[Form 4] Kellanova Insider Trading Activity

Rhea-AI Filing Summary

Todd W. Haigh, Chief Legal Officer of Kellanova (K), reported multiple transactions on 08/15/2025. He received 5,803 restricted stock units that convert one-for-one into Kellanova common shares and were recorded at $0 per unit as compensation. On the same date he also disposed of 2,351 common shares at a price of $80.19, reducing his direct holdings from 33,990.1254 shares to 31,639.1254 shares. The filing notes an additional 100 shares held in a 401(k)/profit sharing plan and 349.64 shares in his parent's IRA for which he disclaims beneficial ownership.

Positive

• Receipt of 5,803 restricted stock units that convert one-for-one into Kellanova common stock (compensation alignment with shareholders).
• Disclosure includes 100 shares in a 401(k)/profit sharing plan, showing additional retirement-plan ownership.

Negative

• Sale of 2,351 common shares at $80.19 reduced direct beneficial ownership from 33,990.1254 to 31,639.1254 shares.
• 349.64 shares held in parent's IRA are disclaimed by the reporting person, indicating those shares are not beneficially owned by him.

Insights

Corporate Governance Expert

TL;DR: Insider received compensation in RSUs and concurrently sold a modest number of shares, changing direct holdings modestly.

The filing documents a routine equity compensation grant of 5,803 restricted stock units that vest/convert one share per unit, recorded at $0 which reflects grant accounting rather than market purchase. The concurrent sale of 2,351 shares at $80.19 reduced direct ownership by about 6.9% of pre-transaction direct holdings (33,990.1254 to 31,639.1254). These are standard director/officer actions consistent with compensation realization and partial monetization rather than extraordinary governance events.

Securities Analyst

TL;DR: Transactions are material for disclosure but not large enough to imply a major shift in insider stake.

The report shows acquisition of equity-linked compensation (5,803 RSUs) and an open-market or planned sale of 2,351 shares at $80.19 on 08/15/2025. Net direct holdings declined to 31,639.1254 shares. No derivative positions remain post-transaction. From a market-impact perspective, the disclosed amounts are small relative to typical institutional positions and reflect routine insider activity tied to compensation and liquidity needs.

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^*

Haigh Todd W

(Last) (First) (Middle)

ONE KELLOGG SQUARE

(Street)

BATTLE CREEK MI 49016

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
KELLANOVA [ K ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

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	08/15/2025		M		5,803	A	$0(1)	33,990.1254	D
Common	08/15/2025		F		2,351	D	$80.19	31,639.1254	D
Common								349.64	I	By 401(k) Profit Sharing Plan
Common								100	I	Parent's IRA(2)

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
Restricted Stock Units	(1)	08/15/2025		M			5,803	08/15/2025	08/15/2025	Common	5,803	$0	0	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of Kellanova common stock.

2. Represents share held in an IRA account of the reporting person's mother over which the reporting person has been granted power of attorney and with respect to which he is one of several beneficiaries. The reporting person disclaims beneficial ownership of these securities.

Remarks:

	/s/ Todd W. Haigh	08/19/2025
	** 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

What did K (Kellanova) insider Todd W. Haigh report on Form 4?

He reported receipt of 5,803 restricted stock units and a sale of 2,351 common shares at $80.19 on 08/15/2025.

How did the transactions change Todd Haigh's Kellanova holdings?

Direct holdings declined from 33,990.1254 shares to 31,639.1254 shares after the transactions.

Are the restricted stock units convertible to common stock?

Yes. The filing states each restricted stock unit represents a contingent right to receive one share of Kellanova common stock.

Does Todd Haigh claim ownership of shares held in his parent's IRA?

No. The filing states he has power of attorney for the account but disclaims beneficial ownership of the 349.64 shares held there.

When were the reported transactions executed?

All transactions in the Form 4 are dated 08/15/2025 and the form is signed on 08/19/2025.