Campbell's (CPB) Insider Filing: Bennett Reports 1,325-Share Increase

Rhea-AI Filing Summary

Campbell's Co (CPB) director Bennett Dorrance Jr. reported an acquisition of 1,325 shares on 09/25/2025 at a reported price of $0, increasing his indirect beneficial ownership to 568,969 shares held in the Bennett Dorrance, Jr. Trust. The Form 4 was signed by an attorney-in-fact on 09/26/2025. No derivative transactions or dispositions are reported.

Positive

• Acquisition reported: Director acquired 1,325 shares, increasing his stake to 568,969 shares indirectly.
• Timely disclosure: Form 4 filed and signed by attorney-in-fact on 09/26/2025, meeting reporting procedure.

Negative

• None.

Insights

Financial Analyst

TL;DR: Small insider purchase reported by a director; increases indirect stake to 568,969 shares.

The filing shows a non-derivative acquisition of 1,325 common shares by a long-standing director, recorded at a $0 price which typically indicates a gift, grant, or transfer rather than a market purchase; the filing itself does not specify the nature of the transfer. The director's indirect ownership via a named trust totals 568,969 shares after the transaction, which is material to ownership disclosure but not necessarily material to company valuation given the lack of price or context.

Corporate Governance Expert

TL;DR: Routine Section 16 disclosure reflecting a trust-held position and a small additional allocation.

The Form 4 meets reporting requirements by disclosing the change in beneficial ownership and the ownership form as indirect via the Bennett Dorrance, Jr. Trust. The $0 price is explicitly reported; the form contains no explanatory remarks. From a governance perspective this is a standard insider reporting event with no indicated change in control or governance role.

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

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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^*

Dorrance Bennett JR

(Last) (First) (Middle)

1 CAMPBELL PLACE

(Street)

CAMDEN NJ 08103

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/25/2025

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	09/25/2025		A		1,325	A	$0	568,969	I	Bennett Dorrance, Jr. Trust

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:

Remarks:

	Marci K. Donnelly, Attorney-in-Fact	09/26/2025
	** 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 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 did CPB director Bennett Dorrance Jr. report on Form 4?

He reported acquiring 1,325 common shares on 09/25/2025, with indirect beneficial ownership totaling 568,969 shares via the Bennett Dorrance, Jr. Trust.

What price was reported for the shares in the CPB Form 4?

The reported price is $0, as stated on the form.

Was any derivative transaction reported in this Form 4 for CPB?

No derivative securities or options were reported; only a non-derivative common stock acquisition is shown.

Who signed the Form 4 for the reporting person?

Marci K. Donnelly, Attorney-in-Fact signed the Form 4 on 09/26/2025.

Does the Form 4 explain why the price is $0?

No—the filing contains no explanation or remarks describing the $0 price or the nature of the transfer.