Form 4 for PTLO Portillo's Inc.

Accepted 2024-09-17 00:00:00 ET · period of report 2024-09-13 · accession 0001871509-24-000120 · 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
DI	2024-09-17	2024-09-13	PTLO	Hart Gerard Johan	Dir	C - Cnv Deriv	$0.00	+50.1K	50.1K	New	$0
DI	2024-09-17	2024-09-13	PTLO	Hart Gerard Johan	Dir	C - Cnv Deriv	—	-50.1K	0	-100%	—

Purchase Sale Sale after option exercise All abbreviations

#	Table	Security	Date	Code	A/D	Shares	Price	Owned after	Own	Exercise / expiry	Underlying	Footnotes
1	Common	Class A common stock	2024-09-13	C	A	50,072	$0.00	50,072	I By Trust	—	—	(F1) Represents shares of Class A common stock acquired in connection with the exchange by the Reporting Person of an equal number of LLC Units of PHD Group Holdings LLC in accordance with the terms of the Second Amended and Restated Limited Liability Company Agreement of PHD Group Holdings LLC, dated as of October 20, 2021 (the "LLC Agreement"). At the time of such exchange, an equal number of shares of Class B common stock of the Issuer held by the Reporting Person were cancelled, for no additional consideration, in accordance with the LLC Agreement.
2	Derivative	LLC Units of PHD Group Holdings LLC	2024-09-13	C	D	50,072	—	0	I By LLC	— · — to —	50,072 Class A common stock	(F3) Pursuant to the LLC Agreement, LLC Units held by the Reporting Person are exchangeable for shares of Class A common stock on a one-for-one basis, subject to certain exceptions, conditions and adjustments. The LLC Units have no expiration date.