J.M. Smucker CPO Jill Penrose Withholds 979 Shares for Taxes

What Happened Jill R. Penrose, Chief People Officer of J. M. Smucker Co. (SJM), had a total of 979 company shares withheld by the company on 2026-06-15 to satisfy tax withholding obligations upon vesting. The withholding was executed in three tranches — 147, 395 and 437 shares — each priced at $115.94, for a combined value of about $113,505. This is a withholding (tax settlement), not an open-market sale or purchase.

Key Details

• Transaction date: 2026-06-15 (reported on Form 4 filed 2026-06-16).
• Share tranches and values:
  • 147 shares @ $115.94 = $17,043
  • 395 shares @ $115.94 = $45,796
  • 437 shares @ $115.94 = $50,666
• Total shares withheld: 979; total value ≈ $113,505.
• Shares owned after transaction: not stated in the filing.
• Footnote: Shares were withheld by the company to satisfy tax liability upon vesting under The J. M. Smucker Company 2020 Equity and Incentive Compensation Plan (net-share settlement).
• Filing timeliness: Reported the next day (no late filing flag indicated).

Context This was a routine tax-withholding (net settlement) related to vested restricted stock, which is common and does not necessarily signal a change in insider sentiment. It differs from an open-market sale because the company retained shares to cover taxes rather than the insider selling shares on the market.