Hilado Maria Teresa 4

What Happened

• Maria Teresa Hilado, a director of Campbell Soup Company (CPB), was credited with 2,037.31 phantom shares on 2026-03-30 as an award/acquisition (Form 4 code A). The award shows a $0.00 per-share acquisition price because these are derivative phantom shares (cash‑settled), not open‑market purchases of common stock. The filing indicates these phantom shares are fully vested and their value will be paid in cash under the Company’s Supplemental Retirement Plan upon the reporting person's retirement, resignation, or termination.

Key Details

• Transaction date: 2026-03-30; Form 4 filed 2026-03-31 (timely filing).
• Transaction type/code: Award/Acquisition (A) of derivative phantom shares; reported acquisition price $0.00.
• Shares credited: 2,037.31 phantom shares; includes 520.16 shares acquired via dividend reinvestment since last report (per footnote).
• Vesting/payment: Phantom shares are fully vested (F2) and payable in cash under the Supplemental Retirement Plan on retirement/resignation/termination (F3).
• Ownership after transaction: Form 4 does not disclose total common shares beneficially owned after this award.
• Notes: Phantom shares are the economic equivalent of common shares (F1) but do not increase the company’s outstanding common stock.

Context

• Phantom stock is a cash‑settled, derivative form of equity compensation that tracks the value of common shares; it aligns the insider economically with share performance but does not represent immediate common‑share ownership or dilute outstanding shares. Because this was a grant/award (not a market purchase or sale), it should be viewed as routine compensation rather than a direct bullish or bearish trading signal.