Pelaez Reyes Jorge 4
4 · FRESH DEL MONTE PRODUCE INC · Filed Mar 3, 2026
Research Summary
AI-generated summary of this filing
Fresh Del Monte (FDP) SVP Jorge Pelaez Exercises/Converts Vested Awards
What Happened
Jorge Pelaez, Senior Vice President, Central America for Fresh Del Monte Produce (FDP), reported conversions/exercises of derivative awards on 2026-03-01. The form shows acquisitions of 1,998 and 149 shares at $0.00 (total ~2,147 shares) and corresponding dispositions of 1,998 and 149.036 derivative units at $0.00. The $0.00 reporting indicates these were vesting/settlement events (conversion of PSUs/RSUs/DEUs), not purchases on the open market.
Key Details
- Transaction date: 2026-03-01; Form filed 2026-03-03 (timely filing). Transaction code: M (exercise/conversion of derivative).
- Reported acquisitions: 1,998 shares and 149 shares at $0.00. Reported dispositions: 1,998 shares and 149.036 shares at $0.00.
- Total shares involved: roughly 2,147 shares converted/settled (small fractional difference noted).
- Footnotes: F1 notes a fractional DEU on vesting paid in cash. Other footnotes (F2–F12) describe that DEUs convert one-for-one to ordinary shares and detail PSU/RSU award and vesting schedules (including awards from 3/1/2021, 3/1/2024, 3/3/2025).
- Shares owned after the reported transactions are not specified in the provided excerpt.
Context
An "M" code conversion/settlement typically reflects vesting of restricted or performance-based equity rather than a market purchase or voluntary sale. Dispositions reported at $0.00 and the cash payment note for fractional DEUs indicate settlement/withholding or cash-out of fractional units rather than an open-market sale. These routine vesting/settlement events are common and do not, by themselves, indicate insider buying or selling sentiment.
Insider Transaction Report
- Exercise/Conversion
Ordinary Shares
2026-03-01+1,998→ 4,213 total - Exercise/Conversion
Ordinary Shares
[F1]2026-03-01+149→ 4,362 total - Exercise/Conversion
Dividend Equivalent Units
[F2][F1][F3]2026-03-01−149.036→ 1,679.452 total→ Ordinary Shares (149.036 underlying) - Exercise/Conversion
Performance Stock Units
[F7][F11]2026-03-01−1,998→ 1,999 total→ Ordinary Shares (1,998 underlying)
- 741
Restricted Stock Units
[F4][F5]→ Ordinary Shares (741 underlying) - 3,303
Restricted Stock Units
[F4][F6]→ Ordinary Shares (3,303 underlying) - 3,000
Performance Stock Units
[F7][F8]→ Ordinary Shares (3,000 underlying) - 2,090
Performance Stock Units
[F7][F9]→ Ordinary Shares (2,090 underlying) - 2,390
Performance Stock Units
[F7][F10]→ Ordinary Shares (2,390 underlying) - 3,303
Performance Stock Units
[F7][F12]→ Ordinary Shares (3,303 underlying)
Footnotes (12)
- [F1]A fractional share of Dividend Equivalent Units ("DEUs") on the Performance Stock Units ("PSUs") vesting was paid in cash.
- [F10]The PSUs were awarded on 3/1/2021 and are earned subject to meeting minimum performance criteria. Once earned, the PSUs vested in three equal annual installments on each of 3/1/2022, 3/1/2023 and 3/1/2024. PSUs and associated DEUs will settle on the six-month anniversary after termination of employment.
- [F11]The PSUs were awarded on 3/1/2024 subject to meeting minimum performance criteria which was met at 100%. The PSUs vest in three equal annual installments. The remaining vestings will occur on each of 3/1/2026 and 3/1/2027.
- [F12]The PSUs were awarded on 3/3/2025 and are earned subject to meeting minimum performance criteria. Once earned, the PSUs vest in three equal annual installments on each of 3/3/2026, 3/3/2027 and 3/3/2028.
- [F2]Each DEU represents a contingent right to receive one ordinary share of FDP. DEUs are subject to the same restrictions and vesting and/or performance criteria based on the underlying Restricted Stock Units ("RSUs") and/or PSUs to which they relate.
- [F3]Includes 335.266 DEUs acquired through a dividend reinvestment plan.
- [F4]The RSUs convert to Ordinary Shares on a one-for-one basis.
- [F5]These RSUs were awarded on 3/2/2023 and vest in three equal installments over three years. The remaining vesting will occur on 3/2/2026.
- [F6]These RSUs were awarded on 3/3/2025 and vest in three equal installments over three years. The vestings will occur on 3/3/2026, 3/3/2027 and 3/3/2028.
- [F7]The PSUs convert to Ordinary Shares on a one-for-one basis.
- [F8]These PSUs were awarded on 2/20/2019 subject to meeting minimum performance criteria which was met at 100%. The PSUs vested in three equal annual installments on each of 2/20/2020, 2/20/2021 and 2/20/2022. PSUs and associated DEUs will settle on the six-month anniversary after termination of employment.
- [F9]These PSUs were awarded on 3/2/2020 subject to meeting minimum performance criteria which was met at 83%. The PSUs vested in three equal annual installments on each of 3/1/2021, 3/1/2022 and 3/1/2023. PSUs and associated DEUs will settle on the six-month anniversary after termination of employment.