Mantle Ridge Form 4 Aramark / Paul C Hilal ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Mantle Ridge LP

(Last)

(First)

(Middle)

712 FIFTH AVENUE, SUITE 17F

(Street)

NEW YORK

10019

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Aramark [ ARMK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
Director by deputization

3. Date of Earliest Transaction (Month/Day/Year)
03/11/2020

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	03/11/2020		S		20,517,966	D	$26.01	3,579,199	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Common Stock	03/12/2020		S		874,149	D	$22.6	2,705,050	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			1,090,000	08/13/2019	08/13/2024	Common Stock	1,090,000	⁽⁷⁾	0	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			1,203,000	08/15/2019	08/15/2024	Common Stock	1,203,000	⁽⁷⁾	0	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			46,500	08/16/2019	08/16/2024	Common Stock	46,500	⁽⁷⁾	0	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			810,000	08/14/2019	08/14/2024	Common Stock	810,000	⁽⁷⁾	0	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			159,140	07/26/2019	07/26/2024	Common Stock	159,140	⁽⁷⁾	0	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			157,411	07/30/2019	07/30/2024	Common Stock	157,411	⁽⁷⁾	0	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			265,541	07/29/2019	07/29/2024	Common Stock	265,541	⁽⁷⁾	0	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			406,509	07/25/2019	07/25/2024	Common Stock	406,509	⁽⁷⁾	0	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			482,684	07/11/2019	07/11/2024	Common Stock	482,684	⁽⁷⁾	0	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			268,099	07/24/2019	07/24/2024	Common Stock	268,099	⁽⁷⁾	0	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			387,466	07/12/2019	07/12/2024	Common Stock	387,466	⁽⁷⁾	0	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			377,120	07/31/2019	07/31/2024	Common Stock	377,120	⁽⁷⁾	0	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			415,137	07/15/2019	07/15/2024	Common Stock	415,137	⁽⁷⁾	0	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			687,240	07/10/2019	07/10/2024	Common Stock	687,240	⁽⁷⁾	0	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			243,863	07/18/2019	07/18/2024	Common Stock	243,863	⁽⁷⁾	0	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			222,760	07/08/2019	07/08/2024	Common Stock	222,760	⁽⁵⁾⁽⁶⁾	0	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			492,053	07/17/2019	07/17/2024	Common Stock	492,053	⁽⁷⁾	0	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			120,819	07/05/2019	07/05/2024	Common Stock	120,819	⁽⁷⁾	0	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			437,610	07/16/2019	07/16/2024	Common Stock	437,610	⁽⁷⁾	0	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			179,341	07/03/2019	07/03/2024	Common Stock	179,341	⁽⁷⁾	0	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			425,476	07/19/2019	07/19/2024	Common Stock	425,476	⁽⁷⁾	0	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			418,576	08/01/2019	08/01/2024	Common Stock	418,576	⁽⁷⁾	0	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			372,693	07/23/2019	07/23/2024	Common Stock	372,693	⁽⁷⁾	19,102	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			497,441	07/09/2019	07/09/2024	Common Stock	497,441	⁽⁷⁾	0	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			241,638	07/02/2019	07/02/2024	Common Stock	241,638	⁽⁷⁾	14,362	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			678,259	10/09/2019	10/09/2024	Common Stock	678,259	⁽⁷⁾	174,300	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			689,047	06/28/2019	06/28/2024	Common Stock	689,047	⁽⁷⁾	40,953	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			409,034	07/22/2019	07/22/2024	Common Stock	409,034	⁽⁷⁾	63,966	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			677,366	10/09/2019	10/09/2024	Common Stock	677,366	⁽⁷⁾	0	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Cash Settled Forward Contracts⁽⁵⁾⁽⁶⁾	$26.01⁽⁵⁾⁽⁶⁾⁽⁷⁾	03/11/2020		J/K⁽⁵⁾⁽⁶⁾			108,778	10/09/2019	10/09/2024	Common Stock	108,778	⁽⁷⁾	35,222	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾

1. Name and Address of Reporting Person^*

Mantle Ridge LP

(Last)

(First)

(Middle)

712 FIFTH AVENUE, SUITE 17F

(Street)

