Campbell Co (NYSE: CPB) trust records 26.7M-share stock transaction

Rhea-AI Filing Summary

Amendment & Restatement of the Mary Alice Dorrance Malone Revocable Trust, identified as a former 10% owner of Campbell's Co, reported a large change in its direct holdings of the company’s common stock. On January 6, 2026, the trust recorded a transaction in 26,741,880 shares of Campbell common stock at $27.01 per share, after which it directly held 13,218,457 shares.

The filing also lists indirect holdings of Campbell common stock through Contango Limited LP and Quizhou, LP. According to the footnote, the reporting person only has an indirect pecuniary interest in portions of the shares held by these entities, has no voting or dispositive power over them, and disclaims beneficial ownership beyond its pecuniary interest.

Insights

Corporate governance and insider-transactions analyst

Large trust-related share movement reported, with neutral governance implications.

This filing shows a trust associated with the Dorrance family structure, described as a former 10% owner, reporting a substantial transaction involving 26,741,880 Campbell common shares at $27.01 on January 6, 2026. After the transaction, the trust’s direct holdings stood at 13,218,457 shares, indicating a significant change in directly held stock but without stating the percentage of the company this represents.

The filing also details indirect positions via Contango Limited LP and Quizhou, LP. The footnote explains that the reporting person has only an indirect pecuniary interest in portions of those positions, with no voting or dispositive power, and explicitly disclaims beneficial ownership beyond its economic interest. The overall picture is of a large but structured ownership adjustment, with governance influence primarily tied to the remaining direct stake and not to the LP-held shares as described.

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

X

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^*

Amendment & Restatement of Agreement of Trust of Mary Alice Dorrance Malone dated April 17, 1990

(Last) (First) (Middle)

605 MAIN STREET

SUITE 212

(Street)

RIVERTON NJ 08077

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
01/06/2026

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	01/06/2026		J		26,741,880	D	$27.01	13,218,457	D
Common Stock								17,155,837	I	Contango Limited LP(1)
Common Stock								3,397,177	I	Quizhou, LP(1)

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:

1. Reporting Person holds indirect pecuniary interest in a portion of the 18,426,809 shares of the Issuer held by Contango, LP and in a portion of the 4,271,414 shares of the Issuer held by Quizhou, LP. Reporting Person has no voting power or dispositive power over these entities, and disclaims beneficial ownership in the shares held by Contango and Quizhou, except to the extent of its pecuniary interest therein.

	/s/ Catherine D. Malone, as Trustee of the Mary Alice Dorrance Malone Revocable Trust	01/08/2026
	** 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.

FAQ

What insider transaction did CPB report in this Form 4?

The filing reports that the Amendment & Restatement of the Mary Alice Dorrance Malone Revocable Trust recorded a transaction involving 26,741,880 shares of Campbell common stock at $27.01 per share on January 6, 2026, leaving 13,218,457 shares directly held afterward.

Who is the reporting person in Campbell Soup (CPB) Form 4?

The reporting person is the Amendment & Restatement of Agreement of Trust of Mary Alice Dorrance Malone dated April 17, 1990, identified in the relationship section as an "Other (Former 10% Owner)" of Campbell's Co.

How many Campbell (CPB) shares does the trust directly hold after the transaction?

Following the reported transaction on January 6, 2026, the trust directly holds 13,218,457 shares of Campbell common stock, as shown in the Form 4 table for non-derivative securities.

What does the Form 4 say about indirect Campbell (CPB) holdings via Contango Limited LP and Quizhou, LP?

The Form 4 lists indirect holdings of Campbell common stock through Contango Limited LP and Quizhou, LP, and the footnote states the reporting person holds only an indirect pecuniary interest in portions of those shares, with no voting or dispositive power and a disclaimer of beneficial ownership beyond that economic interest.

What is transaction code J in this Campbell (CPB) Form 4 filing?

The non-derivative transaction in Campbell common stock is labeled with transaction code "J", which in Form 4 reporting denotes an "other" type of transaction rather than a straightforward open-market buy or sell.

Does this CPB Form 4 indicate that the reporting person is still a 10% owner?

No. In the relationship section, the reporting person is categorized as "Other (Former 10% Owner)", indicating it is no longer reported in the 10% owner category.