President and CEO Sintros Steven S sold $619,088 worth of shares (3,207 units at $193.04), covered exercise/tax liability with 1,760 shares and was granted 8,089 shares, increasing direct ownership by 12% to 28,900 units (SEC Form 4)
$UNF
Other Consumer Services
Consumer Discretionary
| FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
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Check this box to indicate that a 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). See Instruction 10. | ||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
UNIFIRST CORP [ UNF ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 11/19/2024 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Common Stock | 11/19/2024 | S | 1,771(1) | D | $192.6(2) | 24,007 | D | |||
| Common Stock | 11/19/2024 | S | 1,322(1) | D | $193.52(3) | 22,685 | D | |||
| Common Stock | 11/19/2024 | S | 114(1) | D | $194.39(4) | 22,571 | D | |||
| Common Stock | 11/19/2024 | F | 273(5) | D | $192.83 | 22,298 | D | |||
| Common Stock | 11/19/2024 | A | 3,421(6) | A | $0 | 25,719 | D | |||
| Common Stock | 11/19/2024 | F | 1,487(5) | D | $192.83 | 24,232 | D | |||
| Common Stock | 11/19/2024 | A | 4,668(7) | A | $0 | 28,900(8) | D | |||
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Stock Appreciation Right(9) | $192.83 | 11/19/2024 | A | 6,807 | (9) | 11/19/2034 | Common Stock ($0.10 par value) | 6,807 | $0 | 6,807 | D | ||||
| Explanation of Responses: |
| 1. Represents shares sold pursuant to a trading plan intended to comply with Rule 10b5-1(c) and adopted on August 16, 2024. |
| 2. The price reported is a weighted average price. The shares were sold in multiple transactions at prices ranging from $192.06 to $192.95, 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. |
| 3. The price reported is a weighted average price. The shares were sold in multiple transactions at prices ranging from $193.10 to $194.00, 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. |
| 4. The price reported is a weighted average price. The shares were sold in multiple transactions at prices ranging from $194.31 to $194.50, 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. |
| 5. Represents shares of Common Stock withheld by UniFirst Corporation to satisfy certain tax withholding obligations in connection with the vesting of certain restricted stock units. |
| 6. Represents restricted stock units that were earned based on the achievement of certain performance criteria and which vested. |
| 7. Represents restricted stock units granted under the UniFirst Corporation 2023 Stock Option and Incentive Plan (the "2023 Plan"). Such restricted stock units vest in three equal annual installments on October 31, 2025, October 31, 2026 and October 31, 2027. |
| 8. Consists of (i) 16,081 shares of Common Stock owned by the reporting person, (iii) 645 restricted stock units that will vest in one remaining annual installment on November 19, 2025, (iv) 1,493 restricted stock units that vest in two remaining equal annual installments on October 31, 2025 and October 31, 2026, (v) 2,363 restricted stock units that vest in three remaining equal annual installments on October 31, 2025, October 31, 2026 and October 31, 2027, (vi) 3,650 restricted stock units that vest in four equal annual installments on October 31, 2025, October 31, 2026, October 31, 2027 and October 31, 2028 and (vii) 4,668 restricted stock units that vest in three equal annual installments on October 31, 2025, October 31, 2026 and October 31, 2027 |
| 9. This stock appreciation right, which was granted under the 2023 Plan, becomes vested and exercisable in three equal annual installments on October 31, 2025, October 31, 2026 and October 31, 2027. This stock appreciation right is required to be settled in stock at the time of exercise. |
| /s/ Andrea Ballute, Attorney-in-Fact | 11/22/2024 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||