Form 4: General Mills Director Stephen Odland Reports Acquisition of Phantom Stock Units

Director Stephen Odland reports acquiring 381 units of General Mills phantom stock through a deferred compensation plan.

Summary

• On February 25, 2024, Stephen Odland, a director of General Mills Inc. [GIS], acquired 381 units of phantom stock.
• This acquisition was made through the Deferred Compensation Plan for Non-Employee Directors.
• Each phantom stock unit represents the right to receive the cash value of one share of General Mills common stock.
• The price of the phantom stock was $65.61.
• Following the transaction, Odland beneficially owns 44,907.206 derivative securities.
• The phantom stock units are payable in cash at the end of the deferral period, and the reporting person may transfer their common stock unit investment into an alternative investment at any time.

Sentiment

Score: 7

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

Future Outlook

The phantom stock units are payable in cash at the end of the deferral period.

Industry Context

Directors often receive stock or stock-based compensation as part of their overall remuneration package, aligning their interests with those of shareholders. Deferred compensation plans are a common way to provide this.

Stakeholder Impact

• The transaction aligns the director's interests with those of the shareholders, as the value of the phantom stock is tied to the performance of General Mills' common stock.

Key Dates