Form 4: Deere CEO John May Reports Significant Equity Grants
Insider Transaction Report
Deere & Company's Chairman and CEO, John C. May II, reported the grant of restricted stock units and market-priced options, alongside a tax-related share withholding.
Summary
- John C. May II, Chairman & CEO of Deere & Company, reported transactions under the company's equity incentive plan.
- On December 10, 2025, May was granted 9,796 restricted stock units (RSUs) under the John Deere 2020 Equity Incentive Plan, with a transaction price of $0.
- On December 11, 2025, 1,355 shares of $1 Par Common Stock were withheld at a price of $475.94 per share to satisfy tax withholding obligations upon the settlement of restricted stock units.
- On December 10, 2025, May was granted 36,473 market-priced options with an exercise price of $468.90 and an expiration date of December 10, 2035.
- These options will become exercisable in three approximately equal installments on December 10, 2026, December 10, 2027, and December 10, 2028.
- Following these transactions, May directly beneficially owns 120,894 shares of $1 Par Common Stock and indirectly owns 27,891 shares via SLAT.
- May also directly beneficially owns 36,473 market-priced options.
Sentiment
Score: 7
Explanation: The filing reports routine equity compensation grants to the CEO, which are generally positive as they align management's interests with long-term shareholder value. The transactions are part of an established incentive plan and do not indicate any unusual or negative events.
Positives
- The grant of 9,796 restricted stock units (RSUs) to the CEO aligns executive interests with long-term shareholder value.
- The grant of 36,473 market-priced options provides a significant long-term incentive for the CEO's performance and company growth.
Future Outlook
The equity grants, including restricted stock units and market-priced options, are designed to incentivize long-term performance and align the CEO's interests with future shareholder value creation. The options vest over three years, indicating a multi-year performance horizon for executive compensation.
Industry Context
NA
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Compensation Plan Reference | Equity grants to the CEO were made under the existing John Deere 2020 Equity Incentive Plan. | NA | Reinforces the company's established executive compensation framework, aligning management incentives with long-term shareholder value. |
Stakeholder Impact
- Shareholders: The equity grants are intended to align the CEO's financial interests with the long-term performance and value creation for shareholders.
Next Steps
- The granted market-priced options will become exercisable in three approximately equal installments on December 10, 2026, December 10, 2027, and December 10, 2028.
Key Dates
| Date | Description |
|---|---|
| 12/10/2025 | Grant of 9,796 restricted stock units and 36,473 market-priced options to John C. May II. |
| 12/11/2025 | Withholding of 1,355 shares for tax obligations upon RSU settlement. |
| 12/10/2026 | First installment of market-priced options becomes exercisable. |
| 12/10/2027 | Second installment of market-priced options becomes exercisable. |
| 12/10/2028 | Third installment of market-priced options becomes exercisable. |
| 12/10/2035 | Expiration date of market-priced options. |
Recommendation
holdThis Form 4 filing details routine equity compensation grants to the CEO, which are standard practice for executive incentives. It does not contain information that would fundamentally alter the investment thesis for Deere & Company, thus a 'hold' recommendation is appropriate based solely on this filing.
Keywords
Deere, DE, Form 4, Insider Transaction, Equity Grant, Stock Options, Restricted Stock Units, CEO Compensation
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