Lautenbach Marc Bradley 4

What Happened Marc Lautenbach, a director of Campbell's Co. (CPB), was credited with 2,023.22 phantom shares on 2026-03-30 as an award (derivative grant) at $0.00 per share. The phantom shares are the economic equivalent of common stock, are fully vested, and their value is payable in cash from the Company's Supplemental Retirement Plan upon Lautenbach’s retirement, resignation, or termination. The filing notes that 613.34 of these phantom shares were acquired through dividend reinvestment since his last report.

Key Details

• Transaction date: 2026-03-30; Filing date: 2026-03-31 (appears timely).
• Transaction type/code: Award/Grant (A); derivative instrument (phantom stock).
• Shares credited: 2,023.22 phantom shares at $0.00 per share.
• Footnotes: F1 — 1 phantom share = 1 common share economically; F2 — fully vested; F3 — payable in cash upon separation; F4 — includes 613.34 shares from dividend reinvestment.
• Shares owned after transaction: Not specified in the filing.
• No sale or open-market purchase occurred; this is a compensation-related, cash-settled award.

Context Phantom stock is a cash-settled, derivative compensation vehicle that tracks the economic value of common shares but does not convey actual share issuance, voting rights, or immediate saleable stock. Because these phantom shares are fully vested and payable in cash upon departure, this filing reflects compensation accrual rather than an active buy/sell signal.