[Form 4] McCormick & Company, Incorporated Non-VTG CS Insider Trading Activity

Rhea-AI Filing Summary

CarGurus, Inc. (CARG) – Form 144 filing

Insider Zachary Hallowell has filed a Form 144 indicating an intention to sell up to 4,369 Class A shares through Fidelity Brokerage Services on or about 07/02/2025. At the referenced market price, the block is worth approximately $144,570.21.

CarGurus reports 84,630,375 Class A shares outstanding; the proposed sale therefore represents roughly 0.005 percent of the float—an amount unlikely to affect overall liquidity or control.

The shares were acquired via restricted-stock vesting on 07/01/2024 (2,444 shares) and 07/01/2025 (1,925 shares). Over the past three months, the same insider has already sold 6,716 shares for total gross proceeds of $188,813.48.

The filing contains the standard attestation that the seller is not in possession of undisclosed material information.

Positive

• Sale represents only 0.005 % of outstanding shares, implying negligible dilution or price pressure.

Negative

• Ongoing insider selling (6,716 shares sold recently plus 4,369 planned) may be interpreted as reduced insider confidence, albeit at a modest scale.

Insights

Securities Analyst

TL;DR: Very small insider sale (0.005% of shares) – limited market impact, mildly negative optics.

The planned 4,369-share disposition equates to just 0.005 % of CarGurus’ outstanding Class A shares, so it should not meaningfully alter supply-demand dynamics or dilute existing holders. The seller gained the shares through routine vesting compensation, making the transaction appear primarily for personal liquidity rather than a strategic exit. Nonetheless, cumulative insider sales of 11,085 shares in four months could be viewed unfavorably by some investors even if the dollar amounts are immaterial relative to the company’s $3 bn+ market cap. Overall impact: neutral.

Corporate Governance Expert

TL;DR: Routine Rule 144 filing; no governance red flags detected.

The notice follows Rule 144 requirements, disclosing broker, share count, acquisition method, and 10b5-1 representations. Because the sale stems from restricted-stock vesting, it aligns with normal executive compensation practices. Absence of a 10b5-1 plan date suggests discretionary timing, which some governance observers prefer to be pre-planned; however, the marginal size limits concern. I classify the filing as administratively compliant and not materially impactful to governance assessments.

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^*

Piper Sarah

(Last) (First) (Middle)

24 SCHILLING ROAD

SUITE 1

(Street)

HUNT VALLEY MD 21031

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MCCORMICK & CO INC [ MKC ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2025

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 Stock - Voting								3,272.992	D

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
Phantom Stock	(1)	06/30/2025		A		32.085		(1)	(1)	Common Stock - Voting	32.085	$75.82	3,478.055	I	Non Qualified Retirement Savings Plan

Explanation of Responses:

1. Each share of phantom stock represents the right to receive one share of Common Stock - Voting. Shares of Phantom Stock are payable in shares of Common Stock - Voting in accordance with the terms of the Non-Qualified Retirement Savings Plan.

	Jason E. Wynn, Attorney-in-fact	07/02/2025
	** 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

How many CARG shares are being sold under this Form 144?

The insider plans to sell 4,369 Class A shares.

What is the market value of the proposed CARG share sale?

The aggregate market value disclosed is $144,570.21.

When is the approximate sale date for the CARG shares?

The filing lists an approximate sale date of 07/02/2025.

How many CARG shares are outstanding?

CarGurus reports 84,630,375 Class A shares outstanding.

Has the insider sold CARG shares recently?

Yes. Over the past three months, the insider sold 6,716 shares for total gross proceeds of $188,813.48.

How were the shares to be sold acquired?

They were obtained through restricted-stock vesting on 07/01/2024 and 07/01/2025.