Form 4: B&G Foods VP Michael Adasczik Reports Stock Grant and Tax Withholding

Michael Adasczik, VP and Chief Accounting Officer of B&G Foods, reports the acquisition of restricted stock and the withholding of shares for tax obligations.

Summary

• On March 25, 2024, Michael Adasczik, VP and Chief Accounting Officer of B&G Foods, acquired 6,879 shares of restricted stock.
• These shares were granted under the B&G Foods, Inc. Omnibus Incentive Compensation Plan.
• The restricted stock vests in three equal installments on March 25, 2025, March 25, 2026, and March 25, 2027.
• Also on March 25, 2024, 696 shares of common stock were withheld by B&G Foods at a price of $11.36 to cover tax obligations.
• This withholding was related to the vesting of 2,032 shares of restricted stock on March 25, 2024, which were granted in previous years.
• Following these transactions, Adasczik directly owns 19,695 shares of B&G Foods common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The grant of restricted stock is a positive sign of investment in the executive, but the tax withholding is a neutral event.

Positives

• The grant of restricted stock to a key executive suggests a continued investment in and alignment with the company's long-term success.

Future Outlook

The executive's future compensation is tied to the vesting schedule of the restricted stock, incentivizing continued service and performance.

Industry Context

This filing is a routine disclosure of insider transactions, common in publicly traded companies to ensure transparency and compliance with securities regulations.

Comparison to Industry Standards

• Executive compensation packages including restricted stock are a standard practice among publicly traded companies like B&G Foods to incentivize performance and retain key personnel.
• Companies such as Conagra Brands (CAG) and Kellogg (K) also utilize similar equity-based compensation plans for their executives.

Stakeholder Impact

• The grant of restricted stock aligns the executive's interests with those of the shareholders, potentially driving long-term value creation.

Key Dates