Form 4: Church & Dwight CEO Acquires Phantom Stock

Church & Dwight Co. Inc. President and CEO Richard A. Dierker acquired 45.496 shares of phantom stock under a deferred compensation plan.

Summary

• Richard A. Dierker, President and CEO, and Director of Church & Dwight Co. Inc. (CHD), acquired phantom stock.
• The transaction involved 45.496 shares of phantom stock.
• The acquisition occurred on November 28, 2025, at a price of $85.16 per share.
• The phantom stock shares convert to common stock on a 1-for-1 basis.
• These shares were acquired under the Church & Dwight Co., Inc. Deferred Compensation Plan and are to be settled in cash as prescribed by the Plan.
• Following this transaction, Dierker beneficially owns 15,784.823 shares of phantom stock.
• The transaction was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged trading plan.

Sentiment

Score: 6

Explanation: Neutral to slightly positive. It's a routine compensation event, but the CEO's continued acquisition of equity-linked instruments is generally viewed as a positive sign of alignment with shareholder interests.

Positives

• The acquisition of phantom stock by the CEO indicates continued alignment of management's interests with shareholder value, as the value of phantom stock is tied to the company's common stock performance.
• The transaction was executed under a Rule 10b5-1(c) plan, suggesting a pre-arranged, non-discretionary acquisition, which can reduce concerns about opportunistic insider trading.

Future Outlook

The phantom stock shares are to be settled in cash at a future time as prescribed by the Church & Dwight Co., Inc. Deferred Compensation Plan.

Industry Context

This transaction is a routine insider filing for executive compensation, common across publicly traded companies, reflecting a component of the CEO's long-term incentive plan tied to company performance.

Comparison to Industry Standards

• The use of phantom stock as part of executive compensation is a standard practice in many industries, including consumer goods, aligning executive interests with shareholder value without immediate equity dilution.
• Companies like Procter & Gamble (PG) and Colgate-Palmolive (CL) also utilize various forms of equity-linked compensation plans for their executives, often including phantom stock or restricted stock units, to incentivize long-term performance.

Related Party Transactions

• The acquisition of phantom stock by the CEO under the company's deferred compensation plan can be considered a related party transaction, as it involves a transaction between the company and its executive.

Stakeholder Impact

• Shareholders: The transaction aligns the CEO's long-term financial interests with the company's stock performance, potentially encouraging decisions that enhance shareholder value.
• Employees: No direct impact on general employees is indicated.
• Customers/Suppliers/Creditors: No direct impact is indicated.

Next Steps

• The phantom stock shares will be settled in cash at a future date as prescribed by the Church & Dwight Co., Inc. Deferred Compensation Plan.

Key Dates

Recommendation

This Form 4 filing reports a routine executive compensation event (acquisition of phantom stock under a deferred plan) and does not contain information that would fundamentally alter the investment thesis for Church & Dwight Co. Inc. It reinforces management's alignment with shareholder interests but does not provide new operational or financial data to warrant a change in investment recommendation.

Keywords

Church & Dwight, CHD, Richard A. Dierker, Phantom Stock, Deferred Compensation, Insider Transaction, Executive Compensation, Rule 10b5-1