Campbell's (CPB) Director Howard M. Averill Receives Phantom Stock Award

What Happened

• Howard M. Averill, a director of Campbell Soup Company (CPB), was granted 2,348.99 phantom shares (derivative award) on 2026-09-25. The filing shows an acquisition price of $0 (award code A). Phantom shares are the economic equivalent of common stock but were issued as a deferred cash benefit, not as tradable shares.

Key Details

• Transaction date: 2026-09-25; Form 4 filed 2026-09-28 (appears timely).
• Shares/units granted: 2,348.99 phantom shares; price reported $0.00 (derivative).
• Vesting/status: Phantom shares are fully vested (per filing).
• Payout terms: Value payable in cash from the Company’s Supplemental Retirement Plan upon the reporting person's retirement, resignation or termination.
• Other note: 685.91 of the reported units were acquired through dividend reinvestment since the last report.
• Shares owned after transaction: not disclosed in this filing.

Context

• This is a deferred-compensation award (phantom stock) rather than an open-market purchase or sale. It represents an entitlement to cash tied to the company’s share price in the future, so it doesn't reflect an immediate purchase or sale decision by the director.