Sumit Singh - 15 Aug 2022 Form 4 Insider Report for Chewy, Inc. (CHWY)

Signature
/s/ Susan Helfrick, as Attorney-in-Fact for Sumit Singh
Issuer symbol
CHWY
Transactions as of
15 Aug 2022
Net transactions value
-$11,259,525
Form type
4
Filing time
17 Aug 2022, 20:05:19 UTC
Previous filing
16 Jun 2022
Next filing
29 Aug 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CHWY Class A Common Stock Sale $9,785,310 -198,848 -28% $49.21 523,853 15 Aug 2022 Direct F1, F2
transaction CHWY Class A Common Stock Sale $943,407 -18,838 -3.6% $50.08 505,015 15 Aug 2022 Direct F1, F3
transaction CHWY Class A Common Stock Sale $15,216 -300 -0.06% $50.72 504,715 15 Aug 2022 Direct F1, F4
transaction CHWY Class A Common Stock Sale $470,448 -9,560 -14% $49.21 60,261 15 Aug 2022 By spouse F5, F6
transaction CHWY Class A Common Stock Sale $45,144 -900 -1.5% $50.16 59,361 15 Aug 2022 By spouse F5, F7
holding CHWY Class A Common Stock 62,500 15 Aug 2022 Direct F8
holding CHWY Class A Common Stock 746,834 15 Aug 2022 Direct F9
holding CHWY Class A Common Stock 679 15 Aug 2022 By spouse F10
holding CHWY Class A Common Stock 5,070 15 Aug 2022 By spouse F11
holding CHWY Class A Common Stock 12,424 15 Aug 2022 By spouse F12
holding CHWY Class A Common Stock 71,696 15 Aug 2022 By spouse F13
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents sales effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person.
F2 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions in prices ranging from $48.69 to $49.68, inclusive. The reporting person undertakes to provide to Chewy, Inc., any security holder of Chewy, Inc. 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 ranges set forth in footnotes 2 through 4, 6 and 7 to this Form 4.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions in prices ranging from $49.69 to $50.67, inclusive.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions in prices ranging from $50.71 to $50.742, inclusive.
F5 Represents sales effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person's spouse.
F6 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions in prices ranging from $48.77 to $49.67, inclusive.
F7 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions in prices ranging from $49.77 to $50.50, inclusive.
F8 Represents restricted stock units granted to the filing person on April 5, 2021. Each restricted stock unit represents a contingent right to receive one share of Class A common stock of Chewy, Inc. The restricted stock units will vest on March 1, 2023, subject to the filing person's continued employment with Chewy, Inc. through the vesting date.
F9 Represents restricted stock units. Each restricted stock unit represents a contingent right to receive one share of Class A common stock of Chewy, Inc. The time-vesting condition will be satisfied with respect to 50% of these restricted stock units on December 13, 2022 and at the end of each six-month period thereafter, subject to the filing person's continued employment with Chewy, Inc. through the applicable vesting date. The share price condition will be satisfied with respect to a percentage of these restricted stock units, as and when the price per share of Class A common stock specified in Chewy, Inc.'s Registration Statement on Form S-1 (File No. 333-231095), as amended, is achieved, on a weighted-average basis, on every trading day during a consecutive 45-day trading period completed prior to December 14, 2024, subject to the filing person's continued employment with Chewy, Inc. through the applicable vesting date. The share price condition has been satisfied with respect to 100% of these restricted stock units.
F10 Represents performance-based restricted stock units ("PRSUs") granted to the filing person's spouse. Each PRSU represents a contingent right to receive one share of Class A common stock of Chewy, Inc. The PRSUs were initially granted on April 5, 2021 and the amount of PRSUs eligible for vesting was subject to certification of the satisfaction of certain performance conditions for the 2021 fiscal year by the Compensation Committee of the Board of Directors. On March 31, 2022, the Compensation Committee of the Board of Directors certified the achievement of the performance conditions for the PRSUs, which vest on March 1, 2024, subject to the filing person's spouse's continued employment with Chewy, Inc. through the vesting date.
F11 Represents restricted stock units granted to the filing person's spouse on April 5, 2021. Each restricted stock unit represents a contingent right to receive one share of Class A common stock of Chewy, Inc. With respect to 4,154 of the restricted stock units, 50% of such restricted stock units will vest on September 1, 2023, 25% of such restricted stock units will vest on March 1, 2024, and 12.5% of such restricted stock units will vest on each six-month anniversary thereafter, subject to the filing person's spouse's continued employment with Chewy, Inc. through the applicable vesting date. The remaining 916 of the restricted stock units will vest on March 1, 2023, subject to the filing person's spouse's continued employment with Chewy, Inc. through the applicable vesting date.
F12 Represents restricted stock units granted to the filing person's spouse on April 7, 2022. The restricted stock units are subject to time-vesting conditions. With respect to 8,480 of the restricted stock units, 25% of such restricted stock units will vest on February 1, 2023 and 12.5% of such restricted stock units will vest on each six-month anniversary thereafter, subject to the filing person's spouse's continued employment with Chewy, Inc. through the applicable vesting date. With respect to 457 of the restricted stock units, 100% of such restricted stock units will vest on March 1, 2024, subject to the filing person's spouse's continued employment with Chewy, Inc. through the vesting date. With respect to 3,487 of the restricted stock units, 50% of such restricted stock units will vest on February 1, 2023, and the remaining 50% of the restricted stock units will vest on February 1, 2024, subject to the filing person's spouse's continued employment with Chewy, Inc. through the applicable vesting date. Each restricted stock unit represents a contingent right to receive one share of Class A common stock of Chewy, Inc.
F13 Represents restricted stock units granted to the filing person's spouse. Each restricted stock unit represents a contingent right to receive one share of Class A common stock of Chewy, Inc. The time-vesting condition will be satisfied with respect to 50% of these restricted stock units on December 13, 2022 and at the end of each six-month period thereafter, subject to the filing person's spouse's continued employment with Chewy, Inc. through the applicable vesting date. The share price condition will be satisfied with respect to a percentage of these restricted stock units, as and when the price per share of Class A common stock specified in Chewy, Inc.'s Registration Statement on Form S-1 (File No. 333-231095), as amended, is achieved, on a weighted-average basis, on every trading day during a consecutive 45-day trading period completed prior to December 14, 2024, subject to the filing person's spouse's continued employment with Chewy, Inc. through the applicable vesting date. The share price condition has been satisfied with respect to 100% of these restricted stock units.