Form 4: Church & Dwight Executive Acquires Phantom Stock Under Deferred Compensation Plan

Barry A. Bruno, EVP and Chief Marketing Officer of Church & Dwight, acquired phantom stock shares under the company's Deferred Compensation Plan.

Summary

• Barry A. Bruno, an executive at Church & Dwight Co. Inc., acquired 5.223 shares of phantom stock on June 28, 2024.
• The acquisition was made under the Church & Dwight Co., Inc. Deferred Compensation Plan.
• The phantom stock converts to common stock on a 1-for-1 basis and will be settled in cash as prescribed by the Plan.
• Following the transaction, Mr. Bruno directly owns 463.039 derivative securities.

Sentiment

Score: 7

Explanation: The document reflects a routine executive compensation transaction, which is generally viewed neutrally. The acquisition of phantom stock can be seen as a positive sign of alignment between the executive and the company's success.

Positives

• The acquisition of phantom stock aligns the executive's interests with the company's performance.
• The Deferred Compensation Plan provides a tax-advantaged way for executives to save for retirement.

Industry Context

Executive compensation packages often include stock options, restricted stock, or phantom stock to incentivize performance and align executive interests with shareholder value. Deferred compensation plans are a common tool for executives to defer income and reduce current tax liabilities.

Comparison to Industry Standards

• Companies like Procter & Gamble (PG) and Unilever (UL) also utilize deferred compensation plans and stock-based compensation for their executives.
• The specific terms of Church & Dwight's plan, such as the vesting schedule and settlement terms, would need to be compared to those of its peers to determine its relative competitiveness.

Stakeholder Impact

• The acquisition of phantom stock has a minimal direct impact on shareholders, employees, customers, suppliers, and creditors.
• It primarily affects the executive's compensation and alignment with the company's long-term performance.

Key Dates