Tenazas Marissa R 4

What Happened
Marissa Tenazas, Senior Vice President and Chief Human Resources Officer of Fresh Del Monte Produce (FDP), had vested equity converted to ordinary shares and then sold a portion. On 2026-04-01 she converted/received 2,642 shares (2,465 + 177) at $0.00 in connection with award vesting/conversion. Those same 2,642 shares were recorded as disposed at $0.00 (derivative disposition), consistent with withholding to cover taxes. Separately, on 2026-04-02 she sold 1,046 ordinary shares in the open market at $40.40 each, generating proceeds of $42,258.

Key Details

• Transaction dates and prices:
  • 2026-04-01: Conversion/exercise of derivative awards — 2,465 and 177 shares @ $0.00 (acquired), then recorded as disposed @ $0.00 (derivative).
  • 2026-04-02: Open-market sale — 1,046 shares @ $40.40 = $42,258.
• Shares owned after transaction: Not specified in this filing.
• Notable footnotes:
  • Footnote F3 indicates shares were sold to cover withholding tax obligations on settlement of PSUs (consistent with the $0.00 derivative dispositions).
  • Footnotes F10–F12 describe PSU award dates and remaining vesting schedules (some awards vest in future years).
  • F2 notes fractional dividend equivalent units were paid in cash; F6/F9 clarify RSUs/PSUs convert one-for-one to ordinary shares.
• Filing timeliness: Form filed 2026-04-03 for transactions on 4/1–4/2; no late filing indicated.

Context
The $0.00 conversions indicate settlement of time- or performance-based awards (PSUs/RSUs) rather than a cash option purchase. The $0 disposals are consistent with shares withheld/transferred to satisfy tax withholding at vesting (a routine administrative step). The separate open-market sale of 1,046 shares generated reported proceeds of $42,258. These actions are typical post-vesting liquidity and withholding transactions and do not, by themselves, indicate insider sentiment about the company's stock.