Campbell's director granted Phantom Stock units

Campbell's Co director Maria Teresa Hilado reported a grant of 1,963.82 shares of Phantom Stock, each economically equivalent to one share of Campbell's common stock.

Rhea-AI Filing Summary

Campbell's Co director Maria Teresa Hilado reported a grant of 1,963.82 shares of Phantom Stock, each economically equivalent to one share of Campbell's common stock. This award is fully vested and increases her Phantom Stock balance to 41,986.08 shares.

The Phantom Stock is payable in cash from the company’s Supplemental Retirement Plan upon her retirement, resignation or termination. The reported balance also includes 747.18 Phantom Stock shares that were acquired through dividend reinvestment since her prior report.

Insider Trade Summary

Grant/Award: 1,963.82 shares

Grant/Award 1 txn

Insider Hilado Maria Teresa

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	1,963.82	$0.00	$0.00

Holdings After Transaction: Phantom Stock — 41,986.08 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 747.18 shares acquired through dividend reinvestment since the reporting person's last report.

Key Figures

Phantom Stock grant: 1,963.82 shares Total Phantom Stock after grant: 41,986.08 shares Dividend reinvestment Phantom Stock: 747.18 shares +1 more

4 metrics

Phantom Stock grant 1,963.82 shares Grant of Phantom Stock on 2026-06-29

Total Phantom Stock after grant 41,986.08 shares Director’s Phantom Stock balance following transaction

Dividend reinvestment Phantom Stock 747.18 shares Phantom Stock acquired via dividend reinvestment since last report

Exercise price of Phantom Stock $0.00 per share Conversion or exercise price for Phantom Stock units

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

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

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 747.18 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 did Campbell's (CPB) director Maria Teresa Hilado report on this Form 4?

Maria Teresa Hilado reported receiving 1,963.82 Phantom Stock shares, fully vested and economically equivalent to common stock. After this grant and prior dividend reinvestments, her Phantom Stock balance rose to 41,986.08 shares under Campbell’s compensation arrangements.

What is Phantom Stock in Campbell's (CPB) director compensation?

Phantom Stock is a cash-settled award whose value mirrors Campbell’s common stock. Each Phantom Stock share is the economic equivalent of one common share, allowing directors to benefit from share price movements without receiving actual stock certificates or current voting rights.

When will Campbell's (CPB) pay the value of this Phantom Stock to the director?

The value of the Phantom Stock will be paid in cash from Campbell’s Supplemental Retirement Plan upon the director’s retirement, resignation, or termination. This makes the award a deferred compensation arrangement rather than an immediate cash or stock payout.

How many Phantom Stock shares does the Campbell's (CPB) director hold after this grant?

After this grant, the director holds 41,986.08 Phantom Stock shares. This total includes the new 1,963.82-share award plus 747.18 shares accumulated through dividend reinvestment since her last ownership report filed with regulators.

What does dividend reinvestment mean for Campbell's (CPB) Phantom Stock awards?

Dividend reinvestment means cash dividends that would be paid on equivalent common shares are instead converted into additional Phantom Stock units. In this case, 747.18 Phantom Stock shares were acquired through dividend reinvestment since the director’s previous ownership report.

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^*

Hilado Maria Teresa

(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		1,963.82		(2)	(3)	Common Stock	1,963.82	$0	41,986.08(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 747.18 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)