Form 4: J.M. Smucker Co. Executive Mark T. Smucker Reports Changes in Beneficial Ownership

Mark T. Smucker, Chair of the Board, President, and CEO of J.M. Smucker Co., reports changes in beneficial ownership of company stock due to tax liability satisfaction.

Summary

• On June 17, 2024, Mark T. Smucker, Chair of the Board, President, and CEO of J.M. Smucker Co., reported changes in his beneficial ownership of the company's common shares.
• The changes resulted from the withholding of shares by the company to cover tax liabilities upon the vesting of restricted stock under the 2020 Equity and Incentive Compensation Plan.
• A total of 1,357 shares were withheld at a price of $112.18, and another 1,250 shares were withheld at the same price.
• Following these transactions, Mr. Smucker directly owns 57,743 common shares.
• He also has indirect ownership through a 401(k) (7,006 shares), a GRAT (Grantor Retained Annuity Trust) established in 2024 (40,000 shares), a GRAT established in 2023 (50,000 shares), a trust (40,667 shares), trusts for the benefit of his son (13,002 shares), trusts for the benefit of his daughter (13,002 shares), and his wife (3,469 shares).
• Mr. Smucker disclaims beneficial ownership of shares held in trusts for his children and by his wife.

Sentiment

Score: 5

Explanation: This is a neutral filing related to standard executive compensation practices and does not indicate any positive or negative sentiment.

Industry Context

This filing is a routine disclosure related to executive compensation and tax obligations. It is standard practice for companies to withhold shares to cover taxes upon the vesting of restricted stock units.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it relates to the standard tax obligations of an executive.

Key Dates