Averill Howard M 4

What Happened

• Howard M. Averill, a director of Campbell Soup Company (CPB), was awarded 2,051.39 shares of Phantom Stock on 2026-03-30. The award is reported as a derivative grant with an acquisition price of $0; the Phantom Stock is fully vested and is the economic equivalent of common stock but is payable in cash under the company's Supplemental Retirement Plan upon the reporting person's retirement, resignation, or termination. The grant figure includes 483.55 phantom shares credited via dividend reinvestment since his last report.

Key Details

• Transaction date: 2026-03-30 (reported on Form 4 filed 2026-03-31)
• Transaction type/code: A (Award/Grant of derivative Phantom Stock)
• Shares granted: 2,051.39 phantom shares; reported price $0 (cash-settled instrument)
• Vesting/status: Fully vested (Footnote F2)
• Payout: Payable in cash under the Supplemental Retirement Plan upon retirement/resignation/termination (Footnote F3)
• Dividend reinvestment: 483.55 phantom shares included since last report (Footnote F4)
• Timeliness: Filed the next day; within normal Form 4 reporting window (not marked late)

Context

• Phantom Stock is a cash-settled, derivative form of compensation that tracks the economic value of common shares but does not transfer actual stock; it typically represents deferred compensation rather than an open-market purchase or sale. Such awards are common for board members and do not by themselves indicate buying or selling sentiment in the market.