Alvarado Luani 4

What Happened
Alvarado Luani, Chief People Officer of Kenvue, exercised 85,534 stock options on February 6, 2026, resulting in the acquisition of 85,534 Kenvue shares at an exercise price of $13.76 per share (total intrinsic value recorded as $1,176,948). To satisfy the exercise price and associated tax withholding, 71,581 shares were withheld by Kenvue at an effective value of $18.13 per share (approx. $1,297,764). The underlying options/derivative position for 85,534 units was canceled/converted as part of the exercise.

Key Details

• Transaction date: 2026-02-06 (reported on Form 4 filed 2026-02-10). Filing was timely.
• Option exercise: 85,534 options exercised (code M) at $13.76 → acquired value $1,176,948.
• Tax/exercise withholding: 71,581 shares withheld by employer (code F) at $18.13 → value ~$1,297,764. No market sale by the reporting person.
• Derivative adjustment: 85,534 derivative units marked disposed at $0.00 reflecting exercise/conversion of the option.
• Footnotes: Options were set to expire Feb 8, 2026 and were automatically exercised on the last trading day to avoid forfeiture (no market trades occurred). These awards were converted from prior Johnson & Johnson grants at the corporate separation and are fully vested.
• Shares owned after transaction: Not disclosed in this filing.

Context
This was an option exercise with employer share-withholding to cover taxes/exercise costs — a routine, administrative transaction rather than an open-market sale or purchase. The automatic exercise shortly before expiration and the withholding by Kenvue mean no shares were sold on the market by the insider. Converted awards trace back to Johnson & Johnson grants and were fully vested.