Nicholas Anthony Scarpino - Nov 11, 2022 Form 4 Insider Report for Portillo's Inc. (PTLO)

Role
SVP Marketing & Off-Premises
Signature
By: /s/ Susan Shelton, as attorney-in-fact for Nick Scarpino
Stock symbol
PTLO
Transactions as of
Nov 11, 2022
Transactions value $
-$474,720
Form type
4
Date filed
11/14/2022, 04:14 PM
Previous filing
Oct 25, 2022
Next filing
Dec 28, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PTLO Class A common stock Options Exercise $71K +21.5K +222.68% $3.30* 31.2K Nov 11, 2022 Direct F1, F2
transaction PTLO Class A common stock Sale -$546K -21.5K -69.01% $25.38 9.66K Nov 11, 2022 Direct 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 PTLO Stock Option (right to buy) Options Exercise $0 -21.5K -21.53% $0.00 78.3K Nov 11, 2022 Class A common stock 21.5K $3.30 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The transactions reported on this Form 4 were all effected pursuant to 10b5-1 trading plan entered into on September 7, 2022.
F2 Represents the exercise of options previously granted on 1/15/2015 pursuant to the Issuer's 2014 Equity Incentive Plan, which were substituted for options to purchase shares of Class A common stock under the Issuer's 2021 Equity Incentive Plan in connection with the Issuer's initial public offering. The options vested in equal annual installments on each of the first five anniversaries of the grant date, and are fully vested.
F3 Represents the weighted average sale price. These shares were sold in multiple transactions at prices ranging from $25.00 to $25.81, 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 aforementioned range.