Schlitz Lei Zhang 4

What Happened Schlitz Lei Zhang, a director of Archer-Daniels-Midland Company (ADM), was granted 715.519 stock units on July 1, 2026. The award is recorded as a derivative acquisition with a reported acquisition price of $0 — this is a grant of stock units rather than an open‑market purchase. Under the filing the units are 1-for-1 convertible to common shares when and if they vest.

Key Details

• Transaction date: 2026-07-01; Form 4 filed: 2026-07-02 (timely — within the standard two-business-day window).
• Security: 715.519 stock units (derivative award); reported acquisition price $0.
• Conversion: 1-for-1 conversion/exercise ratio for the derivative security (Footnote F2).
• Vesting/settlement: Units are subject to the plan’s schedule — generally the earlier of five years after the relevant award quarter or when credited as dividend equivalents, or the director’s departure from the board, subject to plan terms (Footnote F3).
• Source of award: Granted under Archer‑Daniels‑Midland Company’s Stock Unit Plan for Nonemployee Directors (Footnote F1).
• Shares owned after transaction: Not specified in the provided filing excerpt.

Context This is a routine director compensation award, common for nonemployee board members, and does not involve immediate cash changing hands or an open‑market trade. Such awards typically vest over time or upon certain events; they do not necessarily signal buying or selling intent by the director.