[Form 4] CAMPBELL'S Co Insider Trading Activity

Rhea-AI Filing Summary

Archbold D. vanBeuren, a director of Campbell's Co (CPB), reported an acquisition of 1,403 shares of Common Stock on 09/25/2025 pursuant to Form 4. The reported transaction code is A and the reported price per share is shown as $0. Following the transaction, the filing shows the reporting person has a total beneficial interest of 603,435 shares, held indirectly through multiple vehicles including the ADvB Revocable Trust (437,692 shares), ADvB 2016 GRAT (2,857 shares), a family management company (3,944 shares), vBManagers family management company (180,000 shares), and other indirect holdings. The filing includes standard disclaimers that the reporting person disclaims beneficial ownership of certain shares except to the extent of a pecuniary interest. The Form 4 is signed by Marci K. Donnelly, Attorney-in-Fact, dated 09/26/2025.

Positive

• Reported acquisition of 1,403 common shares on 09/25/2025, documented on Form 4
• Total reported beneficial interest of 603,435 shares disclosed, with breakdown across trusts and family entities
• Disclosure includes detailed indirect ownership lines and disclaimers, supporting transparency for Section 16 reporting

Negative

• None.

Insights

Financial Analyst

TL;DR: Small reported acquisition amid substantial indirect holdings; no financial details to assess impact.

The filing documents a reported acquisition of 1,403 common shares at a recorded price of $0 on 09/25/2025, which may reflect a transfer, gift, or administrative allocation rather than a market purchase, but the form contains no explanatory detail. The reporting person retains a large aggregate indirect interest of 603,435 shares across trusts and family entities, which represents the material ownership context for this disclosure. There are no transaction proceeds, options, or derivative positions reported that would affect dilution or near-term liquidity.

Corporate Governance Expert

TL;DR: Routine Section 16 disclosure showing director's indirect holdings and a small acquisition; contains standard disclaimers.

The Form 4 follows Section 16 reporting conventions, listing multiple indirect ownership vehicles and explicit disclaimers of beneficial ownership for certain trusts and family entities. The use of transaction code "A" with a $0 price is disclosed but unexplained on the face of the form; the signature by an attorney-in-fact on 09/26/2025 completes the filing formalities. From a governance perspective, the filing documents continued insider linkage to company shares but does not reveal changes to control or governance arrangements.

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
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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).

1. Name and Address of Reporting Person^*

vanBeuren Archbold D

(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		1,403	A	$0	603,435	I	ADvB Revocable Trust
Common Stock								437,692	I	ADvB 2016 GRAT
Common Stock								2,857	I	Family management company(1)
Common Stock								3,944	I	Family management company(2)
Common Stock								180,000	I	Spousal Trust(3)

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:

1. 1. ABANCO Management Corp. ("AMC") is a family management company that owns Common Stock. The Reporting Person owns a fractional interest in AMC and the shares reported on this line represent the shares in which the Reporting Person has a pecuniary interest, based on his fractional ownership of AMC. The Reporting Person disclaims beneficial ownership of the securities held by AMC except to the extent of his pecuniary interest therein.

2. vBManagers, LLC (vBManagers) is a family management company that owns Common Stock. The reporting person owns a fractional interest in vBManagers and the shares reported on this line represent the shares in which the reporting person has a pecuniary interest, based on his fractional ownership of vBManagers. The reporting person disclaims beneficial ownership of the securities held by vBManagers except to the extent of his pecuniary interest therein.

3. The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.

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 Archbold D. vanBeuren report on the Form 4 for CPB?

The Form 4 reports an acquisition of 1,403 common shares on 09/25/2025, with a reported price of $0, and shows total beneficial interest of 603,435 shares held indirectly.

How are the 603,435 shares held according to the filing?

The filing lists indirect holdings including the ADvB Revocable Trust (437,692 shares), vBManagers family management company (180,000 shares), ADvB 2016 GRAT (2,857 shares), and a family management company (3,944 shares).

What does the reported price of $0 mean on the Form 4?

The Form shows a price of $0 for the acquisition but provides no explanatory detail in the filing about the nature of that transfer; the form itself does not explain the reason for a zero price.

Who signed the Form 4 and when was it filed?

The Form 4 is signed by Marci K. Donnelly, Attorney-in-Fact, dated 09/26/2025.

Does the filing show any derivative securities or dispositions?

No derivative securities or dispositions are reported in Table II; only the non-derivative acquisition is listed in Table I.