Form 4 for VSTS Vestis Corp
Accepted 2023-10-04 00:00:00 ET · period of report 2023-10-02 · accession 0001628280-23-033907 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DM | 2023-10-04 | 2023-10-02 | VSTS | Kervin Angela | EVP, Chief HR Off | A - Grant | — | +39.6K | 693 | New | — |
| DM | 2023-10-04 | 2023-10-02 | VSTS | Kervin Angela | EVP, Chief HR Off | A - Grant | $0.00 | +66.0K | 40.0K | New | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock, par value $0.01 per share | 2023-10-02 | A | A | 3,458 | — | 31,743 | D | — | — | (F7) Represents conversion of an award of restricted stock units granted by Aramark into restricted stock units with respect to Vestis common stock as a result of the Spin-Off, which will vest 25% on November 17, 2023, 25% on November 17, 2024, 25% on November 17, 2025 and 25% on November 17, 2026. (F3) Each restricted stock unit represents the right to receive, at settlement, one share of Vestis common stock. |
| 2 | Common | Common Stock, par value $0.01 per share | 2023-10-02 | A | A | 13,480 | — | 28,285 | D | — | — | (F3) Each restricted stock unit represents the right to receive, at settlement, one share of Vestis common stock. (F6) Represents conversion of an award of restricted stock units granted by Aramark into restricted stock units with respect to Vestis common stock as a result of the Spin-Off, which will vest 50% on July 15, 2024 and 50% on July 15, 2025. |
| 3 | Common | Common Stock, par value $0.01 per share | 2023-10-02 | A | A | 8,070 | — | 39,813 | D | — | — | (F3) Each restricted stock unit represents the right to receive, at settlement, one share of Vestis common stock. (F8) Represents conversion of an award of restricted stock units granted by Aramark into restricted stock units with respect to Vestis common stock as a result of the Spin-Off, which will vest 25% on March 1, 2024, 25% on March 1, 2025, 25% on March 1, 2026 and 25% on March 1, 2027. |
| 4 | Common | Common Stock, par value $0.01 per share | 2023-10-02 | A | A | 2,851 | — | 14,805 | D | — | — | (F5) Represents conversion of an award of restricted stock units granted by Aramark into restricted stock units with respect to Vestis common stock as a result of the Spin-Off, which will vest 50% on November 18, 2023 and 50% on November 18, 2024. (F3) Each restricted stock unit represents the right to receive, at settlement, one share of Vestis common stock. |
| 5 | Common | Common Stock, par value $0.01 per share | 2023-10-02 | A | A | 11,261 | — | 11,954 | D | — | — | (F4) Represents conversion of an award of restricted stock units granted by Aramark into restricted stock units with respect to Vestis common stock as a result of the Spin-Off, which will vest 100% on June 1, 2024. (F3) Each restricted stock unit represents the right to receive, at settlement, one share of Vestis common stock. |
| 6 | Common | Common Stock, par value $0.01 per share | 2023-10-02 | A | A | 508 | — | 693 | D | — | — | (F1) The transactions reported herein are the result of the consummation on September 30, 2023 of the distribution of approximately 130,725,188 shares of common stock of Vestis Corporation ("Vestis") by Aramark ("Aramark") to holders of Aramark common stock on a pro rata basis (the "Spin-Off"). (F2) Represents conversion of an award of restricted stock units granted by Aramark into restricted stock units with respect to Vestis common stock as a result of the Spin-Off, which will vest 100% on November 21, 2023. (F3) Each restricted stock unit represents the right to receive, at settlement, one share of Vestis common stock. |
| 7 | Derivative | Stock Option (Right to Buy) | 2023-10-02 | A | A | 14,183 | $0.00 | 14,183 | D | $18.21 · — to 2033-03-01 | 14,183 Common Stock, par value $0.01 per share | (F11) Represents conversion of an option to purchase Aramark common stock granted by Aramark into the option to purchase Vestis common stock as a result of the Spin-Off, of which 0% is fully vested, and 25% vests on March 1, 2024, 25% vests on March 1, 2025, 25% vests on March 1, 2026 and 25% vests on March 1, 2027. The exercise price reflects the adjustments that occurred as of October 2, 2023 in connection with the Spin-Off as described in the registration statement on Form 10 filed with the SEC by Vestis |
| 8 | Derivative | Stock Option (Right to Buy) | 2023-10-02 | A | A | 6,952 | $0.00 | 6,952 | D | $18.09 · — to 2031-11-18 | 6,952 Common Stock, par value $0.01 per share | (F9) Represents conversion of an option to purchase Aramark common stock granted by Aramark into the option to purchase Vestis common stock as a result of the Spin-Off, which 33.33% is fully vested, 33.33% vests on November 18, 2023, and 33.34% vests on November 18, 2024. The exercise price reflects the adjustments that occurred as of October 2, 2023 in connection with the Spin-Off as described in the registration statement on Form 10 filed with the SEC by Vestis. |
| 9 | Derivative | Stock Option (Right to Buy) | 2023-10-02 | A | A | 4,859 | $0.00 | 4,859 | D | $19.76 · — to 2032-11-17 | 4,859 Common Stock, par value $0.01 per share | (F10) Represents conversion of an option to purchase Aramark common stock granted by Aramark into the option to purchase Vestis common stock as a result of the Spin-Off, of which 25% vests on November 17, 2023, 25% vests on November 17, 2024, 25% vests on November 17, 2025 and 25% vests on November 17, 2026. The exercise price reflects the adjustments that occurred as of October 2, 2023 in connection with the Spin-Off as described in the registration statement on Form 10 filed with the SEC by Vestis. |
| 10 | Derivative | Premium Stock Option (Right to Buy) | 2023-10-02 | A | A | 40,000 | $0.00 | 40,000 | D | $20.41 · — to 2033-10-02 | 40,000 Common Stock, par value $0.01 per share | (F12) Represents a premium price option to purchase shares of Vestis common stock, which vests on the third anniversary of the date of grant. |