Form 4: Fresh Del Monte Produce Inc. Chairman and CEO Abu-Ghazaleh Gifts 2 Million Shares

Mohammad Abu-Ghazaleh, Chairman and CEO of Fresh Del Monte Produce Inc., gifted 2,000,000 ordinary shares of the company.

Summary

• On April 28, 2023, Mohammad Abu-Ghazaleh, Chairman and CEO of Fresh Del Monte Produce Inc., gifted 2,000,000 ordinary shares.
• The shares were gifted at a price of $0.
• Following the transaction, Abu-Ghazaleh directly owns 5,028,997 ordinary shares and indirectly owns 20,000 shares held by his spouse.
• He also holds derivative securities including Dividend Equivalent Units (DEUs), Restricted Stock Units (RSUs), and Performance Stock Units (PSUs) which convert to ordinary shares.
• The RSUs were awarded on March 2, 2023, and vest in three equal installments over three years.
• The PSUs were awarded on July 6, 2022, and March 1, 2024, and are earned subject to meeting minimum performance criteria, vesting in three equal installments.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing a transaction. It doesn't inherently convey positive or negative sentiment.

Industry Context

This filing is a routine disclosure of a transaction by a company insider. It doesn't provide specific insights into the company's performance or strategy but offers a glimpse into the ownership structure.

Stakeholder Impact

• The gift of shares by the CEO could be perceived positively by shareholders as a philanthropic gesture, but the impact is likely minimal.

Key Dates