Campbell's director granted 1,977 phantom stock units

Averill Howard M reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Averill Howard M reported acquisition or exercise transactions in this Form 4 filing.

Campbell's Co director Howard M. Averill received a new compensation award in the form of phantom stock. On June 29, 2026, he was granted 1,977.4 phantom stock units at no cost. Each unit is the economic equivalent of one share of Campbell's common stock.

The grant increases his phantom stock balance to 39,343.3 units, which includes 697.59 units accumulated through dividend reinvestment since his prior report. The phantom shares are fully vested and will be settled in cash under the company’s Supplemental Retirement Plan when he retires, resigns, or his service otherwise terminates.

Insider Trade Summary

Grant/Award: 1,977.4 shares

Grant/Award 1 txn

Insider Averill Howard M

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	1,977.4	$0.00	$0.00

Holdings After Transaction: Phantom Stock — 39,343.3 contracts (Direct)

Footnotes (4)

1. F1. Each share of Phantom Stock is the economic equivalent of one share of issuer common stock.
2. F2. Phantom shares are fully vested.
3. F3. The value of Phantom Stock is payable in cash from the Company's Supplemental Retirement Plan upon reporting person's retirement, resignation or termination.
4. F4. Includes 697.59 shares acquired through dividend reinvestment since the reporting person's last report.

Key Figures

Phantom stock grant: 1,977.4 units Total phantom stock after grant: 39,343.3 units Dividend reinvestment units: 697.59 units +1 more

4 metrics

Phantom stock grant 1,977.4 units Grant on June 29, 2026

Total phantom stock after grant 39,343.3 units Holdings following transaction

Dividend reinvestment units 697.59 units Accumulated since last report

Grant price per unit $0.00 per unit Compensation award, no purchase cost

Key Terms

Phantom Stock, Supplemental Retirement Plan, dividend reinvestment

3 terms

Phantom Stock financial

"Each share of Phantom Stock is the economic equivalent of one share of issuer common stock."

A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.

Supplemental Retirement Plan financial

"payable in cash from the Company's Supplemental Retirement Plan upon reporting person's retirement"

An extra retirement savings arrangement offered in addition to a company’s primary pension or retirement plan, designed to boost an employee’s income after leaving the workforce; it can be funded by the employer, the employee, or both and sometimes targets higher-paid staff. Investors care because these plans can create future cash obligations or influence payroll costs and employee retention—think of it as a second savings jar a company keeps for workers’ later years.

dividend reinvestment financial

"Includes 697.59 shares acquired through dividend reinvestment since the reporting person's last report."

Dividend reinvestment is when the money earned from a company's profit sharing, called dividends, is automatically used to buy more shares of that company instead of being received as cash. This process helps investors grow their holdings over time without extra effort, much like using earned interest to buy more of a savings account. It encourages long-term investment growth by continuously increasing the amount of shares owned.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Campbell's Co (CPB) report for Howard M. Averill?

Campbell's Co reported that director Howard M. Averill received 1,977.4 phantom stock units as a compensation award. The units are fully vested, cost him nothing, and increase his total phantom stock balance to 39,343.3 units tied to future cash payment.

What is phantom stock in the Campbell's Co (CPB) Form 4 filing?

In this filing, phantom stock represents units economically equivalent to Campbell's common shares. They do not deliver actual stock but track share value, with the cash value payable later from the Supplemental Retirement Plan when the director’s service ends.

How many phantom stock units does Howard M. Averill hold after this Campbell's Co (CPB) grant?

After the June 29, 2026 grant of 1,977.4 phantom stock units, Howard M. Averill holds 39,343.3 phantom stock units. This total includes 697.59 units that were accumulated through dividend reinvestment since his last reported holdings.

Does the Campbell's Co (CPB) phantom stock grant involve open-market buying or selling?

No, the phantom stock grant is a compensation-related award, not an open-market trade. The director did not buy or sell Campbell's shares; instead, he received 1,977.4 phantom stock units at no cost as part of his benefit arrangements.

When will the Campbell's Co (CPB) phantom stock be paid to Howard M. Averill?

According to the filing, the value of the phantom stock will be paid in cash from Campbell's Supplemental Retirement Plan. Payment occurs upon Howard M. Averill’s retirement, resignation, or termination of service, rather than immediately at the time of the grant.

How were dividend reinvestments reflected in Howard M. Averill’s Campbell's Co (CPB) phantom stock holdings?

The filing notes that his total phantom stock balance includes 697.59 units gained through dividend reinvestment. These additional units accumulated automatically since his last report, increasing the value of his deferred compensation position over time.

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

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Accepted by SEC EDGAR 06/30/2026 - 04:06 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^*

Averill Howard M

(Last) (First) (Middle)

1 CAMPBELL PLACE

(Street)

CAMDEN NEW JERSEY 08103

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/29/2026

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

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
Phantom Stock	(1)	06/29/2026		A		1,977.4		(2)	(3)	Common Stock	1,977.4	$0	39,343.3(4)	D

Explanation of Responses:

1. Each share of Phantom Stock is the economic equivalent of one share of issuer common stock.

2. Phantom shares are fully vested.

3. The value of Phantom Stock is payable in cash from the Company's Supplemental Retirement Plan upon reporting person's retirement, resignation or termination.

4. Includes 697.59 shares acquired through dividend reinvestment since the reporting person's last report.

Remarks:

	Marci K. Donnelly, Attorney-in-Fact	06/30/2026
	** 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)