Leggett & Platt Inc SEC Filings

Leggett & Platt (LEG) filed a Form 4 disclosing that Executive Vice-President and President of the Specialized Products and Furniture, Flooring & Textile segment, Robert S. Smith Jr., acquired common stock on June 27 2025.

The filing lists two open-market purchases totaling 338.6914 shares: 120.3968 shares at $7.8625 and 218.2946 shares at $7.40. Following the transactions, Smith’s direct beneficial ownership rose to 97,505.9266 shares. No derivative security activity or dispositions were reported, and the transactions were effected directly rather than through an indirect vehicle.

Bank of Montreal (BMO) is offering US$3 million of Senior Medium-Term Notes, Series K — “Barrier Enhanced Return Notes” — maturing 1 September 2026 and linked to the performance of the Invesco QQQ Trust (ticker “QQQ”). The notes give investors 200% leveraged exposure to any positive percentage change in QQQ, but gains are capped by a Maximum Redemption Amount of US$1,135 per US$1,000 face value (13.5% total return). The issue provides partial downside protection through a 20% barrier: if, on the 27 August 2026 valuation date, QQQ closes at or above 80% of its initial level (US$546.22), holders receive at least their principal regardless of interim price moves. If QQQ closes below the barrier, principal is reduced 1-for-1 with the full negative move, exposing investors to up to 100% loss.

Key economic terms include:

• Upside Leverage Factor: 200%
• Initial Level: US$546.22 (6 / 26 / 25 close)
• Barrier Level: US$436.98 (80% of initial)
• Issue price: 100% of face; estimated initial value: US$969.40 (reflects structuring and hedging costs)
• Agent’s commission: 2.0% (US$60,000); net proceeds to BMO: 98.0%
• Unsecured, unsubordinated obligations of BMO; no coupon and no listing
• Minimum denomination: US$1,000; CUSIP 06376ELW0

Risk highlights include credit risk to BMO, liquidity risk (no exchange listing; secondary market only at dealer discretion), limited upside due to the 13.5% cap, and the possibility of total principal loss if the barrier is breached. The pricing supplement also stresses potential conflicts of interest (BMOCM acts as calculation agent and market-maker) and warns that the initial estimated value is materially below the issue price. Tax treatment is uncertain; the note is intended to be treated as a prepaid derivative contract for U.S. federal income tax purposes.

Given the relatively small size of the issuance (US$3 million), the transaction is immaterial to BMO’s capital structure but offers retail structured-product investors a defined-outcome alternative to direct QQQ exposure.

Leggett & Platt, Inc. (LEG) – Form 4 insider transaction

Executive Vice-President and Chief Strategic Planning Officer Ryan Michael Kleiboeker reported two open-market purchases of the company’s common stock on June 27 2025:

• 93.4919 shares at an average price of $7.8625
• 215.6959 shares at an average price of $7.40

Following these small acquisitions (total ≈ 309 shares), Kleiboeker’s directly held position rose to 82,717.1441 shares. He also reports indirect holdings of 1,000 shares held in a spouse’s IRA and 855.742 shares within the company retirement plan. No derivative transactions were disclosed. There is no indication that the purchases were executed under a Rule 10b5-1 trading plan.

The filing represents routine insider accumulation amounting to less than 0.4 % of the executive’s existing stake and is unlikely to have a material impact on LEG’s share price or fundamentals.

Leggett & Platt, Inc. (LEG) – Form 4 insider transaction

EVP & President of Bedding Products, James Tyson Hagale, reported two share acquisitions on 27 June 2025:

• 138.7409 common shares acquired at $7.8625 per share
• 311.85 common shares acquired at $7.40 per share

The total of 450.5909 new shares lifts Hagale’s direct ownership from 138,838.1652 to 139,288.7561 shares. The filing lists transaction code “A” (acquisition) and no derivative activity. No dispositions were reported and no 10b5-1 plan box was checked. The modest purchase size (≈0.3 % of his holdings) nevertheless signals continued personal capital commitment at prices near multiyear lows for LEG.

Leggett & Platt, Inc. (LEG) filed a Form 4 disclosing that President & CEO Karl G. Glassman acquired additional company stock on 06/27/2025.

• Transaction details: 303.8385 shares of common stock acquired (transaction code A) at a reported price of $7.8625 per share, implying a total value of roughly $2.4 thousand.
• Post-transaction holdings: Glassman now directly owns 1,425,301.6074 LEG shares and indirectly controls 28,289.387 shares held in the company’s retirement plan.
• Role: Glassman serves as Director, President, and Chief Executive Officer.

The filing indicates a small incremental purchase rather than a sale, suggesting continued insider alignment but involving an immaterial dollar amount relative to both Glassman’s existing stake and LEG’s market capitalization.

Bank of Montreal (BMO) is offering senior, unsecured Market-Linked Notes due August 5, 2027 that provide investors with 1-for-1 upside exposure to the Russell 2000® Index (RTY) subject to a hard Maximum Redemption Amount of $1,140 per $1,000 note (14% total return). The structure is straightforward: if, on the valuation date (Aug 2, 2027), the Index is at or below its initial level (set on the July 31, 2025 pricing date), holders simply receive par. If the Index appreciates, the payment equals principal plus 100% of the percentage gain, but never more than the $140 cap.

The notes pay no periodic coupons, are not listed on any exchange, and can be purchased only in $1,000 increments. BMO Capital Markets Corp. (BMOCM) acts as both selling agent and calculation agent, earning a 1.00% underwriting commission; BMO will net 99% of face value. BMO’s estimated initial value is $978.40—reflecting hedging costs, commissions, and its internal funding rate—meaning investors incur an implied 2.16% upfront economic cost.

Credit exposure rests entirely with BMO; the notes are senior unsecured obligations and are not CDIC/FDIC insured. Liquidity is expected to be limited because the notes are not exchange-traded and any secondary market will be made solely at BMOCM’s discretion. The issuer warns that secondary prices will likely be below the issue price and may include a temporary three-month premium that amortises to zero.

Risk highlights: (1) returns are capped, so investors forgo any Index gains above 14%; (2) no protection against inflation or opportunity cost versus conventional bonds of similar tenor; (3) tax treatment is expected to follow contingent-payment debt-instrument rules—U.S. holders owe ordinary income annually on an imputed yield even though cash is received only at maturity; (4) potential conflicts of interest arise from BMO’s dual role as issuer, hedger and market-maker; and (5) the embedded initial value discount and selling concessions create negative carry if sold prior to maturity.

Key dates: Pricing – Jul 31 ’25; Settlement – Aug 5 ’25; Valuation – Aug 2 ’27; Maturity – Aug 5 ’27.

The notes may appeal to investors seeking modest, capped equity exposure with full principal repayment and who are comfortable with BMO credit risk, illiquidity, and complex tax reporting.