Form 4: Campbell's Director Acquires Phantom Stock

Campbell's Director Maria Teresa Hilado acquired 1,402.9 shares of phantom stock, increasing her beneficial ownership to 34,660.43 shares.

Summary

• Maria Teresa Hilado, a Director of Campbell's Co (CPB), acquired 1,402.9 shares of phantom stock on September 25, 2025.
• Following this transaction, Hilado beneficially owns a total of 34,660.43 shares of phantom stock.
• Phantom stock is the economic equivalent of one share of issuer common stock and is fully vested.
• The value of the phantom stock is payable in cash from the Company's Supplemental Retirement Plan upon the reporting person's retirement, resignation, or termination.
• The reported beneficial ownership includes 396.89 shares acquired through dividend reinvestment since the last report.

Sentiment

Score: 7

Explanation: The acquisition of phantom stock by a director, even as part of a compensation plan, generally indicates continued alignment of interests with shareholders and confidence in the company. The dividend reinvestment further supports this positive sentiment.

Positives

• A Director's acquisition of additional phantom stock can signal continued confidence in the company's future performance.
• The inclusion of shares acquired through dividend reinvestment indicates a consistent accumulation of equity-linked compensation.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance.

Industry Context

This filing reports a routine insider transaction related to director compensation, which is a standard disclosure practice across all publicly traded companies. It does not provide information on broader industry trends or competitive landscape.

Comparison to Industry Standards

• Not applicable as this filing reports an individual insider transaction, not company-wide financial or operational results that can be directly compared to industry benchmarks or specific competitor projects.

Related Party Transactions

• The transaction involves the acquisition of phantom stock by a Director, Maria Teresa Hilado, from Campbell's Co, which is a standard related-party transaction for executive and director compensation.

Stakeholder Impact

• Shareholders: The increase in a director's equity-linked holdings, even phantom stock, can be viewed positively as it aligns management's interests with shareholder value creation.

Key Dates

Keywords

Campbell's, CPB, Maria Teresa Hilado, Phantom Stock, Insider Transaction, SEC Form 4, Director Compensation, Equity Acquisition