Schoneman Debbra L. 4

What Happened Debbra L. Schoneman, a member of Hormel Foods Corporation's board of directors, received 1,332.78 phantom stock units (treated as equivalent to common shares) as an award on March 31, 2026. The units are reported at $22.65 each for a total value of $30,187. This transaction is an award/grant (Form 4 code A), not an open-market purchase or sale.

Key Details

• Transaction date and value: 2026-03-31; 1,332.78 units × $22.65 = $30,187.
• Transaction type: Award/Grant (A) — phantom stock units under the Nonemployee Director Deferred Stock Subplan pursuant to the 2026 Equity and Incentive Compensation Plan.
• Shares owned after transaction: Not specified in this Form 4.
• Filing: Form 4 filed 2026-04-02; no late filing flag noted in the report.
• Footnote: Phantom stock units equal one share each and are payable in shares in a lump sum or up to ten annual installments at the director’s election, typically on Feb 15 following termination of service. They also vest/pay immediately if the director separates within six months after a change in control.

Context These are deferred, non-cash compensation units for a non-employee director. Such awards are a routine part of director compensation and do not indicate an immediate purchase or sale of common stock. The units convert to actual shares only upon payout events described above.