General Mills (NYSE: GIS) director defers retainer into stock units

Rhea-AI Filing Summary

ODLAND STEPHEN A reported acquisition or exercise transactions in this Form 4 filing.

General Mills director Stephen A. Odland received a grant of 742 phantom stock units tied to General Mills common stock. These units reflect the director’s decision to defer a cash retainer into common stock units under the Deferred Compensation Plan for Non-Employee Directors.

Each common stock unit represents the right to receive the cash value of one share of General Mills common stock and is payable in cash at the end of the deferral period. After this award, Odland holds a total of 54,271.504 phantom stock units.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider ODLAND STEPHEN A

Role null

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	742	$33.65	$25K

Holdings After Transaction: Phantom Stock — 54,271.504 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Phantom stock units granted: 742 units Phantom unit reference price: $33.65 per unit Total phantom units after grant: 54,271.504 units +2 more

5 metrics

Phantom stock units granted 742 units Grant/award acquisition on 2026-05-31

Phantom unit reference price $33.65 per unit Transaction price per phantom stock unit

Total phantom units after grant 54,271.504 units Holdings following transaction

Underlying common stock 742 shares Underlying security shares for granted phantom units

Conversion price $0.00 Conversion or exercise price per phantom unit

Key Terms

Phantom Stock, Deferred Compensation Plan for Non-Employee Directors, common stock units

3 terms

Phantom Stock financial

"security_title: Phantom Stock"

A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.

Deferred Compensation Plan for Non-Employee Directors financial

"under the Deferred Compensation Plan for Non-Employee Directors into common stock units"

common stock units financial

"deferred the receipt of a cash retainer ... into common stock units"

A common stock unit is a tradable ownership interest that represents one or more ordinary shares in a company, giving the holder a stake in profits, a claim on assets after creditors, and usually voting rights on corporate matters. For investors it matters because these units determine how much of the company you own, how much influence you have, and how returns or losses are shared—think of owning slices of a pie that can be increased or diluted by the company’s actions.

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Form 4 Insider Transactions: What Each Field Means →

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^*

ODLAND STEPHEN A

(Last) (First) (Middle)

NUMBER ONE GENERAL MILLS BOULEVARD

(Street)

MINNEAPOLIS MINNESOTA 55426

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/31/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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

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 Stock	(1)	05/31/2026		A		742		(1)	(1)	Common Stock	742	$33.65	54,271.504	D

Explanation of Responses:

1. Each common stock unit represents the right to receive the cash value of one share of General Mills, Inc. common stock. The reporting person deferred the receipt of a cash retainer under the Deferred Compensation Plan for Non-Employee Directors into common stock units, which are payable in cash at the end of the deferral period. The reporting person may transfer their common stock unit investment into an alternative investment at any time.

	By: Christopher A. Rauschl For: Stephen Odland	06/02/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What did General Mills (GIS) director Stephen A. Odland report in this Form 4?

Stephen A. Odland reported receiving 742 phantom stock units linked to General Mills common stock. These units result from deferring a cash director retainer into stock-based compensation under the company’s Deferred Compensation Plan for Non-Employee Directors.

How do the General Mills (GIS) phantom stock units work for the director?

Each phantom stock unit equals the cash value of one General Mills common share. The units are settled in cash at the end of the deferral period, giving economic exposure to the stock without issuing actual shares or current voting rights.

How many General Mills (GIS) phantom stock units does the director hold after this award?

After this transaction, Stephen A. Odland holds 54,271.504 phantom stock units. This total reflects the newly awarded 742 units plus his pre-existing balance under the Deferred Compensation Plan for Non-Employee Directors at General Mills.

Was this General Mills (GIS) Form 4 a market purchase or sale of stock?

No, this Form 4 reflects a grant of phantom stock units, not an open-market trade. The director deferred a cash retainer into stock-based units, which will be settled in cash later rather than through buying or selling common shares.

What plan governs the General Mills (GIS) phantom stock units for this director?

The phantom stock units are issued under the Deferred Compensation Plan for Non-Employee Directors. This plan lets directors defer cash retainers into common stock units, providing stock-linked economic exposure with cash settlement at the end of the chosen deferral period.