Russell Diez-Canseco - 11 Sep 2024 Form 4 Insider Report for Vital Farms, Inc. (VITL)

Role
PRESIDENT AND CEO, Director
Signature
/s/ Jason Minio, Attorney-in-Fact
Issuer symbol
VITL
Transactions as of
11 Sep 2024
Net transactions value
-$2,886,020
Form type
4
Filing time
13 Sep 2024, 16:15:18 UTC
Previous filing
14 Aug 2024
Next filing
16 Oct 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VITL Common Stock Options Exercise $952,552 +74,360 +14% $12.81 596,762 11 Sep 2024 Direct
transaction VITL Common Stock Options Exercise $392,548 +25,640 +4.3% $15.31 622,402 11 Sep 2024 Direct
transaction VITL Common Stock Sale $3,118,000 -100,000 -16% $31.18 522,402 11 Sep 2024 Direct F1
transaction VITL Common Stock Options Exercise $279,752 +52,500 +10% $5.33 574,902 12 Sep 2024 Direct F2
transaction VITL Common Stock Sale $1,392,872 -45,400 -7.9% $30.68 529,502 12 Sep 2024 Direct F2, F3

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 VITL Employee Stock Option (right to buy) Options Exercise $0 -74,360 -65% $0.000000 39,800 11 Sep 2024 Common Stock 74,360 $12.81 Direct F4
transaction VITL Employee Stock Option (right to buy) Options Exercise $0 -25,640 -17% $0.000000 128,743 11 Sep 2024 Common Stock 25,640 $15.31 Direct F5
transaction VITL Employee Stock Option (right to buy) Options Exercise $0 -52,500 -11% $0.000000 438,764 12 Sep 2024 Common Stock 52,500 $5.33 Direct F2, F6
* 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 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $31.00 to $31.39 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (1) and (3).
F2 This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 8, 2023.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $30.25 to $31.12 inclusive.
F4 The option vests in three equal annual installments commencing on March 10, 2023, subject to the Reporting Person's continuous service with the Issuer as of the applicable vesting date.
F5 The option vests in three equal annual installments commencing on March 13, 2024, subject to the Reporting Person's continuous service with the Issuer as of the applicable vesting date.
F6 One-fifth (1/5th) of the shares subject to the option vested or will vest in equal annual installments commencing on August 22, 2020, subject to the Reporting Person continuing to provide service through each such date.