Form 4: McCormick & Co. Executive Reports Share Award
SEC Form 4 Filing
McCormick & Co.'s Vice President, General Counsel, Jeffery D. Schwartz, reports the acquisition of 14,445 shares of common stock through a long-term incentive program.
Summary
- Jeffery D. Schwartz, Vice President and General Counsel of McCormick & Co., has reported a transaction involving the acquisition of company stock.
- The transaction occurred on January 27, 2025, and involved the acquisition of 14,445 shares of common stock.
- These shares were awarded as part of McCormick's Long-Term Incentive Program (LTIP).
- The LTIP performance cycle for these shares began on December 1, 2021, and ended on November 30, 2024.
- Following this transaction, Mr. Schwartz directly owns 76,362 shares of voting common stock and 246 shares of non-voting common stock.
Sentiment
Score: 7
Explanation: The document reflects a standard executive compensation practice, indicating a positive alignment of interests between management and shareholders. It is not a major event but is a positive sign of the company's commitment to its executives.
Positives
- The share award indicates that Mr. Schwartz is being rewarded for his performance over the past three years.
- The LTIP program aligns executive compensation with the long-term performance of the company.
Industry Context
This is a routine filing related to executive compensation and is common practice for publicly traded companies.
Comparison to Industry Standards
- Many publicly traded companies use long-term incentive programs to align executive compensation with company performance.
- The structure of McCormick's LTIP, with a three-year performance cycle, is consistent with industry norms.
- Similar programs are used by companies such as General Mills (GIS) and Kellogg (K) to incentivize their executives.
Stakeholder Impact
- The share award aligns executive interests with those of shareholders, potentially fostering better long-term performance.
- The award does not have a direct impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 2021-12-01 | Start date of the three-year performance cycle for the Long-Term Incentive Program (LTIP). |
| 2024-11-30 | End date of the three-year performance cycle for the Long-Term Incentive Program (LTIP). |
| 2025-01-27 | Date of the transaction where shares were awarded to Jeffery D. Schwartz. |
| 2025-01-29 | Date the Form 4 was signed. |
Keywords
McCormick & Co, MKC, insider trading, executive compensation, share award, LTIP, long-term incentive program, Jeffery D. Schwartz, Form 4
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