MANGAN MICHAEL D 4

What Happened

• Michael D. Mangan, a director of McCormick & Co. (MKC), exercised options and conducted a related sale on Feb 9, 2026. The filing shows he exercised option-related rights covering shares and ended up acquiring 5,000 shares (recorded at $49.96 each, total $249,800) and disposed of 5,000 shares in an open-market sale at $67.92 each for $339,600. A separate derivative line shows 5,000 shares disposed at $0, which reflects option/derivative settlement as part of the exercise process.
• This is effectively a cashless-style exercise combined with a sale: options were exercised and some resulting shares were sold to cover costs/taxes while 5,000 shares were retained. The sale is a routine disposition; the exercise is not a market-directional purchase.

Key Details

• Transaction date: 2026-02-09 (reported on Form 4 filed 2026-02-10 — filed promptly)
• Open-market sale: 5,000 shares @ $67.92 = $339,600
• Exercise/Acquisition: 5,000 shares @ $49.96 = $249,800
• Derivative disposition: 5,000 shares @ $0 (reflects option settlement/surrender)
• Footnote: F1 — Options exercised; no purchase price required.
• Shares owned after transaction: Not specified in the provided summary (not reported here).

Context

• For retail investors: this looks like a typical options exercise paired with a sell-to-cover or cashless exercise — the insider exercised option rights and sold a portion of the resulting shares while retaining others. Such transactions are common and do not by themselves indicate a change in company outlook.