Form 4: McCormick & Co. President and CEO Reports Changes in Beneficial Ownership

Brendan M. Foley, President & CEO of McCormick & Co., reports changes in beneficial ownership of company stock and phantom stock as of June 4, 2024.

Summary

• Brendan M. Foley, President & CEO of McCormick & Co., filed a Form 4 with the SEC on June 5, 2024, reporting changes in beneficial ownership.
• The report indicates ownership of 99,175.859 shares of Common Stock Voting and 1,138.279 shares of Common Stock Non Voting.
• Foley also acquired 33.788 shares of Phantom Stock on June 4, 2024, at a price of $68.87 per share.
• Following the reported transaction, Foley beneficially owns 9,235.725 derivative securities through the Non Qualified Retirement Savings Plan.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing, so the sentiment is neither positive nor negative.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common for publicly traded companies. It provides transparency regarding the holdings of company insiders.

Comparison to Industry Standards

• Executive compensation packages often include phantom stock or similar derivative securities to align management's interests with those of shareholders.
• The reporting of beneficial ownership changes is a standard practice mandated by the SEC to ensure transparency and prevent insider trading.
• Comparable companies like Nestle, Unilever, and Kraft Heinz also have executives who regularly report changes in their beneficial ownership of company stock.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the holdings of the company's President & CEO.
• It assures stakeholders that executive compensation is aligned with company performance through stock ownership.

Key Dates