Vestis Corp (VSTS) EVP & Chief Operating Officer William J. Seward had 9,986 shares withheld on October 1, 2026, to pay taxes applicable to vesting of restricted stock units; the reported price was $13.36 per share. He directly held 226,626 shares following the transaction. A footnote says beneficial ownership was adjusted by 0.087 to correct a previously reported fractional-share amount.
Vestis Corporation appointed Russell Tiejema as Executive Vice President and Chief Financial Officer, effective September 28, 2026. He succeeds Adam K. Bowen, who had served as interim CFO since December 16, 2025, and intends to remain with Vestis through the end of October. Tiejema has more than 30 years of finance and leadership experience, including CFO roles at US LBM and Masonite International.
Under his employment agreement, Tiejema’s initial annual base salary is $700,000. Beginning with fiscal 2027, he is entitled to a target annual bonus opportunity of 100% of base salary, with actual payments determined under the Management Incentive Plan, and an annual equity award with a target grant-date value of $1.75 million, subject to Compensation and Human Resources Committee approval. A one-time $2.5 million sign-on equity award, split equally between restricted stock units and nonqualified stock options, is to be granted on the first day of fiscal 2027 and vests ratably over three years. Vestis also reaffirmed its fiscal 2026 outlook.
Vestis Corp (VSTS) reported that President & CEO James J. Barber purchased 84,500 shares of common stock on September 2, 2026, in an open-market or private transaction at $12.37 per share. Following this transaction, he directly holds 867,222 shares of Vestis common stock, and no Rule 10b5-1 plan is reported.
Vestis Corporation reported fiscal third quarter 2026 revenue of $661.7 million, down 1.8% year over year as pounds processed fell 4.5%, reflecting intentional exit of lower-margin volume. Pricing and mix improved, lifting Revenue Per Pound by 2.9%.
Net income was $11.0 million versus a $0.7 million loss a year ago, and Adjusted EBITDA rose to $80.9 million with a 12.2% margin, compared with 9.8% covenant-adjusted margin in the prior-year quarter. Operating Leverage per pound improved by $0.04, supported by lower cost of services and a 9% gain in plant productivity.
Free Cash Flow reached $47.0 million (Adjusted Free Cash Flow $55.5 million), a $39.0 million year-over-year improvement, and liquidity totaled $351.8 million, including $57.7 million of cash. Net leverage decreased to 4.10x. For fiscal 2026, Vestis raised its Free Cash Flow outlook to $160–$170 million and now expects Adjusted EBITDA of $310–$315 million, with revenue flat to down 2% versus normalized 2025.
Vestis Corp Chief Accounting Officer John Laveck reported a routine tax-withholding transaction related to equity compensation. On the vesting of restricted stock units, 4,059 shares of common stock were withheld at $14.52 per share to cover taxes, leaving him with 41,794 shares held directly.
Vestis Corporation updated the employment terms for Interim Chief Financial Officer Adam K. Bowen through a second amended and restated offer letter and employment agreement tied to his continued service in that role.
Mr. Bowen’s annual base salary remains $400,000 with a target bonus equal to 35% of base salary under the Management Incentive Bonus Plan. If his employment ends under specified conditions before or shortly after the end of fiscal 2026, he will receive either a pro‑rated or full fiscal 2026 bonus, payable by December 31, 2026. The company waived repayment of a prior $100,000 discretionary cash award from December 2025 and granted a new one‑time $100,000 cash award payable in June 2026, plus additional $100,000 awards for each three‑month period after June 1, 2026 in which no permanent Chief Financial Officer is in place and he remains employed, and a further $100,000 award if he stays through a defined transition date.
If he is terminated without cause before a permanent Chief Financial Officer is appointed, or resigns in a Qualifying Resignation, his unvested time‑based restricted stock units will continue to vest on their original schedule. Should he not be selected as permanent Chief Financial Officer, his role will revert to Vice President, Financial Planning & Analysis, reporting to the new Chief Financial Officer, while the revised economic terms generally remain in effect. His post‑termination payments are conditioned on ongoing compliance with restrictive covenants and are subject to the company’s clawback and recoupment policies.
Vestis Corp executive Steven E. Cochran, EVP & Chief Commercial Officer, reported an equity compensation award in the form of restricted stock units. He acquired 93,096 shares of common stock at a stated price of $0.00 per share as a grant, not an open‑market purchase. Following this award, his direct holdings total 93,096 shares. The restricted stock units vest in three equal annual installments beginning on the first anniversary of the grant date, creating a multi‑year incentive tied to continued service.
Vestis Corp executive Steven E. Cochran, who serves as EVP & Chief Commercial Officer, has filed an initial Form 3 as a reporting person for the company. The filing data provided shows no buy, sell, exercise, gift, tax-withholding, or restructuring share transactions reported at this time.