[Form 4] Conagra Brands, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Conagra Brands (CAG) Form 4 – insider activity by SVP & Corporate Controller William Eric Johnson. On 17 Jul 2025 the executive received 10,006 new restricted stock units (RSUs) that will vest in three equal tranches from 2026-2028. RSU vesting triggered two same-day exercises (Code M):

• 19 Jul 2025: 1,516 shares issued; 450 shares automatically sold/withheld for taxes at $19.07.
• 20 Jul 2025: 3,469 shares issued; 1,018 shares withheld at $19.07.

After the transactions Johnson directly owns 10,501 common shares and retains the new 10,006 unvested RSUs. All sales were tax-related; there was no open-market selling for personal gain. The filing indicates continuing equity-based compensation and increased long-term alignment with shareholders.

Insights

Equity Compensation Analyst

TL;DR: Routine RSU grant plus tax-withholding sales; net ownership up, impact neutral.

The Form 4 shows standard executive compensation mechanics. Johnson gained 1,516 and 3,469 shares from 2023 and 2022 RSU vestings, surrendering 1,468 shares for withholding. The fresh 10,006-unit grant materially expands future ownership but has no cash impact today. Because disposals were automatic and small relative to holdings, the transaction does not signal bearish sentiment. Overall, the filing is neutral for valuation yet positive for governance as it ties compensation to long-term share price.

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

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

1. Name and Address of Reporting Person^*

Johnson William Eric

(Last) (First) (Middle)

C/O CONAGRA BRANDS, INC.

222 W. MERCHANDISE MART PLAZA, STE. 1300

(Street)

CHICAGO IL 60654

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CONAGRA BRANDS INC. [ CAG ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, Corporate Controller

3. Date of Earliest Transaction (Month/Day/Year)
07/17/2025

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

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

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

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	07/19/2025		M		1,516(1)	A	$0	8,500	D
Common Stock	07/19/2025		F(2)		450	D	$19.07	8,050	D
Common Stock	07/20/2025		M		3,469(3)	A	$0	11,519	D
Common Stock	07/20/2025		F(2)		1,018	D	$19.07	10,501	D

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
Restricted Stock Units	(4)	07/17/2025		A		10,006		(5)	(5)	Common Stock	10,006	$0	10,006	D
Restricted Stock Units	(1)	07/19/2025		M			1,516	(1)	(1)	Common Stock	1,516	$0	1,516	D
Restricted Stock Units	(3)	07/20/2025		M			3,469	(3)	(3)	Common Stock	3,469	$0	0	D

Explanation of Responses:

1. The restricted stock units ("RSUs") were granted on July 19, 2023 and vested 33.33% on each of July 19, 2024 and July 19, 2025, and will vest 33.34% on July 19, 2026. Each RSU represents the contingent right to receive one share of the Issuer's common stock on the vesting date.

2. Shares withheld for taxes.

3. The restricted stock units ("RSUs") were granted on July 20, 2022 and vested on July 20, 2025. Each RSU represented the contingent right to receive one share of the Issuer's common stock on the vesting date.

4. Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock upon settlement.

5. These restricted stock units will vest 33.33% on 7/17/2026, 33.33% on 7/17/2027, and 33.34% on 7/17/2028.

	/s/ McLaurin Files, Attorney-in-Fact	07/21/2025
	** Signature of Reporting Person	Date
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