Every officer and director reconciles for this period.
External context: we only cite outside events when a documented connection exists. None is shown for this period.
What stands out
Two officers sold more than 25% of vested holdings: Kelly Costanza (49% of holdings, $5.1M, none under a disclosed plan) and Kenneth Bertram (36% of holdings, $1.5M, none under a disclosed plan).Kelly Costanza: largest sale, Feb 26, 2026 · Kenneth Bertram: largest sale, Mar 5, 2026
Outside holder Artal International S.C.A., a 10% owner and not part of management, sold $271M of stock, 32% of the starting stake.Largest sale, Jun 15, 2026
Three officers bought shares: Douglas Thompson (13K shares, $945K), Joseph Kadow (3K shares, $199K) and Brett Schulman (150 shares, $7K).Douglas Thompson: purchase, Aug 31, 2026 · Joseph Kadow: purchase, May 29, 2026 · Brett Schulman: purchase, Nov 12, 2025
Percentages cover 14 of 17 officers and directors. Left out: Adam Phillips and Karen Kochevar (most of their shares vested during the period, so a percentage would mislead); Amiee Thomas (held no vested shares at the start). Disclosed company stock is not an insider's whole wealth.
Who sold, and how much of their stake
Officers and directors, past 12 months. Each bar is the insider's vested stake at the start of the period (Oct 8, 2025). The gold part is what they sold.
SoldRest of starting stakeAdded during the period
Kelly Costanza
Chief People Officer
49% · $5.1MNo plan disclosed
Brett Schulman
CEO and President, Director
3.9% · $4.7MNo plan disclosed
Kenneth Bertram
CLO & Secretary
36% · $1.5MNo plan disclosed
Theodoros Xenohristos
Chief Concept Officer, Director
4.1% · $1.1MNo plan disclosed
Adam Phillips
Chief Accounting Officer
Sold 66% of the shares held or received (after tax withholding) during the period†. No bar against the starting stake: most of these shares arrived during the period.
$1.1MNo plan disclosed
Selling by month
Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.
Disclosed planTo cover taxesNo plan disclosed
Outside holders, reported separately
Artal International S.C.A. sold $271M in the past 12 months. Large shareholders and the funds or companies that board members represent are not part of management, so they are left out of the figures above.
Common questions
Is the Cava Group, Inc. CEO selling stock?
Yes. Brett Schulman sold 59K shares ($4.7M, 3.9% of starting holdings) in the past 12 months, none of it under a trading plan disclosed in the filings.
Why are Cava Group, Inc. insiders selling?
Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 0% of sales by value ran under 10b5-1 trading plans disclosed in the filings, 53% were to cover taxes and 47% had no disclosed plan. A trading plan schedules sales in advance.
Are any Cava Group, Inc. insiders buying?
Yes. 3 officers or directors reported 7 purchases in the past 12 months (Form 4 code P, which includes private purchases).
How much of their stake did Cava Group, Inc. insiders sell?
About 2.4% overall. As a group they still hold 99.7% of their starting shares. The biggest individual seller, Kelly Costanza, gave up 49% of starting holdings. That covers the 12 months to Oct 8, 2026 and counts vested shares reported on SEC Forms 3, 4 and 5, which is not an insider's whole wealth.
The evidence
Who sold7 officers and directors: amount, % of holdings, trading plan
| Who sold | Amount | % of holdings | Trading plan |
|---|---|---|---|
| Kelly Costanza Chief People Officer | $5.1M 61K shares | 49% | No plan disclosed |
| Brett Schulman CEO and President, Director | $4.7M 59K shares | 3.9% | No plan disclosed |
| Kenneth Bertram CLO & Secretary | $1.5M 21K shares | 36% | No plan disclosed |
| Theodoros Xenohristos Chief Concept Officer, Director | $1.1M 14K shares | 4.1% | No plan disclosed |
| Adam Phillips Chief Accounting Officer | $1.1M 13K shares | 66%†i† Most of the shares Adam Phillips sold arrived during the period, so this is shares sold as a share of the 11K held at the start plus the 9K received, less 0 withheld by the company for taxes. | No plan disclosed |
| Karen Kochevar Director | $900K 10K shares | 76%†i† Most of the shares Karen Kochevar sold arrived during the period, so this is shares sold as a share of the 3.1K held at the start plus the 10K received, less 0 withheld by the company for taxes. | No plan disclosed |
| Tricia Tolivar Chief Financial Officer | $742K 9.6K shares | 4.0% | No plan disclosed |
Board members representing outside shareholders, reported separately: Ronald Shaich. Details
Outside holder, reported separately: Artal International S.C.A. (a 10% owner, not part of management). Sold $271M (3.00M shares) from Jun 15, 2026 to Jun 15, 2026. Holds 6.51M shares. Latest filing
The full ownership picture17 of 17 insiders fully reconciled · 17 officers and directors
Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.
