ADM (ADM) CEO Luciano reports 16,882-share tax withholding, retains large stake

Rhea-AI Filing Summary

Archer-Daniels-Midland Co President & CEO Juan R. Luciano reported a tax-related share disposition rather than an open-market trade. On March 20, 2026, 16,882 shares of common stock were withheld at $68.64 per share to cover tax obligations.

After this withholding, Luciano directly holds 657,460 shares of ADM common stock. The filing also updates indirect holdings, showing 238 shares held by a family LLC, 238,370 shares held by an irrevocable trust, and 1,254,419 shares held by a revocable trust.

Insights

Insider trading and governance analyst

CEO’s Form 4 shows routine tax withholding, not an open-market sale.

The filing shows an F-code transaction where 16,882 shares were withheld at $68.64 per share to satisfy tax obligations. This is described as a “payment of exercise price or tax liability by delivering securities,” which is a mechanical, non-market disposition.

Following the transaction, Juan Luciano still directly owns 657,460 shares, with additional indirect holdings via a family LLC, an irrevocable trust, and a revocable trust. Because the disposition is purely for tax purposes and not a discretionary buy or sell in the market, its informational value for investors is limited.

Insider Trade Summary

Net Seller: 16,882 shares

Net Sell 4 txns

Insider LUCIANO JUAN R

Role President & CEO

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common Stock	16,882	$68.64	$1.16M
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 657,460 shares (Direct); Common Stock — 238 shares (Indirect, By Family LLC); Common Stock — 238,370 shares (Indirect, By Irrevocable Trust); Common Stock — 1,254,419 shares (Indirect, By Revocable Trust)

FAQ

What insider transaction did ADM President & CEO Juan R. Luciano report on this Form 4?

Juan R. Luciano reported a tax-withholding disposition of ADM shares. On March 20, 2026, 16,882 shares of common stock were withheld at $68.64 per share to satisfy tax obligations, rather than sold in the open market.

How many ADM shares were involved in Juan R. Luciano’s tax-withholding transaction?

The transaction involved 16,882 ADM common shares. These shares were withheld at a price of $68.64 per share to cover tax liabilities, classified under transaction code F, which indicates payment of taxes or exercise price using company stock.

How many ADM shares does CEO Juan R. Luciano hold directly after this Form 4 transaction?

After the tax-withholding event, Juan R. Luciano holds 657,460 ADM common shares directly. This figure reflects his direct ownership position following the 16,882-share withholding to cover tax obligations reported in the filing.

What indirect ADM share holdings related to Juan R. Luciano are shown in the Form 4?

The filing shows indirect ADM holdings of 238 shares through a family LLC, 238,370 shares through an irrevocable trust, and 1,254,419 shares through a revocable trust. These entries reflect updated post-transaction balances for entities associated with Luciano.

Does the ADM Form 4 filing show an open-market sale by CEO Juan R. Luciano?

The filing does not show an open-market sale. It reports an F-code tax-withholding disposition, where 16,882 shares were delivered at $68.64 per share to cover tax obligations, a routine administrative event rather than a discretionary market sale.

What does transaction code F mean in Juan R. Luciano’s ADM Form 4 filing?

Transaction code F indicates payment of an exercise price or tax liability using company stock. In this case, 16,882 ADM shares were withheld at $68.64 per share to satisfy taxes, rather than being bought or sold on the open market.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 03/25/2026 - 04:46 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

LUCIANO JUAN R

(Last) (First) (Middle)

77 W. WACKER DR., SUITE 4600

(Street)

CHICAGO ILLINOIS 60601

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Archer-Daniels-Midland Co [ ADM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President & CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/20/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/20/2026		F		16,882	D	$68.64	657,460	D
Common Stock								238	I	By Family LLC
Common Stock								238,370	I	By Irrevocable Trust
Common Stock								1,254,419	I	By Revocable Trust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	Dana Ng, Attorney-in-Fact	03/23/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)