Portillo's CIO reports routine tax share withholding

Portillo's Inc. Chief Information Officer Keith M. Correia reported a routine tax-related share disposition.

Rhea-AI Filing Summary

Portillo's Inc. Chief Information Officer Keith M. Correia reported a routine tax-related share disposition. On the vesting of a previously disclosed equity award, 1,226 shares of Class A common stock were withheld at $6.49 per share to satisfy tax withholding obligations. After this non-open-market transaction, he directly holds 86,983 shares of Portillo's Class A common stock.

Insider Trade Summary

Exercise Price or Tax Liability: 1,226 shares

Exercise Price or Tax Liability 1 txn

Insider Correia Keith M

Role Chief Information Officer

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Class A common stock	1,226	$6.49	$8K

Holdings After Transaction: Class A common stock — 86,983 shares (Direct)

Footnotes (1)

1. F1. Represents shares deducted to satisfy tax withholding obligations on the vesting of a previously disclosed award.

Key Figures

Shares withheld for taxes: 1,226 shares Withholding price: $6.49 per share Shares held after transaction: 86,983 shares

3 metrics

Shares withheld for taxes 1,226 shares Tax-withholding disposition on equity award vesting

Withholding price $6.49 per share Value used for 1,226 withheld shares

Shares held after transaction 86,983 shares Direct holdings following Form 4 transaction

Key Terms

tax withholding obligations, vesting, Class A common stock, tax-withholding disposition

4 terms

tax withholding obligations financial

"Represents shares deducted to satisfy tax withholding obligations on the vesting"

vesting financial

"on the vesting of a previously disclosed award"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

Class A common stock financial

"security_title: Class A common stock"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

tax-withholding disposition financial

"transaction_action: tax-withholding disposition"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Portillo's (PTLO) CIO Keith Correia report?

Keith M. Correia reported a tax-withholding disposition of Portillo's Class A common stock. The company withheld 1,226 shares upon vesting of a prior equity award to cover taxes, rather than selling shares on the open market.

How many Portillo's (PTLO) shares were used for Keith Correia’s tax withholding?

The transaction deducted 1,226 shares of Portillo's Class A common stock. These shares were withheld at $6.49 per share to satisfy tax obligations triggered when a previously disclosed equity award vested for the Chief Information Officer.

Was Keith Correia’s Portillo's (PTLO) Form 4 transaction an open-market sale?

No, the filing shows a tax-withholding disposition, not an open-market sale. Shares were withheld by the company to pay taxes due on vesting of an earlier equity award, a common administrative mechanism rather than a discretionary stock sale.

How many Portillo's (PTLO) shares does Keith Correia hold after this Form 4?

Following the reported transaction, Keith M. Correia directly holds 86,983 shares of Portillo's Class A common stock. This total reflects his position after 1,226 shares were deducted to cover tax withholding tied to a vesting equity award.

What does transaction code F mean in the Portillo's (PTLO) Form 4?

Transaction code F on the Form 4 indicates payment of an exercise price or tax liability by delivering securities. Here, it represents shares withheld by Portillo's to cover Keith Correia’s tax obligations from a previously disclosed award vesting.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/04/2026 - 04:41 PM EDT Learn about SEC filing dates

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
Estimated average burden
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^*

Correia Keith M

(Last) (First) (Middle)

C/O PORTILLO'S INC.

2001 SPRING ROAD SUITE 400

(Street)

OAK BROOK ILLINOIS 60523

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Portillo's Inc. [ PTLO ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Information Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/02/2026

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

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

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

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
Class A common stock	05/02/2026		F		1,226(1)	D	$6.49	86,983	D

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

Explanation of Responses:

1. Represents shares deducted to satisfy tax withholding obligations on the vesting of a previously disclosed award.

Remarks:

	/s/ Kelly M. Kaiser, as attorney-in-fact for Keith M Correia	05/04/2026
	** 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.
* Form 4: SEC 1474 (03-26)