Form 4: Organon Director Deborah Leone Boosts Stake with Phantom Stock Acquisition

Organon & Co. Director Deborah R. Leone acquired 23,904.382 phantom stock units on June 13, 2025, increasing her total beneficial ownership to 62,702.655 units.

Summary

• Deborah R. Leone, a Director of Organon & Co. (OGN), acquired 23,904.382 phantom stock units.
• The transaction occurred on June 13, 2025.
• Each phantom stock unit is an economic equivalent of one share of Organon common stock, with a 1-for-1 conversion.
• The units were acquired at a price of $10.04 per unit.
• Following this transaction, Ms. Leone beneficially owns a total of 62,702.655 phantom stock units.
• These holdings include units acquired through dividend reinvestment transactions on June 13, 2024, September 12, 2024, December 12, 2024, March 13, 2025, and June 12, 2025.
• The phantom stock units are granted under the Organon Non-Employee Director Savings Plan and are payable in cash upon settlement after the reporting person's termination of service as a director.

Sentiment

Score: 7

Explanation: The acquisition of phantom stock by a director generally indicates confidence in the company's future, even if it's a routine compensation event. It increases the director's vested interest in the company's performance.

Positives

• A director increasing their beneficial ownership, even through phantom stock, can signal confidence in the company's future performance.
• The acquisition of 23,904.382 phantom stock units at $10.04 per unit represents a significant increase in the director's vested interest in the company.

Future Outlook

This Form 4 filing reports a past transaction and does not contain forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

This filing is a routine insider transaction report for a pharmaceutical company director. It reflects an individual's compensation and investment decisions rather than broader industry trends. In the pharmaceutical industry, executive and director compensation often includes equity-linked instruments like phantom stock to align interests with shareholders.

Stakeholder Impact

• Shareholders: The increase in a director's beneficial ownership, even through phantom stock, can be viewed positively as it aligns the director's interests with shareholder value. It suggests confidence from an insider.

Next Steps

• The document reports a completed transaction and does not outline specific future actions, events, or milestones for the company or the reporting person beyond the terms of the phantom stock settlement upon termination of service.

Key Dates

Keywords

Organon & Co., OGN, SEC Form 4, Insider Transaction, Phantom Stock, Director Ownership, Deborah R. Leone, Equity Compensation, Beneficial Ownership