Form 4: WK Kellogg Co Director Michael Corbo Reports Changes in Beneficial Ownership

Director Michael Corbo reports acquisition and disposal of WK Kellogg Co stock and deferred stock units.

Summary

• On May 15, 2024, Michael Corbo, a director of WK Kellogg Co, reported changes in beneficial ownership of the company's stock.
• Corbo acquired 6,699 shares of common stock at $0, increasing his holdings to 16,559 shares.
• He also acquired 568 deferred stock units, each equivalent to one share of common stock, at a price of $20.9, bringing his total to 1,365.57 deferred stock units.
• The shares were granted under the Amended and Restated WK Kellogg Co 2023 Long-Term Incentive Plan as part of the non-employee director compensation program.
• The deferred stock units are payable in shares of common stock upon termination of service as a director.

Sentiment

Score: 6

Explanation: The document is a routine filing of stock ownership changes by a company director. It doesn't contain any particularly positive or negative information, hence a neutral sentiment score.

Positives

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

Future Outlook

The deferred stock units are payable in shares of common stock upon termination of service as a director, either in a lump sum or in ten annual installments.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the ownership stake of a company director.

Key Dates