Campbell's director acquires 2,349 phantom shares

The phantom shares are fully vested, with value payable in cash upon the director's retirement, resignation or termination.

Rhea-AI Filing Summary

Campbell's Co director Howard M. Averill acquired 2,348.99 Phantom Stock shares on September 25, 2026. The phantom shares are fully vested, and each is the economic equivalent of one share of the company's common stock. Their value is payable in cash from the company's Supplemental Retirement Plan upon Averill's retirement, resignation or termination. His reported post-transaction Phantom Stock balance was 42,378.20 shares.

Insider Trade Summary

Grant/Award: 2,348.99 shares

Grant/Award 1 txn

Insider Averill Howard M

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock F1, F2, F3, F4	2,348.99	$0.00	$0.00

Holdings After Transaction: Phantom Stock — 42,378.2 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 $685.91 shares acquired through dividend reinvestment since the reporting person's last report.

Key Figures

Phantom Stock acquired: 2,348.99 shares Common-stock equivalent: 2,348.99 shares Post-transaction Phantom Stock balance: 42,378.20 shares

3 metrics

Phantom Stock acquired 2,348.99 shares September 25, 2026

Common-stock equivalent 2,348.99 shares Each Phantom Stock share is the economic equivalent of one common share

Post-transaction Phantom Stock balance 42,378.20 shares Howard M. Averill's reported direct holdings

Key Terms

Phantom Stock, fully vested, Supplemental Retirement Plan, dividend reinvestment

4 terms

Phantom Stock financial

"Each share of Phantom Stock is the economic equivalent of one share"

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.

fully vested financial

"Phantom shares are fully vested"

Supplemental Retirement Plan financial

"payable in cash from the Company's Supplemental Retirement Plan"

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

"shares acquired through dividend reinvestment"

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.

How many Phantom Stock shares did CPB director Howard M. Averill acquire?

Howard M. Averill acquired 2,348.99 Phantom Stock shares on September 25, 2026. Each share is the economic equivalent of one share of Campbell's Co common stock.

Were Howard M. Averill's CPB Phantom Stock shares vested?

The Phantom Stock shares were fully vested. Their value is payable in cash from the company's Supplemental Retirement Plan upon Averill's retirement, resignation or termination.

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

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Available on EDGAR 09/28/2026 - 04:03 PM Accepted by SEC EDGAR 09/28/2026 - 04:03 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)
09/25/2026

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)	09/25/2026		A		2,348.99		(2)	(3)	Common Stock	2,348.99	$0	42,378.2(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 $685.91 shares acquired through dividend reinvestment since the reporting person's last report.

Remarks:

	Marci K. Donnelly, Attorney-in-Fact	09/28/2026
	** 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)