Form 4: J. M. Smucker Chief People Officer Reports Significant Equity Transactions

Jill R. Penrose, Chief People Officer of J. M. Smucker Co., reported the acquisition of 8,216 common shares through equity grants and performance unit settlements, alongside the disposition of 1,827 shares for tax liabilities.

Summary

• Jill R. Penrose, Chief People Officer of J. M. Smucker Co. (SJM), reported several equity transactions.
• On June 13, 2025, Ms. Penrose acquired 4,471 common shares as restricted stock for fiscal year 2026, which will vest in three equal annual installments starting June 13, 2026.
• On June 16, 2025, she acquired 3,745 common shares from the settlement of a performance unit award that was granted on July 8, 2022.
• Also on June 16, 2025, a total of 1,827 common shares were disposed of at a price of $95.36 per share to satisfy tax liabilities related to the vesting of performance units (1,125 shares) and restricted stock (152, 148, and 402 shares).
• Following these transactions, Ms. Penrose directly beneficially owns 15,183 common shares and indirectly owns 2,622 common shares through the company's 401(k) plan and dividend reinvestment plan, totaling 17,805 shares.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as the executive acquired a significant number of shares through compensation plans, indicating continued alignment with company performance and a net increase in beneficial ownership, despite some shares being sold for tax purposes. These are routine compensation events.

Positives

• Acquisition of 4,471 restricted common shares as part of the fiscal year 2026 equity plan, indicating ongoing compensation and alignment with company performance.
• Settlement of a performance unit award resulting in the acquisition of 3,745 common shares, reflecting achievement of prior performance targets.
• Increased overall beneficial ownership of J. M. Smucker Co. common shares.

Negatives

• Disposition of 1,827 common shares at $95.36 per share to cover tax liabilities, which reduces the direct share count.

Future Outlook

The restricted stock granted on June 13, 2025, is scheduled to vest in three equal annual installments beginning on June 13, 2026, indicating future equity compensation events.

Industry Context

This Form 4 filing details routine equity compensation transactions for a senior executive at a consumer packaged goods company. Such grants and settlements are common practices across various industries to align executive incentives with shareholder interests and retain talent.

Related Party Transactions

• The transactions involve the Chief People Officer and the company, which are considered related party dealings as they pertain to executive compensation and share ownership.

Stakeholder Impact

• Shareholders: The transactions reflect the company's ongoing executive compensation strategy, aligning management's interests with shareholder value through equity grants.
• Employees: The equity compensation plans demonstrate the company's approach to rewarding and retaining senior talent.

Next Steps

• The restricted stock granted on June 13, 2025, will begin vesting in three equal annual installments starting June 13, 2026.

Key Dates

Keywords

J. M. Smucker Co., SJM, SEC Form 4, Insider Trading, Equity Compensation, Restricted Stock, Performance Units, Stock Ownership, Chief People Officer, Jill R. Penrose