reported in column 4 represents the weighted average price of 69,803 shares of Common Stock sold by the broker on behalf of employees of the Issuer as a result of mandatory sell to cover transactions associated with the vesting of RSUs. These shares were sold in multiple transactions at prices ranging from $89.00 to $89.87, inclusive. The proceeds of all such sales were allocated to the employees, including the Reporting Person, on a pro rata basis. The Reporting Person undertakes to provide to the Issuer, any securityholder of the Issuer, 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 range set forth in this footnote (2) to this Form 4.
- F3. Includes unvested RSUs.
Key Figures
Key Terms
sell to cover financial
restricted stock units ("RSUs") financial
weighted average price financial
equity incentive plans financial
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