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Sysco Corporation (SYY) – Form 4, filed 24 Jul 2025: EVP & CHRO Ronald L. Phillips exercised three tranches of employee stock options on 23 Jul 2025—30,358 shares at $76.94, 962 shares at $69.95, and 6,286 shares at $74.85 (total 37,606 shares). He simultaneously sold the same number of shares at a fixed price of $81.00 under a pre-arranged Rule 10b5-1 plan.
- Gross sale proceeds: ≈ $3.04 million.
- Exercise cost: ≈ $2.87 million.
- Estimated pre-tax spread: ≈ $0.17 million.
- Post-transaction common shares owned: 30,234.963 (down ≈ 55%).
- Remaining vested options: 1,922 at $69.95 (exp. 9 Sep 2033) and 12,571 at $74.85 (exp. 9 Aug 2033); the $76.94 grant is fully exercised.
The filing signals a sizable reduction in the insider’s direct equity stake, though sales were executed via a 10b5-1 plan, mitigating concerns about timing. No new option grants or company-level financial data are disclosed.