Portillo's (NASDAQ: PTLO) awards 40,760 RSUs to Chief Development Officer

Rhea-AI Filing Summary

Pecoraro-Striepling Jennifer reported acquisition or exercise transactions in this Form 4 filing.

Portillo's Inc. reported that Chief Development Officer Jennifer Pecoraro-Striepling received a grant of 40,760 shares of Class A common stock on April 15, 2026. A footnote explains this represents restricted stock units subject to time-based vesting. One-third of the units vest on each of the first three anniversaries of the grant date, contingent on her continued service and the award agreement terms. Following this equity award, she holds 40,760 shares directly.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Pecoraro-Striepling Jennifer

Role Chief Development Officer

Type	Security	Shares	Price	Value
Grant/Award	Class A common stock	40,760	$0.00	--

Holdings After Transaction: Class A common stock — 40,760 shares (Direct)

Footnotes (1)

1. [object Object]

Key Figures

Equity grant size: 40,760 shares Price per share: $0.00 per share Post-transaction holdings: 40,760 shares +1 more

4 metrics

Equity grant size 40,760 shares Restricted stock units granted April 15, 2026

Price per share $0.00 per share Equity award, no cash purchase price

Post-transaction holdings 40,760 shares Total Class A common stock beneficially owned after grant

Vesting schedule One-third annually over three years First three anniversaries of April 15, 2026 grant date

Key Terms

restricted stock units, time-based vesting, anniversaries of the grant date, award agreement

4 terms

restricted stock units financial

"Represents restricted stock units subject to time-based vesting granted on April 15, 2026"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

time-based vesting financial

"restricted stock units subject to time-based vesting granted on April 15, 2026"

Time-based vesting is a schedule that gives employees or contractors ownership of granted stock or options gradually as they remain with a company, like unlocking rewards in a loyalty program the longer you stick around. For investors, it matters because it affects future share supply, management incentives and staff retention — all of which can influence company performance and dilution of existing shareholders.

anniversaries of the grant date financial

"one-third of which vest on each of the first three anniversaries of the grant date"

award agreement financial

"subject to the Reporting Person's continued service with the Issuer and the terms of the applicable award agreement"

An award agreement is a legal contract that spells out the terms of a pay or equity grant—such as stock options, restricted shares, or cash bonuses—given to an employee, director or consultant. It describes what is being granted, any conditions for keeping it (for example, earning it over time or meeting performance targets), and what happens if the person leaves or breaks rules. Investors care because these agreements affect company costs, potential share dilution and how executives are motivated and rewarded.

Form 4 Insider Transactions: What Each Field Means →

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^*

Pecoraro-Striepling Jennifer

(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 Development Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/15/2026

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	04/15/2026		A		40,760(1)	A	$0	40,760	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 restricted stock units subject to time-based vesting granted on April 15, 2026, one-third of which vest on each of the first three anniversaries of the grant date, subject to the Reporting Person's continued service with the Issuer and the terms of the applicable award agreement.

Remarks:

	By: /s/ Kelly M. Kaiser, as attorney-in-fact for Jennifer Pecoraro-Striepling	04/16/2026
	** 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)

FAQ

What insider transaction did Portillo's (PTLO) report for Jennifer Pecoraro-Striepling?

Portillo's reported that Chief Development Officer Jennifer Pecoraro-Striepling received an equity grant of 40,760 shares of Class A common stock. A footnote clarifies these are restricted stock units subject to time-based vesting over three years, tied to her continued service.

How many Portillo's (PTLO) shares were granted in this Form 4 filing?

The filing shows a grant of 40,760 shares of Portillo's Class A common stock. According to the footnote, this grant represents restricted stock units, which vest in three equal annual installments, assuming the executive continues to serve under the applicable award agreement.

What is the vesting schedule for Jennifer Pecoraro-Striepling’s PTLO restricted stock units?

The restricted stock units granted on April 15, 2026, vest based on time. One-third of the award vests on each of the first three anniversaries of the grant date, conditioned on her continued service and compliance with the governing award agreement terms.

Did Jennifer Pecoraro-Striepling buy Portillo's (PTLO) shares on the open market?

No, the Form 4 describes a grant classified as a “grant, award, or other acquisition,” not an open-market purchase. The 40,760 shares are restricted stock units awarded at no cash price, subject to a multi-year vesting schedule and service requirements.

How many Portillo's (PTLO) shares does Jennifer Pecoraro-Striepling hold after this transaction?

After the April 15, 2026 grant, the filing states she beneficially owns 40,760 shares of Class A common stock directly. This total reflects the newly awarded restricted stock units, which remain subject to time-based vesting and the award agreement conditions.