[Form 4] PERRIGO COMPANY PLC Insider Trading Activity

Rhea-AI Filing Summary

Perrigo Company plc (PRGO) filed a Form 4 on 14 Jul 2025 detailing routine equity-award activity by Chief Executive Officer and Director Patrick Lockwood-Taylor. On 10 Jul 2025, the executive exercised 28,326 Restricted Stock Units (code M) at an implied value of $27.27 per share, converting them into ordinary shares. To satisfy statutory tax withholding requirements, 14,234 shares were simultaneously disposed of (code F) at the same price.

Following the transactions, Lockwood-Taylor’s direct ownership rose to 81,352 ordinary shares, and he retains 28,325 unvested RSUs that will continue to vest in equal annual tranches through July 2026. The activity did not involve an open-market purchase or sale; it reflects standard vesting and tax-settlement mechanics under the company’s long-term incentive plan. While the net increase of roughly 14 k shares marginally strengthens insider alignment, it is generally viewed as neutral from a market-moving standpoint.

Positive

• Net increase of approximately 14,092 shares in CEO direct ownership, modestly improving insider alignment.

Negative

• Shares acquired were not an open-market purchase; transaction driven by automatic RSU vesting rather than discretionary buying.

Insights

Financial Analyst

TL;DR: Routine RSU vest; CEO nets ~14k shares, ownership now 81k—neutral signal.

The filing shows an automatic conversion of RSUs rather than a discretionary purchase, so it does not convey strong bullish intent. However, the net addition of shares means the CEO opted to retain roughly half the vested award, modestly increasing skin-in-the-game. No cash outlay occurred, and the transaction price simply follows the RSU’s fixed value. From a valuation or earnings standpoint, there is no impact; dilution is already accounted for in equity-compensation expense. Overall, I classify this as neutral with minimal market significance.

Corporate Governance Specialist

TL;DR: Standard equity-plan mechanics; governance posture intact—low impact.

Lockwood-Taylor’s exercise aligns with the three-year vesting schedule approved by the board. The partial share withholding for taxes (code F) is consistent with company policy and avoids open-market selling pressure. Maintaining over 81k shares post-settlement keeps insider ownership within typical S&P MidCap norms, supporting shareholder-management alignment. No red flags emerge regarding timing, volume, or Rule 10b5-1 compliance. I therefore rate the governance impact as neutral.

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^*

Lockwood-Taylor Patrick

(Last) (First) (Middle)

PERRIGO COMPANY PLC

515 EASTERN AVENUE

(Street)

ALLEGAN MI 49010

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PERRIGO Co plc [ PRGO ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
07/10/2025

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
Ordinary Shares	07/10/2025		M		28,326	A	$27.27	95,586	D
Ordinary Shares	07/10/2025		F		14,234	D	$27.27	81,352	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
Restricted Stock Units	(1)	07/10/2025		M			28,326	(2)	(2)	Ordinary Shares	28,326	(1)	28,325	D

Explanation of Responses:

1. Each Restricted Stock Unit represents a contingent right to receive one Perrigo Company plc ordinary share.

2. Each Restricted Stock Unit represents a contingent right to receive one Perrigo Company plc ordinary share. Vesting in 3 equal annual installments beginning 10 July 2024.

Remarks:

	/s/ Diana Witt, attorney-in-fact for Mr. Patrick Lockwood-Taylor	07/14/2025
	** 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 insider transaction did PRGO's CEO report?

He exercised 28,326 RSUs and retained a net 14,092 shares after tax withholding.

How many PRGO shares does Patrick Lockwood-Taylor now own directly?

81,352 ordinary shares following the July 10 2025 transaction.

What was the price associated with the RSU conversion?

The RSUs converted at an implied price of $27.27 per share.

Why were 14,234 shares disposed of in the same filing?

These shares were automatically withheld (code F) to cover statutory tax obligations.

How many unvested RSUs does the CEO still hold?

He retains 28,325 Restricted Stock Units that continue to vest annually.

Does this Form 4 signal bullish insider sentiment?

It is considered neutral; the activity was driven by scheduled vesting, not open-market buying.