Form 4: Hormel Foods Director Steven Andrew White Reports Acquisition of Phantom Stock

Director Steven Andrew White reports acquiring phantom stock in Hormel Foods Corp, along with adjustments due to dividend equivalents.

Summary

• On March 31, 2024, Steven Andrew White, a director of Hormel Foods Corp, acquired 1,730.44 shares of phantom stock at a price of $34.89 per share.
• This acquisition increased White's direct holdings to 36,648.97 shares of common stock.
• White also has indirect ownership of 34,839 shares through a spouse's irrevocable trust.
• The phantom stock becomes payable in common stock either in a lump sum or in up to ten annual installments following termination of service as a director, or immediately upon separation from service within six months following a change of control.
• The reported transaction includes additional phantom stock units received upon conversion of dividend equivalents from September 30, 2023, to the present.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, indicating a neutral sentiment. It simply reports a transaction without expressing any positive or negative outlook.

Future Outlook

The phantom stock will be converted to common stock upon termination of service as a director or a change of control, according to the reporting person's election.

Industry Context

This filing is a routine disclosure of stock ownership changes by a company insider, which is common in publicly traded companies. It provides transparency to investors regarding the holdings of key personnel.

Key Dates