Richard K. Lubin - Jan 18, 2022 Form 4 Insider Report for Portillo's Inc. (PTLO)

Role
Director
Signature
/s/ Susan Shelton, Attorney-in-Fact
Stock symbol
PTLO
Transactions as of
Jan 18, 2022
Transactions value $
$0
Form type
4
Date filed
1/20/2022, 07:18 PM
Previous filing
Oct 27, 2021
Next filing
Aug 18, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PTLO Class A common stock Award $0 +8.13K $0.00 8.13K Jan 18, 2022 Direct F1
holding PTLO Class A common stock 12.3M Jan 18, 2022 By Berkshire Fund VIII-A, L.P. F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents restricted stock units granted on January 18, 2022, 6,000 of which will vest in equal installments on each of October 21, 2022, October 21, 2023 and October 21, 2024 and 2,131 of which will vest in full on December 31, 2022, in each case, subject to the Reporting Person's continued service with the Issuer through such vesting date and the terms of the applicable award agreement.
F2 Represents shares of Class A common stock of the Issuer held by Berkshire Fund VIII-A, L.P. ("VIII-A"). Such securities may be deemed to be beneficially owned by Berkshire Partners Holdings LLC ("BPH"); BPSP, L.P. ("BPSP"); Eighth Berkshire Associates LLC ("8BA"), its general partner; and Berkshire Partners LLC ("BP"), its investment adviser. The Reporting Person is a managing member of BPH, BPSP, 8BA and BP. By virtue of the relationships described in the preceding sentence, the Reporting Person may be deemed to share beneficial ownership with respect to the shares of common stock held by VIII-A and such other accounts.
F3 (Continued from Footnote 2) The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein, and the inclusion of any securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended ("Section 16"), or for any other purpose.