Form 4: General Mills Director Acquires Phantom Stock Units Through Deferred Compensation Plan

Kim Goodwin, a director at General Mills, acquired 391 phantom stock units through the company's deferred compensation plan for non-employee directors.

Summary

• Kim Goodwin, a director at General Mills, acquired 391 phantom stock units on November 24, 2024.
• These units were obtained through the Deferred Compensation Plan for Non-Employee Directors.
• Each unit represents the right to receive the cash value of one share of General Mills common stock.
• The units were acquired as a result of deferring a cash retainer.
• The units are payable in cash at the end of the deferral period.
• Goodwin has the option to transfer the units into an alternative investment at any time.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to slightly positive as it aligns director interests with shareholders.

Positives

• The acquisition of phantom stock units aligns the director's interests with those of the shareholders.
• The deferred compensation plan allows for tax-advantaged savings for the director.

Future Outlook

The phantom stock units will be paid out in cash at the end of the deferral period, or can be transferred to an alternative investment at any time.

Industry Context

This type of transaction is common for non-employee directors as part of their compensation package, aligning their interests with the long-term performance of the company.

Comparison to Industry Standards

• Deferred compensation plans are a standard practice for compensating non-employee directors across various industries.
• Many companies use phantom stock or similar instruments to align director compensation with shareholder value.
• The specific terms of the plan, such as the deferral period and payout method, are typical for these types of arrangements.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns director interests with the company's performance.

Key Dates

Keywords

General Mills, Director, Phantom Stock, Deferred Compensation, Stock Units, GIS, Kim Goodwin