Brooks Pennington III - Aug 12, 2024 Form 4 Insider Report for CENTRAL GARDEN & PET CO (CENT)

Role
Director
Signature
/s/Brooks M Pennington III
Stock symbol
CENT
Transactions as of
Aug 12, 2024
Transactions value $
-$48,780
Form type
4
Date filed
8/14/2024, 09:00 PM
Previous filing
Feb 14, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CENT Class A Common Stock Options Exercise $100K +4.48K +11% $22.30 45.2K Aug 12, 2024 Direct F1
transaction CENT Class A Common Stock Tax liability -$100K -3K -6.63% $33.37 42.2K Aug 12, 2024 Direct F2
transaction CENT Class A Common Stock Sale -$48.7K -1.49K -3.52% $32.80 40.7K Aug 13, 2024 Direct F3, F4
holding CENT Class A Common Stock 6.58K Aug 12, 2024 By Spouse F5
holding CENT Class A Common Stock 20.9K Aug 12, 2024 By LLC F6
holding CENT Class A Common Stock 43.8K Aug 12, 2024 By BPCP F7
holding CENT Common Stock 6.94K Aug 12, 2024 By Spouse F5
holding CENT Common Stock 7.6K Aug 12, 2024 By LLC F6
holding CENT Common Stock 134K Aug 12, 2024 Direct
holding CENT Units 2.24K Aug 12, 2024 By 401(k) Plan F8

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CENT Stock Option (Right to Buy) Options Exercise $0 -4.48K -100% $0.00* 0 Aug 12, 2024 Class A Common Stock 4.48K $22.30 Direct F9, F10, F11
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Options exercised under sales plan pursuant to Rule 10b5-1(c)(1) of the Securities Exchange Act of 1934, as amended.
F2 Shares withheld by the Issuer in payment of the aggregate option exercise price incurred upon the above-reported exercise of options. The amount of shares withheld is based on the respective average of the high and low sales prices on the date of exercise.
F3 Sale effected under sales plan pursuant to Rule 10b5-1(c)(1) of the Securities Exchange Act of 1934, as amended.
F4 The range of prices for the shares of Class A Common Stock is from $32.53 to $33.44. The Reporting Person undertakes that the Reporting Person will provide, upon request by the staff of the U.S. Securities and Exchange Commission, full information regarding the number of securities sold at each separate price.
F5 Mr. Pennington disclaims beneficial ownership of 6,579 shares of the Issuer's Class A Common Stock owned by his spouse and 6,938 shares of the Issuer's Common Stock owned by his spouse.
F6 By Pennington Management Company II, LLC, in which Mr. Pennington has an ownership interest. Mr. Pennington is the President of Pennington Management Company II, LLC. Mr. Pennington disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
F7 By BPCB Timber Company, LLC, in which Mr. Pennington has an ownership interest. Mr. Pennington is the Managing Member of BPCB Timber Company, LLC. Mr. Pennington disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
F8 The units represent interests in the CENTA Stock Fund in the Issuer's 401(k) Plan, which consist of shares of CENTA stock and cash.
F9 This option was previously reported as an option for 3,587 shares of Class A Common Stock at an exercise price of $27.20 per share, but was adjusted to reflect the stock dividend declared by Company on December 7, 2023. As a result of the stock dividend, the option also entitled the Reporting Person to receive, upon exercise, 896 shares of Class A Common Stock for no additional consideration.
F10 On December 7, 2023, Company declared a stock dividend, payable to all holders on record of Common Stock and Class A Common Stock as of January 8, 2024, of one share of Class A Common Stock for every four shares of Common Stock and Class A Common Stock outstanding. At the same time, pursuant to anti-dilution provisions, an option for 3,587 shares Class A Common Stock on January 8, 2024 became exercisable for 4,483 shares of Class A Common Stock.
F11 Options were granted on February 12, 2019 and all shares are vested and are exercisable.