[Form 4] FULLER H B CO Insider Trading Activity

Rhea-AI Filing Summary

Heather Campe, Senior Vice President, International Growth at Fuller H B Co (FUL), reported changes in her beneficial ownership on a Form 4 covering transactions with an earliest transaction date of 09/12/2025. The filing shows a disposition of 22,316.23 shares of common stock (noted as Code V) and the acquisition of 35.17 phantom units that convert to common stock, with an indicated price reference of $61.65 for underlying units. The report also lists multiple outstanding employee stock options (strike prices $51.89 to $77.72) totaling 83,479 option shares and restricted stock units that convert 1-for-1, with cumulative RSUs reported in the low thousands. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person.

Positive

• Continued equity alignment: reporting person retains substantial employee stock options and restricted stock units, indicating ongoing incentive alignment with shareholders.
• Clear vesting schedules: several option and RSU grants include explicit vesting (33%/33%/34%), supporting retention incentives.

Negative

• Disposition of marketable shares: reporting person sold 22,316.23 common shares on 09/12/2025, reducing direct share ownership.
• Potential near-term dilution: large outstanding option and RSU counts (tens of thousands of shares) may convert to common stock over time.

Insights

Financial Analyst

TL;DR: Insider sold 22,316.23 shares and continues to hold substantial option and RSU exposure, indicating ongoing equity-linked compensation alignment.

The disposition of 22,316.23 common shares on 09/12/2025 is the primary cash/ownership-changing transaction disclosed. Concurrently, the reporting person acquired 35.17 phantom units that convert to common stock and retains significant in-the-money and out-of-the-money employee stock options totaling tens of thousands of shares across multiple grant dates and strike prices. The mix of a cash/marketable share disposition along with continued holdings via options and RSUs suggests routine compensation-related activity rather than a complete exit. Impact is neutral-to-moderate for investors because the filing documents personal liquidity activity but confirms continued equity incentives.

Corporate Governance Expert

TL;DR: The filing documents standard executive equity transactions and ongoing incentive alignment through options and restricted units.

The Form 4 lists a sale (22,316.23 shares) and multiple outstanding equity awards with staggered vesting schedules and varying exercise prices, plus phantom units that convert 1-for-1. Vesting schedules are explicit for several grants (33%/33%/34% installments). The presence of vested options and scheduled vesting for newer grants indicates retention-focused compensation design. From a governance perspective, disclosures are complete and include an attorney-in-fact signature, meeting Form 4 formalities. Impact is neutral regarding control or governance shifts.

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^*

Campe Heather

(Last) (First) (Middle)

1200 WILLOW LAKE BOULEVARD

P.O. BOX 64683

(Street)

ST. PAUL MN 55164-0683

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
FULLER H B CO [ FUL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Sr. VP, International Growth

3. Date of Earliest Transaction (Month/Day/Year)
09/12/2025

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								22,316.23(1)	D

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 Units	$0.0000(2)	09/12/2025		A		35.17		(3)	(3)	Common Stock	35.17	$61.65	4,946.25(4)	D
Employee Stock Option (Right-to-Buy)	$51.89							01/27/2022(5)	01/27/2031	Common Stock	19,520		19,520	D
Employee Stock Option (Right-to-Buy)	$53.57							01/25/2019(5)	01/25/2028	Common Stock	21,834		21,834	D
Employee Stock Option (Right-to-Buy)	$64.28							01/27/2026(6)	01/27/2035	Common Stock	10,831		10,831	D
Employee Stock Option (Right-to-Buy)	$68.17							01/24/2024(6)	01/24/2033	Common Stock	10,730		10,730	D
Employee Stock Option (Right-to-Buy)	$72.94							01/24/2023(5)	01/24/2032	Common Stock	11,636		11,636	D
Employee Stock Option (Right-to-Buy)	$77.72							01/26/2025(6)	01/26/2034	Common Stock	9,928		9,928	D
Restricted Stock Units	$0.0000(7)							01/24/2024(8)	01/24/2026	Common Stock	623.89		623.89(9)	D
Restricted Stock Units	$0.0000(7)							01/26/2025(8)	01/26/2027	Common Stock	1,139.13		1,139.13(9)	D
Restricted Stock Units	$0.0000(7)							01/27/2026(8)	01/27/2028	Common Stock	1,918.46		1,918.46(9)	D

Explanation of Responses:

1. Amount includes shares acquired pursuant to a dividend reinvestment plan.

2. These units (acquired after 12-31-04) convert into shares of common stock on a 1-for-1 basis.

3. These units (acquired after 12-31-04) convert into shares of common stock upon the earlier of certain termination events as specified in the Key Employee Deferred Compensation Plan or such earlier date as selected by the participant, subject to holding periods required by law.

4. Amount includes stock units acquired pursuant to a dividend equivalent feature.

5. This option is 100% vested.

6. This option vests in three annual installments (33%, 33%, and 34%) beginning on the date shown.

7. These restricted stock units convert into shares of common stock on a 1-for-1 basis.

8. These restricted stock units vest in three annual installments (33%, 33%, and 34%) beginning on the date shown.

9. Amount includes restricted stock units acquired pursuant to a dividend equivalent reinvestment feature.

	/s/ Patrick J. Seul, Attorney-in-Fact	09/15/2025
	** 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.
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FAQ

What transactions did Heather Campe report on the Form 4 for FUL?

The Form 4 reports a disposition of 22,316.23 common shares and the acquisition of 35.17 phantom units that convert to common stock, with the earliest transaction date 09/12/2025.

How many stock options and restricted stock units does the Form 4 show for Heather Campe?

The filing lists multiple employee stock options summing to 83,479 option shares across several strike prices and RSUs totaling approximately 3,681.48 vested/converting units (reported per-line totals).

What are the exercise prices and expiration features of the options reported?

Exercise prices range from $51.89 to $77.72; some options are 100% vested while others vest in three annual installments (33%/33%/34%) with expiration dates shown by grant line.

When was the Form 4 signed and who signed it?

The Form 4 was signed on 09/15/2025 by /s/ Patrick J. Seul, Attorney-in-Fact for the reporting person.

Do the phantom units or RSUs convert to common stock 1-for-1?

Yes, the filing states the phantom units and restricted stock units convert into shares of common stock on a 1-for-1 basis under the plan descriptions in the explanation.