Head David W sold PBPB

October 23, 2025 · Form 4 insider transaction

Head David W sold 147,726 shares of PBPB at $17.12 per share, a transaction worth $2.53M. The trade was recorded as disposition to the issuer and disclosed on an SEC Form 4, filed 4 days after the transaction.

Direction
Disposed (sell-side)
Shares
147,726
Price
$17.12
Total value
$2.53M
Role
CompanyPBPB
SecurityCommon Stock
Transaction codeD: Disposition to the issuer
Transaction dateOctober 23, 2025
Filing dateOctober 27, 2025
Shares owned after0
OwnershipDirect
10b5-1 planNo
AmendedNo

Footnotes

Pursuant to the Agreement and Plan of Merger, dated as of September 9, 2025 (the 'Merger Agreement'), by and among the Issuer, RaceTrac, Inc. ('Parent'), and Hero Sub Inc. ('Merger Sub'), Merger Sub merged with and into the Issuer (the 'Merger'), with the Issuer surviving the Merger as a wholly owned subsidiary of Parent. At the effective time of the Merger (the 'Effective Time'), upon the terms and subject to the conditions set forth in the Merger Agreement, each share of common stock, par value $0.01 per share ('Common Stock'), of the Issuer that was issued and outstanding as of immediately prior to the Effective Time was automatically cancelled, extinguished and converted into the right to receive $17.12 per share in cash, without interest thereon (but subject to applicable withholding) (the 'Per Share Price').; Includes 9,765 unvested restricted stock units ('RSUs'). Pursuant to the terms of the Merger Agreement, at the Effective Time, (A) each RSU that is outstanding and vested (but not yet settled) as of immediately prior to the Effective Time, taking into account any acceleration of vesting of any RSU that occurs upon the Effective Time (each, a 'Vested RSU'), was automatically cancelled and converted into the right to receive an amount in cash, without interest thereon (but subject to applicable withholding), equal to the product obtained by multiplying (i) the Per Share Price by (ii) the total number of shares of Common Stock subject to such RSU and (B) each outstanding RSU that was not a Vested RSU (each, an 'Unvested RSU') was automatically cancelled and substituted into the contingent right to receive an aggregate amount (without interest) in cash (a 'Substituted RSU Cash Award') equal to the product obtained by multiplying (i) the Per Share Price by (ii) the total number of shares of; (continued from footnote 2) Common Stock subject to such RSU. Each such Substituted RSU Cash Award will continue to have, and will be subject to, the same vesting terms and conditions as applied to the corresponding Unvested RSU immediately prior to the Effective Time, except that each such Substituted RSU Cash Award will be afforded double-trigger accelerated vesting upon the applicable holder's termination without cause or resignation for good reason, in each case, that occurs during a post-closing period.

View the original Form 4 on SEC EDGAR
Head David W sold PBPB: October 23, 2025 | Insider Trading Screener