Kim Scott - Oct 2, 2023 Form 4 Insider Report for Vestis Corp (VSTS)

Role
President and CEO, Director
Signature
/s/ Timothy Donovan, General Counsel, as Attorney-in-fact
Stock symbol
VSTS
Transactions as of
Oct 2, 2023
Transactions value $
$0
Form type
4
Date filed
10/4/2023, 09:26 PM
Previous filing
Sep 8, 2023
Next filing
Oct 20, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VSTS Common Stock, par value $0.01 per share Award +40.2K 40.2K Oct 2, 2023 Direct F1, F2, F3
transaction VSTS Common Stock, par value $0.01 per share Award +13.2K +32.9% 53.4K Oct 2, 2023 Direct F3, F4
transaction VSTS Common Stock, par value $0.01 per share Award +17.9K +33.57% 71.3K Oct 2, 2023 Direct F3, F5
transaction VSTS Common Stock, par value $0.01 per share Award $0 +27.2K +38.13% $0.00 98.5K Oct 2, 2023 Direct 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 VSTS Stock Option (Right to Buy) Award $0 +53.8K $0.00 53.8K Oct 2, 2023 Common Stock, par value $0.01 per share 53.8K $18.09 Direct F7
transaction VSTS Stock Option (Right to Buy) Award $0 +63K $0.00 63K Oct 2, 2023 Common Stock, par value $0.01 per share 63K $19.76 Direct F8
transaction VSTS Premium Stock Option (Right to Buy) Award $0 +320K $0.00 320K Oct 2, 2023 Common Stock, par value $0.01 per share 320K $20.41 Direct F9
transaction VSTS Stock Option (Right to Buy) Award $0 +65.1K $0.00 65.1K Oct 2, 2023 Common Stock, par value $0.01 per share 65.1K $17.01 Direct F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The transactions reported herein are the result of the consummation on September 30, 2023 of the distribution of approximately 130,725,188 shares of common stock of Vestis Corporation ("Vestis") by Aramark ("Aramark") to holders of Aramark common stock on a pro rata basis (the "Spin-Off").
F2 Represents conversion of an award of restricted stock units granted by Aramark into restricted stock units with respect to Vestis common stock as a result of the Spin-Off, which will vest 100% on October 18, 2023.
F3 Each restricted stock unit represents the right to receive, at settlement, one share of Vestis common stock.
F4 Represents conversion of an award of restricted stock units granted by Aramark into restricted stock units with respect to Vestis common stock as a result of the Spin-Off, which will vest 50% on November 18, 2023 and 50% on November 18, 2024.
F5 Represents conversion of an award of restricted stock units granted by Aramark into restricted stock units with respect to Vestis common stock as a result of the Spin-Off, which will vest 25% on November 17, 2023, 25% on November 17, 2024, 25% on November 17, 2025, and 25% on November 17, 2026.
F6 Represents a grant of restricted stock units, which vests in three equal annual installments beginning on the first anniversary of the grant date.
F7 Represents conversion of an option to purchase Aramark common stock granted by Aramark into the option to purchase Vestis common stock as a result of the Spin-Off, of which 33.33% is fully vested, 33.33% vests on November 18, 2023, and 33.34% vests on November 18, 2024. The exercise price reflects the adjustments that occurred as of October 2, 2023 in connection with the Spin-Off as described in the registration statement on Form 10 filed with the SEC by Vestis.
F8 Represents conversion of an option to purchase Aramark common stock granted by Aramark into the option to purchase Vestis common stock as a result of the Spin-Off, of which 25% vests on November 17, 2023, 25% vests on November 17, 2024, 25% vests on November 17, 2025 and 25% vests on November 17, 2026. The exercise price reflects the adjustments that occurred as of October 2, 2023 in connection with the Spin-Off as described in the registration statement on Form 10 filed with the SEC by Vestis.
F9 Represents a premium price option to purchase shares of Vestis common stock, which vests on the third anniversary of the date of grant.
F10 Represents an option to purchase shares of Vestis common stock, which vests in three equal annual installments beginning on the first anniversary of the grant date.