Tapiero Jacques 4

What Happened

• Jacques Tapiero, a director of McCormick & Co. (MKC), exercised stock-related rights and sold shares on 2026-02-03. He exercised/converted derivatives to acquire 5,000 shares at $49.96 each (total cash cost reported $249,800) and immediately sold 5,000 shares in an open-market transaction at $63.85 each (total proceeds $319,250). The filing also reports conversion/disposition of 5,000 shares of phantom stock (no cash exchanged).

Key Details

• Transaction date: 2026-02-03; filing date: 2026-02-04 (appears timely).
• Exercise/Conversion (code M): 5,000 shares acquired at $49.96 — $249,800.
• Open-market sale (code S): 5,000 shares sold at $63.85 — $319,250.
• Derivative conversion: 5,000 shares reported disposed at $0.00 (phantom stock conversion).
• Shares owned after transaction: not reported in the supplied data.
• Relevant footnotes from the filing:
  • F1: Each phantom share represents the right to receive one voting common share under the Non‑Qualified Retirement Savings Plan; payable in shares.
  • F2: Option exercised; no purchase price required (as noted in the filing).
• No 10b5-1 plan or late filing flag was indicated in the provided information.

Context

• This pattern (exercise followed by immediate sale) is common for option exercises or plan-required sales to cover taxes/fees; the sale was executed in the open market. The conversion of phantom stock is a plan payout in shares rather than cash per the filing footnote. These transactions are factual disclosures of insider activity and do not by themselves indicate the director’s future view of the company.