Form 4: McCormick & Co. Chairman, President & CEO, Brendan M. Foley, Reports Changes in Beneficial Ownership
SEC Form 4
Brendan M. Foley, Chairman, President & CEO of McCormick & Co., filed a Form 4 detailing the acquisition of restricted stock units.
Summary
- Brendan M. Foley, Chairman, President & CEO of McCormick & Co., reported changes in beneficial ownership.
- The report includes the acquisition of 57,549 Restricted Stock Units on February 7, 2025.
- These Restricted Stock Units represent a contingent right to receive one share of Common Stock Voting each.
- The units vest in thirds over a three-year period, starting on February 15, 2026.
- Foley directly owns 117,373.016 shares of Common Stock Voting and 1,145.451 shares of Common Stock Non Voting.
- Foley indirectly owns 9,856.448 shares of Common Stock Voting through a Non Qualified Retirement Savings Plan.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral.
Positives
- The acquisition of restricted stock units aligns the executive's interests with those of the shareholders.
Future Outlook
The document does not contain specific forward-looking statements regarding the company's financial performance or strategic direction.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates changes in the executive's holdings of company stock, which is common for executives receiving stock-based compensation.
Stakeholder Impact
- The acquisition of restricted stock units by the CEO aligns his interests with shareholders, potentially encouraging decisions that increase shareholder value.
Key Dates
| Date | Description |
|---|---|
| 02/07/2025 | Date of transaction: Acquisition of Restricted Stock Units |
| 02/14/2025 | Date of filing: Form 4 filing date |
| 02/15/2026 | First vesting date for Restricted Stock Units (one-third) |
| 02/15/2027 | Second vesting date for Restricted Stock Units (one-third) |
| 02/15/2028 | Third vesting date for Restricted Stock Units (one-third) |
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