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

Brendan M. Foley, President & CEO of McCormick & Co., filed a Form 4 detailing changes in his beneficial ownership of company stock, including the acquisition of phantom stock units.

Summary

• On April 9, 2024, Brendan M. Foley, the President & CEO of McCormick & Co., reported changes in his beneficial ownership of the company's securities.
• The report, filed as a Form 4 with the SEC, details the acquisition of 30.767 units of phantom stock on April 8, 2024, at a price of $75.63 per unit.
• These phantom stock units are payable in shares of Common Stock Voting and were acquired through the Non-Qualified Retirement Savings Plan.
• Following the reported transaction, Foley directly owns 99,131.008 shares of Common Stock Voting and 1,136 shares of Common Stock Non Voting.
• He also indirectly owns 9,054.601 derivative securities (phantom stock) through the Non Qualified Retirement Savings Plan.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing, indicating a neutral sentiment. It reflects routine transactions and disclosures.

Positives

• The acquisition of phantom stock aligns the executive's interests with those of the shareholders, incentivizing company performance.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track executive compensation and potential alignment with shareholder interests.

Stakeholder Impact

• Shareholders can monitor insider transactions to assess management's alignment with company performance.

Key Dates