Form 4: Fresh Del Monte Produce Inc. Chairman and CEO Reports Changes in Beneficial Ownership
SEC Form 4
Mohammad Abu-Ghazaleh, Chairman and CEO of Fresh Del Monte Produce Inc., reports changes in beneficial ownership, including acquisitions of dividend equivalent units and holdings of ordinary shares, stock options, and restricted/performance stock units.
Summary
- Mohammad Abu-Ghazaleh, Chairman and CEO of Fresh Del Monte Produce Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
- The report includes the acquisition of 2,070.0162 Dividend Equivalent Units (DEUs) on March 29, 2024.
- Abu-Ghazaleh directly owns 7,028,997 Ordinary Shares.
- He also indirectly owns 20,000 Ordinary Shares held by his spouse.
- The report details holdings of Employee Stock Options (64,400), Restricted Stock Units (15,155), and Performance Stock Units (33,634.713 and 164,136) which convert to Ordinary Shares.
- The vesting schedules for the RSUs and PSUs extend to March 2027.
Sentiment
Score: 5
Explanation: This is a routine filing, so the sentiment is neutral. It simply reflects changes in ownership.
Positives
- The reporting person's continued holding of a significant number of shares and stock options demonstrates a vested interest in the company's success.
Industry Context
Form 4 filings are a standard part of regulatory compliance for company insiders and provide transparency into their transactions in the company's stock.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the holdings of the company's CEO.
Key Dates
| Date | Description |
|---|---|
| 03/02/2023 | RSUs were awarded and vest in three equal installments over three years. |
| 07/06/2022 | PSUs were awarded and subject to meeting minimum performance criteria which was met at 97.3%. The PSUs vest in three equal annual installments. |
| 03/01/2024 | PSUs were awarded and are earned subject to meeting minimum performance criteria. Once earned, the PSUs vest in three equal annual installments on each of 3/1/2025, 3/1/2026 and 3/1/2027. |
| 03/29/2024 | Acquisition of 2,070.0162 Dividend Equivalent Units (DEUs). |
| 04/02/2024 | Date of the report filing. |
| 03/02/2025 | Remaining vesting date for RSUs awarded on 3/2/2023. |
| 03/02/2026 | Remaining vesting date for RSUs awarded on 3/2/2023. |
| 03/01/2025 | Vesting date for PSUs awarded on 3/1/2024. |
| 03/01/2026 | Vesting date for PSUs awarded on 3/1/2024. |
| 03/01/2027 | Vesting date for PSUs awarded on 3/1/2024. |
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