4/A: Perrigo Executive Alison Ives Corrects Previous SEC Filing Regarding Share Ownership

Alison Ives, EVP & Chief Scientific Officer of Perrigo, files an amended Form 4 to correct an underreporting of share ownership following a transaction on November 16, 2023.

Summary

• Alison Ives, an executive at Perrigo Company plc, filed an amendment to a previous Form 4 filing with the SEC.
• The amendment corrects the number of shares beneficially owned following a transaction on November 16, 2023.
• The original filing underreported the number of shares owned by 521 shares due to an administrative error.
• The corrected filing shows that Ives beneficially owns 10,901 ordinary shares after acquiring 2,040 shares at a price of $29.34 on November 16, 2023.
• The filing also includes a Power of Attorney, granting Todd W. Kingma, John Castanos, and Victor Torres the authority to execute SEC filings on Ives' behalf.

Sentiment

Score: 7

Explanation: The document is a routine correction of a previous filing. While the initial error is a minor negative, the prompt correction is a positive. Overall, the sentiment is neutral to slightly positive.

Positives

• The amended filing corrects a previous error, providing accurate information about the executive's share ownership.
• The existence of a Power of Attorney ensures continued compliance with SEC regulations even if the executive is unavailable.

Negatives

• The original filing contained an error, which could have misled investors if not corrected.

Risks

• Administrative errors in SEC filings can lead to regulatory scrutiny and potential penalties.
• Reliance on a Power of Attorney introduces the risk that the attorney-in-fact may not act in the executive's best interest.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Amendments, like this one, highlight the importance of accuracy in these filings.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies, ensuring transparency regarding insider transactions.
• Comparable companies like Teva Pharmaceutical Industries and Mylan (now Viatris) also regularly file Form 4s to report changes in beneficial ownership by their executives and directors.
• The level of detail and the requirement for timely filing are consistent across the pharmaceutical industry and regulated by the SEC.

Stakeholder Impact

• The correction of the filing ensures that shareholders and potential investors have accurate information regarding the executive's share ownership.

Key Dates