Bhojwani Gary C. 4

What Happened Gary C. Bhojwani, a director of Hormel Foods Corporation (HRL), was granted 2,665.56 phantom stock units on March 31, 2026, at an imputed price of $22.65 per unit, for a total value of $60,375. The transaction is reported as an award/grant (code A) rather than an open-market purchase.

Key Details

• Transaction date and price: March 31, 2026; 2,665.56 units at $22.65 each (total value $60,375).
• Type: Award/Grant of phantom stock units under the Nonemployee Director Deferred Stock Subplan (2026 Equity and Incentive Compensation Plan).
• Shares owned after transaction: Not specified in the filing.
• Footnotes:
  • F1: These are phantom stock units, each equivalent to one share, payable in shares later (lump sum or up to ten annual installments) after director service ends, or sooner in certain change-in-control circumstances.
  • F2: Includes units received from conversion of dividend equivalents since the reporting person's last filing through the reported transaction.
• Filing: Report filed April 2, 2026 (covers period ended March 31, 2026); filing appears timely.

Context Phantom stock units are a form of deferred compensation for nonemployee directors and are not immediately issued common shares. They convert to actual shares (or installments of shares) on specified post-service dates or upon certain change-in-control events. Such director awards are common and reflect routine compensation rather than an immediate market purchase signal.