Fresh Del Monte (NYSE: FDP) SVP converts stock units into Ordinary Shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Fresh Del Monte Produce SVP Jorge Pelaez Reyes increased his direct equity stake through equity award conversions. On 2026-03-03, he acquired 79.2586 Dividend Equivalent Units, 1,100 Restricted Stock Units and 1,100 Performance Stock Units through exercises of derivative securities at a stated price of $0.0000 per unit. Related non-derivative entries show 1,100 Ordinary Shares in two transactions and 79 Ordinary Shares added, bringing his directly held Ordinary Shares to 7,460. RSUs and PSUs convert into Ordinary Shares on a one-for-one basis and generally vest in three equal annual installments once performance and service conditions are met.
Positive
- None.
Negative
- None.
Insider Trade Summary
2,279.259 shares exercised/converted
Mixed
12 txns
Insider
Pelaez Reyes Jorge
Role
SVP, Central America
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Dividend Equivalent Units | 79.259 | $0.00 | -- |
| Exercise | Restricted Stock Units | 1,100 | $0.00 | -- |
| Exercise | Performance Stock Units | 1,100 | $0.00 | -- |
| Exercise | Ordinary Shares | 1,100 | $0.00 | -- |
| Exercise | Ordinary Shares | 1,100 | $0.00 | -- |
| Exercise | Ordinary Shares | 79 | $0.00 | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Performance Stock Units | -- | -- | -- |
| holding | Performance Stock Units | -- | -- | -- |
| holding | Performance Stock Units | -- | -- | -- |
| holding | Performance Stock Units | -- | -- | -- |
| holding | Performance Stock Units | -- | -- | -- |
Holdings After Transaction:
Dividend Equivalent Units — 1,521.793 shares (Direct);
Restricted Stock Units — 2,203 shares (Direct);
Performance Stock Units — 2,203 shares (Direct);
Ordinary Shares — 6,281 shares (Direct)
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. Each DEU represents 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-for-one basis. The RSUs were awarded on 3/3/2025 and vested 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 3/2/2027, 3/2/2028 and 3/2/2029. The PSUs convert to Ordinary Shares on a one-for-one basis. The PSUs were awarded on 2/20/2019 subject to meeting the minimum performance criteria which was met at 100%. The PSUs vested in three equal annual installments on each of 2/20/2020, 2/20/2021 and 2/20/2022. PSUs and associated DEUs will settle on the six-month anniversary after termination. The PSUs were awarded on 3/2/2020 subject to meeting minimum performance criteria which was met at 83%. The PSUs vested in three equal annual installments on each of 3/1/2021, 3/1/2022 and 3/1/2023. PSUs and associated DEUs will settle on the six-month anniversary after termination of employment. The PSUs were awarded on 3/1/2021 subject to meeting minimum performance criteria which was met at 91%. The PSUs vested in three equal annual installments on each of 3/1/2022, 3/1/2023 and 3/1/2024. PSUs and associated DEUs will settle on the six-month anniversary after termination of employment. The PSUs were awarded on 3/1/2024 subject to meeting minimum performance criteria which was met at 100%. The PSUs vest in three equal annual installments. The remaining vesting will occur on 3/1/2027. The PSUs were awarded on 3/3/2025 subject to meeting minimum performance criteria which was met at 100%. The PSUs vest in three equal annual installments. The remaining vesting will occur on 3/3/2027 and 3/3/2028. The PSUs were awarded on 3/2/2026 and are earned subject to meeting minimum performance criteria. Once earned, the PSUs vest in three equal annual installments on each of 3/2/2027, 3/2/2028 and 3/2/2029.
FAQ
What did FDP executive Jorge Pelaez Reyes report on this Form 4?
He reported acquiring additional equity in Fresh Del Monte Produce (FDP) through exercises of stock-based awards. These included Dividend Equivalent Units, Restricted Stock Units, Performance Stock Units, and related Ordinary Shares, all recorded on March 3, 2026 at a stated price of $0.0000.
What equity awards were converted or exercised by the FDP SVP on March 3, 2026?
On March 3, 2026, he exercised or converted 79.2586 Dividend Equivalent Units, 1,100 Restricted Stock Units, and 1,100 Performance Stock Units. Footnotes state RSUs and PSUs convert to Ordinary Shares on a one-for-one basis when vesting and performance conditions are satisfied.
How do Dividend Equivalent Units work for FDP’s RSUs and PSUs?
Each Dividend Equivalent Unit (DEU) represents a contingent right to receive one Ordinary Share of FDP. DEUs follow the same restrictions, vesting, and performance criteria as the underlying Restricted Stock Units and Performance Stock Units to which they relate, according to the footnotes.
What are the vesting terms for the recent FDP RSU and PSU awards mentioned?
One RSU grant awarded on March 3, 2025 vests in three equal installments, with remaining vestings on March 3, 2027 and March 3, 2028. Another RSU and a PSU grant awarded on March 2, 2026 also vest in three equal annual installments through March 2, 2029.
Were performance conditions met for the older Fresh Del Monte PSUs held by this executive?
Yes. Footnotes state various PSU awards from 2019–2025 met minimum performance criteria at levels from 83% to 100%. These PSUs vested in three equal annual installments, with settlement of some PSUs and related DEUs occurring after employment termination.