JANA Partners Management, LP 4

What Happened

• JANA Partners Management, LP (reported as a director by deputization) made two open‑market purchases of Lamb Weston Holdings (LW) stock, acquiring a total of 236,000 shares for roughly $9,702,040. The filings show 136,000 shares at a weighted average price of $40.89 (total $5,561,040) and 100,000 shares at $41.41 (total $4,141,000). These were purchases (transaction code P), which are generally viewed as a bullish move (buying shares), not sales.

Key Details

• Transaction dates and prices:
  • 2026-04-07: 136,000 shares @ weighted avg $40.89 (range reported $40.81–$41.12) — $5,561,040
  • 2026-04-08: 100,000 shares @ $41.41 — $4,141,000
• Total acquired: 236,000 shares for ~$9.70 million.
• Shares owned after transaction: Not specified in this filing.
• Footnotes of note:
  • F1: The $40.89 is a weighted average; portions of that lot traded between $40.81 and $41.12.
  • F2: JANA is a private money manager that beneficially owns the reported securities through accounts it manages; the GP and Barry Rosenstein disclaim direct beneficial ownership except to the extent of any pecuniary interest.
• Filing timeliness: Reported on 2026-04-09 for transactions on 2026-04-07 and 04-08 — appears to be filed within the normal Section 16 reporting window.

Context

• The reporting person is an institutional investor (JANA) that the filing notes may be deemed a director by deputization because Scott Ostfeld, a JANA managing partner and portfolio manager, currently serves on Lamb Weston's board. This is an institutional open‑market purchase, not an option exercise or gift. As always, purchases by institutional investors can be informative but don't prove future stock performance.