| Insider | Held Oct 8, 2025 | Sold | Held Oct 8, 2026 | Still held | ||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Ronald ShaichiIncludes unvested RSUs, amount not disclosed. Shares held through Act III Holdings, LLC belong to an outside shareholder this director represents; they are listed under "Board members representing outside shareholders", not here. Director | 4.28M | 0 | 4.29M | no sales | ||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Ronald Shaich0shares vested or exercised 0gifted (net of own trusts) none reportedunvested awards, start → end
| ||||||||||||||||||||||||||||||||||||
Brett SchulmaniIncludes unvested RSUs, amount not disclosed. An owner entity could not be identified from the footnotes. CEO and President, Director | 1.53M | −59K | 1.54M | +0.4% | ||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Brett Schulman+37Kshares vested or exercised 0gifted (net of own trusts) none reportedunvested awards, start → end
Stock options (not counted as shares):
Estimate: options held × ($49.96 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close. | ||||||||||||||||||||||||||||||||||||
Theodoros XenohristosiIncludes unvested RSUs, amount not disclosed. Chief Concept Officer, Director | 350K | −14K | 341K | 97% | ||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Theodoros Xenohristos0shares vested or exercised 0gifted (net of own trusts) none reportedunvested awards, start → end
Stock options (not counted as shares):
Estimate: options held × ($49.96 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close. | ||||||||||||||||||||||||||||||||||||
Tricia TolivariIncludes unvested RSUs, amount not disclosed. Chief Financial Officer | 239K | −9.6K | 238K | 99% | ||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Tricia Tolivar0shares vested or exercised 0gifted (net of own trusts) none reportedunvested awards, start → end
Stock options (not counted as shares):
Estimate: options held × ($49.96 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close. | ||||||||||||||||||||||||||||||||||||
David BossermaniIncludes unvested RSUs, amount not disclosed. Director | 144K | 0 | 146K | no sales | ||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for David Bosserman | ||||||||||||||||||||||||||||||||||||
Jennifer SomersiIncludes unvested RSUs, amount not disclosed. Chief Operations Officer | 137K | 0 | 137K | no sales | ||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Jennifer Somers0shares vested or exercised 0gifted (net of own trusts) none reportedunvested awards, start → end
Stock options (not counted as shares):
Estimate: options held × ($49.96 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close. | ||||||||||||||||||||||||||||||||||||
Kelly CostanzaiIncludes unvested RSUs, amount not disclosed. Chief People Officer | 123K | −61K | 98K | 80% | ||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Kelly Costanza+32Kshares vested or exercised 0gifted (net of own trusts) none reportedunvested awards, start → end
Stock options (not counted as shares):
Estimate: options held × ($49.96 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close. | ||||||||||||||||||||||||||||||||||||
Kenneth BertramiIncludes unvested RSUs, amount not disclosed. CLO & Secretary | 57K | −21K | 40K | 70% | ||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Kenneth Bertram0shares vested or exercised 0gifted (net of own trusts) none reportedunvested awards, start → end
Stock options (not counted as shares):
Estimate: options held × ($49.96 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close. | ||||||||||||||||||||||||||||||||||||
Philippe AmouyaliIncludes unvested RSUs, amount not disclosed. Director | 18K | 0 | 20K | no sales | ||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Philippe Amouyal | ||||||||||||||||||||||||||||||||||||
