Form 4: Kenvue Inc. Director Jeffrey C. Smith Reports Changes in Beneficial Ownership

Director Jeffrey C. Smith reports changes in beneficial ownership of Kenvue Inc. stock, including a pro rata in-kind distribution and deferred share units.

Summary

• On May 16, 2025, Jeffrey C. Smith, a director of Kenvue Inc., reported changes in his beneficial ownership of the company's stock.
• These changes include a pro rata in-kind distribution of 1,124,062 shares of common stock by a Starboard Account to an underlying investor for no consideration.
• Smith also reported ownership of 1,997 Deferred Share Units (DSUs), each representing the right to receive one share of Kenvue common stock.
• These DSUs represent deferral of cash compensation under the Issuer's Amended and Restated Deferred Fee Plan for Directors and will be settled in shares of common stock following Smith's separation from service.
• Following these transactions, Smith directly owns 1,997 DSUs and indirectly owns 20,929,938 shares through Starboard Value LP.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing. It doesn't contain information that would significantly sway investor sentiment positively or negatively.

Future Outlook

The DSUs will be settled in shares of common stock following the Reporting Person's separation from service.

Industry Context

This filing is a routine disclosure of changes in beneficial ownership by a company insider, as required by SEC regulations. It provides transparency to investors regarding the holdings and transactions of key individuals within the company.

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider transactions.

Key Dates

Keywords

Kenvue Inc., Jeffrey C. Smith, beneficial ownership, Form 4, Starboard Value LP, deferred share units, KVUE, director, stock distribution