BJ's Wholesale Club CEO Exercises Options and Sells $19.7M in Stock Under 10b5-1 Plan

Executive Summary

Between October 13, 2026, and October 15, 2026, Robert W. Eddy, President and Chief Executive Officer of BJ's Wholesale Club Holdings, Inc. ($BJ), executed transactions consisting of the exercise of 184,584 stock options and the disposition of 192,584 shares of Common Stock. The aggregate sale proceeds totaled approximately $19.67 million, with weighted average execution prices ranging from $100.18 to $105.41 per share.

Transaction Breakdown

1. Derivative Exercises (Code M):

   • October 13, 2026: Exercised 12,400 stock options at an exercise price of $17.00 per share.
   • October 14, 2026: Exercised 172,184 stock options at an exercise price of $17.00 per share.
   • Both tranches originated from an option grant set to expire on June 27, 2028, leaving 0 options remaining from this grant.

2. Open-Market Sales (Code S):

   • October 13, 2026: Sold 12,400 shares at a weighted average price of $100.18.
   • October 14, 2026: Sold 172,184 shares across four tranches at weighted average prices of $100.45, $101.49, $102.61, and $103.16.
   • October 15, 2026: Sold 8,000 shares across three tranches at weighted average prices of $103.46, $104.64, and $105.41.
   • Total shares sold: 192,584 shares for gross proceeds of $19,669,823.44.

Ownership Post-Transaction

Following these dispositions, Robert W. Eddy retains direct beneficial ownership of 258,330 shares of common stock, in addition to 2,000 shares held indirectly via dependent children.

Strategic & Market Implications

• Pre-Arranged Trading (Rule 10b5-1): The filing confirms that these transactions were conducted pursuant to a Rule 10b5-1 trading plan (aff10b5One = 1), mitigating concerns regarding opportunistic selling based on undisclosed material information.
• Significance Assessment: Rated as Medium. Although the gross dollar volume is substantial at nearly $20 million and executed by the company's chief executive, the vast majority (184,584 of the 192,584 shares sold) represents the exercise and subsequent liquidation of deep in-the-money options ($17.00 strike price), a standard executive compensation monetization pattern.