Sprouts Farmers Market (NASDAQ: SFM) CDO sells shares for taxes
Rhea-AI Filing Summary
Sprouts Farmers Market Chief Development Officer David McGlinchey reported a small tax-related sale of 297 shares of common stock at an average price of $83.9715 per share. The transaction was a broker-assisted sale to cover withholding taxes due upon the vesting of restricted stock units and was not a discretionary trade.
After the sale, McGlinchey directly holds 47,897 equity-linked interests, including 41,273 shares of common stock and 6,624 restricted stock units. These restricted stock units are scheduled to vest between March 19, 2027 and March 12, 2029, assuming continued employment.
Positive
- None.
Negative
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock, par value $0.001 per share | 297 | $83.9715 | $25K |
Footnotes (1)
- This transaction was a broker-assisted sale of shares of common stock to satisfy the withholding tax liability incurred upon the vesting of restricted stock units, as mandated by the Issuer's election under its equity incentive plan documents, and does not represent a discretionary trade by the reporting person. Includes 41,273 shares of common stock and 6,624 restricted stock units. Each restricted stock unit represents the right to receive, upon vesting, one share of common stock. 703 restricted stock units will vest on March 19, 2027, 1,500 restricted stock units will vest evenly over two years on March 12, 2027 and March 12, 2028, and 4,421 restricted stock units will vest evenly over three years on March 12, 2027, March 12, 2028 and March 12, 2029. All such vests assume continued employment through the applicable vest date.
FAQ
What did Sprouts Farmers Market (SFM) executive David McGlinchey do in this insider transaction?
David McGlinchey executed a broker-assisted sale of 297 Sprouts Farmers Market shares. The sale was solely to cover withholding taxes triggered by restricted stock unit vesting and was mandated under the company’s equity incentive plan, meaning it was not a discretionary open-market trade.
What restricted stock units does the Sprouts Farmers Market (SFM) CDO have outstanding and when do they vest?
David McGlinchey holds 6,624 restricted stock units in Sprouts Farmers Market. These units are scheduled to vest in tranches on March 19, 2027, and evenly over two and three years on March 12, 2027, March 12, 2028, and March 12, 2029, contingent on continued employment.
Was the Sprouts Farmers Market (SFM) insider sale a discretionary trade by the executive?
No. The filing states the sale was a broker-assisted transaction to satisfy withholding tax liabilities from restricted stock unit vesting. It was mandated under the company’s equity incentive plan documents and explicitly described as not a discretionary trade by David McGlinchey.