Form 4: McCormick & Co. President & CEO, Brendan M. Foley, Reports Acquisition of Phantom Stock

Brendan M. Foley, President & CEO of McCormick & Co., reports the acquisition of phantom stock units representing the right to receive common stock.

Summary

• On July 15, 2024, Brendan M. Foley, President & CEO of McCormick & Co., reported a transaction involving derivative securities.
• Foley acquired 31.986 units of phantom stock at a price of $72.75 each.
• These phantom stock units represent the right to receive shares of Common Stock Voting under the terms of the Non-Qualified Retirement Savings Plan.
• Following the transaction, Foley directly owns 99,175.859 shares of Common Stock Voting and 1,138.279 shares of Common Stock Non Voting.
• Additionally, Foley indirectly owns 9,334.329 derivative securities through the Non-Qualified Retirement Savings Plan.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it is a standard regulatory filing reporting an insider transaction. The acquisition of phantom stock can be seen as a positive sign, aligning management's interests with shareholders, but it's not a major event.

Positives

• The acquisition of phantom stock aligns the executive's interests with those of the shareholders.
• The phantom stock is payable in shares of Common Stock Voting in accordance with the terms of the Non-Qualified Retirement Savings Plan.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the holdings and transactions of company executives.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding the executive's holdings.
• The acquisition of phantom stock aligns the executive's interests with those of the shareholders.

Key Dates