Form 4: H.B. Fuller Executive Reports Equity Holdings

Sentiment:

Insider Ownership Disclosure 22 December 2025 11:33 AM

H.B. Fuller's Sr. VP, International Growth, Heather Campe, filed a Form 4 detailing her beneficial ownership of common stock, phantom units, stock options, and restricted stock units.

Summary

Heather Campe, Sr. VP, International Growth at H.B. Fuller Co. (FUL), reported her beneficial ownership of company securities.
As of the filing, Campe directly owns 22,334.0782 shares of Common Stock, which includes shares acquired through a dividend reinvestment plan.
On December 19, 2025, Campe acquired 36.2 Phantom Units, which convert into common stock on a 1-for-1 basis. These units were valued at $59.89 per unit at the time of acquisition.
Following this transaction, Campe beneficially owns 5,226.08 Phantom Units, including those acquired via a dividend equivalent feature.
Campe also holds various Employee Stock Options (Right-to-Buy) with exercise prices ranging from $51.89 to $77.72 and expiration dates between January 2028 and January 2035. Some options are fully vested, while others vest in three annual installments.
Additionally, Campe holds Restricted Stock Units (RSUs) that convert into common stock on a 1-for-1 basis, with vesting schedules in three annual installments and expiration dates between January 2026 and January 2028. These RSU amounts include units from a dividend equivalent reinvestment feature.

Sentiment

Score: 5

Explanation: Routine disclosure of executive equity holdings and compensation, no significant positive or negative operational news.

Positives

The acquisition of 36.2 Phantom Units on December 19, 2025, indicates ongoing executive compensation and alignment of interests with shareholders.
Significant holdings of common stock, phantom units, stock options, and restricted stock units by a Senior VP demonstrate a vested interest in the company's long-term performance.
The inclusion of dividend reinvestment and dividend equivalent features for common stock, phantom units, and restricted stock units suggests a robust equity compensation program.

Future Outlook

This Form 4 is a disclosure of executive equity holdings and compensation, and does not contain forward-looking statements or guidance regarding the company's future performance.

Industry Context

This Form 4 is a routine disclosure of an executive's beneficial ownership and compensation, which does not provide broader industry trends or competitive insights.

Related Party Transactions

The equity awards and holdings disclosed represent executive compensation, which is a form of related party transaction. However, the filing does not detail specific transactions with related parties beyond the compensation structure.

Stakeholder Impact

Shareholders: The executive's significant equity holdings, including common stock, phantom units, stock options, and restricted stock units, align her financial interests with those of the shareholders, potentially encouraging long-term value creation.
Employees: The structure of equity compensation, including vesting schedules and dividend equivalent features, provides insight into the company's executive incentive programs.
Customers, Suppliers, Creditors: This filing has no direct impact on these stakeholders.

Key Dates

Date	Description
01/25/2019	Vesting date for Employee Stock Option (Right-to-Buy) with exercise price $53.57, 100% vested.
01/27/2022	Vesting date for Employee Stock Option (Right-to-Buy) with exercise price $51.89, 100% vested.
01/24/2023	Vesting date for Employee Stock Option (Right-to-Buy) with exercise price $72.94, 100% vested.
01/24/2024	First vesting installment date for Employee Stock Option (Right-to-Buy) with exercise price $68.17 and for Restricted Stock Units.
01/26/2025	First vesting installment date for Employee Stock Option (Right-to-Buy) with exercise price $77.72 and for Restricted Stock Units.
12/19/2025	Date of acquisition of 36.2 Phantom Units.
12/22/2025	Signature date of the reporting person's attorney-in-fact for the filing.
01/24/2026	Expiration date for Restricted Stock Units vesting from 01/24/2024.
01/27/2026	First vesting installment date for Employee Stock Option (Right-to-Buy) with exercise price $64.28 and for Restricted Stock Units.
01/26/2027	Expiration date for Restricted Stock Units vesting from 01/26/2025.
01/25/2028	Expiration date for Employee Stock Option (Right-to-Buy) with exercise price $53.57.
01/27/2028	Expiration date for Restricted Stock Units vesting from 01/27/2026.
01/27/2031	Expiration date for Employee Stock Option (Right-to-Buy) with exercise price $51.89.
01/24/2032	Expiration date for Employee Stock Option (Right-to-Buy) with exercise price $72.94.
01/24/2033	Expiration date for Employee Stock Option (Right-to-Buy) with exercise price $68.17.
01/26/2034	Expiration date for Employee Stock Option (Right-to-Buy) with exercise price $77.72.
01/27/2035	Expiration date for Employee Stock Option (Right-to-Buy) with exercise price $64.28.

Recommendation

hold

This Form 4 is a routine disclosure of an executive's beneficial ownership and recent acquisition of phantom units, which is part of compensation. It does not contain information that would typically alter an investment recommendation for H.B. Fuller Co. The holdings demonstrate alignment of executive interests with shareholders.

Keywords

H.B. Fuller, FUL, SEC Form 4, Insider Trading, Beneficial Ownership, Stock Options, Restricted Stock Units, Phantom Units, Executive Compensation

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