BULL KENNETH R 4

What Happened
Kenneth R. Bull, Chief Operating Officer of Five Below (FIVE), had a total of 2,823 shares withheld to satisfy tax liabilities related to equity award/option exercise. On 2026-03-20, 2,011 shares were withheld at $227.42 each (value $457,342); on 2026-03-21, 812 shares were withheld at $227.42 each (value $184,665). Combined, 2,823 shares were disposed/withheld for taxes, totaling about $642,007. This is a tax-withholding disposition (code F), not an open-market sale.

Key Details

• Transaction dates and prices: 2026-03-20 — 2,011 shares @ $227.42 ($457,342); 2026-03-21 — 812 shares @ $227.42 ($184,665).
• Total shares withheld/disposed: 2,823; total value ≈ $642,007.
• Transaction code: F = payment of exercise price or tax liability (share withholding). These shares were surrendered/withheld to cover taxes, not sold on the open market.
• Shares owned after transaction: not specified in the summary provided — see the Form 4 for post-transaction beneficial ownership.
• Filing date: Form 4 filed 2026-03-24; appears timely relative to the reported transaction dates.

Context
Share withholding to cover taxes is a common, routine outcome of option exercises or award vesting and does not necessarily signal a deliberate decision to liquidate holdings. For retail investors, purchases tend to be more informative about insider sentiment; these withholding transactions simply satisfy tax obligations arising from equity compensation.