Campbell's director awarded 2,023 phantom units

Campbell's Co director Marc Bradley Lautenbach received a grant of 2,023.22 shares of Phantom Stock, each economically equivalent to one share of common stock.

Rhea-AI Filing Summary

Campbell's Co director Marc Bradley Lautenbach received a grant of 2,023.22 shares of Phantom Stock, each economically equivalent to one share of common stock. These phantom shares are fully vested and their value is payable in cash from the Company’s Supplemental Retirement Plan upon his retirement, resignation or termination. Following this award, he holds 45,931.83 phantom stock shares, which includes 613.34 shares acquired through dividend reinvestment since his last report.

Insider Trade Summary

Grant/Award: 2,023.22 shares

Grant/Award 1 txn

Insider Lautenbach Marc Bradley

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	2,023.22	$0.00	$0.00

Holdings After Transaction: Phantom Stock — 45,931.83 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 613.34 shares acquired through dividend reinvestment since the reporting person's last report.

Key Figures

Phantom stock grant: 2,023.22 shares Total phantom holdings: 45,931.83 shares Dividend reinvestment: 613.34 shares +1 more

4 metrics

Phantom stock grant 2,023.22 shares Grant of Phantom Stock to director on 2026-03-30

Total phantom holdings 45,931.83 shares Phantom Stock held after the reported transaction

Dividend reinvestment 613.34 shares Phantom Stock acquired through dividend reinvestment since last report

Grant price $0.0000 per share Stated transaction price for Phantom Stock grant

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 613.34 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 insider transaction did Campbell's Co (CPB) report for Marc Bradley Lautenbach?

Campbell's Co reported that director Marc Bradley Lautenbach received a grant of 2,023.22 shares of Phantom Stock. This award increases his total phantom stock holdings to 45,931.83 shares, reflecting equity-linked compensation tied economically to Campbell’s common stock.

What is the Phantom Stock granted to Campbell's Co (CPB) director Marc Lautenbach?

The Phantom Stock grant to Marc Lautenbach totals 2,023.22 shares, each equal in economic value to one Campbell’s common share. Instead of actual shares, the value is settled in cash under the Company’s Supplemental Retirement Plan at retirement, resignation or termination.

How many Phantom Stock shares does Marc Lautenbach hold after this Campbell's Co (CPB) Form 4?

After the latest grant, Marc Lautenbach holds 45,931.83 shares of Phantom Stock. This total reflects the new 2,023.22-share award plus prior phantom holdings, including 613.34 shares accumulated through dividend reinvestment since his previous ownership report.

When will Marc Lautenbach receive cash for his Campbell's Co (CPB) Phantom Stock?

The value of Marc Lautenbach’s Phantom Stock will be paid in cash from Campbell’s Supplemental Retirement Plan. Payment occurs upon his retirement, resignation, or termination, aligning the deferred compensation with his eventual separation from the company.

What does dividend reinvestment mean in Marc Lautenbach’s Campbell's Co (CPB) Phantom Stock holdings?

The Form 4 notes that 613.34 Phantom Stock shares were acquired through dividend reinvestment. This means dividends credited on prior phantom units were automatically reinvested into additional phantom shares, increasing his total economic exposure to Campbell’s common stock.

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

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Accepted by SEC EDGAR 03/31/2026 - 04:24 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^*

Lautenbach Marc Bradley

(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)
			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)	03/30/2026		A		2,023.22		(2)	(3)	Common Stock	2,023.22	$0	45,931.83(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 613.34 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)