Adam PhillipsiIncludes unvested RSUs, amount not disclosed. Chief Accounting Officer | 11K | −13K | 6.8K | not meaningful | ||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Adam Phillips+7.9Kshares vested or exercised 0gifted (net of own trusts) none reportedunvested awards, start → end
Stock options (not counted as shares):
Estimate: options held × ($49.96 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close. | ||||||||||||||||||||||||||||||||||||
Benjamin FeltiIncludes unvested RSUs, amount not disclosed. Director | 8.1K | 0 | 10K | no sales | ||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Benjamin Felt | ||||||||||||||||||||||||||||||||||||
Lauri ShanahaniIncludes unvested RSUs, amount not disclosed. Director | 8.1K | 0 | 10K | no sales | ||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Lauri Shanahan | ||||||||||||||||||||||||||||||||||||
Douglas ThompsoniIncludes unvested RSUs, amount not disclosed. Started reporting during the period; starting holdings are from the Form 3. Chief Operations Officer | 6.4K | 0 | 19K | no sales | ||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Douglas Thompson0shares vested or exercised 0gifted (net of own trusts) none reportedunvested awards, start → end
| ||||||||||||||||||||||||||||||||||||
James WhiteiIncludes unvested RSUs, amount not disclosed. Director | 5.6K | 0 | 7.5K | no sales | ||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for James White | ||||||||||||||||||||||||||||||||||||
Joseph KadowiIncludes unvested RSUs, amount not disclosed. Started reporting during the period; starting holdings are from the Form 3. CLO & Secretary | 5K | 0 | 8K | no sales | ||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Joseph Kadow0shares vested or exercised 0gifted (net of own trusts) none reportedunvested awards, start → end
| ||||||||||||||||||||||||||||||||||||
Karen KochevariIncludes unvested RSUs, amount not disclosed. Director | 3.1K | −10K | 3.1K | not meaningful | ||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Karen Kochevar+10Kshares vested or exercised 0gifted (net of own trusts) none reportedunvested awards, start → end
Stock options (not counted as shares):
Estimate: options held × ($49.96 − strike price), using the most recent insider trade price on Form 4 (Sep 15, 2026), not a market close. | ||||||||||||||||||||||||||||||||||||
Amiee ThomasiIncludes unvested RSUs, amount not disclosed. Director | 0 | 0 | 1.8K | no sales | ||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Amiee Thomas0shares vested or exercised 0gifted (net of own trusts) none reportedunvested awards, start → end
| ||||||||||||||||||||||||||||||||||||
17 of 17 insiders fully reconciled: starting holdings plus reported transactions match ending holdings (17 exactly, 0 with a minor or footnoted difference). Percentages cover 14 of 17 officers and directors. Left out: Adam Phillips and Karen Kochevar (most of their shares vested during the period, so a percentage would mislead); Amiee Thomas (held no vested shares at the start). "Still held" compares ending with starting vested shares; a plus sign means the holding grew.
What explains the selling$15.2M of sales by plan status, purpose, seller and month
Officer and director open-market sales: $15.2M across 188,057 shares. Plan status and stated purpose are separate questions, and a sale can have both.
No plan disclosed · $7.1M
Sales with no 10b5-1 plan and no tax reference in the filing. $3.8M of it is Kelly Costanza. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: Kelly Costanza, Feb 26, 2026
Taxes
$8.1M of sales (53.3%) cite tax obligations in their footnotes. Example: Adam Phillips, Jun 15, 2026
Purchases · 3 buyers (7 trades)
3 officers and directors bought shares in this period, in 7 trades(Form 4 code P). Across all their filings on record there are 14 purchase trades.
