Form 4: Kenvue Inc. Director Tamara Franklin Acquires Deferred Share Units

Director Tamara Franklin acquired 9,259 Deferred Share Units (DSUs) of Kenvue Inc. on May 23, 2024, under the company's Amended and Restated Deferred Fee Plan for Directors.

Summary

• On May 23, 2024, Tamara Franklin, a director of Kenvue Inc., acquired 9,259 Deferred Share Units (DSUs) under the Issuer's Amended and Restated Deferred Fee Plan for Directors.
• These DSUs will be settled in shares of Kenvue's common stock upon the termination of Franklin's directorship, with each DSU representing the right to receive one share of common stock on the settlement date.
• The price of the DSUs is $19.44.
• Following the reported transaction, Franklin beneficially owns 17,188.543 DSUs, which includes DSUs acquired as dividend equivalents.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects a director's increased stake in the company through deferred share units, indicating confidence in the company's future.

Positives

• The acquisition of DSUs by a director signals confidence in the company's future performance.

Future Outlook

The DSUs will be settled in shares of Kenvue's common stock upon the termination of Franklin's directorship.

Industry Context

This filing is a routine disclosure of a director's acquisition of deferred share units, which is a common form of compensation in publicly traded companies. It reflects the director's alignment with shareholder interests through equity ownership.

Comparison to Industry Standards

• Deferred Share Units (DSUs) are a common form of equity compensation for directors in publicly traded companies, aligning their interests with those of shareholders.
• Companies like Procter & Gamble (PG) and Unilever (UL) also utilize similar equity-based compensation plans for their directors.
• The specific terms of DSU plans, such as vesting schedules and settlement dates, can vary across companies but generally aim to incentivize long-term value creation.

Stakeholder Impact

• The acquisition of DSUs by a director can positively influence shareholder sentiment, as it aligns the director's interests with those of the shareholders.

Key Dates