Central Garden & Pet (CENT) director exercises options and receives new stock grant
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Central Garden & Pet director Mary Beth Springer reported several equity transactions in Class A Common Stock on February 11, 2026. She exercised a stock option covering 8,803 shares at an exercise price of $22.72 per share, converting a previously granted option into common shares.
To cover the option exercise price or related tax obligations, 5,948 shares of Class A Common Stock were withheld by the company at a reference price of $33.63 per share. She also received a restricted stock award of 3,584 shares at no cost under the company’s Nonemployee Director Equity Incentive Plan, ending with direct ownership of 26,631 Class A shares after these transactions.
Positive
- None.
Negative
- None.
Insider Trade Summary
8,803 shares exercised/converted
Mixed
4 txns
Insider
SPRINGER MARY BETH
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right to Buy) | 8,803 | $0.00 | -- |
| Exercise | Class A Common Stock | 8,803 | $22.72 | $200K |
| Tax Withholding | Class A Common Stock | 5,948 | $33.63 | $200K |
| Grant/Award | Class A Common Stock | 3,584 | $0.00 | -- |
Holdings After Transaction:
Stock Option (Right to Buy) — 0 shares (Direct);
Class A Common Stock — 28,995 shares (Direct)
Footnotes (1)
- On December 7, 2023, Company declared a stock dividend, payable to all holders on record of Common Stock and Class A Common Stock as of January 8, 2024, of one share of Class A Common Stock for every four shares of Common Stock and Class A Common Stock outstanding. At the same time, pursuant to anti-dilution provisions, an option for 7,043 shares Class A Common Stock on January 8, 2024 became exercisable for 8,803 shares of Class A Common Stock. Shares withheld by the Issuer in payment of the aggregate option exercise price incurred upon the above-reported exercise of options. The amount of shares withheld is based on the respective average of the high and low sales prices on the date of exercise. Restricted stock award granted under the Company's Nonemployee Director Equity Incentive Plan, as amended. This option was previously reported as an option for 7,043 shares of Class A Common Stock at an exercise price of $28.40 per share, but was adjusted to reflect the stock dividend declared by Company on December 7, 2023. As a result of the stock dividend, the option also entitled the Reporting Person to receive, upon exercise, 1,760 shares of Class A Common Stock for no additional consideration. Options were granted on February 11, 2020, and all shares are vested and have been exercised.
FAQ
What insider transactions did CENT director Mary Beth Springer report?
Mary Beth Springer reported exercising options for 8,803 Class A shares, having 5,948 shares withheld to cover costs, and receiving a 3,584-share restricted stock award. All transactions occurred on February 11, 2026 and involved direct ownership.
What was the option exercise price in the CENT Form 4 filing?
The stock option exercised by Mary Beth Springer carried an exercise price of $22.72 per share for 8,803 Class A shares. This option had been adjusted for a prior stock dividend and was fully vested and exercised as of the reported transaction date.
How did a prior stock dividend affect Mary Beth Springer’s CENT option?
A stock dividend declared on December 7, 2023 adjusted her option from 7,043 to 8,803 shares and reduced the exercise price. The adjustment also entitled her to an additional 1,760 Class A shares upon exercise for no extra consideration, under anti-dilution provisions.