Campbell's director awarded phantom stock units

Campbell's Co director Sarah Hofstetter reported a grant of 1,882.32 units of Phantom Stock, each economically equivalent to one share of common stock.

Accepted by SEC EDGAR 03/31/2026 - 04:23 PM EDT

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Rhea-AI Filing Summary

Campbell's Co director Sarah Hofstetter reported a grant of 1,882.32 units of Phantom Stock, each economically equivalent to one share of common stock. The phantom shares are fully vested and payable in cash from the Company's Supplemental Retirement Plan upon her retirement, resignation or termination.

After this award, she holds 31,452.28 Phantom Stock units, including 413.05 units acquired through dividend reinvestment since her last report.

Insider Trade Summary

Grant/Award: 1,882.32 shares

Grant/Award 1 txn

Insider Hofstetter Sarah

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	1,882.32	$0.00	$0.00

Holdings After Transaction: Phantom Stock — 31,452.28 contracts (Direct)

Holdings Before and After: Phantom Stock, 29,569.96 to 31,452.28 contracts (Direct)

Footnotes (4)

F1. Each share of Phantom Stock is the economic equivalent of one share of issuer common stock.
F2. Phantom shares are fully vested.
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.
F4. Includes 413.05 shares acquired through dividend reinvestment since the reporting person's last report.

Key Figures

Phantom Stock grant: 1,882.32 units Total Phantom Stock after transaction: 31,452.28 units Dividend reinvestment units: 413.05 units +2 more

5 metrics

Phantom Stock grant 1,882.32 units Grant, award, or other acquisition on 2026-03-30

Total Phantom Stock after transaction 31,452.28 units Director’s Phantom Stock holdings following the award

Dividend reinvestment units 413.05 units Phantom Stock acquired through dividend reinvestment since last report

Economic equivalence 1 unit = 1 share Each Phantom Stock unit equals one share of common stock economically

Exercise price $0.00 per unit Phantom Stock grant carries no exercise or purchase price

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, 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 413.05 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

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What did CPB director Sarah Hofstetter report in this Form 4 filing?

She reported receiving 1,882.32 Phantom Stock units, a form of cash-settled incentive tied to Campbell's common stock. These units are fully vested and increase her total Phantom Stock holdings to 31,452.28 units, reflecting ongoing compensation and dividend reinvestment activity.

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

Phantom Stock in this filing represents units whose value mirrors Campbell's common stock, but are paid in cash instead of actual shares. Each unit equals one share economically, providing stock-like incentives while remaining part of the Company’s Supplemental Retirement Plan obligations.

How many Phantom Stock units does Sarah Hofstetter hold after this transaction?

After the grant, she holds 31,452.28 Phantom Stock units linked to Campbell's common stock. This total includes the newly awarded 1,882.32 units and 413.05 units accumulated through dividend reinvestment since her prior report, reflecting growth in her deferred compensation balance.

How and when will the Campbell's (CPB) Phantom Stock be paid to the director?

The Phantom Stock value will be paid in cash from Campbell's Supplemental Retirement Plan. Payment occurs upon Sarah Hofstetter’s retirement, resignation, or termination, aligning the benefit with her eventual departure rather than immediate share delivery or open-market activity.

Does the Phantom Stock grant to the Campbell's director involve an open-market stock purchase?

No, the grant is a compensation award, not an open-market purchase of Campbell's shares. The 1,882.32 Phantom Stock units are book-entry obligations payable in cash, designed to track the value of common stock without creating immediate trading activity in the market.

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

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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^*

Hofstetter Sarah

(Last)

(First)

(Middle)

ONE 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)
03/30/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Phantom Stock	⁽¹⁾	03/30/2026		A		1,882.32		⁽²⁾	⁽³⁾	Common Stock	1,882.32	$0	31,452.28⁽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 413.05 shares acquired through dividend reinvestment since the reporting person's last report.

Remarks:

	Marci K. Donnelly, Attorney-in-Fact	03/31/2026
	** 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)

Source: View Original Filing on SEC EDGAR