McCormick Director Jacques Tapiero Receives Phantom Stock Award

What Happened
Jacques Tapiero, a director of McCormick & Co. (MKC), acquired derivative equity in two transactions reported on a Form 4 filed 2026-09-03. On 2026-09-02 he was granted 185.874 shares of phantom stock valued at $53.80 each (total value $10,000). Earlier, on 2026-07-20 he acquired 23.942 phantom shares via dividend reinvestment at $52.24 each (total value $1,251). Both entries are derivative awards (phantom stock) rather than open-market purchases of voting shares.

Key Details

• Transactions:
  • 2026-07-20 — Other acquisition (code J): 23.942 shares @ $52.24 = $1,251 (dividend reinvestment; footnote F1)
  • 2026-09-02 — Grant/award (code A): 185.874 shares @ $53.80 = $10,000 (award; footnote F2)
• Nature: Derivative phantom stock (payable in common shares under the Non‑Qualified Retirement Savings Plan — footnote F2).
• Shares owned after the transactions: not disclosed in the provided Form 4.
• Filing timeliness: Form 4 filed 2026-09-03. The July 20 dividend‑reinvestment entry was reported late (filed well after the 2‑business‑day Form 4 deadline); the 2026‑09‑02 grant was reported promptly on 2026‑09‑03.
• Footnotes: F1 = Dividend reinvestment. F2 = Each phantom share represents the right to receive one voting common share and will be paid in shares per plan terms.

Context
These were awards and a dividend reinvestment into phantom stock (a contractual right to future shares), not open‑market buys or sales. Derivative awards are common for compensation and retirement plans; they represent future entitlement to shares rather than immediate transfers of voting stock.