HORMEL Foods Corp: director Gary C. Bhojwani received 3,027.83 shares

What happened

• Gary C. Bhojwani, a director, was granted 3,027.83 phantom stock units (each equivalent to one share) at $19.94 per unit on Sep 30, 2026, with a reported value of $60,375. The Form 4 was filed on Oct 2, 2026.

Key details

• Transaction date and price: Sep 30, 2026 at $19.94 per unit.
• Shares/units granted and value: 3,027.83 units for $60,375.
• Shares owned after the transaction: not reported in this filing.
• Footnotes:
  • F1: these are phantom stock units under the Hormel Foods Corporation Nonemployee Director Deferred Stock Subplan pursuant to the 2026 Equity and Incentive Compensation Plan; each unit equals one share and becomes payable in shares in a lump sum or up to ten annual installments on Feb 15 following termination of service (or a later elected date), and is payable immediately upon separation within six months following a change in control.
  • F2: includes phantom stock units received upon conversion of dividend equivalents since the reporting person's last filing through the reported transaction.
• Remarks: Exhibit 24 — power of attorney is referenced in the filing.
• Form filed Oct 2, 2026; no late filing is indicated in the document.

Why it may matter

• This was an award of deferred phantom stock units to a nonemployee director, not an open-market purchase or sale.
• The units are convertible into shares at future dates or upon certain events rather than representing immediate share trading.
• The filing does not show why the insider traded or why the company acted.