GARDEN EDWARD P 4

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.