| Seller | Shares sold | Proceeds | Under a disclosed plan | Share of total | Sales dates |
|---|---|---|---|---|---|
| Kelly Costanza Chief People Officer | 61K | $5.1M | 0% | 33% | Jan 21, 2026 to Jun 17, 2026 |
| Brett Schulman CEO and President, Director | 59K | $4.7M | 0% | 31% | Jan 21, 2026 to Jun 15, 2026 |
| Kenneth Bertram CLO & Secretary | 21K | $1.5M | 0% | 10% | Nov 26, 2025 to Mar 5, 2026 |
| Theodoros Xenohristos Chief Concept Officer, Director | 14K | $1.1M | 0% | 8% | Jan 21, 2026 to Jun 15, 2026 |
| Adam Phillips Chief Accounting Officer | 13K | $1.1M | 0% | 7% | Jan 27, 2026 to Jun 15, 2026 |
| Karen Kochevar Director | 10K | $900K | 0% | 6% | Jun 18, 2026 to Jun 18, 2026 |
| Tricia Tolivar Chief Financial Officer | 9.6K | $742K | 0% | 5% | Jan 21, 2026 to Jun 15, 2026 |
Sales by month
| Month | Sale proceeds | Disclosed plan | To cover taxes | No plan disclosed |
|---|---|---|---|---|
| Oct 2025 | $0 | $0 | $0 | $0 |
| Nov 2025 | $192K | $0 | $0 | $192K |
| Dec 2025 | $0 | $0 | $0 | $0 |
| Jan 2026 | $2.6M | $0 | $2.6M | $0 |
| Feb 2026 | $2.9M | $0 | $0 | $2.9M |
| Mar 2026 | $1.2M | $0 | $0 | $1.2M |
| Apr 2026 | $0 | $0 | $0 | $0 |
| May 2026 | $1.9M | $0 | $1.5M | $400K |
| Jun 2026 | $6.5M | $0 | $4.0M | $2.4M |
| Jul 2026 | $0 | $0 | $0 | $0 |
| Aug 2026 | $0 | $0 | $0 | $0 |
| Sep 2026 | $0 | $0 | $0 | $0 |
| Oct 2026 | $0 | $0 | $0 | $0 |
Board members representing outside shareholders (1)Listed and sourced; not part of the management totals or the answer line
Directors whose reported holdings sit mostly in an investment fund or a corporate shareholder they represent, not in their own name, with beneficial ownership disclaimed except for their own financial interest. Listed and sourced here; not part of the management totals or the answer line. Shares a fund hands to its own investors are distributions, not sales.
| Board member | Held Oct 8, 2025 | Sold | Held Oct 8, 2026 | Still held |
|---|---|---|---|---|
| Ronald Shaich Director | 253K | 0 | 253K | no sales |
Is this normal? Selling year by yearNot enough history to compare
Not enough history to compare: fewer than three earlier years of filings.
| 12 months ending | Shares sold | Insiders who sold | Proceeds |
|---|---|---|---|
| Oct 8, 2026 Latest 12 months | 188K | 7 | $15.2M |
| Oct 8, 2025 1 year earlier | 1.94M | 9 | $283M |
| Oct 8, 2024 2 years earlier | 5.71M | 9 | $499M |
| Oct 9, 2023 3 years earlier · filings don't cover the whole year | n/a | n/a | n/a |
| Oct 9, 2022 4 years earlier · filings don't cover the whole year | n/a | n/a | n/a |
| Oct 9, 2021 5 years earlier · filings don't cover the whole year | n/a | n/a | n/a |
Open-market sales (Form 4 code S) by people who were officers or directors, in split-adjusted shares. Earlier years include people who have since left. A sale that an outside holder also reports (a family trust, a fund) is counted with outside holders in every year. Shares, not dollars, are compared, so a change in the stock price doesn't look like a change in selling. Years the filings don't fully cover are shown but left out of the average.
Known gaps and uncertaintyEvery officer and director reconciles
Sources and methodology203 filings from SEC EDGAR, and how we read them
All 203 Forms 3, 4 and 5 filed for Cava Group, Inc. (SEC CIK 1639438) from Jun 15, 2023 to Sep 16, 2026, retrieved from SEC EDGAR on Oct 8, 2026. Prices are the ones reported in each filing, often weighted averages.
Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.
Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".
Former or inactive filers (3)No filing in 18 months; last reported balances, not in any total
| Name | Last filed | Last reported balance |
|---|---|---|
| SWaN Hospitality LLC | Jun 22, 2023 | 9,619,992 shares, last reported balance as of Jun 20, 2023 |
| Todd Klein | Jun 22, 2023 | 5,000 shares, last reported balance as of Jun 20, 2023 |
| Todd Klein | No balance on record |