Hormel Foods (HRL) director reports grant of 2,666 phantom stock units
Rhea-AI Filing Summary
White Steven Andrew reported acquisition or exercise transactions in this Form 4 filing.
Hormel Foods (HRL) director Steven Andrew White reported an equity award of 2,665.56 phantom stock units tied to the company’s common stock. The award is valued at $22.65 per unit and increases his directly held equivalent stock balance to 42,604.931 shares. These phantom stock units are credited under Hormel’s Nonemployee Director Deferred Stock Subplan in the 2026 Equity and Incentive Compensation Plan and are payable in common shares after his service as a director ends or sooner after a qualifying change in control. The filing also notes 52,532 shares held indirectly through a spouse’s irrevocable trust as of the same date.
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Insider Trade Summary
Net Buyer: 2,665.56 shares
Net Buy
2 txns
Insider
White Steven Andrew
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 2,665.56 | $22.65 | $60K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 42,604.931 shares (Direct);
Common Stock — 52,532 shares (Indirect, Spouse's Irrevocable Trust)
Footnotes (2)
- 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).
- F2. Includes phantom stock units received by the Reporting Person upon conversion of dividend equivalents under the Hormel Foods Corporation Nonemployee Director Deferred Stock Subplan since December 31, 2025 through the date of the reported transaction.
Key Figures
Phantom stock units granted: 2,665.56 units
Grant valuation price: $22.65 per unit
Direct holdings after award: 42,604.931 shares
+2 more
5 metrics
Phantom stock units granted
2,665.56 units
Nonemployee Director Deferred Stock Subplan award on March 31, 2026
Grant valuation price
$22.65 per unit
Value per phantom stock unit for the reported award
Direct holdings after award
42,604.931 shares
Total equivalent Hormel common stock directly held after transaction
Indirect trust holdings
52,532 shares
Spouse's irrevocable trust holdings as of reported date
Installment payout limit
10 annual installments
Maximum number of installments for phantom unit payout after service
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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Hormel Foods (HRL) director Steven Andrew White report on this Form 4?
He reported receiving 2,665.56 phantom stock units linked to Hormel common stock. The award, valued at $22.65 per unit, was credited under a nonemployee director deferred stock subplan and increased his directly held equivalent stock balance to 42,604.931 shares.
What are phantom stock units in the Hormel Foods (HRL) director plan?
Phantom stock units are bookkeeping entries equal to one Hormel common share each. They are credited for director deferrals and dividend equivalents, then paid out in actual shares in a lump sum or installments after board service ends or following a qualifying change in control.
When will Steven Andrew White’s Hormel phantom stock units be paid out?
They become payable in Hormel common shares after his service as a director ends. Payment occurs on February 15 of the year following termination, in a lump sum or up to ten annual installments, or earlier after a qualifying change in control event.
How are dividend equivalents handled for Hormel Foods (HRL) phantom stock units?
Dividend equivalents are converted into additional phantom stock units for the director. The filing notes that the reported balance includes units received from dividend equivalent conversions since December 31, 2025, increasing the total number of deferred units credited to Steven Andrew White.