NEW YORK

10019

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

MR BridgeStone Advisor LLC

(Last)

(First)

(Middle)

712 FIFTH AVENUE, SUITE 17F

(Street)

NEW YORK

10019

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

Hilal Paul C

(Last)

(First)

(Middle)

712 FIFTH AVENUE, SUITE 17F

(Street)

NEW YORK

10019

(City)

(State)

(Zip)

Explanation of Responses:

1. In addition to Mantle Ridge LP, a Delaware limited partnership ("Mantle Ridge"), this Form 4 is being filed jointly by MR BridgeStone Advisor LLC, a Delaware limited liability company ("MR BridgeStone") and Paul C. Hilal, a citizen of the United States of America (collectively, the "Reporting Persons"), each of whom has the same business address as Mantle Ridge and may be deemed to have a pecuniary interest in securities reported on this Form 4 (the "Subject Securities"). All Subject Securities reported on this Form 4 are rounded up to the nearest whole share.

2. MR BridgeStone, a wholly owned subsidiary of Mantle Ridge, advises the accounts of MR BridgeStone Offshore Fund AB Ltd and MR BridgeStone Offshore Fund CA 01 Ltd, each a Cayman Islands exempted company (all such funds and their subsidiaries together, the "Mantle Ridge Funds").

3. MR BridgeStone, as the investment adviser to the Mantle Ridge Funds, and Mantle Ridge, as the sole member of MR BridgeStone, each may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934. By virtue of Paul C. Hilal's position as ultimately controlling MR BridgeStone and Mantle Ridge, Paul C. Hilal may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a). Each of the Reporting Persons disclaims any beneficial ownership of any of the Subject Securities, except to the extent of any pecuniary interest therein.

4. Paul C. Hilal is a member of the board of directors of the Issuer, and as a result, each of the Reporting Persons are directors by deputization for purposes of Section 16 of the Securities Exchange Act of 1934.

5. On March 11, 2020, the Mantle Ridge Funds simultaneously (a) restructured most of their cash settled forward agreements ("Cash Settled Forward Agreements") into American-style call options on cash-settled forwards ("CSF-Option Agreements") and (b) restructured most of their Common Stock investments into American-style physically settled call options on Common Stock ("Physically Settled Call Options"). On March 12, 2020, the Mantle Ridge Funds sold some of their CSF-Option Agreements and some of their remaining shares of Common Stock. In connection with these transactions, the Mantle Ridge Funds are transferring to the Issuer amounts prescribed by Section 16(b) of the Securities Exchange Act of 1934 and the rules thereunder arising from the reported transactions and previously reported transactions.

6. Under the terms of each CSF-Option Agreement, if the relevant Mantle Ridge Fund exercises an option (and unless such Mantle Ridge Fund elects to settle such option for cash or for a net number of exercised forward agreements), upon paying the strike price, such Mantle Ridge Fund and its counterparty will be deemed to enter into a Cash Settled Forward Agreement referencing an aggregate number of shares of Common Stock equal to the notional shares underlying the exercised option. The forward price will equal the strike price plus the premium paid for the exercised option, subject to adjustment.

7. Under the terms of each Cash Settled Forward Agreement, the relevant Mantle Ridge Fund will be required to pay to the counterparty any decrease in, and have the right to receive from the counterparty any increase in, the market price of the referenced notional number of shares of Common Stock compared with the forward price described above.

Remarks:

Form 1 of 4

	MANTLE RIDGE LP, By: Mantle Ridge GP LLC, its general partner, By: PCH MR Advisor Holdings LLC, its managing member, By: /s/ Paul C. Hilal, Paul C. Hilal, Sole Member	03/13/2020
	MR BridgeStone Advisor LLC, By: Mantle Ridge LP, its sole member, By: Mantle Ridge GP LLC, its general partner, By: PCH MR Advisor Holdings LLC, its managing member, By: /s/ Paul C. Hilal, Paul C. Hilal, Sole Member	03/13/2020
	/s/ Paul C. Hilal, Paul C. Hilal	03/13/2020
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Mantle Ridge Form 4Aramark / Paul C Hilal ownership change