[Form 4] The J.M. Smucker Company Insider Trading Activity

Rhea-AI Filing Summary

Insider activity overview: On 07/02/2025 ZimVie Inc. (ZIMV) filed a Form 4 indicating that independent director Richard Kuntz acquired 1,340.909 Deferred Share Units (DSUs) on 06/30/2025 under the company’s Deferred Compensation Plan for Non-Employee Directors.

• Economic terms: Each DSU is economically equivalent to one share of ZimVie common stock (1-for-1 conversion). The filing lists a reference price of $9.35 but the footnote clarifies the award settles in cash once board service ends.

• Post-transaction holdings: Kuntz now beneficially owns 12,410.656 DSUs; no open-market purchases or sales of common shares were reported. Ownership remains direct, and no derivative instruments with an expiration schedule were created.

• Materiality assessment: The transaction represents routine non-cash director compensation and does not alter ZimVie’s capital structure or cash flows. Therefore, it is considered neutral for near-term valuation but it modestly aligns director incentives with shareholder performance over time.

Insights

Securities Analyst

TL;DR: Routine director DSU grant; no stock bought or sold; neutral financial impact.

The Form 4 records the accrual of 1,340.909 DSUs for Director Richard Kuntz at an implied reference price of $9.35. Because DSUs settle in cash after board service, the event does not create dilution or direct cash outflow today. Total DSUs held rise to 12,410.656, signalling long-term alignment but offering no read-through on insider sentiment. No non-derivative stock transactions occurred, and there are no vesting or expiration milestones to track. In my view the filing is routine and not materially impactful for investors.

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^*

AMIN TARANG

(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)
07/01/2025

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)	07/01/2025		A		242.86		(1)	(1)	Common Shares	242.86	$0	4,527.998(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	07/02/2025
	** 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

How many deferred share units did ZIMV director Richard Kuntz acquire?

He acquired 1,340.909 DSUs on 06/30/2025.

What is the total number of DSUs now held by Richard Kuntz?

After the transaction, he beneficially owns 12,410.656 DSUs.

Do the DSUs in this Form 4 dilute existing ZIMV shareholders?

No. The DSUs will be settled in cash after board service, so they are non-dilutive.

Was any ZimVie common stock bought or sold in this filing?

No. The Form 4 only reports a DSU accrual; there were no open-market stock transactions.

What was the reported conversion or exercise price for the DSUs?

The table lists $9.35, but footnotes clarify the units convert 1-for-1 and settle in cash.