Fresh Del Monte (NYSE: FDP) SVP logs tax-cover share sales and award vesting
Rhea-AI Filing Summary
Fresh Del Monte Produce SVP and CHRO Marissa R. Tenazas reported both stock sales and equity award vesting activity. On March 4, 2026, she sold a total of 1,969 Ordinary Shares of FDP at $42.28 per share in open-market transactions, with footnotes stating these shares were sold to cover withholding tax obligations related to vesting Restricted Stock Units (RSUs) and Performance Stock Units (PSUs).
On March 3, 2026, multiple derivative transactions show the exercise or conversion of RSUs, PSUs and Dividend Equivalent Units (DEUs) into Ordinary Shares at $0.00 per share, reflecting equity incentives converting on a one-to-one basis into stock. Footnotes explain that RSUs and PSUs generally vest in three equal annual installments, with various awards scheduled to vest through 2029, and that certain PSU awards met minimum performance criteria at 100%.
Positive
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Negative
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Insights
Routine tax-related sales alongside equity vesting; no clear thesis change.
The transactions show Marissa R. Tenazas, SVP and CHRO of Fresh Del Monte Produce, selling 1,969 Ordinary Shares at $42.28 per share. Footnotes specify these sales cover withholding tax obligations tied to RSU and PSU vesting, which is a common administrative mechanism rather than a discretionary portfolio move.
On the same dates, derivative entries record the exercise or conversion of RSUs, PSUs and DEUs at $0.00 per share into Ordinary Shares, reflecting equity awards delivering value. Footnotes describe one-to-one conversion and vesting schedules extending to 2029, with certain PSUs having met minimum performance criteria at 100%. Overall, these activities appear to be standard compensation and tax events, with limited direct implications for broader shareholders beyond modest share flow.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Ordinary Shares | 1,035 | $42.28 | $44K |
| Sale | Ordinary Shares | 934 | $42.28 | $39K |
| Exercise | Dividend Equivalent Units | 164.569 | $0.00 | -- |
| Exercise | Restricted Stock Units | 2,284 | $0.00 | -- |
| Exercise | Performance Stock Units | 2,284 | $0.00 | -- |
| Exercise | Ordinary Shares | 2,284 | $0.00 | -- |
| Exercise | Ordinary Shares | 2,284 | $0.00 | -- |
| Exercise | Ordinary Shares | 164 | $0.00 | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Performance Stock Units | -- | -- | -- |
| holding | Performance Stock Units | -- | -- | -- |
Footnotes (1)
- A fractional share of Dividend Equivalent Units ("DEUs") on the Restricted Stock Units ("RSUs") and Performance Stock Units ("PSUs") vesting was paid in cash. Represents shares sold to cover withholding tax obligations on the settlement of the vesting of the Reporting Person's RSUs. Represents shares sold to cover withholding tax obligations on the settlement of the vesting of the Reporting Person's PSUs. Each DEUs represent a contingent right to receive one ordinary share of FDP. DEUs are subject to the same restrictions and vesting and/or performance criteria based on the underlying RSUs and/or PSUs to which they relate. The RSUs convert to Ordinary Shares on a one-to-one basis. The RSUs were awarded on 3/3/2025 and vest in three equal installments over three years. The remaining vestings will occur on 3/3/2027 and 3/3/2028. The RSUs were awarded on 3/2/2026 and vest in three equal installments over three years. The vestings will occur on each of 3/1/2027, 3/1/2028 and 3/1/2029. The PSUs convert to Ordinary Shares on a one-to-one basis. The PSUs were awarded on 4/1/2024 subject to meeting the minimum performance criteria which was met at 100%. The PSUs vest in three equal annual installments. The remaining vestings will occur on 4/1/2026 and 4/1/2027. The PSUs were awarded on 3/3/2025 subject to meeting the minimum performance criteria which was met at 100%. The PSUs vest in three equal annual installments. The remaining vestings will occur on 3/3/2027 and 3/3/2028. The PSUs were awarded on 3/2/2026 and are earned subject to meeting the minimum performance criteria. Once earned, the PSUs vest in three equal annual installments on each 3/1/2027, 3/1/2028 and 3/1/2029.
