Donald Zurbay - Jul 1, 2022 Form 4 Insider Report for PATTERSON COMPANIES, INC. (PDCO)

Role: Chief Financial Officer
Signature: Les B. Korsh, by Power of Attorney
Stock symbol: PDCO
Transactions as of: Jul 1, 2022
Transactions value $: $897,878
Form type: 4
Date filed: 7/6/2022, 06:47 PM
Previous filing: Jun 13, 2022
Next filing: Jul 7, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PDCO	Common Stock	Tax liability	-$376K	-12.3K	-12.97%	$30.59	82.5K	Jul 1, 2022	Direct	F1, F2
transaction	PDCO	Common Stock	Tax liability	-$143K	-4.67K	-5.66%	$30.59	77.8K	Jul 1, 2022	Direct	F3, F4
transaction	PDCO	Common Stock	Award	$319K	+10.4K	+13.39%	$30.59	88.2K	Jul 1, 2022	Direct	F4, F5
holding	PDCO	Common Stock						1.09K	Jul 1, 2022	By ESOP	F6

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	PDCO	Employee Stock Options	Award	$1.1M	+35.9K		$30.59	35.9K	Jul 1, 2022	Common Stock	35.9K	$30.59	Direct	F7, F8
holding	PDCO	Employee Stock Options						37.8K	Jul 1, 2022	Common Stock	37.8K	$30.77	Direct	F9, F10
holding	PDCO	Employee Stock Options						57.8K	Jul 1, 2022	Common Stock	57.8K	$23.57	Direct	F11, F12
holding	PDCO	Employee Stock Options						78.8K	Jul 1, 2022	Common Stock	78.8K	$22.25	Direct	F13, F14
holding	PDCO	Employee Stock Options						33.4K	Jul 1, 2022	Common Stock	33.4K	$22.48	Direct	F15
holding	PDCO	Employee Stock Options						99.3K	Jul 1, 2022	Common Stock	99.3K	$22.67	Direct	F16

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

Explanation of Responses:

Id	Content
F1	On July 1, 2022, the restricted stock unit ("RSU") equivalents vested per the Patterson Companies, Inc. Amended and Restated 2015 Omnibus Incentive Plan ("Plan) and were paid out in common stock. The Company withheld shares to satisfy the tax liability associated with the vesting.
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	Represents shares of common stock withheld to satisfy a portion of tax liability upon the lapse of restrictions on RSUs issued pursuant to the Plan.
F4	Includes an aggregate of 19,863 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 employment as follows: 5,476 units vest 7/1/2023, 11,137 units vest 7/14/2023 and 3,250 units vest 7/1/2024.
F5	Represents RSUs awarded on 7/1/2022 to Reporting Person pursuant to the Plan. The RSUs awarded vest, assuming continued employment, 33.3% on 7/1/2023, 33.3% on 7/1/2024 and 33.4% on 7/1/2025.
F6	Represents shares of common stock indirectly held by the Reporting Person's Employee Stock Ownership Plan ("ESOP") account through April 29, 2022.
F7	Stock options granted pursuant to the Plan on 7/1/2022.
F8	Options are exercisable as follows: 33.3% on 7/1/2023, 33.3% on 7/1/2024 and 33.4% on 7/1/2025.
F9	Stock options granted pursuant to the Plan on 7/1/2021.
F10	Options are exercisable as follows: 33.3% on 7/1/2022, 33.3% on 7/1/2023 and 33.4% on 7/1/2024.
F11	Stock options granted pursuant to the Plan on 7/14/2020.
F12	Options are exercisable as follows: 33.3% on 7/14/2021, 33.3% on 7/14/2022 and 33.4% on 7/14/2023.
F13	Stock options granted pursuant to the Plan on 7/1/2019.
F14	Options are exercisable as follows: 33.3% on 7/1/2020, 33.3% on 7/1/2021 and 33.4% on 7/1/2022.
F15	Stock options granted pursuant to the Plan on 7/1/2018.
F16	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.