Form 4: McCormick & Co. President & CEO Brendan M. Foley Reports Stock Transactions

McCormick & Co.'s President & CEO, Brendan M. Foley, reported the acquisition of phantom stock and holdings of common stock.

Summary

• Brendan M. Foley, President & CEO of McCormick & Co., filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• The filing indicates that Foley acquired 31.183 shares of phantom stock on November 18, 2024, at a price of $74.62 per share.
• These phantom stock shares are payable in common stock voting in accordance with the terms of the Non-Qualified Retirement Savings Plan.
• Following the transaction, Foley directly owns 99,265.503 shares of common stock voting and 1,142.834 shares of common stock non-voting.
• He also indirectly owns 9,704.876 shares of phantom stock through the Non-Qualified Retirement Savings Plan.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing and does not indicate any positive or negative sentiment.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common practice for publicly traded companies.

Comparison to Industry Standards

• Executive stock transactions are a standard part of compensation packages in publicly traded companies like McCormick & Co.
• The use of phantom stock is a common method for deferred compensation and aligning executive interests with shareholder value.
• Similar filings are regularly made by executives at comparable companies such as Conagra Brands (CAG) and General Mills (GIS).

Stakeholder Impact

• The transaction has a minor impact on shareholders as it reflects changes in executive ownership, which is a normal part of executive compensation.

Key Dates

Keywords

Form 4, Beneficial Ownership, Stock Transaction, Phantom Stock, McCormick & Co, Executive Compensation, MKC