Form 4: WK Kellogg Co Director R David Banyard Acquires Phantom Stock

Director R David Banyard acquired phantom stock in WK Kellogg Co through a non-employee director compensation program.

Summary

• On March 19, 2024, R David Banyard, a director of WK Kellogg Co, acquired 96.78 shares of phantom stock.
• The acquisition was made under the WK Kellogg Co non-employee director compensation program in connection with a cash dividend paid on shares of common stock.
• The price of the phantom stock was $16.51.
• Following the transaction, Banyard directly owns 223.39 derivative securities.
• Each share of phantom stock is the economic equivalent of one share of WK Kellogg Co common stock and becomes distributable upon separation of service.

Sentiment

Score: 6

Explanation: The document is a neutral report of a routine transaction. It doesn't contain information that would significantly impact investor sentiment positively or negatively.

Positives

• The acquisition of phantom stock aligns the director's interests with the company's performance.
• The non-employee director compensation program incentivizes directors.

Future Outlook

The phantom stock becomes 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

This Form 4 filing is a routine disclosure related to director compensation and stock ownership, common in publicly traded companies. It reflects standard practices for aligning director incentives with shareholder value.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning director interests with company performance.

Key Dates