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Hormel Foods (HRL) director reports grant of 2,666 phantom stock units

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

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 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 (1)
  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). 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.
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
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.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
White Steven Andrew
(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)
XDirector10% 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)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock03/31/2026A2,665.56(1)A$22.6542,604.931(2)D
Common Stock52,532ISpouse's Irrevocable Trust
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount 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).
2. 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.
Remarks:
/s/ Benjamin S. Borden, Attorney-In-Fact04/02/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

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.

How many Hormel Foods (HRL) shares does Steven Andrew White hold after this transaction?

After the award, he directly holds the equivalent of 42,604.931 shares of Hormel common stock. The filing also lists 52,532 additional shares held indirectly through a spouse’s irrevocable trust as of the reported date, reflecting broader associated holdings.

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.