LACY STEPHEN M 4

What Happened
Stephen M. Lacy, a director of Hormel Foods Corporation (HRL), was granted 6,541 restricted shares on 2026-02-02. The Form 4 reports the acquisition as an award (transaction code A) at $0.00 per share (total reported value $0), reflecting a non-purchase equity grant rather than an open-market buy.

Key Details

• Transaction date: 2026-02-02; Form filed: 2026-02-04 (timely filing).
• Transaction type/code: Award/Grant (A).
• Shares granted: 6,541 restricted shares; reported acquisition price: $0.00 (total $0).
• Shares owned after transaction: Not specified in the provided filing.
• Footnote: Awarded to a non-employee director under the Hormel Foods Corporation 2026 Equity and Incentive Compensation Plan; restricted period expires on the date of the issuer's next annual meeting of stockholders.
• Remarks/Exhibit: Exhibit 24 – Power of Attorney included.

Context
This was an equity award to a non-employee director (typical director compensation), not a market purchase or sale. Restricted shares are subject to a vesting/restriction period (here, until the next annual meeting), so they generally cannot be sold immediately. Awards reported at $0 on Form 4 commonly reflect grant valuation rules and do not imply the shares lack market value.