Hormel director granted 1,332.78 phantom stock units

Hormel Foods director Debbra L. Schoneman received an equity grant tied to her board service.

Rhea-AI Filing Summary

Hormel Foods director Debbra L. Schoneman received an equity grant tied to her board service. She acquired 1,332.78 phantom stock units of Hormel Foods common stock at a reference value of $22.65 per unit, increasing her directly held equivalent common stock balance to 15,819.78 shares.

Each phantom stock unit equals one share of common stock and is deferred under the Nonemployee Director Deferred Stock Subplan of the Hormel Foods Corporation 2026 Equity and Incentive Compensation Plan. These units are payable in common shares after she leaves the board, either in a lump sum or installments, with accelerated payout upon certain change in control events.

Insider Trade Summary

Grant/Award: 1,332.78 shares

Grant/Award 1 txn

Insider Schoneman Debbra L.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	1,332.78	$22.65	$30K

Holdings After Transaction: Common Stock — 15,819.78 shares (Direct)

Footnotes (1)

1. F1. Represents phantom stock units for deferrals under the Hormel Foods Corporation Nonemployee Director Deferred Stock Subplan pursuant to the Hormel Foods Corporation 2026 Equity and Incentive Compensation Plan (the "2026 Equity and Incentive Compensation Plan"). Each phantom stock unit is the equivalent of one share of common stock. The phantom stock units become payable in shares of common stock in one lump sum, or in up to ten annual installments, at the election of the Reporting Person, on February 15 of the year following termination of service as a director, or such later date as is elected by the Reporting Person. In addition, the phantom stock units become payable in shares of common stock in one lump sum immediately upon a director's separation from service within six months following a change in control (as defined in the 2026 Equity and Incentive Compensation Plan).

Key Figures

Phantom stock units granted: 1,332.78 units Reference value per unit: $22.65 per unit Shares after transaction: 15,819.78 shares

3 metrics

Phantom stock units granted 1,332.78 units Nonemployee Director Deferred Stock Subplan grant on 2026-03-31

Reference value per unit $22.65 per unit Common Stock equivalent value for the 2026-03-31 grant

Shares after transaction 15,819.78 shares Total directly held equivalent common stock following the grant

Key Terms

phantom stock units, Nonemployee Director Deferred Stock Subplan, 2026 Equity and Incentive Compensation Plan, change in control

4 terms

phantom stock units financial

"Represents phantom stock units for deferrals under the Hormel Foods Corporation Nonemployee Director Deferred Stock Subplan"

Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.

Nonemployee Director Deferred Stock Subplan financial

"for deferrals under the Hormel Foods Corporation Nonemployee Director Deferred Stock Subplan pursuant to the Hormel Foods Corporation 2026 Equity and Incentive Compensation Plan"

2026 Equity and Incentive Compensation Plan financial

"pursuant to the Hormel Foods Corporation 2026 Equity and Incentive Compensation Plan (the "2026 Equity and Incentive Compensation Plan")"

change in control financial

"immediately upon a director's separation from service within six months following a change in control"

A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Hormel Foods (HRL) director Debbra L. Schoneman report?

Debbra L. Schoneman reported receiving 1,332.78 phantom stock units linked to Hormel Foods common stock. The award is a grant under the Nonemployee Director Deferred Stock Subplan and 2026 Equity and Incentive Compensation Plan, increasing her directly held equivalent common stock balance to 15,819.78 shares.

How many Hormel Foods (HRL) phantom stock units were granted and at what value?

Schoneman was granted 1,332.78 phantom stock units at a reference value of $22.65 per unit. Each phantom unit is equivalent to one share of Hormel Foods common stock and is deferred for payment in shares at a future date tied to her board service.

What are phantom stock units in the Hormel Foods (HRL) director plan?

Phantom stock units are bookkeeping units equal to one share of Hormel Foods common stock. For directors, they accrue under the Nonemployee Director Deferred Stock Subplan and are ultimately settled in actual common shares rather than cash, aligning director compensation with shareholder outcomes over time.

When will Debbra L. Schoneman’s Hormel (HRL) phantom stock units be paid out?

The phantom stock units become payable in Hormel Foods common shares after Schoneman’s service as a director ends. Payment occurs on a February 15 following termination, or a later elected date, and is accelerated to a lump sum if separation follows a qualifying change in control event.

How can Hormel Foods (HRL) phantom stock units be distributed to the director?

The phantom stock units may be distributed in one lump sum or in up to ten annual installments, as elected by the director. In a qualifying change in control followed by separation from service within six months, they are paid out in a single lump sum of common shares.

Which Hormel Foods (HRL) plan governs this phantom stock unit grant?

The grant is made under the Hormel Foods Corporation Nonemployee Director Deferred Stock Subplan, pursuant to the Hormel Foods Corporation 2026 Equity and Incentive Compensation Plan. This framework sets the deferral, payout timing, and change-in-control provisions for the phantom stock units awarded to directors.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/02/2026 - 04:39 PM Learn about SEC filing dates

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^*

Schoneman Debbra L.

(Last) (First) (Middle)

1 HORMEL PLACE

(Street)

AUSTIN MINNESOTA 55912

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
HORMEL FOODS CORP /DE/ [ HRL ]

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)
03/31/2026

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
Common Stock	03/31/2026		A		1,332.78(1)	A	$22.65	15,819.78	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

Explanation of Responses:

1. Represents phantom stock units for deferrals under the Hormel Foods Corporation Nonemployee Director Deferred Stock Subplan pursuant to the Hormel Foods Corporation 2026 Equity and Incentive Compensation Plan (the "2026 Equity and Incentive Compensation Plan"). Each phantom stock unit is the equivalent of one share of common stock. The phantom stock units become payable in shares of common stock in one lump sum, or in up to ten annual installments, at the election of the Reporting Person, on February 15 of the year following termination of service as a director, or such later date as is elected by the Reporting Person. In addition, the phantom stock units become payable in shares of common stock in one lump sum immediately upon a director's separation from service within six months following a change in control (as defined in the 2026 Equity and Incentive Compensation Plan).

Remarks:

	/s/ Benjamin S. Borden, Attorney-In-Fact	04/02/2026
	** 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)