Form 4: WK Kellogg Co Director Gund Acquires Deferred and Phantom Stock Units

Director G. Zachary Gund reports acquisition of deferred stock units and phantom stock in WK Kellogg Co.

Summary

• On March 15, 2024, Director G. Zachary Gund acquired 22.3176 deferred stock units of WK Kellogg Co at a price of $16.69, bringing his total holdings to 2,350.32 units.
• These deferred stock units are payable in shares of Common Stock, either in a lump sum or in ten annual installments, commencing on the date on which the Reporting Persons service as a Director terminates.
• On March 19, 2024, Gund also acquired 96.78 shares of phantom stock at $16.51, increasing his total to 223.39 shares.
• These phantom stocks were acquired for the benefit of the Reporting Person under the WK Kellogg Co non-employee director compensation program in connection with a cash dividend paid on shares of the common stock.
• The shares become distributable to the Reporting Person or his beneficiary only upon the Reporting Persons separation of service with the Issuer (within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended).

Sentiment

Score: 7

Explanation: The document reflects routine director compensation activity, suggesting a neutral to slightly positive sentiment due to insider confidence.

Positives

• The acquisition of deferred stock units and phantom stock by a director signals confidence in the company's future performance.

Future Outlook

The deferred stock units are payable in shares of Common Stock, either in a lump sum or in ten annual installments, commencing on the date on which the Reporting Persons service as a Director terminates. The shares become distributable to the Reporting Person or his beneficiary only upon the Reporting Persons separation of service with the Issuer (within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended).

Industry Context

Director stock acquisitions are common and often tied to compensation plans, aligning director interests with shareholder value.

Stakeholder Impact

• The acquisition of stock units by a director can positively influence shareholder sentiment.

Key Dates