Kelly M. Kaiser, General Counsel and Secretary of Portillo's Inc. (NASDAQ:PTLO), filed a Form 4 on November 2, 2026, reporting the disposal of 10,405 shares of Class A common stock on October 31, 2026, to satisfy tax withholding obligations upon the vesting of a previously disclosed award.

Key Highlights

  • Reporting person: Kelly M. Kaiser, General Counsel and Secretary of Portillo's Inc.
  • Transaction date: October 31, 2026
  • Shares disposed: 10,405 shares of Class A common stock, transaction code F (tax withholding)
  • Price per share: $4.87
  • Remaining direct ownership: 134,515 shares of Class A common stock following the transaction
  • Purpose: Shares were deducted to satisfy tax withholding obligations on the vesting of a previously disclosed award, according to the filing

Kaiser's Tax Withholding Transaction at Portillo's: October 31, 2026 Details

According to the Form 4 filed with the U.S. Securities and Exchange Commission on November 2, 2026, Kelly M. Kaiser, who serves as General Counsel and Secretary of Portillo's Inc., reported a single transaction in Table I covering non-derivative securities. The filing discloses a disposal of 10,405 shares of Class A common stock at a price of $4.87 per share on October 31, 2026, under transaction code F.

The filing notes in its explanation of responses that the disposal "represents shares deducted to satisfy tax withholding obligations on the vesting of a previously disclosed award." This type of transaction, coded F, reflects shares withheld by the company to cover the reporting person's tax liability upon vesting, rather than an open-market sale. No derivative securities were reported in Table II of the filing.

Following the reported transaction, Kaiser directly held 134,515 shares of Portillo's Class A common stock, according to the filing. The form was signed by Kelly M. Kaiser and dated November 2, 2026. The filing was made individually, not jointly with any other reporting person.

What Was Disclosed

Portillo's General Counsel and Secretary Kelly M. Kaiser reported the withholding of 10,405 Class A common shares at $4.87 each on October 31, 2026, to satisfy tax obligations tied to a vesting event, leaving a direct holding of 134,515 shares.