[Form 4] Leslie's, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Amy College, Chief Merchandising and Supply Chain Officer of Leslie's, Inc. (LESL), reported a grant of 305,685 restricted stock units (RSUs) on 08/14/2025. Each RSU represents the contingent right to receive one share of common stock upon vesting. The RSUs vest in three equal installments on August 14, 2026, August 14, 2027 and August 14, 2028, subject to Ms. College's continuous employment or service through each vesting date. The report shows 305,685 shares beneficially owned following the reported transaction, held directly. The Form 4 was signed by an attorney-in-fact on 08/21/2025.

Positive

• Significant retention incentive: 305,685 RSUs vesting over three years fosters alignment with long-term performance
• Clear vesting schedule: Vesting dates and service conditions are explicitly stated (Aug 14, 2026; Aug 14, 2027; Aug 14, 2028)
• Direct ownership reported: 305,685 shares shown as beneficially owned following the grant

Negative

• Potential future dilution: 305,685 shares may be issued upon vesting, increasing outstanding shares
• No performance conditions disclosed: Vesting is conditional on continued service only, not specified performance metrics

Insights

Financial Analyst

TL;DR: Executive awarded 305,685 RSUs vesting over three years; routine retention-focused compensation.

This grant is a time-based equity award that vests in equal installments across three annual dates, which is a common structure to align senior executive incentives with shareholder performance and retention. The award size is clearly stated as 305,685 RSUs convertible 1:1 to common stock upon vesting, and ownership is reported as direct following the grant. There are no sales, exercises, or cash transactions reported. From a financial perspective, this is a compensation disclosure rather than an operational or balance-sheet event; its primary implications are potential future share issuance and ongoing alignment of management incentives with company performance.

Corporate Governance Expert

TL;DR: Time‑vested RSU grant with service condition; typical governance practice to retain senior officer.

The filing documents a standard, time‑based restricted stock unit award for a named officer with explicit service-based vesting conditions through 2028. The clear vesting schedule and requirement of continuous employment are consistent with common compensation governance practices to promote retention. The Form 4 contains no indication of accelerated vesting, 10b5-1 plan usage, or other atypical provisions. This appears to be a routine insider compensation disclosure rather than a governance red flag.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

College Amy

(Last) (First) (Middle)

2005 EAST INDIAN SCHOOL ROAD

(Street)

PHOENIX AZ 85016

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Leslie's, Inc. [ LESL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	See Remarks

3. Date of Earliest Transaction (Month/Day/Year)
08/14/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	$0(1)							(2)	(2)	Common Stock	305,685		305,685	D

Explanation of Responses:

1. Each Restricted Stock Unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of the Issuer's Common Stock.

2. Represents a grant of RSUs of which 305,685 will vest in equal installments on August 14, 2026, August 14, 2027, and August 14, 2028, subject to Ms. College's continuous employment or service with the Issuer or an affilate until the applicable vesting date.

Remarks:

Chief Merchandising and Supply Chain Officer

	/s/ Benjamin Lindquist, as Attorney-in-Fact for Amy College	08/21/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Amy College (LESL) report on Form 4 dated 08/14/2025?

Amy College reported a grant of 305,685 restricted stock units (RSUs) on 08/14/2025 with a direct beneficial ownership of 305,685 shares following the grant.

When do the RSUs granted to Amy College vest?

The RSUs vest in three equal installments on August 14, 2026; August 14, 2027; and August 14, 2028, subject to continuous employment or service.

How many common shares does each RSU convert into for LESL?

Each Restricted Stock Unit represents the contingent right to receive one share of Leslie's, Inc. common stock upon vesting.

What role does the reporting person hold at LESL?

The filing identifies Amy College as Chief Merchandising and Supply Chain Officer.

When was the Form 4 signed and by whom?

The Form 4 was signed by Benjamin Lindquist as Attorney-in-Fact for Amy College on 08/21/2025.