Form 4: Clorox Director Spencer C. Fleischer Reports Changes in Beneficial Ownership

Director Spencer C. Fleischer reports acquisition of Clorox deferred stock units through dividend reinvestment and in lieu of quarterly director's fees.

Summary

• On June 28, 2024, Spencer C. Fleischer, a director of Clorox, reported changes in beneficial ownership.
• Fleischer acquired 228.9881 deferred stock units in lieu of quarterly director's fees.
• He also acquired 130.9342 deferred stock units through dividend reinvestment during the fiscal year.
• Following these transactions, Fleischer beneficially owns 16,001.1001 deferred stock units.
• These deferred stock units will be settled 100% in Clorox stock upon Fleischer's retirement or termination of service as a director.

Sentiment

Score: 7

Explanation: The document reflects standard director compensation practices and stock ownership adjustments, indicating stability and alignment of interests. It is a neutral to slightly positive indicator.

Positives

• The acquisition of deferred stock units aligns the director's interests with those of the shareholders, as the units will be settled in Clorox stock upon retirement or termination of service.

Future Outlook

The deferred stock units will be settled 100% in Clorox stock upon the reporting person's retirement or other termination of service as a Director.

Industry Context

This filing is a routine disclosure related to director compensation and stock ownership, common among publicly traded companies.

Comparison to Industry Standards

• Director compensation packages often include deferred stock units to align director interests with long-term shareholder value, a practice common among companies like Procter & Gamble (PG) and Unilever (UL).
• The vesting and settlement terms are typical, with settlement occurring upon retirement or termination of service, similar to arrangements at Colgate-Palmolive (CL).

Stakeholder Impact

• The acquisition of deferred stock units aligns the director's interests with those of the shareholders, as the units will be settled in Clorox stock upon retirement or termination of service.

Key Dates