Modi Rajeev A. 4

What Happened

• Rajeev A. Modi, Executive Vice President, U.S. Pet Health and Global Digital Transformation, received an award of 61.59 deferred stock units on 2026-03-20. The units are reported at $23.98 each, for a total reported value of approximately $1,477. This was an award/grant (code A), not an open-market purchase or sale.

Key Details

• Transaction date and price: 2026-03-20; 61.59 units @ $23.98 each (total ~$1,477).
• Instrument: Deferred stock units (derivative); reported as an acquisition via grant.
• Shares owned after transaction: Not specified in this filing.
• Footnotes: Each deferred stock unit represents the right to one share or a cash equivalent (F1). Units settle in cash or shares following termination or in a specified future year under the Executive Deferral and Stock Match Plan (F2).
• Filing: Form 4 filed 2026-03-24 reporting the 2026-03-20 grant. This filing appears to be within the SEC’s two-business-day filing window (filed on the second business day after the weekend).

Context

• Deferred stock units do not immediately convert into tradable shares; they are a form of compensation that will settle in shares or cash later per plan rules. Such awards are common executive compensation and, by themselves, don’t indicate an insider’s buying or selling sentiment. The reported value (~$1.5k) is small relative to typical insider trades.