Form 4: Legion Partners and Affiliates Report Beneficial Ownership Changes in LifeCore Biomedical

Christopher S. Kiper, along with Legion Partners and related entities, filed a Form 4 detailing changes in beneficial ownership of LifeCore Biomedical, Inc. securities due to the grant of restricted stock units.

Summary

• Christopher S. Kiper, a director of LifeCore Biomedical, Inc., and related entities including Legion Partners, L.P. I, Legion Partners, L.P. II, Legion Partners, LLC, Legion Partners Asset Management, LLC, and Legion Partners Holdings, LLC, jointly filed a Form 4.
• The filing reports the acquisition of 30,000 restricted stock units by Mr. Kiper on July 8, 2024.
• These restricted stock units convert into common stock on a 1-for-1 basis and will vest on the earlier of the first anniversary of the grant date or the date of the 2025 Annual Meeting of Stockholders, provided it's at least 50 weeks from the grant date.
• Mr. Kiper serves on the board as a representative of Legion Partners Asset Management, which is entitled to the economic interest in the securities granted to him.
• The filing also details the indirect ownership of common stock by Legion Partners, L.P. I (2,772,956 shares), Legion Partners, L.P. II (167,184 shares), and Legion Partners Holdings, LLC (200 shares).

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports changes in ownership.

Industry Context

Form 4 filings are standard disclosures required by the SEC when there are changes in beneficial ownership of a company's securities by its directors, officers, or principal stockholders, providing transparency to the market.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the ownership structure of LifeCore Biomedical.
• It informs stakeholders about the holdings of key individuals and entities associated with the company.

Key Dates