Form 4: Church & Dwight Executive Acquires Phantom Stock

Church & Dwight EVP Carlos G. Linares acquired 28.093 phantom stock shares under a deferred compensation plan.

Summary

• Carlos G. Linares, Executive Vice President, Chief Technology & Global New Product Development at Church & Dwight Co., Inc. (CHD), acquired 28.093 shares of phantom stock.
• The transaction occurred on September 15, 2025.
• The phantom stock shares were acquired under the Church & Dwight Co., Inc. Deferred Compensation Plan.
• These phantom stock shares convert to common stock on a 1-for-1 basis.
• The shares are to be settled in cash at such time as prescribed by the Plan.
• The implied price of the phantom stock at the time of acquisition was $91.25 per share.
• Following this transaction, Mr. Linares beneficially owns 17,222.559 derivative securities (phantom stock) directly.

Sentiment

Score: 6

Explanation: Slightly positive, as it indicates continued executive participation in compensation plans tied to company performance, suggesting alignment of interests. However, the small size and cash settlement limit the direct positive impact.

Positives

• The acquisition of phantom stock by an executive indicates continued alignment of management interests with shareholder value, as the value of these shares is tied to the company's common stock performance.
• Participation in a deferred compensation plan can be a positive sign of executive commitment and long-term perspective.

Negatives

• The phantom stock is settled in cash, not common stock, meaning the executive does not directly increase their equity ownership in the company's common shares through this specific transaction.
• The transaction size of 28.093 shares is relatively small, limiting its overall impact on the executive's total beneficial ownership.

Future Outlook

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

Industry Context

This is a routine insider compensation transaction and does not provide specific insights into broader industry trends or competitive positioning. It reflects standard executive compensation practices within the consumer goods sector.

Comparison to Industry Standards

• Deferred compensation plans, including phantom stock, are common executive compensation tools across various industries, including consumer staples, to align executive incentives with long-term company performance.
• The specific terms, such as cash settlement, vary by company and plan design but are generally within accepted industry practices for non-qualified deferred compensation.

Stakeholder Impact

• Shareholders: The transaction demonstrates continued executive alignment with company performance, which can be viewed positively, though the direct impact on share price is negligible due to the small transaction size and nature of phantom stock.
• Employees: No direct impact on general employees is indicated by this filing.
• Management: The executive's deferred compensation holdings increase, reinforcing their financial interest in the company's long-term success.

Key Dates

Recommendation

This Form 4 filing details a routine, small-scale acquisition of phantom stock by an executive as part of a deferred compensation plan. Such a transaction, while indicating management alignment, is not significant enough in size or nature to warrant a change in investment recommendation for Church & Dwight Co., Inc. Investors should consider broader financial performance, market conditions, and strategic initiatives rather than this minor insider transaction.

Keywords

Church & Dwight, CHD, Carlos G. Linares, Phantom Stock, Deferred Compensation, Insider Transaction, Executive Compensation, SEC Form 4