Matthews (MATW) director awarded 422 deferred stock units as dividend equivalents

Rhea-AI Filing Summary

Alvaro Garcia Tunon, a director of Matthews International Corp (MATW), received 422 Deferred Stock Units (DSUs) under the companys 2019 Director Fee Plan on 08/25/2025. Each DSU is economically equivalent to one share of Class A common stock and will be paid in common stock in accordance with the reporting persons deferral election or the plan. The 422 DSUs were issued as dividend equivalent rights at no cash cost to the director (price $0), increasing his reported direct beneficial ownership to 33,535 shares of Class A common stock. This filing reflects a routine equity-based director compensation event rather than an open-market purchase or sale.

Positive

• Director compensation aligned with shareholders: DSUs tie the reporting persons economic outcomes to Class A common stock performance.
• Non-cash award preserves company cash: DSUs issued as dividend equivalents reduce near-term cash outflows for the issuer.

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine director compensation via DSUs aligns the directors economic interests with shareholders without immediate cash payout.

The issuance of 422 DSUs to a director under the 2019 Director Fee Plan is a standard mechanism to compensate and retain non-employee board members while deferring taxable income and preserving cash. DSUs granted as dividend equivalents maintain parity with equity performance and reduce cash outflow for the issuer. The increase to 33,535 shares of reported beneficial ownership is a disclosure formality that shows continuing alignment but is unlikely to materially affect share count or governance control.

Financial Analyst

TL;DR: This is a non-cash, equity-settled director award with negligible immediate financial impact on the companys capital structure.

DSUs issued at a $0 price as dividend equivalents represent deferred equity compensation rather than a cash transaction or market trade. The reported 422-unit grant modestly increases the directors stake to 33,535 Class A equivalent shares. From a financial standpoint, such awards dilute existing shareholders only when DSUs are settled in shares; the size of this grant is small relative to typical public-company float, so material impact on EPS or ownership percentages is unlikely.

08/27/2025 - 08:50 AM

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
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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).

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^*

GARCIA TUNON ALVARO

(Last) (First) (Middle)

TWO NORTHSHORE CENTER

(Street)

PITTSBURGH PA 15212

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MATTHEWS INTERNATIONAL CORP [ MATW ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/25/2025

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 Stock Units under 2019 Director Fee Plan	(1)	08/25/2025		A		422(2)		(1)	(1)	Class A Common Stock	422(2)	$0	33,535	D

Explanation of Responses:

1. Each Deferred Stock Unit ("DSU") is the economic equivalent of one share of Class A common stock. The DSUs become payable in common stock in accordance with a deferral election made by the reporting person or pursuant to the Issuer's Amended and Restated 2019 Director Fee Plan. A copy of such deferral election is on file with the Issuer.

2. DSUs were issued by the Issuer to the Reporting Person pursuant to dividend equivalent rights.

Remarks:

The Power of Attorney dated February 6, 2018 was filed on February 7, 2018, in Form 4, and is incorporated herein by reference.

	/s/ Brian D. Walters (Attorney-in-Fact)	08/27/2025
	** 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.
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FAQ

What did MATW director Alvaro Garcia Tunon receive?

He received 422 Deferred Stock Units (DSUs) under the 2019 Director Fee Plan, issued as dividend equivalents.

How many shares does this bring Alvaro Garcia Tunons ownership to in MATW?

The filing reports direct beneficial ownership of 33,535 Class A equivalent shares following the award.

Were these DSUs purchased or granted for cash?

They were granted as dividend equivalent rights at a reported price of $0, not purchased on the open market.

How are DSUs settled under the plan?

Each DSU is the economic equivalent of one share and will be paid in common stock according to the reporting persons deferral election or the plan.

Does this Form 4 filing indicate a sale of MATW shares?

No. The filing reports an acquisition of DSUs as compensation, not a sale of shares.