Abbas Mohammed 4

What Happened

• Abbas Mohammed, President & Chief Operating Officer of Fresh Del Monte Produce (FDP), had performance award units convert/settle into shares on 2026-03-01 and then sold shares in the open market on 2026-03-02. About 10,649 performance-related shares were converted/issued at a $0 exercise price (derivative conversion). Approximately 10,649.214 shares were treated as settled/withheld (including a 0.214 fractional share paid in cash), and on 2026-03-02 he sold 3,929 shares at $42.88 each for total proceeds of $168,476. The Form 4 was filed on 2026-03-03 (covering activity through 2026-03-01).

Key Details

• Transaction dates and prices:
  • 2026-03-01: Conversion/exercise of derivatives (PSUs/DEUs) → 9,910 and 739 shares acquired at $0.00 (total ≈ 10,649 shares).
  • 2026-03-01: Associated derivative disposals (withholding) of 9,910 and 739.214 shares at $0.00 (tax withholding; see F2).
  • 2026-03-02: Open-market sale of 3,929 shares at $42.88 → proceeds $168,476.
• Fractional share: A 0.214 fractional DEU was paid in cash (footnote F1).
• Withholding: The filing indicates shares were withheld/sold to cover tax obligations on PSU settlement (footnote F2).
• Instrument notes: DEUs and PSUs convert to ordinary shares on a one-for-one basis; DEUs represent contingent rights to one share (footnotes F3, F8).
• Shares owned after transaction: The filing did not state total shares owned following these transactions.
• Timeliness: Filing date 2026-03-03; transaction dates 2026-03-01/03-02 — filing appears timely (no late-filing flag).

Context

• These were conversions/settlements of performance stock units (derivative instruments) rather than purchases requiring cash payment — the reported $0.00 price reflects that the awards vested/converted rather than a cash option exercise.
• A portion of the converted shares was used to satisfy tax withholding; the open-market sale of 3,929 shares generated stated proceeds. The filing itself does not state the insider’s motivation.