Meister Keith A. reported acquisition or exercise transactions in this Form 4 filing.
Vestis Corp director and 10% owner Keith A. Meister reported an equity award of 18,253 shares of common stock. The award represents restricted stock units that were granted at a price of $0.00 per share and will vest on the earlier of the first anniversary of the grant date or the day before Vestis’s next annual stockholder meeting, subject to his continued service on the board. Following this grant, he directly holds 50,443 shares of Vestis common stock. Investment funds advised by Corvex Management LP directly hold 19,813,963 shares, which may be deemed indirectly beneficially owned by Meister through his control of Corvex’s general partner, although both Corvex and Meister formally disclaim beneficial ownership beyond their pecuniary interest.
Goetz William reported acquisition or exercise transactions in this Form 4 filing.
Vestis Corp director William Goetz reported an equity award of 18,253 shares of common stock in the form of restricted stock units. The award was granted at a price of $0.00 per share and increases his direct holdings to 64,088 shares of common stock.
The restricted stock units vest on the earlier of the first anniversary of the grant date or the day before Vestis Corp’s next annual general meeting of stockholders after the grant date, contingent on his continued service on the board. The total includes an extra 0.006 shares due to rounding on settled awards.
Holloman James Phillip reported acquisition or exercise transactions in this Form 4 filing.
Vestis Corp director James Phillip Holloman received a grant of 26,076 shares of common stock as a stock award. The award consists of restricted stock units that vest on the earlier of the first anniversary of the grant date or the day before Vestis Corp’s next annual stockholder meeting, subject to his continued board service. Following this grant, he directly holds 194,931.36 shares, which include an additional 0.009 share attributable to rounding upon settlement of prior vested awards.
Vestis Corporation reported a weaker quarter as it posted a net loss while launching a major cost-transformation plan. Revenue was $663.4 million, down 3% from $683.8 million a year earlier, as uniforms revenue fell and mix shifted toward lower-priced workplace supplies. Operating income dropped to $16.6 million from $30.4 million, and the company recorded a net loss of $6.4 million versus prior net income of $0.8 million.
Despite the loss, cash flow from operations improved sharply to $37.7 million from $3.8 million, helping lift cash to $41.5 million. Long-term borrowings totaled $1.15 billion net of discounts and issuance costs, with $1.16 billion of principal outstanding. Vestis began a multi-year transformation plan expected to deliver at least $75 million of annual cost savings by the end of fiscal 2026, with estimated total costs of $25–$30 million; in the quarter it incurred $7.8 million of consulting fees and $5.5 million of severance. The company also continued using a $250 million accounts receivable securitization facility, having derecognized $217.2 million of receivables as of the quarter-end.
Vestis Corporation reported first quarter 2026 revenue of $663.4 million, down 3% from the prior year on flat volume. Product mix shifts and pre-transformation commercial practices reduced revenue per pound and contributed to a net loss of $6.4 million, or $(0.05) per diluted share.
Non-GAAP results were stronger, with Adjusted Net Income of $13.1 million, Adjusted EBITDA of $70.4 million (10.6% margin) and Adjusted diluted EPS of $0.10. Free Cash Flow was $28.3 million and Adjusted Free Cash Flow was $42.9 million, aided by a $12.7 million working capital benefit.
The company highlighted progress on its strategic business transformation plan, including a 7% improvement in plant productivity, a 3% improvement in on-time deliveries and a 12% reduction in customer complaints versus the first quarter of 2025. Management expects the plan to deliver at least $75 million in annual cost savings by the end of fiscal 2026.
Vestis reaffirmed its fiscal 2026 outlook, guiding to revenue between flat and down 2% versus 2025, Adjusted EBITDA of $285–$315 million and Free Cash Flow of $50–$60 million. As of January 2, 2026, total liquidity was $316.7 million, including $41.5 million of cash, and the Net Leverage Ratio was 4.83x.
FMR LLC has filed an amended Schedule 13G reporting beneficial ownership of 10,228,939.66 shares of Vestis Corporation common stock, representing 7.8% of the class as of December 31, 2025. FMR holds sole voting power over 10,220,683 shares and sole dispositive power over the full 10,228,939.66 shares.
Abigail P. Johnson is also listed as a reporting person with sole dispositive power over the same 10,228,939.66 shares and no voting power. The filing states the securities are held in the ordinary course of business and not for the purpose of changing or influencing control of Vestis.
Vestis Corporation executive Andre C. Bouchard, EVP, CLO & General Counsel, reported a routine share withholding tied to equity compensation. On February 1, 2026, 1,250 shares of Vestis common stock were withheld at $6.53 per share to cover taxes on vesting restricted stock units. After this tax-related transaction, Bouchard directly owned about 110,552.391 shares of Vestis common stock.
Vestis Corporation has released its 2026 proxy statement outlining plans for a virtual-only annual shareholder meeting on February 18, 2026 and seeking votes on three key items. Shareholders will elect three Class II directors to serve until the 2027 annual meeting, cast an advisory “say-on-pay” vote on executive compensation, and ratify Deloitte & Touche LLP as independent auditor for fiscal 2026.
The company highlights a multi-year transformation framework built around commercial excellence, operational excellence, and asset and network optimization, positioning fiscal 2026 as a foundational year for improving profitability, reducing customer churn and enhancing network efficiency. Governance disclosures emphasize that eight of ten directors are independent, all three standing committees are fully independent, and 131,948,938 shares were outstanding and entitled to vote as of the December 22, 2025 record date.
Vestis Corp director and 10% owner reports new equity grant. A reporting person associated with Corvex Management LP, identified as a director and 10% owner of Vestis Corp, received 15,958 restricted stock units of common stock on 01/02/2026 in lieu of a cash retainer, at a stated price of $0. These restricted stock units vest in four equal annual installments on April 2, 2026, July 2, 2026, October 2, 2026 and January 2, 2027.
Following this transaction, the reporting person directly holds 32,189.994 shares of Vestis common stock and is also reported as indirectly beneficially owning 19,813,963 shares held by investment funds advised by Corvex Management LP, with beneficial ownership disclaimed except to the extent of any pecuniary interest.
Vestis Corporation disclosed that one of its directors received 25,076 restricted stock units of common stock on 01/02/2026 in lieu of a cash board retainer. The units were granted at a stated price of $0, reflecting non-cash equity compensation rather than a market purchase.
These restricted stock units vest in four equal annual installments on April 2, 2026, July 2, 2026, October 2, 2026 and January 2, 2027. Following this grant, the director beneficially owns 168,855.351 shares of Vestis common stock, held directly.