Form 4: Kenvue Director Erica L. Mann Receives Grant of Deferred Share Units

Kenvue Inc. Director Erica L. Mann was granted 7,659 Deferred Share Units, increasing her beneficial ownership to 9,349 units, as part of the company's director compensation plan.

Summary

• Kenvue Inc. Director Erica L. Mann was granted 7,659 Deferred Share Units (DSUs) on May 22, 2025.
• These DSUs were acquired under the Issuer's Amended and Restated Deferred Fee Plan for Directors.
• Each DSU represents the right to receive one share of Kenvue common stock upon the termination of Ms. Mann's directorship.
• The implied value of the common stock at the time of grant was $23.5 per share.
• Following this transaction, Ms. Mann beneficially owns a total of 9,349 Deferred Share Units.

Sentiment

Score: 7

Explanation: The sentiment is positive as it reflects a routine, expected compensation event that aligns director interests with shareholders, indicating stable corporate governance. It is not highly impactful on its own but contributes to overall positive governance perception.

Positives

• The grant of Deferred Share Units aligns the director's long-term interests with those of Kenvue shareholders, as the value of the units is tied to the company's common stock performance.
• This transaction is part of a structured and pre-existing compensation plan for directors, indicating stable corporate governance practices regarding executive remuneration.

Future Outlook

The Deferred Share Units granted to Director Erica L. Mann are scheduled to be settled in shares of Kenvue's common stock upon the termination of her directorship.

Industry Context

The grant of equity-based compensation, such as Deferred Share Units, to non-employee directors is a common practice across publicly traded companies. This method is widely used to align the interests of board members with long-term shareholder value and to incentivize their continued service.

Comparison to Industry Standards

• The use of Deferred Share Units (DSUs) for director compensation is a standard practice in corporate governance, comparable to compensation structures seen in other large consumer health or pharmaceutical companies like Johnson & Johnson (from which Kenvue spun off), Procter & Gamble, or Colgate-Palmolive, which often utilize equity awards to incentivize long-term commitment and performance from their board members.

Corporate Governance

Related Party Transactions

• The grant of Deferred Share Units to Director Erica L. Mann constitutes a related party transaction, executed under the Issuer's Amended and Restated Deferred Fee Plan for Directors, which is a standard compensation mechanism for board members.

Stakeholder Impact

• Shareholders: The grant aligns the director's financial interests with long-term shareholder value, as the DSUs convert to common stock upon directorship termination, tying compensation to stock performance.

Next Steps

• Settlement of the Deferred Share Units in Kenvue common stock upon the termination of Erica L. Mann's directorship.

Key Dates

Keywords

Kenvue, KVUE, SEC Form 4, Deferred Share Units, DSU, Director Compensation, Insider Transaction, Equity Grant