[Form 3] The Campbell's Company Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

SEC Form 3 filing for Campbell Soup Co. (CPB) discloses the initial beneficial ownership of Director and >10% owner Mary Alice Dorrance Malone Jr. as of 17 Jul 2025.

• Total indirect common-stock position: 53,766,486 shares held through seven trusts and entities, the largest being the Mary Alice Dorrance Malone Revocable Trust (39,960,337 shares) and Contango Limited LP (13,230,543 shares).
• All shares are reported as indirect ("I"); Ms. Malone Jr. disclaims beneficial ownership beyond her pecuniary interest in each vehicle.
• Filing confirms her roles as Director and 10% Owner; no derivative securities are reported.
• No transactions, purchase prices or expirations are listed—this is a disclosure of existing positions, not a new trade.

The submission includes an exhibit granting power of attorney to Marci K. Donnelly and was signed on 28 Jul 2025.

Positive

• 53.8 million CPB shares (>10% of outstanding) confirmed under insider control, indicating continued alignment between major shareholder and public investors.

Negative

• None.

Insights

Securities Analyst

TL;DR: Large insider stake disclosed; no transaction activity—neutral market impact.

This Form 3 merely formalizes Mary Alice Dorrance Malone Jr.’s indirect ownership, totaling roughly 53.8 million CPB shares across multiple trusts and partnerships. Her >10% position was already widely known, so the filing adds limited incremental information. No purchases, sales, or derivative positions are reported, hence no immediate valuation implications. Nevertheless, the size and structure reinforce ongoing insider alignment and potential voting influence, especially through the Revocable Trust and Contango LP. Overall, the disclosure is routine and not expected to move the stock.

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Malone Mary Alice Dorrance JR

(Last) (First) (Middle)

1 CAMPBELL PLACE

(Street)

CAMDEN NJ 08103

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
07/17/2025

3. Issuer Name and Ticker or Trading Symbol
CAMPBELL'S Co [ CPB ]

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

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

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	39,960,337	I	Mary Alice Dorrance Malone Revocable Trust(1)
Common Stock	14,554	I	1984 Trust fbo Mary Alice Malone, Jr.(2)
Common Stock	14,554	I	1984 Trust fbo Catherine Dorrance Malone(3)
Common Stock	78,018	I	Mary Alice Malone, Jr. Management Trust(2)
Common Stock	467,147	I	GRAT 9 Follow-On Trust fbo Mary Alice Malone, Jr.(2)
Common Stock	13,230,543	I	Contango Limited LP(4)
Common Stock	1,333	I	Hera Management LLC(5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Ms. Malone, Jr. is co-beneficiary and co-trustee of the trust. Ms. Malone, Jr. disclaims beneficial ownership of all of these shares except to the extent of her pecuniary interest therein.

2. Ms. Malone, Jr. is the beneficiary and co-trustee of the trust.

3. Ms. Malone, Jr. is a co-trustee and a remainder beneficiary of the trust. Ms. Malone, Jr. disclaims beneficial ownership of all of these shares except to the extent of her pecuniary interest therein.

4. Held by Contango Limited LP, of which Hera Management LLC, a single member LLC of which Mary Alice Dorrance Malone Revocable Trust is the sole member, is the general partner. Ms. Malone, Jr. disclaims beneficial ownership of all of these shares except to the extent of her pecuniary interest therein.

5. Held by Hera Management LLC, of which Mary Alice Dorrance Malone Revocable Trust is the sole member. Ms. Malone, Jr. disclaims beneficial ownership of all of these shares except to the extent of her pecuniary interest therein.

Remarks:

Exhibit 24 - Power of Attorney

	Marci K. Donnelly, Attorney-in-Fact	07/28/2025
	** 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 5 (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.

FAQ

How many Campbell Soup (CPB) shares does Mary Alice Dorrance Malone Jr. own?

Approximately 53,766,486 common shares, all held indirectly through trusts and entities.

Why was this Form 3 filed for CPB?

To provide the initial statement of beneficial ownership by a new Section 16 insider (Director & 10% Owner).

Are there any recent CPB share purchases or sales disclosed?

No. The filing lists existing positions only; no transaction activity is reported.

Does the filing include any derivative securities?

No derivative positions are reported in Table II.

Which entity holds the largest block of CPB shares for Ms. Malone Jr.?

The Mary Alice Dorrance Malone Revocable Trust holds 39,960,337 shares.