Director Matthew Croatti filed a Form 4 with the SEC on October 27, 2026, reporting the automatic exercise of 1,000 stock appreciation rights and the withholding of 669 shares for taxes in transactions dated October 23, 2026, related to UniFirst Corp common stock.

Key Highlights

  • Automatic SAR exercise: 1,000 stock appreciation rights with an exercise price of $119 were automatically exercised on October 23, 2026, immediately prior to their expiration on October 24, 2026.
  • Shares acquired: The exercise resulted in 1,000 shares of common stock acquired (transaction code M) at a price of $119.
  • Tax withholding: 669 shares were withheld for taxes (transaction code F) at a price of $281.29 per share.
  • Resulting ownership: Following the transactions, Croatti directly holds 11,243 shares of common stock.
  • No open-market sale: According to the filing, "there was no sale of shares acquired upon such automatic exercise."
  • Unvested RSUs included: The 11,243 share total includes multiple tranches of restricted stock units with remaining vesting installments through October 31, 2028, and 9,465 shares of common stock owned outright.

Matthew Croatti's SAR Exercise and Share Withholding at UniFirst Corp

According to the Form 4 filed with the SEC, Matthew Croatti, a director of UniFirst Corp (NYSE:UNF), reported two transactions on October 23, 2026. The first was the automatic exercise of 1,000 stock appreciation rights at a base price of $119, acquired under transaction code M. The filing states the SARs "were automatically exercised in accordance with the terms of the award agreement" immediately before their scheduled expiration date of October 24, 2026.

The second transaction, coded F, reflects 669 shares withheld for taxes upon the stock-settled SAR exercise at a price of $281.29 per share. The filing specifies that no shares acquired in the exercise were sold on the open market. Following both transactions, Croatti's direct beneficial ownership stood at 11,243 shares of common stock.

The filing details that the 11,243-share total is composed of 9,465 shares of common stock held outright and several tranches of restricted stock units: 94 RSUs vesting in one remaining installment on October 31, 2026; 237 RSUs vesting in two equal installments on October 31, 2026 and October 31, 2027; 411 RSUs vesting in three equal installments on October 31, 2026, October 31, 2027, and October 31, 2028; 390 RSUs vesting in two equal installments on October 31, 2026 and October 31, 2027; and 646 RSUs vesting in three equal installments on October 31, 2026, October 31, 2027, and October 31, 2028. The derivative security table shows that following the exercise, Croatti holds zero remaining SARs of this grant.

What Was Disclosed

UniFirst Corp director Matthew Croatti disclosed the automatic exercise of 1,000 SARs at $119 and the withholding of 669 shares at $281.29 for tax purposes on October 23, 2026, leaving him with direct beneficial ownership of 11,243 shares, including unvested RSU tranches.