Form 4: McCormick & Co. President & CEO, Brendan M. Foley, Reports Changes in Beneficial Ownership

Brendan M. Foley, President & CEO of McCormick & Co., reports changes in beneficial ownership of company stock, including the acquisition of phantom stock units.

Summary

• On May 28, 2024, Brendan M. Foley, President & CEO of McCormick & Co., filed a Form 4 with the SEC.
• The filing reports changes in his beneficial ownership of McCormick & Co. stock.
• Foley acquired 65.261 units of phantom stock through the Non-Qualified Retirement Savings Plan, each representing the right to receive one share of Common Stock Voting.
• The price of the derivative security was $71.31.
• Following the reported transaction, Foley directly owns 99,175.859 shares of Common Stock Voting and 1,138.279 shares of Common Stock Non Voting.
• He indirectly owns 9,201.937 derivative securities through the 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 phantom stock aligns the executive's interests with those of the shareholders.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency regarding the transactions of company insiders. This filing indicates changes in the holdings of a key executive at McCormick & Co.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies and their executives.
• The acquisition of phantom stock is a common form of executive compensation, aligning management's interests with shareholder value.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the holdings of a key executive.

Key Dates