Donald Zurbay - Jul 14, 2023 Form 4 Insider Report for PATTERSON COMPANIES, INC. (PDCO)

Role: President & CEO, Director
Signature: Les B. Korsh, by Power of Attorney
Stock symbol: PDCO
Transactions as of: Jul 14, 2023
Transactions value $: $363,674
Form type: 4
Date filed: 7/18/2023, 05:03 PM
Previous filing: Jul 6, 2023
Next filing: Jul 19, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PDCO	Common Stock	Tax liability	-$144K	-4.49K	-3.12%	$32.07	139K	Jul 14, 2023	Direct	F1, F2
transaction	PDCO	Common Stock	Award	$926K	+28.9K	+20.72%	$32.07	168K	Jul 14, 2023	Direct	F2, F3
transaction	PDCO	Common Stock	Tax liability	-$418K	-13K	-7.75%	$32.07	155K	Jul 14, 2023	Direct	F2, F4
holding	PDCO	Common Stock						1.15K	Jul 14, 2023	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						93.6K	Jul 14, 2023	Common Stock	93.6K	$33.26	Direct	F6, F7
holding	PDCO	Employee Stock Options						134K	Jul 14, 2023	Common Stock	134K	$28.99	Direct	F8, F9
holding	PDCO	Employee Stock Options						35.9K	Jul 14, 2023	Common Stock	35.9K	$30.59	Direct	F10, F11
holding	PDCO	Employee Stock Options						37.8K	Jul 14, 2023	Common Stock	37.8K	$30.77	Direct	F12, F13
holding	PDCO	Employee Stock Options						57.8K	Jul 14, 2023	Common Stock	57.8K	$23.57	Direct	F7, F14
holding	PDCO	Employee Stock Options						78.8K	Jul 14, 2023	Common Stock	78.8K	$22.25	Direct	F15, F16
holding	PDCO	Employee Stock Options						33.4K	Jul 14, 2023	Common Stock	33.4K	$22.48	Direct	F17
holding	PDCO	Employee Stock Options						99.3K	Jul 14, 2023	Common Stock	99.3K	$22.67	Direct	F18

* 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 purusant to the Patterson Companies, Inc. Amended and Restated 2015 Omnibus Incentive Plan ("Plan").
F2	Includes an aggregate of 79,934 RSUs awarded in the years 2020 through 2023 to Reporting Person pursuant to the Plan. The RSUs vest contingent upon continued employment as follows: 13,210 units vest 12/1/2023, 16,735 units vest 7/1/2024, 13,210 units vest 12/1/2024, 13,488 units vest 7/1/2025, 13,249 units vest on 12/1/2025 and 10,042 units vest 7/1/2026.
F3	Represents shares earned upon satisfaction of performance criteria applicable to non-derivative performance share units.
F4	Represents shares of common stock withheld to satisfy a portion of tax liability upon the vesting of performance share units.
F5	Represents shares of common stock indirectly held by the Reporting Person's Employee Stock Ownership Plan ("ESOP") account through May 1, 2023.
F6	Stock options granted pursuant to the Plan on 7/1/2023.
F7	Options are exercisable as follows: 33.3% on 7/1/2024, 33.3% on 7/1/2025 and 33.4% on 7/1/2026.
F8	Stock options granted pursuant to the Plan on 12/5/2022.
F9	Options are excercisable as follows: 33.3% on 12/5/2023, 33.3% on 12/5/2024 and 33.4% on 12/5/2025.
F10	Stock options granted pursuant to the Plan on 7/1/2022.
F11	Options are exercisable as follows: 33.3% on 7/1/2023, 33.3% on 7/1/2024 and 33.4% on 7/1/2025.
F12	Stock options granted pursuant to the Plan on 7/1/2021.
F13	Options are exercisable as follows: 33.3% on 7/1/2022, 33.3% on 7/1/2023 and 33.4% on 7/1/2024.
F14	Stock options granted pursuant to the Plan on 7/14/2020.
F15	Stock options granted pursuant to the Plan on 7/1/2019.
F16	Options are exercisable as follows: 33.3% on 7/1/2020, 33.3% on 7/1/2021 and 33.4% on 7/1/2022.
F17	Stock options granted pursuant to the Plan on 7/1/2018.
F18	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.