Averill Howard M 4

What Happened
Howard M. Averill, a director of Campbell's Co. (CPB), was credited with 1,977.4 phantom shares on June 29, 2026. The award is reported as a derivative acquisition (code A) at $0.00 per share (no cash paid). These phantom shares are fully vested and represent an economic equivalent to common shares; their value is payable in cash from the Company’s Supplemental Retirement Plan upon the reporting person’s retirement, resignation, or termination.

Key Details

• Transaction date: 2026-06-29; Form 4 filed 2026-06-30 (timely filing).
• Transaction type/code: Grant/award (A); derivative (Phantom Stock).
• Quantity: 1,977.4 phantom shares at $0.00 per share (acquired).
• Vesting/status: Fully vested (Footnote F2).
• Payment/settlement: Payable in cash from the Supplemental Retirement Plan upon retirement/resignation/termination (F3).
• Economic equivalence: Each phantom share equals one common share (F1).
• Additional detail: 697.59 of the reported phantom shares were acquired via dividend reinvestment since the last report (F4).
• Shares owned after transaction: Not specified in this filing.

Context: This was a derivative award (phantom stock), not a purchase or open-market trade. Phantom shares provide cash exposure to the company’s stock performance rather than actual share ownership; because they are fully vested, the reporting person already has the economic right to future cash payment per plan terms. This type of grant is common for deferred compensation and does not necessarily signal a buy or sell decision by the insider.