Form 4: Fresh Del Monte Produce Inc. Executive Monica Vicente Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Monica Vicente, SVP and CFO of Fresh Del Monte Produce Inc., reports transactions involving ordinary shares, dividend equivalent units, restricted stock units, and performance stock units.
Summary
- On March 1st and 2nd, 2024, Monica Vicente, the SVP and Chief Financial Officer of Fresh Del Monte Produce Inc., reported changes in her beneficial ownership of the company's securities.
- These changes involve the acquisition and disposal of ordinary shares, dividend equivalent units (DEUs), restricted stock units (RSUs), and performance stock units (PSUs).
- The transactions include the vesting of RSUs and PSUs, as well as the forfeiture of PSUs due to not meeting minimum performance criteria.
- As a result of these transactions, Ms. Vicente's directly held ordinary shares increased to 6,349.
- She also holds derivative securities including 20,247 Performance Stock Units.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing, reporting transactions without expressing any positive or negative sentiment.
Negatives
- 3,826 Performance Stock Units were forfeited because the minimum performance criteria required for vesting were not met.
Industry Context
This filing is a routine disclosure related to insider transactions, which are common for executives of publicly traded companies. It provides transparency into the executive's holdings and transactions in the company's stock.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the transactions of a key executive.
Key Dates
| Date | Description |
|---|---|
| 03/01/2021 | RSUs were awarded and vest in three equal installments over three years, with the remaining vesting occurring on 3/1/2024. |
| 03/02/2020 | RSUs were awarded and vest in five equal installments over four years, with the remaining vesting occurring on 3/1/24. |
| 03/01/2024 | Date of earliest transaction reported. |
| 03/01/2024 | PSUs were awarded and are earned subject to meeting minimum performance criteria, vesting in three equal installments on each of 3/1/2025, 3/1/2026 and 3/1/2027. |
| 06/15/2022 | RSUs were awarded and vest in three equal installments over three years, with remaining vestings on 3/2/2025. |
| 06/15/2022 | PSUs were awarded and are earned subject to meeting minimum performance criteria, vesting in three equal annual installments on each of 6/15/2023, 6/15/2024 and 6/15/2025. |
| 03/02/2023 | RSUs were awarded and vest in three equal installments over three years, with remaining vestings on 3/2/2025 and 3/2/2026. |
| 03/05/2024 | Date of signature on the report. |
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