McCormick CEO awarded 48 phantom stock units
Foley Brendan M reported acquisition or exercise transactions in this Form 4 filing.
Rhea-AI Filing Summary
Foley Brendan M reported acquisition or exercise transactions in this Form 4 filing.
McCormick & Co. Chairman, President & CEO Brendan M. Foley reported a compensation-related award of 48.15 phantom stock units on Common Stock - Voting at a reference price of $52.06 per share. These units, held in a Non-Qualified Retirement Savings Plan, brought his phantom stock balance to 14,171.63 units. As of the same date, he also directly held 1,754 shares of Common Stock - Non Voting and 130,344.016 shares of Common Stock - Voting, reflecting prior increases from dividend reinvestment and employee stock purchase participation rather than open-market trades.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 48.15 shares
Grant/Award
3 txns
Insider
Foley Brendan M
Role
Chairman, President & CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 48.15 | $52.06 | $3K |
| holding | Common Stock - Voting | -- | -- | -- |
| holding | Common Stock - Non Voting | -- | -- | -- |
Holdings After Transaction:
Phantom Stock — 14,171.63 contracts (Indirect, Non Qualified Retirement Savings Plan);
Common Stock - Voting — 130,344.016 shares (Direct);
Common Stock - Non Voting — 1,754 shares (Direct)
Footnotes (2)
- F1. Reporting Person's common stock - nonvoting shares were increased by 355 shares through past dividend reinvestment and ESPP.
- F2. 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.
Key Figures
Phantom stock grant: 48.15 units at $52.06
Phantom stock balance: 14,171.63 units
Common Stock - Voting holdings: 130,344.016 shares
+2 more
5 metrics
Phantom stock grant
48.15 units at $52.06
Phantom Stock grant on Common Stock - Voting
Phantom stock balance
14,171.63 units
Total phantom stock after grant
Common Stock - Voting holdings
130,344.016 shares
Direct holdings after reported transactions
Common Stock - Non Voting holdings
1,754 shares
Direct holdings after dividend reinvestment and ESPP
Dividend/ESPP increase
355 shares
Increase in nonvoting shares via reinvestment and ESPP
Key Terms
Phantom Stock, Non-Qualified Retirement Savings Plan, Common Stock - Non Voting, Common Stock - Voting
4 terms
Phantom Stock financial
"Each share of phantom stock represents the right to receive one share of Common Stock - Voting."
A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.
Non-Qualified Retirement Savings Plan financial
"Shares of Phantom Stock are payable in shares of Common Stock - Voting in accordance with the terms of the Non-Qualified Retirement Savings Plan."
Common Stock - Non Voting financial
"Reporting Person's common stock - nonvoting shares were increased by 355 shares through past dividend reinvestment and ESPP."
Common Stock - Voting financial
"Each share of phantom stock represents the right to receive one share of Common Stock - Voting."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did McCormick (MKC) report for Brendan Foley?
Brendan Foley received 48.15 phantom stock units tied to McCormick Common Stock - Voting. This was a grant under a Non-Qualified Retirement Savings Plan, not an open-market trade, and increased his phantom stock balance to 14,171.63 units.
What is the phantom stock reported in the McCormick (MKC) Form 4?
The phantom stock consists of units where each unit represents one share of Common Stock - Voting. These 48.15 new units, at a reference price of $52.06, are credited under McCormick’s Non-Qualified Retirement Savings Plan and are ultimately payable in actual shares.
Did dividend reinvestment affect Brendan Foley’s McCormick (MKC) holdings?
Yes. A footnote states his Common Stock - Non Voting position rose by 355 shares through past dividend reinvestment and participation in an employee stock purchase plan. These increases reflect program activity rather than separate open-market purchases.
AI-generated analysis. How Rhea-AI works. Not financial advice.
