Donald J. Zurbay - 15 Mar 2022 Form 4 Insider Report for PATTERSON COMPANIES, INC. (PDCO)

Role: Chief Financial Officer
Signature: Les B. Korsh, by Power of Attorney
Issuer symbol: PDCO
Transactions as of: 15 Mar 2022
Net transactions value: -$308,802
Form type: 4
Filing time: 16 Mar 2022, 17:04:09 UTC
Previous filing: 14 Jul 2021
Next filing: 05 Aug 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PDCO	Common Stock	Sale	$308,802	-10,000	-9.5%	$30.88	94,755	15 Mar 2022	Direct	F1, F2, F3
holding	PDCO	Common Stock						1,061	15 Mar 2022	By ESOP	F4

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						37,831	15 Mar 2022	Common Stock	37,831	$30.77	Direct	F5, F6
holding	PDCO	Employee Stock Options						57,819	15 Mar 2022	Common Stock	57,819	$23.57	Direct	F7, F8
holding	PDCO	Employee Stock Options						78,829	15 Mar 2022	Common Stock	78,829	$22.25	Direct	F9, F10
holding	PDCO	Employee Stock Options						33,363	15 Mar 2022	Common Stock	33,363	$22.48	Direct	F11
holding	PDCO	Employee Stock Options						99,250	15 Mar 2022	Common Stock	99,250	$22.67	Direct	F12

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The transaction reported on this Form 4 was effected pursuant to a Rule 10b5-1 Plan adopted by the Reporting Person on December 17, 2021.
F2	Includes an aggregate of 37,134 RSUs awarded on 7/1/2018, 7/1/2019, 7/14/2020 and 7/1/2021 to Reporting Person pursuant to the Plan. The RSUs vest contingent upon continued employment as follows: 17,272 units vest 7/1/2022, 5,475 units vest 7/1/2023, 11,137 units vest 7/14/2023 and 3,250 units vest 7/1/2024.
F3	Includes 33,625 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	Represents shares of common stock indirectly held by the Reporting Person's Employee Stock Ownership Plan ("ESOP") account through May 21, 2021.
F5	Stock options granted pursuant to the Plan on 7/1/2021.
F6	Options are exercisable as follows: 33.3% on 7/1/2022, 33.3% on 7/1/2023 and 33.4% on 7/1/2024.
F7	Stock options granted pursuant to the Plan on 7/14/2020.
F8	Options are exercisable as follows: 33.3% on 7/14/2021, 33.3% on 7/14/2022 and 33.4% on 7/14/2023.
F9	Stock options granted pursuant to the Plan on 7/1/2019.
F10	Options are exercisable as follows: 33.3% on 7/1/2020, 33.3% on 7/1/2021 and 33.4% on 7/1/2022.
F11	Stock options granted pursuant to the Plan on 7/1/2018.
F12	Stock options granted as an inducement award granted outside the Plan on 6/29/2018. The stock options granted would vest pro-rata over the course of 3 years, with one-third of the shares vesting on 6/29/2019, one-third vesting on 6/29/2020, and the remaining one-third vesting 6/29/2021, in all cases subject to continued employments.