McCormick CEO awarded 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 plan-related equity activity, mainly compensation and dividend reinvestment entries. He received a grant of 52.202 shares of phantom stock at $48.02 per share under a Non Qualified Retirement Savings Plan, bringing his indirect phantom stock balance to 13,962.866 units.
The filing also records 288 shares of Common Stock - Voting at $51.40 per share and 130.779 additional phantom stock units at $50.40 per unit as other non-market transactions, which the footnotes label as dividend reinvestment. After these updates, Foley holds 130,344.016 shares of Common Stock - Voting directly and 1,383.460 shares of Common Stock - Non Voting directly, plus the phantom stock units that are payable in an equal number of voting common shares under the plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
Foley Brendan M
Role
Chairman, President & CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 52.202 | $48.02 | $3K |
| Other | Common Stock - Voting | 288 | $51.40 | $15K |
| Other | Phantom Stock | 130.779 | $50.40 | $7K |
| holding | Common Stock - Non Voting | -- | -- | -- |
Holdings After Transaction:
Phantom Stock — 27,873.531 contracts (Indirect, Non Qualified Retirement Savings Plan);
Common Stock - Voting — 130,344.016 shares (Direct);
Common Stock - Non Voting — 1,383.46 shares (Direct)
Footnotes (2)
- F1. Dividend Reinvestment
- 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: 52.202 units at $48.02
Phantom stock balance: 13,962.866 units
Other phantom stock entry: 130.779 units at $50.40
+3 more
6 metrics
Phantom stock grant
52.202 units at $48.02
Grant under Non Qualified Retirement Savings Plan
Phantom stock balance
13,962.866 units
Indirect holdings after grant
Other phantom stock entry
130.779 units at $50.40
Other transaction coded as dividend reinvestment
Dividend reinvestment common shares
288 shares at $51.40
Common Stock - Voting other transaction
Direct voting common holdings
130,344.016 shares
Common Stock - Voting after transactions
Direct non-voting common holdings
1,383.460 shares
Common Stock - Non Voting holding entry
Key Terms
Phantom Stock, Non Qualified Retirement Savings Plan, Dividend Reinvestment, Common Stock - Voting, +1 more
5 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."
Dividend Reinvestment financial
"Dividend Reinvestment"
Dividend reinvestment is when the money earned from a company's profit sharing, called dividends, is automatically used to buy more shares of that company instead of being received as cash. This process helps investors grow their holdings over time without extra effort, much like using earned interest to buy more of a savings account. It encourages long-term investment growth by continuously increasing the amount of shares owned.
Common Stock - Voting financial
"Each share of phantom stock represents the right to receive one share of Common Stock - Voting."
Common Stock - Non Voting financial
"Common Stock - Non Voting"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did McCormick (MKC) CEO Brendan Foley report?
Brendan Foley reported a grant of 52.202 phantom stock units and several plan-related adjustments. These included 288 shares of Common Stock - Voting and 130.779 phantom stock units recorded as dividend reinvestments, updating both his direct share ownership and deferred compensation holdings.
What is the phantom stock grant reported for McCormick (MKC)’s CEO?
The CEO received 52.202 shares of phantom stock valued at $48.02 per unit. Each phantom stock unit represents the right to receive one share of McCormick Common Stock - Voting, payable under the company’s Non Qualified Retirement Savings Plan according to its stated terms.
Were Brendan Foley’s recent McCormick (MKC) transactions open-market buys or sells?
The reported transactions were not open-market purchases or sales. They consist of a phantom stock grant and other entries coded as “other” transactions and dividend reinvestments, reflecting compensation and plan activity rather than discretionary trading in McCormick stock.
What does phantom stock mean in McCormick (MKC)’s Form 4 filing?
In this filing, each phantom stock share represents the right to receive one share of Common Stock - Voting. These units are payable in McCormick voting common shares in line with the Non Qualified Retirement Savings Plan, functioning as deferred, stock-linked compensation for the executive.
AI-generated analysis. How Rhea-AI works. Not financial advice.
