William Masters Ross - Feb 12, 2024 Form 4 Insider Report for UNIFIRST CORP (UNF)

Role
Executive Vice President
Signature
/s/ Steven S. Sintros, Attorney-in-Fact
Stock symbol
UNF
Transactions as of
Feb 12, 2024
Transactions value $
-$979,585
Form type
4
Date filed
2/14/2024, 02:09 PM
Previous filing
Nov 2, 2023
Next filing
Jul 19, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UNF Common Stock Options Exercise $0 +4K +71.34% $0.00 9.61K Feb 12, 2024 Direct
transaction UNF Common Stock Tax liability -$580K -3.29K -34.26% $176.12 6.32K Feb 12, 2024 Direct
transaction UNF Common Stock Sale -$125K -709 -11.23% $175.88 5.61K Feb 12, 2024 Direct F1, F2
transaction UNF Common Stock Sale -$275K -1.57K -28.05% $175.00 4.03K Feb 12, 2024 Direct F1, F3
holding UNF Common Stock 65 Feb 12, 2024 By IRA

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 UNF Stock Appreciation Right Options Exercise $0 -4K -100% $0.00* 0 Feb 12, 2024 Common Stock ($0.10 par value) 4K $119.00 Direct
* 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 Represents shares sold pursuant to a trading plan intended to comply with Rule 10b5-1(c) and adopted on November 7, 2023.
F2 The price reported is a weighted average price. The shares were sold in multiple transactions at prices ranging from $175.79 to $176.22, inclusive. The reporting person undertakes to provide to UniFirst Corporation, any security holder of UniFirst Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range.
F3 Consists of 194 restricted stock units that vest in one remaining annual installment on October 31, 2024, 468 restricted stock units that vest in two remaining equal annual installments on October 31, 2024 and October 31, 2025, 672 restricted stock units that vest in three remaining equal annual installments on October 31, 2024, October 31, 2025 and October 31, 2026, 1,103 restricted stock units that vest in four remaining equal annual installments on October 31, 2024, October 31, 2025, October 31, 2026 and October 31, 2027, 1,597 restricted stock units that vest in five equal annual installments on October 31, 2024, October 31, 2025, October 31, 2026, October 31, 2027 and October 31, 2028.