Les B. Korsh - Jun 11, 2021 Form 4 Insider Report for PATTERSON COMPANIES, INC. (PDCO)

Role
VP, General Counsel
Signature
Les B. Korsh
Stock symbol
PDCO
Transactions as of
Jun 11, 2021
Transactions value $
-$561,311
Form type
4
Date filed
6/15/2021, 04:20 PM
Next filing
Jul 6, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PDCO Common Stock Tax liability -$398K -10.9K -10.74% $36.63 90.3K Jun 11, 2021 Direct F1, F2, F3
transaction PDCO Common Stock Sale -$163K -4.58K -5.07% $35.68 85.7K Jun 14, 2021 Direct F2, F3, F4
holding PDCO Common Stock 1.98K Jun 11, 2021 By ESOP F5

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
holding PDCO Employee Stock Options 24.8K Jun 11, 2021 Common Stock 24.8K $23.57 Direct F6, F7
holding PDCO Employee Stock Options 33.8K Jun 11, 2021 Common Stock 33.8K $22.25 Direct F8, F9
holding PDCO Employee Stock Options 14.2K Jun 11, 2021 Common Stock 14.2K $22.48 Direct F10
holding PDCO Employee Stock Options 11.8K Jun 11, 2021 Common Stock 11.8K $47.51 Direct F11
holding PDCO Employee Stock Options 10.4K Jun 11, 2021 Common Stock 10.4K $48.47 Direct F12
holding PDCO Employee Stock Options 25K Jun 11, 2021 Common Stock 25K $56.66 Direct F13, F14
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares of common stock withheld for payment of taxes incurred upon the lapse of restrictions on restricted stock units ("RSUs") issued pursuant to the Patterson Companies, Inc. Amended and Restated 2015 Omnibus Incentive Plan ("Plan").
F2 Includes 13,911 RSUs awarded on 7/1/2016, 7/1/2017, 7/1/2018, 7/1/2019 and 7/14/2020 to Reporting Person pursuant to the Plan. The RSUs vest contingent upon continued employment as follows: 6,799 units in aggregate vest on 7/1/2021, 1,393 units in aggregate vest on 7/1/2022, 946 units vest on 7/1/2023 and 4,773 units vest on 7/14/2023.
F3 Includes 14,410 RSU equivalents attributable to the July 1, 2020 determination by the Compensation Committee that the performance criteria for the period of April 27, 2019 through April 25, 2020 applicable to non-derivative performance units issued on July 1, 2019 had been satisfied. Subject to continued employment of the Reporting Person through July 1, 2022, the RSU equivalents will automatically convert into shares of common stock.
F4 The transaction reported on this Form 4 was effected pursuant to a Rule 10b5-1 Plan adopted by the Reporting Person on July 9, 2020.
F5 Represents shares of common stock indirectly held by the Reporting Person's Employee Stock Ownership Plan (ESOP) account through May 21, 2021.
F6 Stock options granted pursuant to the Plan on 7/14/2020.
F7 Options are exercisable as follows: 33.3% on 7/14/2021, 33.3% on 7/14/2022 and 33.4% on 7/14/2023.
F8 Stock options granted pursuant to the Plan on 7/1/2019.
F9 Options are exercisable as follows: 33.3% on 7/1/2020, 33.3% on 7/1/2021 and 33.4% on 7/1/2022.
F10 Stock options granted pursuant to the Plan on 7/1/2018.
F11 Stock options granted pursuant to the Plan on 7/1/2017.
F12 Stock options granted pursuant to the Plan on 7/1/2016.
F13 Stock options granted pursuant to the Patterson Companies, Inc. Amended and Restated Equity Incentive Plan on 7/1/2015.
F14 Options are exercisable as follows: 25% on 7/1/2018, 25% on 7/1/2019 and 50% on 7/1/2020.