[Form 4] J M SMUCKER Co Insider Trading Activity

Rhea-AI Filing Summary

Susan Chapman-Hughes, a director of J M Smucker Co (SJM), was granted 1,566 Deferred Stock Units on 10/01/2025. The units are payable one-for-one in common shares upon termination of her service as a director and were granted at a stated price of $0. Following the reported transaction, the filing shows 8,584.403 common shares beneficially owned by Ms. Chapman-Hughes, including shares acquired via the company dividend reinvestment plan. The Form 4 was filed individually by the reporting person and signed by a power of attorney on 10/03/2025.

Positive

• 1,566 Deferred Stock Units were granted, aligning director compensation with equity
• Filing discloses 8,584.403 shares beneficially owned, including dividend reinvestment plan shares

Negative

• Deferred Stock Units are payable only upon termination, so they are not immediately liquid or voting shares
• Grant recorded at a $0 price (compensation), which could lead to future dilution when settled

Insights

Corporate Governance Expert

Director received deferred equity compensation tied to service termination.

The grant of 1,566 Deferred Stock Units indicates compensation for board service rather than an open-market purchase. The units vest or convert to common shares at a 1-for-1 rate upon termination of services, so they represent future share issuance contingent on her continuing or ending service.

This affects outstanding equity only when the units convert; until then they are a contingent claim on common shares and are reported to reflect potential dilution.

Insider Reporting & Compliance Expert

Form 4 correctly reports a director grant and shows post-transaction holdings.

The Form 4 records a transaction date of 10/01/2025 and a filing signature by POA dated 10/03/2025, and it is filed by one reporting person. The filing discloses that 8,584.403 shares are beneficially owned following the grant and notes inclusion of dividend reinvestment plan shares.

All disclosed items are procedural and factual; the report does not show an open-market purchase or sale, but a compensation grant with a $0 grant price, as stated.

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

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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).

1. Name and Address of Reporting Person^*

Chapman-Hughes Susan

(Last) (First) (Middle)

ONE STRAWBERRY LANE

(Street)

ORRVILLE OH 44667

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
J M SMUCKER Co [ SJM ]

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)
10/01/2025

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
Deferred Stock Units	(1)	10/01/2025		A		1,566		(1)	(1)	Common Shares	1,566	$0	8,584.403(2)	D

Explanation of Responses:

1. Deferred Stock Units are payable in Common Shares at a rate of 1-for-1 following termination of services as a director.

2. This amount includes shares acquired under the Company's dividend reinvestment plan, as administered by its transfer agent.

Remarks:

	/s/ Jeannette L. Knudsen, POA	10/03/2025
	** 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 J M Smucker director Susan Chapman-Hughes acquire on 10/01/2025 (SJM)?

She was granted 1,566 Deferred Stock Units on 10/01/2025, payable one-for-one in common shares upon termination of her service.

How many shares does Susan Chapman-Hughes beneficially own after the reported transaction?

The Form 4 reports 8,584.403 common shares beneficially owned following the transaction, which includes shares from the dividend reinvestment plan.

Was the Form 4 filed jointly or by a single reporting person for SJM?

The Form 4 was filed by one reporting person (individual filing).

What is the reported grant price for the Deferred Stock Units?

The Deferred Stock Units were reported with a grant price of $0.

When was the Form 4 signed and by whom?

The filing shows a signature by Jeannette L. Knudsen, POA dated 10/03/2025.