[Form 4] Kenvue Inc. Insider Trading Activity

Rhea-AI Filing Summary

Kenvue Inc. insider report: Perry Kirk, listed as Chief Executive Officer and a reporting person, acquired 185 Deferred Share Units (DSUs) on 10/01/2025 as compensation for board service. Each DSU converts to one share of Kenvue common stock and will be settled in shares following the reporting person's separation from service. After this grant (which includes dividend-equivalent DSUs), the report shows beneficial ownership of 14,041.285 shares. The filing notes the DSUs reflect pro-rated director fees for days served as an independent director in the third fiscal quarter. The form is signed by an attorney-in-fact on behalf of the reporting person.

Insights

Financial Analyst

TL;DR: Routine compensation grant in DSUs increased reported beneficial ownership modestly; no cash proceeds or sales reported.

The filing documents a non-derivative acquisition of 185 Deferred Share Units for Perry Kirk on 10/01/2025, representing deferred director compensation settled in common shares upon separation. The change is compensation-related rather than a market purchase or sale, and the report shows a post-transaction beneficial ownership of 14,041.285 shares. This is a routine governance compensation disclosure and carries limited immediate market impact.

Corporate Governance Expert

TL;DR: Standard director deferral under the company's plan; disclosure aligns with Section 16 reporting requirements.

The DSUs are granted under the Issuer's Amended and Restated Deferred Fee Plan for Directors and are pro-rated for independent director service in the quarter. The filing clarifies settlement will occur in shares after separation from service and includes dividend-equivalent DSUs, which is consistent with common director compensation practices. The signature by an attorney-in-fact is properly provided.

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

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Perry Kirk

(Last) (First) (Middle)

1 KENVUE WAY

(Street)

SUMMIT NJ 07901

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Kenvue Inc. [ KVUE ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

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

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
Deferred Share Units(1)	(2)	10/01/2025		A		185(3)		(2)	(2)	Common Stock	185(3)	(1)	14,041.285(4)	D

Explanation of Responses:

1. Each Deferred Share Unit ("DSU") represents the right to receive one share of Issuer common stock.

2. The DSUs represent deferral of cash compensation under the Issuer's Amended and Restated Deferred Fee Plan for Directors and will be settled in shares of common stock following the reporting person's separation from service.

3. Represents a pro-rated amount of compensation for the number of days that the reporting person served on the Board of Directors as an independent (non-executive) Director in the third fiscal quarter. The DSUs represent deferral of cash compensation under the Issuer's Amended and Restated Deferred Fee Plan for Directors and will be settled in shares of common stock following the reporting person's separation from service from the Issuer's Board of Directors.

4. Includes DSUs acquired as dividend equivalents.

Remarks:

	/s/ Alla Berenshteyn, as attorney-in-fact	10/01/2025
	** 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).
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