FDP.NYSEFresh Del Monte Produce INC

Form 4: Fresh Del Monte Produce Inc. Executive Reports Changes in Beneficial Ownership

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SEC Form 4 Filing

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Mohammed Abbas, Chief Operating Officer of Fresh Del Monte Produce Inc., reports changes in beneficial ownership of ordinary shares and derivative securities, including dividend equivalent units, restricted stock units, and performance stock units.

Summary

  • On June 11, 2024, Mohammed Abbas, the Chief Operating Officer of Fresh Del Monte Produce Inc., filed a Form 4 with the SEC.
  • The filing reports changes in Mr. Abbas's beneficial ownership of the company's securities.
  • Mr. Abbas acquired 690.5078 dividend equivalent units (DEUs) on June 7, 2024, as a result of dividend equivalents accrued with respect to outstanding RSUs and/or PSUs.
  • The filing also details Mr. Abbas's holdings of restricted stock units (RSUs) and performance stock units (PSUs) that convert to ordinary shares on a one-for-one basis.
  • The RSUs and PSUs have various vesting schedules and performance criteria, with some vesting occurring in the future.
  • As of the report, Mr. Abbas directly owns 29,945 ordinary shares.
  • He also holds various derivative securities, including 3,437.2355 dividend equivalent units, 2,838 restricted stock units, 7,156 restricted stock units, 4,000 performance stock units, 3,552 performance stock units, 3,000 performance stock units, 1,948 performance stock units, 3,791 performance stock units, 3,268.538 performance stock units and 29,729 performance stock units.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing, so the sentiment is neutral.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company.

Stakeholder Impact

  • Shareholders can use this information to understand the alignment of management's interests with their own.
  • The filing provides transparency into the compensation structure for the COO.

Key Dates

DateDescription
2/24/2016PSUs were awarded subject to meeting minimum performance criteria which was met at 100%.
2/22/2017The PSUs were awarded subject to meeting minimum performance criteria which was met at 88.8%.
2/20/2019The PSUs were awarded subject to meeting minimum performance criteria, which was met at 100%.
3/2/2020The PSUs were awarded and subject to meeting minimum performance criteria which was met at 83%.
3/1/2021The PSUs were awarded and subject to meeting minimum performance criteria which was met at 91%.
6/15/2022The RSUs were awarded and vest in three equal installments over three years. The PSUs were awarded and are earned subject to meeting minimum performance criteria which was met at 97.3%. The PSUs vest in three equal annual installments.
3/2/2023The RSUs were awarded and vest in three equal annual installments over three years.
3/1/2024The PSUs were awarded and are earned subject to meeting minimum performance criteria. Once earned, the PSUs vest in three equal installments on each of 3/1/2025, 3/1/2026 and 3/1/2027.
6/07/2024Date of transaction for dividend equivalent units.
06/11/2024Date of filing.

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