4/A: Fresh Del Monte Produce Inc. Executive Corrects Share Vesting Amounts in Amended SEC Filing
SEC Filing (Form 4/A)
Mohammed Abbas, EVP and Chief Operating Officer of Fresh Del Monte Produce Inc., files an amended Form 4 to correct the amount of vested shares due to an administrative error.
Summary
- Mohammed Abbas, an executive at Fresh Del Monte Produce Inc., filed an amended Form 4 with the SEC to correct previously reported information regarding vested shares.
- The amendment addresses an administrative error in the original filing on March 4, 2025, specifically concerning the amount of vested shares.
- The corrected filing reflects transactions involving ordinary shares, dividend equivalent units (DEUs), restricted stock units (RSUs), and performance stock units (PSUs).
- The transactions occurred on March 1 and March 2, 2025, and involve the acquisition of shares through vesting of RSUs and PSUs.
- Following the reported transactions, Abbas directly owns 50,624 ordinary shares.
- He also holds derivative securities including 4,084.2929 DEUs, 3,584 RSUs, and various PSUs awarded between 2016 and 2024 with different vesting schedules and performance criteria.
Sentiment
Score: 7
Explanation: The document is a routine regulatory filing correcting a previous error. It doesn't contain information that would significantly impact investor sentiment positively or negatively. The correction of the error is a positive sign of diligence.
Industry Context
This filing is a routine disclosure related to executive compensation and equity ownership, common among publicly traded companies. It provides transparency to investors regarding the holdings and transactions of company insiders.
Stakeholder Impact
- The correction of the vested share amount ensures accurate information for shareholders.
Key Dates
| Date | Description |
|---|---|
| 2/24/2016 | PSUs were awarded subject to meeting minimum performance criteria, which was met at 100%. |
| 2/22/2017 | The PSUs were awarded on 2/22/2017 subject to meeting minimum performance criteria, which was met at 88.8%. |
| 2/20/2019 | The PSUs were awarded on 2/20/2019 subject to meeting minimum performance criteria, which was met at 100%. |
| 3/2/2020 | The PSUs were awarded on 3/2/2020 subject to meeting minimum performance criteria, which was met at 83%. |
| 3/1/2021 | The PSUs were awarded on 3/1/2021 subject to meeting minimum performance criteria, which was met at 91%. |
| 6/15/2022 | The RSUs were awarded on 6/15/2022 and vest in three equal installments over three years. The PSUs were awarded on 6/15/2022 subject to meeting minimum performance criteria which was met at 97.3%. |
| 3/2/2023 | The RSUs were awarded on 3/2/2023 and vest in three equal annual installments over three years. |
| 3/1/2024 | The PSUs were awarded on 3/1/2024 subject to meeting minimum performance criteria which was met at 100%. |
| 3/1/2025 | Date of earliest transaction reported in the filing; vesting of shares and DEUs. |
| 3/2/2025 | Additional vesting of shares, RSUs, and PSUs. |
| 3/4/2025 | Date of original Form 4 filing containing the administrative error. |
| 3/5/2025 | Date of the amended Form 4 filing. |
| 3/2/2026 | Remaining vesting date for RSUs awarded on 3/2/2023. |
| 3/1/2027 | PSUs vest in three equal installments on each of 3/1/2025, 3/1/2026 and 3/1/2027. |
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