Form 4: Campbell's Director Kurt Schmidt Boosts Phantom Stock Holdings

Sentiment:

Insider Transaction Report 30 June 2025 4:26 PM

Campbell's Co. Director Kurt Schmidt reported the acquisition of 2,309.43 phantom stock units, increasing his total beneficial ownership to 44,633.8 units, as part of a routine compensation and dividend reinvestment.

Summary

Kurt Schmidt, a Director of Campbell's Co. (CPB), acquired 2,309.43 phantom stock units on June 26, 2025.
Each phantom stock unit is the economic equivalent of one share of Campbell's common stock.
Following this transaction, Kurt Schmidt beneficially owns a total of 44,633.8 phantom stock units.
The phantom shares are fully vested and their value is payable in cash from the Company's Supplemental Retirement Plan upon the reporting person's retirement, resignation, or termination.
The reported total includes 455.60 shares acquired through dividend reinvestment since the last report.

Sentiment

Score: 6

Explanation: The acquisition of phantom stock by a director, especially with dividend reinvestment, is a positive signal of continued alignment and long-term interest, though it's a routine compensation event rather than a significant strategic move.

Positives

Increased beneficial ownership by a director, indicating continued alignment with shareholder interests.
Phantom shares are fully vested, providing immediate economic interest.
Inclusion of dividend reinvestment suggests a long-term holding strategy by the director.

Future Outlook

No forward-looking statements or guidance regarding the company's future performance or strategic direction are provided in this filing, as it primarily reports an insider transaction.

Management Comments

Each share of Phantom Stock is the economic equivalent of one share of issuer common stock.
Phantom shares are fully vested.
The value of Phantom Stock is payable in cash from the Company's Supplemental Retirement Plan upon reporting person's retirement, resignation or termination.
Includes 455.60 shares acquired through dividend reinvestment since the reporting person's last report.

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction and does not provide information relevant to broader industry trends or competitive analysis within the food and beverage sector.

Corporate Governance

Change Type	Description	Effective Date	Impact Assessment
Administrative Delegation	Kurt T. Schmidt granted a Power of Attorney to specific individuals (Charles A. Brawley, III, Marci K. Donnelly, Andrew D. Kupchik, and Kishan Mistry) to prepare, execute, and file SEC Forms 3, 4, 5, and 144 on his behalf.	02/27/2025	This is a standard administrative procedure to facilitate timely and compliant SEC filings for the reporting person, ensuring adherence to Section 16 and Rule 144 requirements. It does not represent a change in corporate governance structure or policies, but rather a procedural efficiency.

Stakeholder Impact

Shareholders: The acquisition of phantom stock by a director aligns management's interests with shareholders, as the value is tied to the company's common stock performance.
Employees: No direct impact on general employees is indicated.
Customers/Suppliers/Creditors: No direct impact on these stakeholders is indicated by this filing.

Key Dates

Date	Description
02/27/2025	Date Power of Attorney was executed by Kurt T. Schmidt.
06/26/2025	Date of the phantom stock acquisition transaction.
06/30/2025	Date the Form 4 was signed by Marci K. Donnelly, Attorney-in-Fact.

Recommendation

hold

Keywords

Campbell's Co, CPB, SEC Form 4, Insider Transaction, Phantom Stock, Director Compensation, Stock Ownership, Kurt Schmidt, Dividend Reinvestment

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