Pilgrim's Pride (PPC) Insider Report: 400 Dividend-Equivalent RSUs to Director

Rhea-AI Filing Summary

Raul Padilla, a director of Pilgrim’s Pride Corporation (PPC), received 400 dividend equivalent units tied to restricted stock units (RSUs) that convert into common shares under the RSU plan's terms. The report shows a non-derivative transaction on 09/03/2025 recording 400 shares credited as dividend equivalents, bringing his direct beneficial ownership from those units to 400 shares reported. The filing explains each dividend equivalent corresponds to the right to receive one share of PPC common stock, subject to the RSU award's vesting and settlement conditions. There are no cash purchase prices or sales disclosed; this is a record of accrued dividend-equivalent share units rather than a market purchase or disposition.

Positive

• Director compensation aligned with shareholders via dividend equivalents on RSUs, preserving economic parity between RSU holders and stockholders
• No sale or disposition reported, indicating no immediate insider liquidity event

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine compensation-related accrual to a director; no immediate governance red flags.

The Form 4 documents a standard grant-related accrual: 400 dividend equivalent units tied to outstanding RSUs held by a director. This indicates the company uses dividend equivalents to preserve compensation parity between stockholders and RSU holders. Because the units are subject to the RSU plan's vesting and settlement terms, the transaction does not indicate an immediate transfer of marketable shares or insider liquidity. For governance review, attention should focus on the RSU plan terms, vesting schedule, and aggregate insider holdings to assess potential dilution and alignment with shareholder interests.

Securities Analyst

TL;DR: Small, routine issuance of equity-linked units to an insider; immaterial to valuation.

The 400 dividend equivalent units represent a modest equity accrual and are typical of executive/director compensation programs that mirror dividends on outstanding RSUs. This does not constitute share sales or purchases that would affect free float immediately. Given the size (400 shares), the impact on outstanding share count and EPS is negligible. Investors tracking insider transactions should note the nature (dividend equivalents on RSUs) which implies future settlement risk tied to vesting rather than immediate dilution.

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^*

Padilla Raul

(Last) (First) (Middle)

1770 PROMONTORY CIRCLE

(Street)

GREELEY CO 80634

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PILGRIMS PRIDE CORP [ PPC ]

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)
09/03/2025

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
Dividend Equivalent Units	(1)	09/03/2025		M		400		(1)	(1)	Common Stock, par value $0.01 per share	400	$0	400	D

Explanation of Responses:

1. Reflects dividend equivalent units accrued on RSUs granted to the Reporting Person. Each dividend equivalent reflects the right to receive one share of PPC common stock, subject to the terms and conditions (including vesting and settlement terms) applicable to the corresponding RSUs.

Remarks:

	/s/ Raul Padilla	09/09/2025
	** 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

What did Raul Padilla report on the Form 4 for Pilgrim's Pride (PPC)?

The filing reports 400 dividend equivalent units credited on RSUs, representing the right to receive 400 shares of PPC common stock subject to RSU terms.

Does the Form 4 show an insider sale or purchase of PPC shares?

No. The Form 4 records accrued dividend equivalents on RSUs, not a market purchase or sale of shares.

Are the 400 units immediately tradable shares?

No. The units are tied to RSUs and are subject to the award's vesting and settlement conditions, so they are not necessarily immediately transferable or tradable.

How material is this transaction to PPC's share count or valuation?

At 400 shares, this accrual is immaterial to overall share count and valuation; it is routine compensation accounting.

What does a dividend equivalent unit mean in this filing?

Each dividend equivalent reflects the right to receive one share of PPC common stock, mirroring dividends payable on corresponding RSUs subject to plan terms.