Form 4: Fresh Del Monte Produce Inc. Director Michael J. Berthelot Reports Changes in Beneficial Ownership

Director Michael J. Berthelot reports acquisition of dividend equivalent units related to restricted stock units.

Summary

• Michael J. Berthelot, a director of Fresh Del Monte Produce Inc., filed a Form 4 with the SEC.
• The filing reports changes in beneficial ownership of the company's securities.
• The reported transaction involves the acquisition of 55.9788 Dividend Equivalent Units (DEUs) on March 29, 2024.
• These DEUs are related to outstanding Restricted Stock Units (RSUs) and represent a contingent right to receive one ordinary share of FDP each.
• The director directly owns 13,859 Ordinary Shares.
• The director also directly owns 191.6343 DEUs and 5,666 Restricted Stock Units.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The filing reflects routine equity compensation adjustments, indicating alignment between management and shareholders.

Positives

• The acquisition of dividend equivalent units suggests continued alignment of the director's interests with those of shareholders.

Future Outlook

The RSUs will vest on the earlier of May 4, 2024, or the date of the next annual shareholder meeting following the grant date of May 4, 2023, at which point they will convert to ordinary shares.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency regarding the transactions of company insiders. This filing indicates changes in the holdings of a director at Fresh Del Monte Produce.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the holdings of a company director.

Key Dates