Form 4: Deere CEO John May Reports Routine Stock Transaction

Deere & Company's Chairman and CEO, John C. May II, reported a routine disposition of 2,924 shares of common stock for tax withholding purposes.

Summary

• John C. May II, Chairman and CEO of Deere & Company, reported a transaction involving the company's common stock.
• On December 15, 2025, May disposed of 2,924 shares of $1 Par Common Stock.
• This disposition was an exempt withholding of shares to satisfy tax withholding obligations upon the settlement of restricted stock units for unrestricted shares.
• The transaction occurred at a price of $484.8 per share.
• Following this transaction, May directly beneficially owns 117,970 shares.
• Additionally, May indirectly beneficially owns 27,891 shares through a SLAT (Spousal Lifetime Access Trust).
• The reported shares include 19,950 restricted stock units granted under the John Deere 2020 Equity and Incentive Plan, which are to be settled solely in shares and include the ability to withhold shares for income tax obligations.

Sentiment

Score: 5

Explanation: The filing reports a routine, non-discretionary transaction for tax withholding purposes, which is neutral in sentiment. It reflects standard corporate compensation practices rather than a strategic move or performance indicator.

Positives

• The transaction is a routine and expected event related to the settlement of restricted stock units, indicating normal compensation processes.

Negatives

• No specific negative aspects are indicated by this routine tax withholding transaction.

Future Outlook

The filing does not contain any forward-looking statements or guidance beyond the details of the reported transaction.

Industry Context

This is a routine insider transaction filing (Form 4) and does not provide specific insights into broader industry trends or competitive landscape. It reflects standard executive compensation practices within a publicly traded company like Deere & Company.

Comparison to Industry Standards

• The practice of withholding shares to cover tax obligations upon the vesting or settlement of restricted stock units is a standard and common practice across publicly traded companies, including those in the industrial and agricultural machinery sectors like Caterpillar Inc. (CAT) or CNH Industrial N.V. (CNHI).
• The reported transaction price of $484.8 per share reflects the market value at the time of the transaction, consistent with how such tax-related dispositions are typically executed.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine, non-discretionary transaction for tax purposes, not indicative of a change in management's confidence or company fundamentals.
• Employees: No direct impact beyond the executive involved in the transaction.

Key Dates

Keywords

Deere & Company, DE, John C. May II, Form 4, Insider Transaction, Stock Disposition, Tax Withholding, Restricted Stock Units, Equity Plan, CEO