Form 4: McCormick & Co. CEO Brendan Foley Reports Phantom Stock Acquisition

McCormick & Co. Chairman, President & CEO Brendan Foley reported the acquisition of 32.085 shares of phantom stock and updated his direct and indirect beneficial ownership of company shares.

Summary

• Brendan M. Foley, Chairman, President & CEO of McCormick & Co. Inc. (MKC), filed a Form 4 statement.
• The filing reports an acquisition of 32.085 shares of phantom stock on June 30, 2025.
• Each share of phantom stock represents the right to receive one share of Common Stock Voting.
• The phantom stock was acquired at a price of $75.82 per share.
• Following this transaction, Mr. Foley beneficially owns 11,772.064 shares of phantom stock indirectly through a Non-Qualified Retirement Savings Plan.
• Mr. Foley also directly owns 108,652.016 shares of Common Stock Voting and 1,145.454 shares of Common Stock Non Voting.

Sentiment

Score: 6

Explanation: The filing indicates an increase in executive beneficial ownership through phantom stock, which generally aligns management interests with shareholders, contributing to a slightly positive sentiment.

Positives

• The acquisition of phantom stock increases the CEO's beneficial ownership, further aligning his interests with those of shareholders.
• The transaction is part of a Non-Qualified Retirement Savings Plan, indicating a structured compensation and retention mechanism for key executives.

Future Outlook

The phantom stock acquired is payable in shares of Common Stock Voting in accordance with the terms of the Non-Qualified Retirement Savings Plan, indicating a future conversion or payout event.

Industry Context

This Form 4 filing is a routine disclosure of insider transactions, common across all publicly traded companies. It reflects a standard component of executive compensation plans, where phantom stock is used to align executive incentives with long-term company performance without immediate equity dilution.

Related Party Transactions

• The acquisition of phantom stock by the Chairman, President & CEO is a transaction with the company as part of an executive compensation plan.

Stakeholder Impact

• Shareholders may view the increased beneficial ownership by the CEO as a positive sign of management's commitment and alignment with shareholder value.

Next Steps

• The phantom stock will be payable in shares of Common Stock Voting in accordance with the terms of the Non-Qualified Retirement Savings Plan.

Key Dates

Keywords

McCormick & Co., MKC, SEC Form 4, Brendan Foley, Phantom Stock, Executive Compensation, Insider Ownership, Corporate Governance