General Mills Segment President granted 22.9k options, boosts stake

Rhea-AI Filing Summary

General Mills, Inc. (GIS) Form 4 highlights insider activity dated 06/30/2025. Segment President Ricardo Fernandez received routine equity compensation consisting of (1) 4,585 shares of common stock issued at no cost (Transaction Code A) and (2) 22,921 non-qualified stock options with a strike price of $51.81. To cover tax withholding, 218 shares were automatically disposed at the same $51.81 price (Code F).

Following the transactions, Fernandez’s direct share ownership stands at 69,542.685 shares, while his newly granted options vest in four equal annual tranches starting 06/30/2026 and expire 07/30/2035. The filing represents standard executive incentive alignment rather than an open-market purchase or sale, producing no material effect on the company’s capital structure but modestly increasing insider equity exposure.

Positive

• Net increase of 4,367 direct shares indicates executive’s growing equity stake, aligning interests with shareholders.
• 22,921 option grant vests over four years, promoting long-term performance and retention.

Negative

• None.

Insights

Securities Analyst

TL;DR – Routine grant; insider gains 4.4k net shares and 22.9k options, signaling alignment but limited market impact.

The Form 4 reflects scheduled long-term incentive awards typical for senior executives at large-cap firms. The lack of open-market buying or selling means the action is compensation-driven, not valuation-driven. Fernandez’s direct stake rises 4,367 shares net (≈$226k at $51.81), taking his total direct holding to ~$3.6 million. Option quantity represents ~0.004% of outstanding shares—immaterial to dilution. Overall, neutral for GIS valuation but marginally positive for governance due to strengthened owner-manager alignment.

Corporate Governance Expert

TL;DR – Standard equity award enhances incentive linkage; no red flags detected.

The equity mix—restricted stock plus multi-year vesting options—follows prevailing best practices, encouraging retention and performance over four years. No accelerated vesting or atypical terms are disclosed. Automatic share withholding for taxes (Code F) is routine. Because the grant size is modest relative to GIS’s float and Fernandez’s role, the disclosure is not impactful for shareholders beyond demonstrating continued compliance with Section 16 reporting requirements.

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^*

Fernandez Ricardo

(Last) (First) (Middle)

NUMBER ONE GENERAL MILLS BOULEVARD

(Street)

MINNEAPOLIS MN 55426

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GENERAL MILLS INC [ GIS ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Segment President

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2025

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	06/30/2025		A		4,585	A	$0.0	69,760.685	D
Common Stock	06/30/2025		F		218	D	$51.81	69,542.685	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
Non-Qualified Stock Option (right to buy)	$51.81	06/30/2025		A		22,921		(1)	07/30/2035	Common Stock	22,921	$0.0	22,921	D

Explanation of Responses:

1. Option vests in four equal annual installments beginning on June 30, 2026.

	By: Christopher A. Rauschl For: Ricardo Fernandez	07/02/2025
	** 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

How many General Mills (GIS) shares did Ricardo Fernandez acquire on 06/30/2025?

He received 4,585 shares of common stock at no cost (Transaction Code A).

What shares were sold or withheld to cover taxes in this Form 4?

A total of 218 shares were automatically disposed at $51.81 per share (Code F).

How many stock options were granted and at what exercise price?

Fernandez received 22,921 non-qualified options with an exercise price of $51.81.

What is the vesting schedule for the newly granted options?

Options vest in four equal annual installments beginning 06/30/2026 and expire 07/30/2035.

What is Ricardo Fernandez’s total direct ownership after these transactions?

He directly owns 69,542.685 shares of General Mills common stock.

Does this Form 4 indicate any material impact on General Mills’ share count?

No. The grant represents a very small fraction of outstanding shares and is considered non-material.