GARDEN EDWARD P 4
4 · Fortune Brands Innovations, Inc. · Filed May 20, 2026
Research Summary
AI-generated summary of this filing
Fortune Brands (FBIN) Director Edward P. Garden Buys 408,900 Shares
What Happened
Edward P. Garden, a director of Fortune Brands Innovations, acquired a total of 408,900 shares in open-market purchases: 403,000 shares on 2026-05-19 at a reported weighted average price of $33.40 (≈ $13,460,200) and 5,900 shares on 2026-05-20 at a weighted average price of $33.28 (≈ $196,352). On 2026-05-19 he also recorded an "other disposition" of 373,741 shares at $0.00, which the filing explains was an in-kind distribution to a limited partnership (no cash proceeds). Net cash outlay for the purchases was about $13.66 million. Purchases are direct open-market buys (code P), which investors often view as more informative than routine sales.
Key Details
- Transaction dates and prices:
- 2026-05-19: 403,000 shares purchased at weighted avg $33.40 (individual trades ranged $32.34–$33.83 per footnote).
- 2026-05-20: 5,900 shares purchased at weighted avg $33.28 (individual trades ranged $33.14–$33.64 per footnote).
- 2026-05-19: 373,741 shares distributed in-kind at $0.00 (other disposition, code J).
- Total purchase value: approximately $13,656,552.
- Shares owned after transaction: not specified in the provided filing excerpt.
- Notable footnotes:
- F1/F2: the $0.00 disposition represents a pro rata, in-kind distribution by GI SPV II to a limited partner for no consideration.
- F3: some securities are held by GI SPV II and Green 73 LLC; Mr. Garden may be deemed to indirectly beneficially own those holdings but disclaims ownership except for pecuniary interest.
- F4/F5: reported prices are weighted averages covering the price ranges noted above; the reporter can provide per-trade breakdowns on request.
- Filing timeliness: Form 4 was filed 2026-05-20 reporting transactions dated 2026-05-19 and 2026-05-20 (filed the day after the first transaction).
Context
The disposition at $0.00 was an in-kind distribution to a limited partnership (not a market sale), so it doesn't represent proceeds to the reporting person. The open-market purchases are straightforward cash buys (codes P) and are typically interpreted as the insider adding to holdings; the filing’s footnotes clarify the complex ownership structure (entities and indirect holdings) and limitations on deemed beneficial ownership.
Insider Transaction Report
- Other
Common Stock, Par Value $0.01
[F1][F2][F3]2026-05-19−373,741→ 3,153,867 total(indirect: By LLC) - Purchase
Common Stock, Par Value $0.01
[F4][F3]2026-05-19$33.40/sh+403,000$13,460,200→ 3,556,867 total(indirect: By LLC) - Purchase
Common Stock, Par Value $0.01
[F5][F3]2026-05-20$33.28/sh+5,900$196,352→ 3,562,767 total(indirect: By LLC)
- 4,765(indirect: Held by Garden Investment Management, L.P.)
Common Stock, Par Value $0.01
[F6]
Footnotes (6)
- [F1]Represents shares of Common Stock distributed ratably by the Reporting Person to a limited partnership for no consideration.
- [F2]The reported transaction reflects a pro rata, in kind distribution by GI SPV II L.P. ("GI SPV II") to a limited partner for no consideration.
- [F3]Reflects securities held directly by GI SPV II and Green 73 LLC. GI SPV II is the manager of Green 73 LLC. Mr. Garden is the sole member of Garden Investment Management GP, LLC, which serves as the general partner of Garden Investment Management, L.P., which serves as the management company for GI SPV II. Accordingly, Mr. Garden may be deemed to indirectly beneficially own (as that term is defined in Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act")) the securities of the Issuer beneficially owned by GI SPV II. Mr. Garden disclaims beneficial ownership of such securities except to the extent of his pecuniary interests therein, and this report shall not be deemed an admission that Mr. Garden is the beneficial owner of such securities for purposes of Section 16 of the Exchange Act or for any other purpose.
- [F4]The price reported is the weighted average price. These shares were purchased in multiple transactions at prices ranging from $32.34 to $33.83, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
- [F5]The price reported is the weighted average price. These shares were purchased in multiple transactions at prices ranging from $33.14 to $33.64, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
- [F6]Reflects a prior grant of stock under the issuer's Long-Term Incentive Plan.