Kenvue director granted 10,309 deferred share units

PAWLUS KATHLEEN M reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

PAWLUS KATHLEEN M reported acquisition or exercise transactions in this Form 4 filing.

Kenvue Inc. director Kathleen M. Pawlus received a grant of 10,309 Deferred Share Units (DSUs) on May 21, 2026 as part of director compensation. Each DSU represents one share of common stock to be delivered after her board service ends. Following this award, she holds a total of 25,037.675 DSUs directly, including units accumulated from dividend equivalents.

Insider Trade Summary

Grant/Award: 10,309 shares

Grant/Award 1 txn

Insider PAWLUS KATHLEEN M

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Deferred Share Units	10,309	$17.46	$180K

Holdings After Transaction: Deferred Share Units — 25,037.675 contracts (Direct)

Footnotes (2)

1. F1. Grant of Deferred Share Units ("DSUs") under the Issuer's Amended and Restated Deferred Fee Plan for Directors are to be settled in shares of the Issuer's common stock upon termination of the Reporting Person's directorship (with each DSU representing the right to receive one share of Common Stock on the settlement date).
2. F2. Includes DSUs acquired as dividend equivalents.

Key Figures

Deferred Share Units granted: 10,309 units Price reference per DSU: $17.46 per unit Total DSUs after grant: 25,037.675 units +2 more

5 metrics

Deferred Share Units granted 10,309 units Director DSU grant on May 21, 2026

Price reference per DSU $17.46 per unit Grant valuation for DSUs

Total DSUs after grant 25,037.675 units Director’s DSU holdings following transaction

Underlying common stock 10,309 shares Each DSU represents one share of common stock

Transaction code A (Grant, award, or other acquisition) Form 4 transaction classification for DSU award

Key Terms

Deferred Share Units, Amended and Restated Deferred Fee Plan for Directors, dividend equivalents, Grant, award, or other acquisition

4 terms

Deferred Share Units financial

"Grant of Deferred Share Units ("DSUs") under the Issuer's Amended and Restated Deferred Fee Plan for Directors"

Deferred share units are promises that give an executive or director the right to receive company shares or their cash value at a future date, often when they retire or leave the company. Think of them as a paycheck held in a savings account that converts into stock later; they matter to investors because they tie pay to long-term performance, create potential future dilution of shares, and represent a delayed cash or share obligation the company must eventually fulfill.

Amended and Restated Deferred Fee Plan for Directors financial

"under the Issuer's Amended and Restated Deferred Fee Plan for Directors are to be settled in shares"

dividend equivalents financial

"Includes DSUs acquired as dividend equivalents."

Payments tied to employee or contractor equity awards that mirror the cash dividends paid on the company’s stock; they give the holder the same economic benefit as owning the shares without transferring actual shares—often paid in cash or additional award units when the award becomes payable. Investors care because these payments affect a company’s compensation costs, cash flow and potential share dilution, and they signal how management is being rewarded and aligned with shareholders.

Grant, award, or other acquisition financial

"transaction_code_description": "Grant, award, or other acquisition""

FAQ

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

What insider transaction did Kenvue (KVUE) disclose for Kathleen M. Pawlus?

Kenvue reported a grant of 10,309 Deferred Share Units to director Kathleen M. Pawlus. These DSUs are a form of equity-based director compensation and will convert into an equal number of Kenvue common shares when her board service ends.

Were Kenvue (KVUE) shares bought or sold in this Form 4 filing?

No open-market buy or sell occurred in this filing. The Form 4 shows a grant of Deferred Share Units as compensation, not a market purchase or sale of Kenvue common stock by the director.

How many Deferred Share Units does the Kenvue (KVUE) director hold after this transaction?

After the grant, Kathleen M. Pawlus holds 25,037.675 DSUs. This total includes the new 10,309-unit award plus previously accumulated DSUs, including those received as dividend equivalents under the director fee plan.

What are Deferred Share Units (DSUs) in the Kenvue (KVUE) director plan?

Deferred Share Units are bookkeeping entries representing future shares. Under Kenvue’s deferred fee plan, each DSU entitles the director to receive one Kenvue common share, generally delivered after the director’s board service terminates.

When will the granted Deferred Share Units convert into Kenvue (KVUE) shares?

The DSUs are scheduled to settle upon termination of directorship. At that time, each unit converts into one share of Kenvue common stock, providing equity-based compensation that is deferred until the director leaves the board.

Do the Kenvue (KVUE) DSUs include dividend equivalents for the director?

Yes, the reported DSU balance includes dividend equivalents. The filing notes that the total Deferred Share Units held by the director also reflect additional units credited when dividends are paid on Kenvue common stock.

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

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Accepted by SEC EDGAR 05/26/2026 - 05:10 PM EDT 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^*

PAWLUS KATHLEEN M

(Last) (First) (Middle)

C/O 1 KENVUE WAY

(Street)

SUMMIT NEW JERSEY 07901

(City) (State) (Zip)

UNITED STATES

(Country)

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

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)
05/21/2026

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

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)	05/21/2026		A		10,309		(1)	(1)	Common Stock	10,309	$17.46	25,037.675(2)	D

Explanation of Responses:

1. Grant of Deferred Share Units ("DSUs") under the Issuer's Amended and Restated Deferred Fee Plan for Directors are to be settled in shares of the Issuer's common stock upon termination of the Reporting Person's directorship (with each DSU representing the right to receive one share of Common Stock on the settlement date).

2. Includes DSUs acquired as dividend equivalents.

Remarks:

	/s/ Alla Berenshteyn, as attorney-in-fact	05/26/2026
	** 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)