Form 4: McCormick & Co. CEO Brendan Foley Reports Changes in Beneficial Ownership

Chairman, President, and CEO of McCormick & Co., Brendan M. Foley, reports changes in beneficial ownership of company stock, including phantom stock acquired through a non-qualified retirement savings plan.

Summary

• Brendan M. Foley, Chairman, President, and CEO of McCormick & Co., filed a Form 4 with the SEC detailing changes in his beneficial ownership of the company's securities.
• The report indicates that Foley directly owns 108,652.016 shares of Common Stock Voting and 1,145.451 shares of Common Stock Non Voting.
• He also indirectly owns 11,539.486 derivative securities in the form of Phantom Stock through a Non-Qualified Retirement Savings Plan.
• On April 22, 2025, Foley acquired 32.119 shares of Phantom Stock at a price of $75.74 per share.
• Each share of phantom stock represents the right to receive one share of Common Stock Voting, payable in accordance with the terms of the Non-Qualified Retirement Savings Plan.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing, so the sentiment is neutral. It simply reflects changes in ownership.

Positives

• The acquisition of phantom stock through the retirement savings plan suggests continued alignment of management's interests with shareholders.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. This filing is specific to McCormick & Co. and its executive leadership.

Comparison to Industry Standards

• Form 4 filings are standard practice across all publicly traded companies in the US and are required by the SEC.
• Executive compensation packages often include stock options and restricted stock units, similar to the phantom stock arrangement reported here.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the holdings of the company's CEO.

Key Dates

Keywords

Form 4, beneficial ownership, McCormick & Co, MKC, Brendan Foley, phantom stock, Non-Qualified Retirement Savings Plan, SEC